Accounting is a crucial aspect of any enterprise. As a business owner, you have to know the basics of the subject so that you can understand your company’s financial status, especially with profits, expenditures, and taxes. However, most entrepreneurs hire professionals to handle the day-to-day accounting operations.
With the significant role that accounting has on the success of your venture, you must make sure to hire reliable accountants. Regardless of whether you hire an in-house team or outsource the process, the people you employ must have the technical skills and knowledge to perform their responsibilities effectively, as well as soft skills to ensure harmony within your organization.
Here are the qualities of a reliable accountant that you need to consider during the hiring process:
While trustworthiness isn’t easily quantifiable, there’s a reason why you should interview candidates in person as much as you can. When you are able to talk with applicants face-to-face, your instinct can help you evaluate their character based on their gestures and other non-verbal communication factors.
Of course, there will be masters of deception who can charm their way out of any tight situation. You can address this by incorporating personality tests in your application process. This way, you can gauge their reliability better, as well as assess whether the candidate will be a good fit in your company culture.
There have been plenty of business horror stories where owners are deceived by their accountants by funneling resources secretly to their personal pockets. You can avoid this type of risk by prioritizing honesty in candidates.
- Attentive To Detail
Working with numbers can be tricky, especially when dealing with tiny commas and decimal points. The accountant you hire must be attentive to details because the slightest mistake on your accounts and ledgers can lead to significant losses in profits.
Keeping meticulous records is one of the top financial management tips for entrepreneurs. Your accountant should help you maintain accurate books to preserve the solvency of your business and avoid complications with the government.
Aside from being observant when working on your ledgers, an accountant also needs to be privy to the accounting laws in your state and country. The legal system can be complicated, so they must be proficient in the rules and regulations set by the local and federal government concerning taxes and other accounting related matters.
Another trait that’s challenging to quantify or witness is someone’s work ethics. The interview process doesn’t give you enough time to assess if the applicant is industrious. Fortunately, you can conduct background checks with their previous employers to get a holistic idea of how well they worked for other companies.
Having industrious people in your team ensures smooth sailing operations. Productivity is maximized, which means that you get a return on your investment.
While you can’t expect employees to be as emotionally invested in your enterprise as you, you should still prioritize hiring hardworking people who genuinely want to see your company flourish. Monetary compensation plays a significant role in attracting the right talents, but other factors, such as company culture and employee appreciation, affect the process as well.
You don’t necessarily need a genius accountant in your team. However, the person who will end up handling your bookkeeping should enjoy learning. They must stay updated with the latest trends and knowledge in their field so that they can apply the methods or tools for the success and efficiency of your company.
They should take continuous learning and acquiring the proper certifications seriously. The appropriate industry knowledge can make them handle your finances more accurately. With this, you can be sure that your company is in the right hands.
Lastly, find someone who can express their thoughts well in written or verbal form. Your accountant should be able to relay information to you quickly and concisely, especially when matters are urgent.
There are lots of accountants who are adept at dealing with numbers. However, that is not enough. You must look for a person who will give you valuable insight into the current state of your books and provide advice on the things that you can do to steer your company in the right direction.
Accountants play a significant role in the success of businesses. You must hire someone who is reliable and trustworthy, regardless of whether you’re enlisting the help of an accounting firm or forming an in-house team. An accountant must be attentive to detail, hardworking, studious, and communicative so that they can provide the appropriate support to your company.
Bree Porter provides accountancy services to start-up and small-scale business owners. Bree works by making sure that her clients have enough financial resources to keep their businesses afloat, prevent debts during their operations, and ensure that their books are up-to-date.
Bree loves to write articles about business accounting online to help more people understand how important this facet is to every entrepreneur.