Whether you’re just starting a new business or running an established small company, one of the most critical choices you’ll make is your accountant or bookkeeper. These financial professionals don’t just manage your numbers — they help you understand them. The right accountant or bookkeeper can save you time, money, and even prevent costly mistakes that could jeopardize your business’s future. “Uncle Willie” or “Cousin Mary” may be the family darlings and even volunteer to help out with your bookkeeping, but they need to be very capable to “show you the money”! While we love them, who you choose to manage your money should never be a personal decision. Yes, it may cost you more than expected – which is not to say that you have to spend a fortune for one. However, it may cost you a whole lot more if you don’t invest in someone to successfully manage your money!
This week’s blog post gives you an overview of the things to look for and consider. In next week’s posting (PART TWO) we’ll point out what to look out for, and what to avoid. In the following week after that (PART THREE), we’ll give a specific example tailored to the hospitality/meetings and events industry.
How do you choose the right one? Here’s what to look for:
✅ 1. Relevant Experience and Credentials
Not all accountants and bookkeepers are created equal. Some specialize in startups, while others are more experienced in industries like retail, hospitality, or professional services.
Look for:
- A Certified Public Accountant (CPA) license for accountants
- A certification like QuickBooks ProAdvisor or NACPB for bookkeepers
- Experience working with similar sized businesses and industry to yours
- Familiarity with your specific tax and compliance needs
Why it matters: Someone who knows the specific issues and nuances of your business type will expect issues before they come up. This is key, because those things will have a direct effect on important financial decisions.
✅ 2. Tech-Savvy and Up-to-Date
Modern accounting isn’t just about spreadsheets — it’s about software. A competent accountant or bookkeeper should be comfortable using cloud-based platforms and automating financial tasks.
Look for:
- Skill in tools like QuickBooks, Xero, FreshBooks, or Wave
- Experience with integrated platforms (e.g., payroll, POS, or e-commerce tools)
- A willingness to recommend or adapt to your preferred tools
Why it matters: A tech-savvy professional can keep the number of errors down, streamline your workflow, and give you real-time financial insights.
✅ 3. Clear Communication Skills
Your accountant or bookkeeper should be able to explain complex financial matters in simple terms. If they can’t communicate clearly, you may miss crucial information about your business’s health.
Look for:
- Patience and clarity when answering your questions
- A proactive attitude in providing updates or reports
- Comfort with both in-person and remote communication
Why it matters: Miscommunication in finances can lead to missed deadlines, penalties, or poor business decisions.
✅ 4. Transparency and Integrity
Trust is an absolute “must”. After all, you’re giving them full access and information of your financial situation.
Look for:
- Crystal clarity about the fees they charge (hourly, flat rate, retainer)
- A willingness to give references or reviews
- Strong ethical standards and confidentiality practices
Why it matters: A trustworthy accountant or bookkeeper protects your data, avoids conflicts of interest, and makes sure your business stays compliant. He/she looks out for you and your business’ best interests – without trying to dictate what those are for you! If they disagree with you, they need to be clear about why. Remember though, YOU need to make the ultimate decisions, and they work for you!
✅ 5. Availability and Responsiveness
If you only hear from your accountant at tax time, that’s a red flag. Your business’ needs may change quickly — and you need someone who’s responsive and reliable when you need them to be.
Look for:
- Clear expectations about availability and response times
- Options for emergency support or time-sensitive requests
- A team set-up that makes sure there is coverage if your primary contact is unavailable. That back-up must be equally knowledgeable and capable of stepping in when necessary.
Why it matters: Timely advice can mean the difference between grabbing an opportunity or missing it. It’s also critical that there is always someone who can give continuity if the primary contact becomes unavailable – in the short or long run.
✅ 6. Strategic Insight
The best accountants and bookkeepers do more than keep records — they help you affect the future. Look for someone who can help with planning and growth to match your longer-term goals.
Look for:
- A track record of helping clients increase profitability
- Experience with budgeting, forecasting, and tax planning
- Business insightfulness that contributes to helpful decision-making
Why it matters: Anyone may be knowledgeable in the mechanics of handling financial figures. A good accountant becomes a financial partner and planner who helps you make smarter, more strategic moves to help achieve your goals.
Final Thoughts
Hiring the right accountant or bookkeeper is an investment in your business’s financial health. Don’t settle for someone who only crunches numbers — seek a partner who adds value, gives you peace of mind, and helps you reach your goals. They should also be part of a team that works in similar ways so that you’re not left “high and dry” if one person suddenly disappears, even if that’s just temporary.
Give the person you choose a chance to see how they work for you. One important lesson to learn is that if you’re not getting the results you’re looking for your business – speak up! If it doesn’t work out, look for someone else. It’s not personal – it’s your business!
Ask thoughtful questions, ask for references, and trust your instincts. With the right financial professional in your corner, your business will be set up not just to survive — but to thrive.
So what do you look for in a financial manager or accountant? What other things do you look for? Please leave your comments and suggestions, “LIKE” this blog post, and be sure to subscribe to our blog (guaranteed – spam free!)
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