If you are looking to hire an accounting firm for your business, then you’ll want to know what the process is like. The best way to ‘fast-track’ the process of sourcing an accounting firm is to contact the executives at MBA Financial & Accounting Solutions. Our accounting team will help assist with any question you may have, and give you a FREE Here, we will take a look at what an accounting firm does, why they are important, and the types of accounting firms that you should consider.
What services does an accounting firm provide?
Accounting firms can provide your business with a wide range of financial services that allows you to focus on the more important parts of your business. Here is a look at some of the major services provided by a typical accounting firm:
Perhaps the primary job of an accounting firm is to provide general financial recordkeeping for your business. Usually, the accounting firm will gather up the work from a bookkeeper and double-check their work. From there, the accounting firm will secure this information and make it easy for you to get the information when you need it.
There will come times when you will need to talk to a financial expert about a certain aspect of your business. For instance, you may be interested in expanding your business, purchasing a competitor, selling the business, or taking out a major loan. An accounting firm will be able to look at the financial numbers of your business and provide you with a recommendation as to what you should do next.
If you have employees, then an accounting firm will be able to handle the paychecks and the overall compensation of your employee. This also includes dealing with expense reports, bonuses, and other forms of compensations.
Chances are that your business has to deal with a number of bills. Your accounting firm will be able to stay on top of your company’s obligations and make sure that everyone is paid on time and in the right amount.
Tax season can be a stressful time for a number of businesses. However, if you have an accounting firm that offers tax preparation services, then you will be able to rely on a team of experts who will make sure that your taxes forms are filed and that all of your tax obligations are taken care of.
Communication Is Key
One of the main benefits of dealing with a good accounting firm is the fact that they will be able to easily communicate with you. For instance, they will be able to inform you right away if there are any financial discrepancies in your books. They can let you know if your business is owed money. An accounting firm will also be able to make you aware of any tax deadlines or financial obligations that you need to take care of.
Many accounting firms will have a platform that will allow them to communicate with you easily and allow you to ensign paperwork. This will save you the trip of having to visit your accounting firm every other day.
Knowing Your Business Is Important, Too
A good accounting firm should be well familiar with your business. For instance, if you own medical practice, then you will want to work with an accounting firm that specializes in working with medical offices. These accountants will be familiar with the specific accounting challenges associated with your business.
Virtual Accounting Firms
There are cases where you may want to consider working with a virtual accounting firm. With virtual accounting firms, you work entirely online with your account. For some businesses, using a virtual accounting firm can be easier to deal with on a daily basis.
- Bookkeeper.com – Works with Quickbooks and offers tax prep and payroll add-ons.
- Merritt Bookkeeping – Syncs with Quickbooks and offers basic accounting services.
- Bench – Uses its own in-house software and offers tax prep add-on services.
- InDinero – Syncs with Quickbooks and NetSuite. The company offers CFO and tax prep add-on services.
Finding the right accounting firm for your business
An accounting firm is your company’s finance expert who is going to be able to record and manage your company’s financial transactions. Some accounting firms will also be able to advise you on your business operations. It is understandable, that sometimes, we simply do not know which direction to go in. MBA Financial & Accounting Solutions has been labeled a Top 10 Accounting Firm in Los Angeles, and can help you with a FREE consultation to set your path in the right direction with an accounting firm you can trust. Simply call 800-576-5746, and we will happily be able to assist you.