If you run a small business, you may have decided that the time has come to look for a company offering accounting services to lighten your load. Operating a business is hard work, but a good quality firm of accountants can help to make the day to day running of your company a lot easier. But how do you go about choosing a good firm of accountants? 1 Accounting is such company and below is a simple guide showing you what make them to be considered as a good accounting firm in Singapore.
If you have any friends, family members or business connections that have already used accounting services, you should ask around for recommendations. Choosing a company that has already proved themselves to be reliable, trustworthy and competent for someone within your circle of acquaintances is a good idea as they are already tried and tested. If you have no one that you can ask for a recommendation, you could ask your banker or attorney to point you in the right direction with a referral.
Once you have received your recommendations and referrals, you should interview your shortlisted accountants before making a final decision. It is important to make sure that the firm that you choose is a good fit with your business and that they can offer you the level of service that you require. Before arriving at your first interview, make sure that you are clear about which accounting services you require from their company, and draw up a list of questions that you need answering. Here are some areas that you should query:
- Range of services
Range of Services
If you are looking for complete accounting services, you will need to choose a firm that offer a comprehensive range of financial assistance from tax and auditing to bookkeeping and managing investments. Not all firms offer a full range of services, so you need to make sure of which areas they cover before making any decisions.
No matter how qualified your chosen accountant is, if they are difficult to get on with, the relationship just isn’t going to work. It is important to trust and forge good working relationships with your company’s accountant, so if there is something about their manner that you just don’t like, look elsewhere.
You should ask your prospective accountants questions relating to how they would handle different financial issues. You can tell a lot from their answers. Would they handle affairs in a manner that fits in well with the way you like to handle business? Are they a good communicator? Can they explain the way they would deal with the situation in a way that you can easily understand?
You need to establish whether the fee structure is based on an hourly or monthly rate. It is important to get a range of quotes from all prospective firms and evaluate them all. Remember that the cheapest quote may not necessarily be from the best company for you. You should take into account all the other factors before making your final decision.