In Cyprus, there are lots of accounting firms that can cover your needs. But how do you define who’s the best fit for you? And how do you choose between them?
This whole process might appear a little overwhelming at first, but we have put together some simple steps you can follow to make an informed decision.
Define your goal and the reasons you are hiring an accountant.
People need accountants for different types of reasons. But making your reasons for hiring one, clear, is a vital step to hire the right person/firm.
Each company has a different legal structure. And when it comes to laws, regulations, and their consequences, it’s always wiser to get a person that has the appropriate knowledge to do the work. The accountant will probably explain all the different types of legal structures of a business, and how each structure differs. After this part, you’ll be able to choose the one that will best apply to you.
Maybe, you want an accountant for advice while writing your business plan. Writing a business plan combines variable aspects. When you need to set goals for everything you are about to embark on as a business, investing in financial help from a professional will surely work as a time saver.
Many businesses choose to start off without a financial advisor or someone to handle their finances and taxes. Instead, they do it themselves.
But if your business starts growing fast, then maybe you’ll need an expert to take over for you. Having an accountant work for you will not only give you a more holistic overview of your finances but will also be of value to any further decisions regarding expanding your business.
Make sure you conduct your research thoroughly before you reach out to an accountant. Or at least, just make sure that you know what you are asking for and what you aim to accomplish with this new step.
This will give them the ability to guide you and let you know if they can help you out with what you have in mind.
Previous work and testimonials
Here’s the part where you act as a detective.
It is widely accepted that a measure of reliability and expertise is someone’s previous work.
Just like in restaurants and hotels, you check the reviews, you should make sure you are checking testimonials and portfolios for accounting firms and individuals.
Due to the pandemic, everything is now shifting towards online communication. This means you might not be able to achieve face-to-face interaction at the level you would want to!
It is important to make sure you have good communication. And it’s also valuable if you are able to trust your accountant. They will be the ones managing one of the most vital aspects of your business – your finances.
Contact and set up a meeting.
Here come the big actions!
At this point, you probably have a list – of maybe 2 or 3 phone numbers – of people/firms that seem to appeal to you. Even if an accounting firm was referred to you by someone you trust, we’d suggest you call them anyway to set up a meeting and talk about your thoughts and needs.
There are lots of great accountants, but some of them have expertise in areas that you might not care about at this stage.
To sum up, the best experiences are tailored made.
What we mean by this, is that the best accountant for you is the one who can manage your specific situation. Therefore, it is beneficial that you put in the time, to make a successful investment. In this case, hiring the right person will save you time in the long run, bring expertise to the table, and experience to your business.
At Accountants Cyprus, we aim to give you all the information you need before hiring an accountant.
or call us at +70001710.