Handling accounting tasks is not a simple feat, especially if you have no prior background or knowledge. There are a number of things you need to take care of such as creating balance sheets, checking profit and loss and generating all sorts of financial reports. Sometimes, it takes a couple of months or years for you to fully understand how accounting works. This is why it’s highly recommended to hire a professional to lend you a hand.
Thankfully, today, you can find plenty of Central London accountants for hire. They can help you figure out how to manage complex cash flow problems. However, before you hire one, it’s a must for you to consider a few things. This way, you can hire the best candidate to assist you.
Check their qualifications
In the UK, accountants are expected to have the Association of Accounting Technicians (AAT) qualification. Currently, AAT offers four qualifications which take up to a year and a half to complete. Chartered accountants, on the other hand, have completed other certification courses such as the Chartered Institute of Management Accountants (CIMA) qualification.
Aside from the courses they completed, you should also check the applicant’s character. How does he/she handle pressure and stress? Find out how he/she works with a team. This way you can assess whether the applicant is a good fit with the rest of your staff.
Ask about their background and experience
It is also highly recommended to check the experience of the candidate. Which industry have they worked in? Has the candidate worked with businesses similar to yours? Your company would greatly benefit from an accountant who has prior knowledge and background in your niche. Working with an experienced professional can also help you minimise errors in managing your finances.
Assess the candidate’s skill by asking simple accounting questions
Ask how they would respond to certain scenarios. You can ask about specific situations within your company or create hypothetical scenarios to assess the candidate’s competency. His/her response will tell you how well they can handle certain issues based on their working knowledge and experience. Applicants who fail to answer the question or those who provide the wrong answers may not be suited to work with you.
Choose someone who can explain things clearly
It is not exactly easy to understand accounting jargon. Hence, you should find an accountant who can explain things to you as clearly as possible. It’s also crucial to hire an accountant who has excellent communication skills. Lastly, you must hire a CPA who has a pleasant personality. You don’t want to end up with an accountant that you dread seeing or calling when you have cash flow issues.
It is indeed a bit difficult to handle accounting problems on your own. With the help of a professional, you can increase your company’s efficiency in handling money and managing expenses. This way, you can improve your chances of succeeding. With a certified accountant on board, you also get to focus on other aspects of your business, most particularly product/service development, customer acquisition and customer support.
