Selecting the right type of accounting service is a crucial decision. If you have just launched your business, it is important to keep track of your finance and accounting. You should choose an accounting firm in Cape Town that consists of Certified Public Accountants who are capable of providing clear and relevant advice.
You should choose a company which is experienced in handling a wide variety of clients starting from individuals to the medium-sized business organisations. The accounting firm should also have proficient knowledge of tax and financial chores. Here are 5 important things that you should consider before selecting an accounting firm for your company. The details are discussed below:
1. Accounting Fees
Charges or fees of an accounting firm depend on various factors. Some accountants charge a set fee for each financial task they need to perform like filling in personal income tax forms, calculating profit and loss statement, compiling a statement of net worth and many others. You can also get charged by every phone call you make to the accountant. The charge also depends on the business specialties as well. A good accountant usually specialises in a few business areas to give the best service to their clients. A retail tax accountant cannot help a farmer. To handle farm related matters, you need an accountant who has a great deal of experience in handling rural and agricultural clients. The fees also vary on these factors as well.
2. Certification and level of service
Accounting firms hire and train their accountants to assist their clients in filing income taxes in the correct way. For your greater accounting needs, you can select a firm which consists of certified public accountants or a CPA. Some accounting firms provide advice to their clients on how to purchase your business equipment and how to keep the financial records. This policy can vary. There are other accounting firms which offer necessary financial reports with little feedback. If you need a good amount of help you should select a company that offers in-depth financial counselling keeping in mind your needs and demands.
3. Level of their service
If you want a complete book-keeping service, then you should choose a firm that can handle day to day client transactions without any hazard. An accounting firm, who only employs certified public accountants, will charge more as the CPAs handle your routine bookkeeping tasks. Thus, it is always advisable to choose a firm that employs both the book keepers and CPAs.
4. Customer service
Some clients often feel the need to have a meeting with their accounting firms for problems related to tax filing and others. Clients can also have some important business questions that require a timely answer. Thus, you should select an accounting firm who has the reputation of providing good quality customer service. You should feel comfortable discussing your financial issues with your accountant. If the accountant seems less knowledgeable or if you feel intimidated you should choose a different accounting firm.
Consider the above factors when you are choosing an accounting firm and your work will be done smoothly.