As a contractor, you need to hire an accountant to manage your data organisation and filing. An accountant that has poor accounting skills mismanages the data, or is bad at filing can be disastrous for you. When hiring an accountant, it is highly significant for contractors to consider some factors such as:
1. Experience/ Specialisation
Getting an accountant for a contractor with no prior experience or no specific specialisation means you need to teach him ABC of your business’s accounting needs. Had he already worked with the company or had specialised in contractor accounting, it would be easier to work with him. Therefore, looking for experience and/or specialisation really matters.
2. Communication skills
Accountants who have poor communication skills turn out to be poor accountants for contractors. Such an accountant might keep you unaware of important details. And so, you miss out on important data.
Thus, it is important to judge the communication skills of an accountant before offering him the job. This way, you can develop a good working relationship.
3. Services offered
This is what matters the most. Make sure you know beforehand what services accountants for contractors offer. Ask the accountant if he is willing to manage the entire accounting department or just a few services, such as regular filing?
Most accountants for contractors offer additional services such as annual tax planning, service guarantee, responding to enquiries within desired hours, etc.
4. Monthly fee
Consider the monthly fee you need to pay to the accountant. Accountants for contractors usually come with high charges as the nature of work is a bit different than regular accounting. For new contractors, it is often difficult to afford such a high fee. Therefore, it is important to decide the fee beforehand.
Keeping these factors into consideration is important to hire the right accountant for contractors!