FACTORS TO CONSIDER
Every year, legislators make small changes and tweaks to existing compliance and tax laws that can leave businesses scratching their heads, prompting many changes across everything from cash flow management to minimizing tax liability. As a result, a financial decision is being made. Accounting firms are on a mission to stay updated with new tax laws. Many accountancy firms offer financial advice and help individuals and small businesses budget and set financial goals.
Whether you need someone to handle your weekly payroll, are simply looking for reliable tax advice, or to manage your finances. Before you hire an accounting firm, you should always ask a few basic questions.
One of the most important things to consider is connectivity. You can hire Christchurch’s most expensive accounting firm, but if you’re uncomfortable discussing Accounting Finance, you won’t get the needed services. If your accountant speaks terms you need help understanding, or if you feel intimidated, contact another firm. At Accounting Solutions, we want to be your financial business partner. We take a unique approach to working with our customers to achieve their business objectives and demonstrate high commitment—expertise, and ability to speak your language.
BUSINESS CONSULTING AND MENTORING
Some accounting firms provide quick advice on purchasing equipment and maintaining financial records, while others compile the necessary financial reports but need more feedback or knowledge. Of course, the amount of advice you need depends on your financial knowledge and experience. If you need a lot of help, choose a company that offers detailed financial advice. For example, accounting Solutions provide accounting expertise, wealth, and business advice to ensure you achieve your business goals.
Accounting fees may vary by company. Some accountants charge a certain set rate for each financial task they perform. At Accounting Solutions, we understand that every company’s financial situation is unique. That’s why we always meet with you to fully understand your company’s specific needs, discuss timeframes and tailor a pricing structure that works for you.
CHOOSE A CPA OR SWORN ACCOUNTANT
In New Zealand, accountants are regulated by professional bodies that administer the qualifications of accountants and seek to maintain high professional standards. A Chartered Accountant (CA) is a highly qualified professional who has completed a college-level study, work experience, and professional skills program.
The Accounting Solutions team is highly qualified and experienced, able to add value to your company from the start. We guide you as your business grows and help you manage everything from accounting and tax preparations to more complex cash flow management and capital raising tasks.
Tasks such as bookkeeping, tax preparation, and general financial management may not require a certified or licensed accountant. But if your business grows to the point where you need a credit or if you get audited, you will almost certainly need it.
Some clients are happy to meet with their accounting firm once a year for tax filing purposes. Other customers frequently have business questions that need timely answers. Find out if an accountant is available on the phone or if you need an appointment to come to the office and speak in person. Accounting Solutions is your business partner and is available to you as often as needed.
Some accountants suggest helping clients set goals and monitor financial progress. This is very helpful, especially if you are starting your business. Check your company’s policies regarding goal setting and whether there are additional charges for the service. At Accounting Solutions, our commitment and willingness to work with companies is part of our service because it is important to work in this way to achieve our client’s goals.
IRD AUDIT SUPPORT
With a report from the tax office, there is a sense of security that a tax accountant is by your side. For some small business owners and individual taxpayers, audits are part of everyday life, but facing an audit can be a stressful situation. Some accounting firms offer their own offices for auditing purposes and an accountant to represent your interests. Regarding operations such as financial audits, we prioritize relieving stress and giving you peace of mind so you can entrust us with peace of mind.
Accountants specialize in several business areas to better serve their clients. For example, a retail accountant may not be as helpful to a farmer as an accountant specializing in helping rural and agricultural customers.
Tax consulting firms hire and train tax consultants to help the general public with their income tax returns, but they must provide detailed advice to small businesses. The greater the need for bookkeeping, the greater the benefits of a general public accounting firm employing a Certified Public Accountant (CPA).
Some accounting firms quickly advise when to purchase equipment and maintain financial records, while others produce the necessary financial reports but provide little feedback. The amount of advice you need depends on your financial knowledge and experience. If you need a lot of help, choose a company that offers detailed financial advice.
LEVEL OF SERVICE
If you want full accounting services, look for a full-service accounting firm that employs accountants to handle day-to-day customer transactions. Accounting firms that do not employ accountants charge more when CPA performs routine bookkeeping duties.
Some accountants help clients set goals and monitor their financial health. This is very helpful if you are starting your business. Check your company’s policy on goal setting and whether there are additional charges for the service.
They know your accountant will be by your side when the Internal Revenue Service knocks are comforting. While IRS audits are routine for some small business owners and individual taxpayers, Facing an audit is a stressful situation. Some accounting firms offer their own offices for auditing purposes and an accountant to represent your interests.
Old-fashioned reviews have never been so valuable as a reference. Ask friends and business associates to find out which accounting firm they use and whether they would recommend it to others.