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how to hire an accountant

Accountants can provide personalized support to your small business. They can help you find the right documentation for your business type and source tax deductions that are appropriate for your type of business. A CPA or business accountant will ensure you meet how to hire an accountant all of the application requirements and set your business up for a successful application process. On the day your successful small business gets big enough to hire an accountant, you may relish the thought of delegating this responsibility to someone else.

  • Although every organization has different needs, many recruiters and hiring managers look for accountants with the following skills and qualifications.
  • However some firms have non-disclosure contracts, limiting the amount of information you have access to.
  • The final step before entering the final stage of the hiring process (the interview stage) is completing reference checks.
  • The difference in cost between an accountant and a tax preparer depends on the individual.
  • Knowing how to hire an accountant includes thinking about your business needs, determining if a full-time hire is necessary, and asking the right questions when interviewing a candidate.

The best place to source out a good accountant is through word of mouth. Yes, online search helps but keep in mind you’ll be seeing a lot of ads. Start your search with referrals from business owners you know, who are satisfied with the accountants they did hire.

How to Hire an Accountant

That same year, state returns with no itemized deductions would cost $220, while the average fee for an itemized Form 1040 and a state tax return is $323. Every dollar counts for business owners, so if you don’t know where you stand on a monthly basis, you may not be around at the end of the year. And while using do-it-yourself accounting software can help monitor costs, the benefits of hiring good accountants extend far beyond crunching numbers.

how to hire an accountant

These two tests will assess applicants’ skills in managing, tracking, and recording accounts payable and receivable, as well reconciling missing information and transactions. One final way to find accountants for hire is to check national organizations. These organizations gather together experts in the field of accounting. They are the best talent pool for hiring an accountant you can find.

How to use a skills assessment for accountant candidates

According to the IRS, most VITA and TCE sites won’t appear in search results until about three weeks before they’re scheduled to open. If you search for a site outside of mid-January through April, you may have a difficult time finding one near you. Brex Inc. provides the Brex Mastercard® Corporate Credit Card, issued by Emigrant Bank, Member FDIC or Fifth Third Bank, NA., Member FDIC.

The 2017 median pay for an accountant, according to the Bureau of Labor Statistics, was $69,350. You may not need an accountant full time, perhaps just one or two days a week. So you could cut down on costs by going part-time, or with an hourly rate. Once you’ve identified your top candidate, extend an offer and begin the onboarding process. A well-planned onboarding experience that includes clear, well-explained job responsibilities and expectations can help your new accountant feel welcomed, engaged and prepared for their role. When reviewing applications, pay close attention to candidates’ educational backgrounds, certifications and relevant work experience.

Check the Accountant’s References

Let’s say you want your candidate to be good with numbers, tech and accountant savvy, able to follow procedures, and able to communicate clearly. Once you define the top five skills, you can then select the relevant tests to assess those skills. The Microsoft Excel test will show whether candidates have sufficient knowledge of a wide range of Microsoft Excel functions and formulas.

  • And paying CPA rates for bookkeeping services may not be cost-effective.
  • As a whole this type of accountant offers specialization, flexibility, and low overhead.
  • By promoting your company in such a way, you may also find accountants for hire who are passive candidates.
  • And, depending on your financial situation, you might only be able to afford a part-time accountant.
  • When you hire an accountant, you get a lot more than just a number-cruncher.

The key to a good accounting hire is a lot of groundwork before you even invite candidates for an interview. There’s plenty of competition for accounting staff out there, and the unemployment rate for accountants is at a mere 2.3 percent, according to U.S.News. The sector is also growing at a rate of 10%, faster than the average cross-sector growth of 8%. Local CPA firms are good for businesses that need (or want) a lot of personal attention and facetime.

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