the right business accountant for arizona company

Choosing the Right Business Accountant for Your Arizona-Based Company

Choosing an accountant is a major decision for any business.

Fortunately, there are plenty to choose from.

With over 1.3 million accountants in the US alone, it’s one of the most common career paths that require a degree.

However, accountants handle finances for businesses, which means there’s no room for error.

Luckily, we can help with that.

Here’s what you need to know about choosing the right business accountant for your needs!

Determine Your Accounting Needs

First, what exactly are you looking for when hiring an accountant?

Different accountants and accounting firms can offer a wide variety of services, including:

  • Bookkeeping
  • Maintaining and drafting business financial records
  • Business analysis and reporting
  • Financial projections
  • Tax preparation
  • Implementing new accounting systems

The list goes on.

Before choosing accounting services, you should identify your business needs and find a qualified accountant who offers the services you need.

Moreover, do you need specialized accounting services?

Some enterprises may benefit from more specialized accounting services.

For example, you may need an accountant that specializes in nonprofits or public trusts.

This is something to consider, as you may need to hire a specialist.

Choose a Structure

Next, you’ll want to decide between the different options for accountants available to you.

There are in-house accountants, freelancers, and accounting firms that can come at varying prices.

An in-house accountant or accountant team will be with you during business hours, and you’ll always have access to them.

However, you will have to pay for their salary, benefits, and liability costs.

Keep in mind the average salary for full-time accountants exceeds $77,000 per year.

A freelancer will charge more per hour, which could range from $40 for basic bookkeeping services and up to $75 to $200 an hour for more comprehensive accounting services.

Still, you would likely save money if you only need them for a certain amount of time each month.

Finally, an accounting firm may charge similar rates to freelancers, or they may charge a flat monthly fee for managed accounting services.

They’ll also have similar accessibility during business hours as a full-time employee.

However, they’ll offer a team of dedicated accounting professionals with varying qualifications for a more well-rounded approach to your accounting needs.

Read Reviews or Check References

If you decide on an accounting firm or freelancer, it’s a good idea to check their online reputation.

We’re fortunate enough to live in a world with access to previous client satisfaction and feedback before purchasing.

This only helps you make better business decisions, so use it to your advantage.

Start by reading online reviews of the company or professional to gauge customer satisfaction.

Don’t judge by “stars”, but rather read through reviews.

One-star and five-star reviews mean nothing without context.

Most accounting firms will have a testimonials page on their website, which is a good place to start.

From there, you can search for them on Google if you need more information.

However, an even better measure is to check references.

Whether it’s a firm, freelancer, or employee, references allow you to control the questions, such as:

  • How satisfied were you with their services?
  • Would you recommend them to a close business partner?
  • How communicative were they?
  • What issues, if any, did you run into?
  • How effective were they with XYZ?

This is the best way to narrow your search based on the criteria most important to you.

Look at Qualifications

Once you’ve narrowed your search, it’s time to look at their qualifications.

Depending on your needs, they may need special licenses or credentials to be the right fit for your position.

Depending on your needs or standards, you may want someone with a specialized credential, a certain amount or type of experience, or other qualifications.

If so, specify this in your job posting or look at the qualifications mentioned on the firm’s website.

If that information isn’t available, reach out and ask!

Compare Costs

Of course, you need accounting services that match your budget.

Once you’ve found accountants that meet your needs, it’s okay to start comparing accountant fees and weighing your options.

Part of this should involve choosing the accounting structure you want.

Again, freelancers, accounting firms, and full-time accounting staff will vary widely in costs.

However, if you’ve decided on a structure, you may want to compare costs between them and see what works out in your favor.

Typically, an accounting firm will offer the best rates for small and medium-sized businesses.

This is especially true when considering the amount of work and diversity of services they offer while you share the costs with other enterprises.

Some firms may have their pricing available on their websites.

For others, you’ll have to schedule a consultation to discuss what you’re looking for.

Either way, see what services work best for your needs and get started!

Choose the Right Business Accountant Today

Choosing a business accountant is a serious decision for any enterprise, and you should not take it lightly.

Your accounting services have a direct impact on your bottom line, so take your time until you find the right fit.

If you’re unsure, it never hurts to reach out and ask questions before jumping into anything.

Stay up to date with our latest tips for your enterprise, and don’t hesitate to contact us with any questions or for help with your accounting needs!


Are you looking to hire an accountant?  Master Accounting provides expert accounting and tax services in Phoenix, AZ, and surrounding areas. Contact the experts at Master Accounting for a free initial consultation! Call (480) 456-4999 or submit your request online here.

 

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