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Financial Planning Insights

8 Traits of the Best Business Accountants

By Chad Chandler | | 0

When you hire an accountant to handle your business accounting, you don't just want somebody who is pretty good at their job or can merely cover all of the basics; you want someone who is an expert and who goes above and beyond in their work. 

Best Business Accountant

Choosing an Accounting Partner

But how do you separate a good accountant from a great accountant? By paying attention to the traits and qualities they possess before you decide to hire them. In this post, we will go over the top four traits of the best business accountants.

1. Trustworthiness

You're going to be hiring somebody who is handling all of your business money. Naturally, this person has to prove that they are totally transparent and trustworthy. One of the most straightforward ways to ensure that you've found an honest, trustworthy accountant is by looking at their track record. Talk to their current and previous clients. What do they have to say about the accountant? Talk specifically to other individuals who are also business owners and have had that accountant handle their business accounting. Ask the accountant for references and do your own researching by reading reviews and testimonials online. The accountant that you hire is not only handling your business finances, but they will be the middleman between you and the law. You don't want to end up hiring someone who not only isn't honest with you, but will end up breaking the law and putting you in serious legal trouble.

2. They Have Your Best Interest at Heart

The business accountant you choose should be totally focused on you, the client. The best accountants aren't just great at dealing with numbers, but also their clients. They should strive to learn everything that they can about you (the client), your business, your sector, and the industry you work in. Without knowing all of this, they simply can't be the best accountant possible. A huge part of having your best interest at heart and being focused on you, is being easy to communicate with and very responsive. Great accountants know how to smoothly communicate with their clients and answer all of their questions.

3. Impeccable Organizational Skills And Attention-to-Detail

Accountants have to be some of the most impeccably organized people in the world. Great accountants are almost OCD about organization, time management, and unparalleled attention-to-detail. You would be hard-pressed to find an accountant with a messy desk (and if you did, you wouldn't want to hire them). Look for accountants who are organized in virtually every area of their life. If they are meticulous and make organization a top priority, they will make the organization of your business accounting a top priority as well.

4. Commitment to Particular Sectors

When it comes to business accounting, the best accountants don't spread themselves across multiple sectors. They find just one or a small handful of sectors that they are passionate about and they commit to working those areas only. You want to find an accountant who has experience doing accounting for your particular sector. Lastly, you want the accountant you hire to be on your team-long term instead of having to find a new accountant every few years. Having an accountant with experience in your sector will make it easier to secure a long-term business accountant.

5. Help Identify Risk 

A good certified public accountant has the ability to go beyond and help you make the right financial decisions for your business. Other than you, the business owner, they have their eyes on all of your transactions. With the guidance of your CPA, they can ensure that you're compliant in all the areas you'll need to be, thus reducing your overall risk, and helping you sleep easier at night. 

6. Great Business Partner

As an extension of your operations, your CPA is a good business partner, aiding you in multiple areas of your business such as with tax planning, bookkeeping, risk assessment, payroll and much more. These services provide great support and structure to your business's existing financial processes. By taking advantage of these ongoing services, you can expect to see a great outcome due to the consistent focus and attention. Through implementing tax planning, you can see an even greater reduction in your tax liability through strategies that work for you. Services such as payroll and bookkeeping help you as the business owner to focus on the growth of your business while leaving these aspects to trustworthy and CPA professionals. 

7. Good Communication

Effective communication is a fundamental characteristic of a good accountant. The CPA and client relationship shouldn't merely be a transactional relationship. If you're a business owner especially, solid and consistent communication is a must. In order for your CPA to be an effective business partner, they shouldn't be in 'autopilot', but rather an active participant. The communication of financial information between client and CPA should be timely and regular. It's important that your accountant of choice has an efficient system in place to make this easier for you as their client. 

8. Constantly Learning

 Tax law is constantly changing, so it's important that your CPA partner is consistently educating themselves. New laws, taxes, and principles are being introduced all the time—so staying on top of the news is incredibly important. Though, tax law isn't the only thing that a good accountant will need to keep their eyes on. There are also constantly emerging technological trends in everyday modern life. As a business owner or otherwise busy individual, having a system that is easy to navigate and use is important. Especially if you're a business based away from your local CPA. Exchanging documents or payments are best done digitally these days, and the right CPA professionals will offer these services for their clients in order to make their lives a little less taxing. 

Find The Best Accountant For You

Looking for more information on how to find the right accountant to handle your business accounting? Feel free to contact us today to learn more about how we can help you. Don't forgot to check out our official website for a comprehensive list of all of our accounting services and keep reading our other blog posts for additional free resources!

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Chandler & Knowles CPAs is dedicated to serving our clients with an integrated approach to financial success for businesses, families and individuals. Our knowledgable team is committed to providing you with the most detailed information to answer your biggest financial questions and to help make your life less taxing.

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