Seven Tips On Choosing The Right Cpa For You
Choosing the right CPA for your individual needs takes time and careful consideration
. You must keep in mind several qualities that make every relationship, business or otherwise, work properly. Professional experience leads to expertise while communication and personality lead to a great working relationship. Keep these seven things in mind when choosing a CPA.
Examine Your Needs
Your individual financial issues will be the primary factor in choosing the right CPA for you. Everyone's needs are different. Just because the business down the street needed a payroll Accountant doesn't mean you do too. It doesn't hurt to call their Accountant to schedule an interview, but don't base your entire decision upon one person's recommendation.
Tip: Create a list of things you need from potential candidates. Ask each Accountant you interview how they can fulfill your accounting needs.
Professional Experience
After you've examined your specific needs, comprise a list of Accountants to contact for interviews. Accounting professionals are available in a variety of financial areas from accounts receivable to federal income taxes. The number of years a CPA has been practicing could make a major difference in whether you choose to hire them.
Tip: Ask each Accountant you interview about their educational and professional backgrounds. Put them in theoretical situations and ask how they would handle different situations. Alternatively, ask them to briefly describe the best and worst situation they've encountered and how they handled it.
Communication
Communication is a huge part of any business relationship. A Certified Public Accountant is required to obtain a Master's Degree in most states. This means their oral and written communication skills should be very well defined.
Tip: Ask each Accountant a specific question about finances or taxes. Test them on how well they communicate the answer in a way you can understand.
Personality
Individual personality ranks high on the list of tips for choosing the right CPA. Numbers are great and math is the only constant, but the ability to build a relationship with a client is something math can't fix. The ability to talk to your CPA and ask questions comfortably is paramount in choosing the right person for the job.
Tip: Ask each Accountant you interview about something mundane and slightly personal. Don't get overly personal or nosy; ask a simple question that should make them open up or laugh. Your goal is to make sure they have a personality for people as well as numbers.
Professional Duties
You should have your list of accounting needs handy at each interview. Discuss your needs in as much detail as possible and ask each candidate to explain how they can help improve your financial situation.
Tip: A great CPA can easily discuss the direction your financial future is headed as well as your past financial issues. Ask each candidate if they could share one piece of sound financial advice with you right now, what would it be?
Technology
Computers and programs help simplify business matters like nothing else can. Discuss different types of software that the candidate uses. Ask if they would recommend any specific software to help make your day-to-day operations easier.
Tip: A great CPA stays on top of the latest technologies that make their job more efficient. If you're aware of a great piece of accounting software, ask their opinion on it.
Referrals
As important as referrals are, we choose to place them last on our list. We fully believe that everyone has their own opinion as to what a good, bad or great Accountant is capable of. Don't mark an Accountant off of your list until you've spoken with them personally.
Tip: Listen to referrals but take personal opinions with a grain of salt. Consider the reliability of the source of each referral.
The Final Decision
Your final decision should not come lightly as these are your finances we're talking about. Discuss candidates with your partner or managers if applicable. Choosing the right CPA for you may require more than one interview with candidates. Don't feel that you're imposing on their time for additional information; they understand what a big decision it is.
by: Eugene Cohen, CPA
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