How to Choose the Best Accountant in Australia for Your Business
From keeping your books and handling your taxes to educating and advising you on investments, an accountant can be beneficial for your business in a number of different ways. If you make the right choice, they could also become a trusted consultant your company could depend on through various stages of growth and development. However, with so many qualified professionals and reputable firms in Australia, it can often be difficult to make the right decision. So, here are some tips that will help you find the best, most suitable accountant for your business:
Where to find an accountant
Obtaining a referral from another business you know well and trust is often a good way to find a great accountant. Social media can also be useful for recommendations, especially Facebook and LinkedIn, as well as contacting professional bodies such as the Institute of Public Accountants (IPA) and Certified Practising Accountants Australia (CPA Australia). No matter how you find an accountant, keep in mind that selecting the right fit for your company is quite a personal and individual decision, so try to interview several candidates before making the final choice.
The type of service you require
Different accountants will provide a diverse range of services, the same way each company could have varying needs depending on its size and area of business. For instance, you might need a tax accountant that will ensure compliance with laws and reduce your tax burden, a bookkeeping service that records your day-to-day business transactions, an advisory accountant to help you manage your company more efficiently through budgeting and coaching, or even all of the above. Before deciding on the most suitable accountant for your business, it might be best to determine the exact types of services you require.
Where to find an accountant
Obtaining a referral from another business you know well and trust is often a good way to find a great accountant. Social media can also be useful for recommendations, especially Facebook and LinkedIn, as well as contacting professional bodies such as the Institute of Public Accountants (IPA) and Certified Practising Accountants Australia (CPA Australia). No matter how you find an accountant, keep in mind that selecting the right fit for your company is quite a personal and individual decision, so try to interview several candidates before making the final choice.
The type of service you require
Different accountants will provide a diverse range of services, the same way each company could have varying needs depending on its size and area of business. For instance, you might need a tax accountant that will ensure compliance with laws and reduce your tax burden, a bookkeeping service that records your day-to-day business transactions, an advisory accountant to help you manage your company more efficiently through budgeting and coaching, or even all of the above. Before deciding on the most suitable accountant for your business, it might be best to determine the exact types of services you require.
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Look for experience and expertise
Apart from finding the right type of accountant, your company will also need a professional with plenty of expertise. For that reason, many Australian businesses tend to hire an experienced accountant from Sydney that is well versed in more than one field. Such an expert will be able to offer a wide variety of services, including accounting, tax, and bookkeeping, as well as special software skills that might help your business with training, payroll, and other employment issues. |
As a result, you will have more time to devote to streamlining your business practices, possibly leading to lower overall costs and higher revenue.
Make qualifications a priority
Of course, businesses also need to ensure the accountants they work with are formally and appropriately qualified, in order to comply with the law. In Australia, qualified accountants are regulated by specific professional bodies, with the largest ones being Certified Practicing Accountants (CPA) and Chartered Accountants Australia New Zealand (CAANZ). If you’re in need of a tax accountant, it would also be wise to check whether they are a registered tax agent by searching through the Tax Practitioners Board Register, as only registered agents can legally perform the necessary tax preparation and returns lodging duties.
Ensure a good personal fit
Qualifications and expertise aren’t the only important factors. When searching for an accountant for your company, you also need to ensure they are a good personal fit for your business. This means opting for an accountant that aims to maintain clear and open lines of communication, a professional that can explain each issue in a simple and comprehensible way, as well as an individual who fully understands the scope of your business. Only a forthcoming, communicative, and knowledgeable person like that should be a part of your company.
An accountant should be a core team member in your company. As long as you choose a professional, experienced, and reliable individual, not only will they manage the necessary accounting tasks, but they will also offer practical advice to support your business growth and success.
Make qualifications a priority
Of course, businesses also need to ensure the accountants they work with are formally and appropriately qualified, in order to comply with the law. In Australia, qualified accountants are regulated by specific professional bodies, with the largest ones being Certified Practicing Accountants (CPA) and Chartered Accountants Australia New Zealand (CAANZ). If you’re in need of a tax accountant, it would also be wise to check whether they are a registered tax agent by searching through the Tax Practitioners Board Register, as only registered agents can legally perform the necessary tax preparation and returns lodging duties.
Ensure a good personal fit
Qualifications and expertise aren’t the only important factors. When searching for an accountant for your company, you also need to ensure they are a good personal fit for your business. This means opting for an accountant that aims to maintain clear and open lines of communication, a professional that can explain each issue in a simple and comprehensible way, as well as an individual who fully understands the scope of your business. Only a forthcoming, communicative, and knowledgeable person like that should be a part of your company.
An accountant should be a core team member in your company. As long as you choose a professional, experienced, and reliable individual, not only will they manage the necessary accounting tasks, but they will also offer practical advice to support your business growth and success.
