Accounting and bookkeeping tasks can never be something that business owners enjoy doing. However, controlling your business finances and having a particular company financial scenario is essential for visualizing future opportunities and risks.
In the starting days of your business, accounting software can manage your bookkeeping and accounting needs. When a business expands, you have new customers, employees increase, and accounting becomes complex; you need to hire an in-house accountant or outsource. In the article, we will read about finding the right accountant.
A digital marketing agency is a business that outsources digital marketing efforts to companies according to their need. They are cost-effective marketing measures that help businesses promote their products or services online, generate leads, and hit marketing goals while offering opportunities for business growth.
Marketing aligns with financial goals, whereas accounts of marketing impact the profitability of a business. For example, a company made higher sales than usual but spent half of the amount on launching a marketing campaign, thus, affecting the business profits.
A marketing agency needs an accountant to analyze data and drive invaluable insights to increase profits, look for opportunities and risks, and advise on what activities to adopt for better results.
They also help in:
● Monitoring sales trends
● Tracking marketing expenditure
● Invoicing and accounts receivable
● Billing and accounts payable
● Maintaining compliance
● Recording business transactions
● Preparing financial statements
● Driving insights from the financial reports and planning business strategies
● Expense reporting
● Cash flow management
● Bank reconciliation
● Preparing and filing taxes
● Helping during emergencies like audits, delayed tax payment deadlines, etc.
Digital agency accountants need to have special abilities in handling technologies, besides academic qualifications, soft skills, and knowledge of your industry.
You can ask for referrals from friends, family o,r business associates. Words-of-mouth has always been a great marketing strategy for accountants. However, many are switching to digital marketing tactics. You can research their website and make a list of eligible candidates. Then arrange a face-to-face interview and ask questions to spot the right accountant for your business.
Qualification and certifications
The qualification and certification of a candidate are essential to understand their professionalism in handling business. The term “accountant” is not legally protected; anyone with little numeric skill can call themselves an accountant. However, you need to focus on whom to hire, a professional accountant or an unworthy individual.
Experience and area of expertise
Every business has its unique accounting requirements that may vary from others. Ask your accountant about their previous experiences in a similar industry and inquire about their specialization area. For example, you need to handle complex taxes, so an accountant specializing in taxes is the best choice.
Working in a digital marketing company means employees must be tech-savvy, and when it comes to an accountant, they must support automation for the best results. Different accounting software is available for accountants in the market that helps draw better insights into business data and generate error-free outcomes.
An accountant needs to do something more than just crunching numbers; therefore, knowing their soft skills is necessary. When we say soft skills, we mean their behavior, time management, communication, leadership, problem-solving, attention to detail, honesty, and other skills that help businesses run smoothly.
Ask your accountant about what services they can provide and see if they have the skills and knowledge to maintain compliance and help your business grow. Accountants need to provide necessary guidance and advice to industries in times of emergency, taxes, audits, and other situations.
Large companies deal with complex accounting processes when a small business requires daily bookkeeping tasks and tax preparation. Therefore, look forward to what services they provide and if it meets your company’s requirements.
Accountants may charge you a fixed fee for a service or a rate per hour. Make sure you ask them about the fee structure and ways to pay them beforehand and avoid unnecessary expenses at the end. Additionally, it will help you understand whether hiring an in-house accountant is within your budget or if you need to outsource.
Knowing the location of the accountant matters during the hiring process. Someone with geographical limitations may not help you every time. Again, some accountants work on cloud accounting software and can connect you anytime. Ask about their actual availability before hiring them.
Choosing the right accountant for your business can be time-consuming and troublesome. However, you need to put in the effort to select the right professional as you hand over the most vital documents in their hands. A little mistake by an unworthy individual can make you pay a hefty price and affect your business image.