Making the decision that you finally need an accountant for your business is a big step for any growing company. Before you go through the rigorous hiring process, you have to ensure that essential information regarding the finances of the business is in safe hands. It is likely that most companies will first check the search engines to try and get an accountant from the various accounting services in Singapore.
Like how we run to get reviews when getting other essential services, it is also advisable also to do the same when hiring and managing the payroll in Singapore. You should dig deeper to know the kind of person you are about to add to your team. Been at the helm of financial records of the company, an accountant will have the essential information about the business. That is why you cannot overlook the need to have a person of high integrity. The person you hire has to be honest and capable of withholding the company’s information and only give it to those who should have it. Getting this information to the wrong hands can damage the business.
There are factors that you consider in choosing an accountant. They include:
Certification and Experience
Passing the Certified Public Accountant (CPA) exams is a complicated process. While all CPAs are accountants, the same cannot be said for all accountants in general. They are not all considered CPAs. Ensure that your accountant has the right training to meet the demands and expectations of the accounting profession today. Even if they have been to colleges before and gone through the rigorous exam processes, they should also take continuing education and courses in professional development to remain licensed, certified and at the top of the changing rules and regulations in the landscape of accounting.
With all said, remember that there is nothing that exceeds experience, to ensure that your prospective employee has handled accounting and tax work before. Practical experience is second to none.
Thanks to fast technological advancements, the software of accounting have become more elaborate, including automation and numerous features of time-saving. Technology is transforming accounting into a dynamic and fast-paced industry. Accounting software such as Quick Books online is improving productivity because it performs accounting activities that are tedious and reduces one’s margin of error with one click of the mouse.
Another strong accounting feature is the convenience it gives by accessing real-time information wherever you are without sacrificing the security of your business. With a knowledgeable accountant who is well versed with cloud-based business management and accounting tools, can assist you efficiently to automate business processes and provide you with financial visibility.
It is essential that you get an accountant who pays attention to details and recent trends in accounting can genuinely understand and connect your business. It is crucial that your company receives a lot of support that it requires and you are also comfortable with those who handle your accounts. Remember that the roles of your accountants do not end at preparation and tax planning; they should also be your trusted advisors in business matters. They can be advisors whenever your business is facing uncertainties and help you to make sound business decisions whenever you need some guidance.
As a business person, time is money, selecting the right accounting firm in Singapore can help you save more time, allowing you to get ample time to focus on achieving your business goals. For example, some accountants can be willing to do payroll and bookkeeping besides the usual services that they provide the business. Others will only stick to the core roles, like tax filings and financial statements. Before hiring one, you need to evaluate your strengths and weaknesses to know which your strong points are so that they can help you free more time to use it in running and growing your business.
Although technology has opened up faster and convenient ways of handling information, a lot of risks and threats have also come into play. It is paramount that you get an accountant who maintains the security of your business by keeping any sensitive information safe.