When you started your company, you looked to engage a “numbers person,” but now your firm’s challenges have become too great to handle without expert help of a different sort than you’re receiving from your current accounting firm.
Perhaps you want—
- To improve the financial function of your business;
- The data you need to grow your business; but, don’t seem to be getting from your current firm;
- Assistance in switching from cash to accrual accounting; or
- More sophisticated help with your financial statements.
Not getting these services may be an indication that it’s time to find another firm that’s more knowledgeable about your company’s specialty. Your growing enterprise needs to hand over responsibilities for taxes, accounting, and a host of other financial functions to people who know exactly what you need. You want long-term tax and business planning and access to a wide network of other professionals.
You are trusting your accounting firm with the financial future of your business. You want a firm that’s well versed in what you need — a firm that’s had other experiences with a variety of companies like your own. You want a financial perspective.
You think that you can benefit from the following:
- Regular financial review and planning
- Up-to-date accounting instead of just end-of-the-fiscal-year tax preparation
- A higher level of advice
- A professional look at your statements and performance
- Improvements in management reports
- Positioning your company for growth
- The critical advice an experienced accountant has to offer
- Expertise to guide your decisions as the company grows
With an accounting firm that’s focused on your business, you’ll be advised by someone who can help you—
- Recognize problems early before they have a chance to bring down your business
- Maintain your cash flow at acceptable levels
- Point out areas for growth by analyzing pricing, cash flow patterns, inventory management, and types of business financing
- Make wise financial decisions
- Provide training in business development, branding, content marketing, and social media
- Keep track of key health indicators on a day-to-day basis, such as gross margin, net profit, and aging accounts receivable
- Frequently dive into complex technical guidance
- Communicate and cooperate with others — like your employees, for instance
- Compile financial reports so you can get loans and investment
- Prepare tax returns quickly and accurately
Now that your business is growing in revenue and transactions, it’s more complicated and you see a need to move on. You want a firm that understands you and your company, is eager to work with you and appreciates your business — one that is authentic and makes a connection with you and what you do. Check with colleagues and other professionals about the kind of expertise you expect to hire.