Choosing the right accountant is a big decision for any business. There are many factors to consider that can influence your decision, such as fees, location and software.

Ask potential Glasgow accountancy firms about their processes. Find out how they can help you save money and make your business more profitable.

Experience

It’s a good idea to check whether an accountant has been in the business for a long time. This will ensure that they are familiar with your business’s specific accounting needs and can address any problems that may arise.

You should also ask about the firm’s previous clients and industry experience. For example, if you are a travel company, you will want to know that your accountant is familiar with FIFO inventory systems and other features of the industry.

For smaller businesses, it is especially important to find a firm with extensive experience working with the industry you’re in. This can help you avoid issues that might arise from the firm not understanding the complexities of your industry.

Reputation

In addition to the accounting skills you want, you should look for an accountant that has a reputation for being trustworthy. This is crucial since you’ll be relying on this firm to make financial decisions that could affect your business in the future.

During your vetting process, ask potential accounting firms to provide you with references and testimonials from previous clients. You can also check their profile on professional networking sites like LinkedIn to see if they have a high number of recommendations and referrals.

Another thing to consider is how they price their services. Some accounting firms charge by the hour, which can add up quickly and can be difficult to keep track of for a small business.

Fees

Accounting fees can vary based on a number of factors. For example, some accountants may charge more for their services if they have a master’s degree or are Certified Public Accountants (CPAs). In addition, fees can also vary based on geographic locations and the amount of time spent on each project.

A good accounting firm should offer a wide range of services for both individuals and businesses. These can include everything from tax preparation to financial reporting and analysis. This kind of firm can help companies understand their financial status and identify opportunities for improvement.

Software

Choosing an accountancy firm that uses the same software as you will make it easier to share information. Look for a firm that offers the latest online accounting software and is compatible with your business.

The client management and document management features of Canopy allow for automated client onboarding, secure file exchange, transcript retrieval, tax resolution assistance and notice management. It also facilitates streamlined workflows and accurate time tracking and billing. It can also enable clients to process payments online and securely sign documents.