A good accountant can save your business thousands of dollars and save countless hours in your valuable time. Conversely, a poor accountant’s mistakes will eat into your profits, cause you ongoing, undue aggravation and can often land you in the scrupulous crosshairs of the Internal Revenue Service. With these important factors on the line, how do you go about selecting an accountant, especially if you have never used one before?

For starters, understand that the selection process will take some time. If you are in a hurry to find an accountant, you will likely settle on the wrong individual. You should budget anywhere from a few days to a few weeks for your selection process. The actual duration depends on the nature and complexity of your business as well as your schedule and candidate availability. When you are ready to get started, follow the steps below.

1. Prepare a business plan – A business plan is a roadmap for your business. At the highest level, a business plan defines your business strategy and projected financial direction. Having a business plan, even as a rough draft, is important since it will help prospective accountants better understand the nature of your business.
2. Define your accounting requirements – What types of assistance do you need from your accountant? Do you want just tax preparation or a complete package including bookkeeping, tax and financial planning, tax preparation and ongoing advice? By understanding your business and background, a good accountant can help you refine the services you need.
3. Make a list of prospective accountants – Begin your list by talking to friends and colleagues. Referrals are always a good starting point. However do not automatically choose an accountant simply because your friend Joe uses him. Due diligence is key in this process. Use the internet and accounting associations to help find quality candidates.
4. Make introduction calls – Call each candidate on your list. Introduce yourself and your business and ask them if they are accepting new clients. If so, schedule a 30 minute interview. Send them your business plan for review prior to the interview. Make sure to leave a message and ask for a callback if the person is not in the office. If they do not call you back within two or three business days, immediately cross them off your list. Do not even consider interviewing an accountant if they do not promptly return your calls.
5. Conduct interviews – Plan to conduct at least five to 10 interviews to make an educated decision. Cover the following questions during your interview:
• What services does the accountant offer? For example, does she only provide tax preparation or complete bookkeeping, tax planning and preparation?
• How long has the individual been a CPA? How many clients does she currently have?
• What are his specialties? Ask him to list his tax strengths as well as areas upon which he continues to improve.
• How would the accountant rank herself in terms of aggressiveness in looking for tax savings? Is she ultra conservative or extremely aggressive? You will likely want an accountant somewhere in the middle with a bias towards the aggressive side.
• What does he like best about his job? What does he like the least?
• How are fees structured and calculated? Does she require a retainer for her services? If so, how much?
• What experience does the individual have providing tax assistance for businesses in your industry?
• Off the top of her head, ask the candidate to provide you two or three immediate way
  Business Continuity Management: How Do You React When Your Business Continuity is at Risk?
  The biggest problem with owning a small business is that your life can be full of worry. I encourage my coaching clients to manage their potential risks. If you do the same, this will allow you: To identify which issues must be resolved to keep your business running smoothly and To ignore or forget your other worries.Identify your potential problems1. What are the critical factors in your business? Staff, supply chains, quality control, product delivery, cash flow … Type them into column 1 of a spreadsheet.2. What specific business problems follow a failure of each factor? Add
  an accountant, especially if you have never used one before?

  For starters, understand that the selection process will take some time. If you are in a hurry to find an accountant, you will likely settle on the wrong individual. You should budget anywhere from a few days to a few weeks for your selection process. The actual duration depends on the nature and complexity of your business as well as your schedule and candidate availability. When you are ready to get started, follow the steps below.

  1. Prepare a business plan – A business plan is a roadmap for your business. At the highest level, a business plan defines your business strategy and projected financial direction. Having a business plan, even as a rough draft, is important since it will help prospective accountants better understand the nature of your business.
  2. Define your accounting requirements – What types of assistance do you need from your accountant? Do you want just tax preparation or a complete package including bookkeeping, tax and financial planning, tax preparation and ongoing advice? By understanding your business and background, a good accountant can help you refine the services you need.
  3. Make a list of prospective accountants – Begin your list by talking to friends and colleagues. Referrals are always a good starting point. However do not automatically choose an accountant simply because your friend Joe uses him. Due diligence is key in this process. Use the internet and accounting associations to help find quality candidates.
  4. Make introduction calls – Call each candidate on your list. Introduce yourself and your business and ask them if they are accepting new clients. If so, schedule a 30 minute interview. Send them your business plan for review prior to the interview. Make sure to leave a message and ask for a callback if the person is not in the office. If they do not call you back within two or three business days, immediately cross them off your list. Do not even consider interviewing an accountant if they do not promptly return your calls.
  5. Conduct interviews – Plan to conduct at least five to 10 interviews to make an educated decision. Cover the following questions during your interview:
  • What services does the accountant offer? For example, does she only provide tax preparation or complete bookkeeping, tax planning and preparation?
  • How long has the individual been a CPA? How many clients does she currently have?
  • What are his specialties? Ask him to list his tax strengths as well as areas upon which he continues to improve.
  • How would the accountant rank herself in terms of aggressiveness in looking for tax savings? Is she ultra conservative or extremely aggressive? You will likely want an accountant somewhere in the middle with a bias towards the aggressive side.
  • What does he like best about his job? What does he like the least?
  • How are fees structured and calculated? Does she require a retainer for her services? If so, how much?
  • What experience does the individual have providing tax assistance for businesses in your industry?
  • Off the top of her head, ask the candidate to provide you two or three immediate wa
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    the nature of your business.
  • Define your accounting requirements – What types of assistance do you need from your accountant? Do you want just tax preparation or a complete package including bookkeeping, tax and financial planning, tax preparation and ongoing advice? By understanding your business and background, a good accountant can help you refine the services you need.
  • Make a list of prospective accountants – Begin your list by talking to friends and colleagues. Referrals are always a good starting point. However do not automatically choose an accountant simply because your friend Joe uses him. Due diligence is key in this process. Use the internet and accounting associations to help find quality candidates.
  • Make introduction calls – Call each candidate on your list. Introduce yourself and your business and ask them if they are accepting new clients. If so, schedule a 30 minute interview. Send them your business plan for review prior to the interview. Make sure to leave a message and ask for a callback if the person is not in the office. If they do not call you back within two or three business days, immediately cross them off your list. Do not even consider interviewing an accountant if they do not promptly return your calls.
  • Conduct interviews – Plan to conduct at least five to 10 interviews to make an educated decision. Cover the following questions during your interview:
  • What services does the accountant offer? For example, does she only provide tax preparation or complete bookkeeping, tax planning and preparation?
  • How long has the individual been a CPA? How many clients does she currently have?
  • What are his specialties? Ask him to list his tax strengths as well as areas upon which he continues to improve.
  • How would the accountant rank herself in terms of aggressiveness in looking for tax savings? Is she ultra conservative or extremely aggressive? You will likely want an accountant somewhere in the middle with a bias towards the aggressive side.
  • What does he like best about his job? What does he like the least?
  • How are fees structured and calculated? Does she require a retainer for her services? If so, how much?
  • What experience does the individual have providing tax assistance for businesses in your industry?
  • Off the top of her head, ask the candidate to provide you two or three immediate wa
    Employee Exit Surveys
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    list. Introduce yourself and your business and ask them if they are accepting new clients. If so, schedule a 30 minute interview. Send them your business plan for review prior to the interview. Make sure to leave a message and ask for a callback if the person is not in the office. If they do not call you back within two or three business days, immediately cross them off your list. Do not even consider interviewing an accountant if they do not promptly return your calls.
  • Conduct interviews – Plan to conduct at least five to 10 interviews to make an educated decision. Cover the following questions during your interview:
  • What services does the accountant offer? For example, does she only provide tax preparation or complete bookkeeping, tax planning and preparation?
  • How long has the individual been a CPA? How many clients does she currently have?
  • What are his specialties? Ask him to list his tax strengths as well as areas upon which he continues to improve.
  • How would the accountant rank herself in terms of aggressiveness in looking for tax savings? Is she ultra conservative or extremely aggressive? You will likely want an accountant somewhere in the middle with a bias towards the aggressive side.
  • What does he like best about his job? What does he like the least?
  • How are fees structured and calculated? Does she require a retainer for her services? If so, how much?
  • What experience does the individual have providing tax assistance for businesses in your industry?
  • Off the top of her head, ask the candidate to provide you two or three immediate wa
    Product Placement
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    e individual been a CPA? How many clients does she currently have?
  • What are his specialties? Ask him to list his tax strengths as well as areas upon which he continues to improve.
  • How would the accountant rank herself in terms of aggressiveness in looking for tax savings? Is she ultra conservative or extremely aggressive? You will likely want an accountant somewhere in the middle with a bias towards the aggressive side.
  • What does he like best about his job? What does he like the least?
  • How are fees structured and calculated? Does she require a retainer for her services? If so, how much?
  • What experience does the individual have providing tax assistance for businesses in your industry?
  • Off the top of her head, ask the candidate to provide you two or three immediate ways you could improve your tax situation. This is a great question since it quickly demonstrates the individual’s experience and how much she understands your business.
  • Review your interview notes – Take copious notes during your interviews. These notes will come in handy when making your selection. After your interviews are complete, review your notes. Narrow prospective candidates to a short list of two or three. Wait a day. Review your short list candidates and then make a final decision.
  • Notify your candidates – First, contact your new accountant. Ask her what she needs from you in order to get started. Next, out of business courtesy, call your other candidates and let them know you selected a different accountant. Thank them for their time.

  With a little time and structure you can be assured of selecting the best accountant for you and your business needs. With this decision made, you can now focus on helping your customers and building your business! What is nice about this process is that you can use a similar approach when evaluating other professional partners such as insurance agents, lawyers, or general contractors.