Hiring an accountant in Toronto has no longer just remained the task of finding someone good at numbers. Why? As the role of accountants has dramatically changed in recent years. Nowadays, accountants have a lot to do than just filing the tax returns. Accountant in Toronto for small business is also high in demand nowadays. Businesses need to take risky decisions today, and the qualified accountant can help them biting the bullet. The question is: How can you find a reliable bookkeeper in Toronto? Here are our top 10 tips that will guide you on how to find the one:
Tip #1: Get Referrals
If you ask business owners how they recruit accountants in Toronto, then many of them will reply that they hire them through the ‘WOM (Word Of Mouth)’. So you may ask a friend: Do you know an accountant who is good at accounting? If a friend knows about an accountant doing the job well for many years in an organization, then he/she may refer to you about that accountant; so you can trust your friend’s referral.
Tip #2: Understanding the Business Needs
The accountants in Toronto should also understand the needs of a business. The right accountant will know how to handle the books, file taxes, and give useful advice to the business owners. Loads of business owners today go to their accountants before visiting their lawyers, as they have sufficient knowledge of leases, franchise agreements, cash flows, balance statements, and lots more.
Tip #3: Go for Licensed Accountants
There are three professional accountancy designations including CAs (Chartered Accountants), CMAs (Certified Management Accountants), and CGAs (Certified General Accountants). Each of the preceding designations has distinct educational requirements and duties, but individuals qualified for the preceding designations are accountants that can be trusted to manage the paperwork for organizations.
Tip #4: The Availability
As a business owner, one may need to be in touch with the accountant more often than not. So the availability of the accountants is a thing that should matter a lot to the business. Some of the accountants are available pretty much round the clock in Toronto, while some of them have a very busy schedule. The accountants with busy schedules will not work for you if they have a lot on their plates, especially if you run a large business. So you should go with the accountants who are easily available when you need them.
Tip #5: Ask What They Will Charge You?
You will need to find out about the price that different accountants charge to a business like you. Some of the accountants will charge you by the hour. Sometimes, they will charge you for advising you. You will need to compare the hourly rates of the accountants you approach to do bookkeeping for you and go for the accountant charging you the least price in Toronto. You can also bring a copy of your tax returns to an accountant whom you wish to hire to get an idea of the cost of his/her service.
Tip #6: Seek Accountants’ Clients for Know-How
The references and professional association with clients who may have used the accounting services of an accountant in past in Toronto can tell you whether the account is capable or not. If there are complaints with the accountants or some issues with the accountants with whom disciplinary actions have been taken in the past, then you should not trust such accountants.
Tip #7: Is the Accountant Up-to-Date with the Latest Technology
The spreadsheets and much of the other accounting paperwork is now done through computers and digital filing. The paperless accounting also saves time and money. The best accountants will be up-to-date with the latest tech (technology) for accounting, in addition to computers.
Tip #8: Find If the Accountant Has Been a Business Owner in Past
It is not vital for an accountant to be a business owner in Toronto. It will be a plus for you if you hire an accountant with the know-how of a business, as such an accountant will be capable of dealing with the problems that a business may face with flying colors.
Tip #9: Choosing an Accountant Who Does Not Put Clients on Risks
Some of the accountants may be very aggressive in terms of tax compliance that may put clients at risk, so you cannot rely on the services of such accountants in Toronto. On the other hand, some of the accountants may be aggressive without putting the client ar risk, you can trust such accountants.
Tip #10: Great Advisory Services
Go for an accountant who can provide you a useful piece of information across an idea, concept, and article that may benefit your business.
Hiring an accountant in Toronto is not a bothersome task if you keep 10 tips in mind. Firstly, you should get referrals from others to find a trustworthy accountant. You should go for an accountant who understands the business needs and who is a licensed accountant. The best accountant will usually be available to you more than often and will not charge you too much per hour. Also, find out about the reputation of accountants that you want to hire from their previous clients. Uncover if the accountant has been a business owner in past and understands the latest technology. Choose an accountant who does not put the clients at risk. Lastly, go for an accountant who can give you satisfactory advice for your business.
By Jackson Kevin
who has written this article. He writes about lifestyle and Health and he also writes a blog on accountant, in a magazine. He’s a fanatic of all possessions science.
Do you enjoy writing and have something interesting to share?
You are at the right place. Inspiring MeMe is the world's fastest growing platform to share articles and opinions. We are currently accepting articles, blogs, personal experiences & tips and would love to have you onboard.