Are you having trouble with your current accountant and searching for a new one? Have you recently opened your own business and need an expert accountant to handle your finances? Finding the right accountant is a key factor in maintaining properly your finances. You can select the best accountant just by verifying his/her qualifications, previous clients, and making sure that their cost is aligned with your budget.
Verify areas of expertise?
If you are looking for an accountant for your business, you will need one who is knowledgeable with the accounting principles used in Saudi Arabia, has built financial statements (P&L, Balance Sheet, and Cash Flow), and has expertise on the Saudi tax system. While there are many accountants who may have talent in doing this, it is important to find one that has experience doing the job for businesses similar to your size. If they have experience working in the same sector of business as you, that is an even greater advantage!
Verify their clients
Do they have any larger clients? If so, this could lead to continued work with this accountant as your business grows. You can even check to see if their current clients have started as smaller businesses and developed into larger businesses while working with this same accountant. Looking to the future is always beneficial and choosing an accountant that allows you to build trust throughout years of working together can provide you with a consistent and stable financial status and business operation. It is also important to see if he/she has worked with clients operating in the same sector, he can provide insights on multiple fronts: how to account for costs and revenues, what can be capitalized, and much more.
Check past experience and reviews
Serviis profiles can provide a lot of information on the different candidates. If not, you can check their social media profile, which can tell you many things about a person or business and be using this method to find out more information about potential accountants can be a great help. After receiving the quotation from serviis, you can do further research on each of them by using Linkedin or by asking additional questions on their experience and history. Here are some questions that can answer just by looking at their network profile:
- How long have they been in business?
- What is their education?
- What qualified them? Are they a certified accountant?
- Who is included in their network of colleagues and/or clients?
- Have they received reviews? What do reviews and recommendations from clients indicate on their profile?
- Do they present themselves professionally?
Verify how he/she will manage your finance
Whether it is the first or last thing you are concerned about when selecting an accountant, getting the best fit accountant for your needs is most important. If you have a budget, an accountant that is willing to save you money and be the proactive leader of your financial situation can be most beneficial in many ways. Not only can he/she save you money by giving you a good deal for their services and the best value, but he/she can also provide you tips on how to save money in your business in the long run. You might consider asking him some questions
- The ration of overhead costs vs revenues in a similar business, and levers to reduce costs
- How to optimize cash flows by better managing inventory, receivables and payables
Since the laws of countries vary regarding tax, find an accountant knowledgeable of tax laws for Saudi Arabia can provide a lot of benefits.
Check which software he/she uses
Accounts typically use software to compile financial statements and to store invoices and receipts. You should check which software he/she uses as it may be different from the software in our company or the software you use for your personal finance. The best option is to get an accountant that uses the same software you use. If you do not use any software, you should select a cloud-based, standard accounting application.
To find experienced and trustworthy accountants to assist you, doesn’t have to be a time-consuming challenge, and serviis.com can give you numerous options. If you like the article, please share it.