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Hiring an accounting company can transform your company’s finances and help you grow and scale. Here’s what you need to know about how to choose an accounting firm that meets your needs.
How Do I Choose a Good Accounting Firm?
You can recognize a good accounting firm based on their values and the results they’ve delivered to past clients. Look for values like:
- Loyalty
- Integrity
- Strong Work Ethic
- A Growth-Oriented Mindset
- Accountability and Transparency
Look for these values displayed in a firm’s work, not just talked about. A good accounting firm will practice what they preach.
Factors To Consider When Hiring an Accounting Company
Some of the most important factors to consider when hiring an accounting company are:
- Your Industry
- Your Company’s Structure
- Your Current Staff
- Your Business’s Current Financial Health
For most companies in most industries, a full-service accounting firm like TGG Accounting is ideal.
What To Look for When Hiring an Accounting Company
When hiring an accounting company, pay close attention to the firm’s values, their results, their reputation in the industry, and the services they offer.
Understanding and Determining Your Business’s Needs
In many cases, the best way to know what accounting services your business needs is to consult an accounting firm. Contact TGG Accounting today to get insight into your finances and what accounting services would help your company grow and scale.
Choosing the Right Accountant Service
Choosing the right accountant service starts with understanding your needs. Here’s what to know about what accountants can do for you and how their unique services can benefit your company:
- A fully outsourced accounting team may be ideal for you if:
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- Your company is growing rapidly and you’re struggling to scale
- Your current financial team doesn’t have the experience or margin to handle the growth
- You’re currently in the process of exiting the company or are starting the exit process soon
- You’re not satisfied with your current financial statements and suspect that they have discrepancies
- Additional accounting services may be ideal for you if:
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- Your current financial team is going strong but needs supplementary assistance
- You need financial consulting services
- You need cash flow forecasting services
- You want more accurate and comprehensive cash flow forecasting
- You need a CFO
How To Know If an Accounting Firm Is a Good Fit for Your Business
Now that you know what to look for when hiring an accounting company, here’s how to choose an accounting firm that fits your needs:
- Look at your current financial department. Do you already have a finance team for your company? If so, you may not need to work with a fully outsourced accounting department. Instead, you may want to look to a team like TGG for certain services, such as our outsourced CFO option.
- Ask yourself if you need a specialist. If you’re in an extremely niche industry, a specialized accountant can be a valuable resource. However, most companies can benefit greatly from an experienced, well-rounded team with comprehensive work across a range of major industries.
Questions To Ask When Hiring an Accounting Company
Here’s how to choose an accounting firm by asking the right questions:
- Ask about the services they offer. The right accounting company for you should meet all of your needs, whether they be basic or more nuanced.
- Ask about their team’s certifications. Make sure everyone you’re working with has all required certifications and experience to be handling your finances.
- Ask about their plan for growth. Here’s what to look for when hiring an accounting company: a plan. You want a dedicated team that will help your company grow and scale, maximizing the value you get out of their services.
Our Best Tips for Choosing the Right Accounting Company for Your Business
Here’s what to look for when hiring an accounting company and our best tips for choosing the right fit for your business:
- The best accounting companies offer a diverse range of services. Look for a team that can meet multiple needs and eliminate the need to outsource to multiple different agencies. TGG can do everything from providing an accounting manager to an outsourced controller or CFO. Learn more about accounting manager vs. controller from our blog post on this common question.
- The best accountants for small business finance will prioritize your profits. Whenever we partner with a new company, we immediately take steps to analyze their current financial situation and find areas where growth is possible. We do more than just handle finances — we help them grow.
- The best accounting company has a track record of integrity. You want to entrust your finances to a company that will be upfront and transparent about the work they do. At the top of the list of what to look for when hiring an accounting company is a combination of loyalty, integrity, and a strong work ethic.
Sarah Lamond is a Consulting CFO with TGG. She focuses on improving company’s operating performance through strategic analysis of financial and other operating data. As a CFO, Sarah is responsible for developing financial and operational strategies as well as relying on metrics to maintain or improve business performance along with building relationships with clients. Her goal is to drive revenue and profitability for her clients while still providing insight, guidance, financial foresight and industry experience.
