How to Hire a Good Accountant

Every big and small business organisation needs accountant for maintaining their accounting records and for preparing their financial statements. My cousin is operating small shop of eye glasses. He also needs accountant because he has lots of Eye Goggles and he is always interested to track his inventory stock after purchase and sale. So, different businessmen need accountant for different financial matters. So, to hire a good accountant can solve your lots of financial problems.

He can help you to pay less tax. He can also give your better advice for better money decision. But question is how to hire a Good accountant who demand less and do for us more.

1st Step : Find Good Accountant in Open Source 

Instead of choosing accountant from relative circle best is to choose the accountant from open source who have enough knowledge and experience for doing your accounting work. If you will hire accountant from your relative who has not enough knowledge to hand your business's account, may do any mistake which will generate the losses to your business. Many years ago, a businessman did not select me because of appointing his relative without seeing is knowledge. His relative has issued the cash of Rs. 7,50,000 to a party who sold his scrap on credit with Rs. 75,000. Now, party was not finding. I think, it may be the mistake of old accountant who pass entry with wrong amount. It is also mistake of his relative who did not confirm this large payment from head of business. So, this issue came in our front. That time, I had enough knowledge but I did not selected due to this.

2nd Step : To Know the Academic and Professional Qualification 

When any candidate comes to you for working as accountant. Get the resume and find his academic and professional qualification. An CA has more knowledge of accounting than a commerce graduate. Some candidate may have additional qualifications and degrees of economics, maths and management. So, all will be plus point for such candidate.

When you need to prepare your financial statements, you may want to hire an accountant, a certified public accountant (CPA) or an accounting firm. Your financial professional can also advise you and your company on major financial matters and assist you when you can no longer handle all your accounting needs efficiently. As an added benefit, most accountants keep current with the latest tax laws and practices. They can provide clients with every possible tax break, resulting in greater tax deductions and less money owed to Uncle Sam. Rest easy; let your accountant prepare your personal or corporate tax returns.

3rd Step : To Know the Experience of Accountant 

Every accountant is not good in everywhere. For example, there is difficult to choose an accountant who has experience only on manual. Like this, some accountant has past experience in product manufacturing. If you are providing services, it is better to select the accountant who has experience in service providing company.

4th Step : To Know Rates of Accounting Service

Every accountant demands different amount for his service. We all know, this is the time of inflation. Value of money has decreased. But there is lots of other factors which work on demanding of rates by accountant.

  1. For example, accountant live in luxury environment. Instead of demanding market rate, he will demand more. So, ask some question relating to his personal history for knowing whether his demanding rates are affected from his personal environment or his own luxury. As per business rule, fees is fixed where demand and supply accountants in market will be equilibrium. So, try to take more and more interview, you will know the perfect rates by asking their past taking rates. 
  2. Second, rates will also affected with his specialty.  If he is master-mind for doing our all special accounting work. He has right to get more for his less time as accountant. You can take the example of me. I have spent my 20 to 24 hours in accounting area. Accounting is for me as tenacity. If today, I will go to any company for providing accounting advice, I will demand more for my every 5 minutes advice. So, businessmen should analyze everything for finding a great accountant. 

5th Step : Ask the Questions which you can Ask

To find the good accountant from just resume is not good. Ask question from candidate. You will find his body language. You will get lots of hidden answers which you did not find from his great resume. So, make the big list of questions which you have to ask from candidate. You should hire an accountant who will satisfy to you. 

Related : How to Become Your Own Accountant 

Reference for Further Reading 

Download Greatest Accountant of India 






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Accounting Education: How to Hire a Good Accountant
How to Hire a Good Accountant
Accounting Education
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