As a business owner, you probably appreciate the wisdom in engaging the services of a professional firm for your companyâ€™s accounting and tax needs.
And the very-best accounting firms offer a full range of services, from start-up to exit strategy, and everything in between.
Bookkeepingâ€¦ periodic financial reporting that drives key business decisionsâ€¦ tax planning and filingâ€¦ payrollâ€¦ you name it.Â The best accountants can do it all.
But while a good accountant can provide you with the full suite of accounting and tax services, a great CPA is distinguished by the ability (and willingness) to customize their accounting services to those your business really needs.
And can afford!
Itâ€™s a smart move to make sure youâ€™re getting exactly what you need from your businessâ€™s accounting firm.Â No more, and no less.
How Well Does Your CPA Know Your Business?
Maybe youâ€™ve heard the expression, â€œWhen the only tool you have is a hammer, everything looks like a nail.â€
Thatâ€™s certainly true when it comes to many accounting firms.
In most cases, your accounting firm is well-intended, and theyâ€™re looking to help you solve problems and keep your business running smoothly.
But they only know accounting, and many firms will only offer you a â€œpackageâ€ of accounting and tax services designed as a â€œone size fits allâ€ business solution.
Does your business really need that whole collection of services?
Itâ€™s great when your accounting firm has the â€œchopsâ€ to offer the entire suite of services.Â But one easy way to tell the good from the great is to explore which firm seeks best to understand your specific businessâ€¦ and then has the willingness and ability to tailor their services to meet your real needs.
Meet with a â€œgoodâ€ accountant, and youâ€™ll quickly find they have a lot to tell you.
Things like what theyâ€™ve learned about the latest developments to the tax code, and what you should be doing about them.
Theyâ€™ll tell you about the other accounts theyâ€™re servicing, and about the money theyâ€™re saving their clients.
Theyâ€™ll tell you all about their firmâ€™s expertiseâ€¦ essentially, theyâ€™ll report to you about how much they know about their business.
But youâ€™ll know youâ€™re meeting with a great accountant when they do more asking than telling.
Great accountants ask a lot of questions, and do a lot of thinking before they recommend a particular offering of services for your business.
How long have you been in business?Â Who do you see as your ideal customer â€“ whatâ€™s the nature of your market?Â Whatâ€™s your overall budgetâ€¦ what accounting services can you cover in-houseâ€¦ and what are your long-range plans for the company?
A great accountant wants to get to know your business â€“ as thoroughly as possible â€“ before suggesting how their firm might best serve your specific needs.
A great accounting firm is a one-stop shopâ€¦ but they customize their services to the specific needs of your business.Â Make an appointment with your accountant today, and explore whether youâ€™re getting exactly the combination of accounting and tax services your firm needs.Â And as your business grows, youâ€™ll want to continue making sure youâ€™re getting just the right fit.