Can’t keep up with your growing responsibilities as a small business owner?
Don’t worry, you’re not alone. And while there are a good number of firms offering outsourced accounting and bookkeeping, it is natural to feel skeptical about the idea of outsourcing.
Outsourcing accounting and bookkeeping is a matter of finding the right firm for you. Our previous post talks about the key considerations to help you get started. But to help you more in finding the right outsourcing partner for your small business, we list down the most important questions to ask when meeting an outsourced accountant.
6 Questions to Ask an Outsourced Accountant
1. What are the services you offer?
You may have come across the range of services on the firm’s website or social pages. However, you need to know more about other value-adding services they offer.
For example, does the firm offer personalised tax solutions for your business needs? How can the firm help my business transition from an hourly-rate service to having a full-time outsourced accountant?
When discussing these details, it is also wise to ask if they have lock-in contracts.
2. Do you have experience working with small businesses and our industry?
Ask how the firm usually serve small businesses, especially those in the similar industry as yours. This gives you a grasp on how they handle your accounting/bookkeeping needs. It is crucial that the outsourced accountant fully understands the challenges of managing a small business. They should be able to help you come up with solutions that work best for your situation.
3. What are the systems or tools you use?
Having the same system or tools makes the workflow and data sharing seamless. These tools are not limited to cloud accounting software (ie. Xero, MYOB, etc.). It must include IT security tools or systems to ensure data confidentiality.
4. How can you help my business grow?
An outsourced accountant can be a valued adviser for your business if he/she truly understands your business structure. A great accountant can help you structure a financial model from the ground up to grow your business.
5. What is your fee structure?
Assess if the fee structure is aligned to your financial capacity. Sometimes, it is more costly to have hourly rate services from the firm. A good sign that an outsourced accountant gives you a great deal is when he/she:
- Asks the number of hours and/or days of the week you need to have the job done
- Gives you options you can take
6. How can I communicate with my outsourced accountant?
Make sure that communication lines are open in case you have urgent tasks to accomplish. Emails are the common ways to communicate with the outsourced accountant. But it is wise to have other means of direct communication.
Do not forget to ask if there is a backup accountant in case the one assigned to your business is unavailable.
Let us help you find the right outsourced accountant for your business!
Our accountants are all Xero qualified. Message our team today at bbsi.admin@beale.net.au or give us a call at 02 9979 5033 to start outsourcing your accounting and bookkeeping tasks.
