How to Choose the Right Accountant for Your Child Care Business
Your accountant should be looked at as a valuable member of your professional team. A qualified accountant can provide you with advice on your accounting system, tax planning, estate planning, and financial management. What should you look for when choosing the right accountant?
Use the 50% Rule – make sure that at least 50% of your accountant’s clients are small business owners. And, if the accountant has other child care business owner clients, this would be a plus.
Referrals – one of the best ways to find a good accountant is to ask other child care business owners who they recommend.
Interview – make sure you interview several accountants face-to-face. Some good questions; How long have you been in business? Do you have other child care business clients? Do you understand the child care industry? How many people work in their office? May you speak with some references? It is important that the accountant is willing to and can explain your financial information in a way you can understand. Only hire the accountant that you feel comfortable with and you feel will enjoy working with.
Fees – make sure you have a clear understanding of all services you will be expected to pay. Many accountants have a written fee schedule. And, based upon the size of your business, and the services to be performed a close cost estimate can be provided.
Computer System – ask what type of computer software system they prefer you keep your business financial information. Often times, you can save money by using a software system that the data can be exported to the accountant.
Bookkeeper, Accountant, and Tax Preparer – it is often easier to use an accountant or accounting practice that has the personnel to assist you with the bookkeeping, preparation of financial documents, and prepare your business taxes instead of having a separate bookkeeper and accountant.
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