A perfect match: Finding the right financial accounting solutions for your business
The “Inc” business magazine describes an accountant as “someone who solves a problem you didn’t know you had, in a way you don’t understand.” While this is a bit hyperbolic, it does have a note of truth, which raises an important question: If you don’t fully understand the intricacies and complexities of accounting yourself, how can you determine which financial accounting solutions are best for your business?
When it Comes to Business Accounting Solutions, The Right Fit is Everything.
Finances are the lifeblood of any business. Filing taxes, balancing books, administering payroll, acquiring funding, managing expenses, paying duties—these tasks are critical to a well-functioning business, and leave no room for error. They also require an in-depth knowledge of your specific situation, your industry, and the relevant rules and regulations to which you must comply.
That’s why it’s extremely important to find an accounting firm that understands your business, your vision, and your corporate culture. Moreover, you need an accounting firm that you can trust without question, with a well-established reputation for providing accurate and value-added financial accounting solutions.
To Find a Firm that Fits:
- Know your needs. Before you start looking for an accounting firm, you should already have a list of requirements that you’ll need your provider to meet. Do you need a firm to help you plan, forecast, and ramp up for future growth – or prepare for eventual sale or succession? Do you need an authoritative source for auditing and assurance services? Do you need a firm to handle day-to-day bookkeeping or payroll needs? Do you need to prepare financial reports for board members or investors? What sort of turn-around time will the firm need to accommodate? Will they need specialized experience such as with international taxes, business valuations, or industry-specific business practices? You need to fully understand your exact needs before you can find the firm that fulfills them.
- Do Your Due Diligence. We’ve already established the importance of the accounting function for any business. Selecting an accounting solution provider should be considered a major business decision and, as such, be given the appropriate level of diligence. Take the time to get to know your prospective accountant and their team. This also gives you an opportunity to develop a sense of how well they understand your business and industry, and how well they fit in with your corporate culture. After all, business is conducted through personal relationships, and you need to feel comfortable with, and valued by your accounting provider. Ask for references and check them. Seek honest and insightful feedback from those who have gone before you.
- Consider specialties. While general accounting solutions may be sufficient for some companies, accounting firms that specialize in your specific needs or your industry tend to have first-hand knowledge and expertise that allows them to provide you with much deeper insight, strategic recommendations, and a greater level of service. A full-service firm with specialty divisions is much better equipped to handle your full spectrum of requirements.
To learn more about Fuller Landau’s areas of specialization, see our Industry and Services pages. For more information on our financial accounting solutions or to explore if we’re a good fit for your business, contact us today for a complimentary consultation.