Top Tips When Hiring Your Business Accountant

MBRS Reporting by SSM

MBRS Reporting by SSM

If you run your own business, there are already so many things that you need to figure out. This might include things like office rental, business strategies and things like HR policies and the likes of that. The last thing on your mind would probably be having to hire an accountant to clear up the accounts for your company.

Now, if you own a smaller business, you might think that you could just download an app or just use the internet to get your accounts done. This is understandable if you want to save money if you’ve just started your company. However, it might get very dangerous in the future if you do not have someone properly trained to help you with your finances and accounts.

 

If you’re having trouble trying to find the right accountant for your team, we’ve listed down 4 top things you need to be on the lookout for when hiring your new teammate.

 

You Need To Know WHEN You Need An Accountant

It might be easy to say to hire an accountant but we can never tell you the exact time in which you would need an accountant. But there are a few points in which will happen during your business that might help in expediting the hiring process for your accountant.

 

  1. Starting Out

 

The first thing is when your company is fresh and you don’t really know much about accounting or finance. This is one of the best times to hire an accountant because you’re getting them from the get go. This way, the foundation of your finance department will be strong and unshakeable. Making mistakes early on can snowball into much bigger mistakes in the future. Thus, why we say that hiring an accountant from the get go is a lot better than later.

 

  1. You Are Clueless About Taxes

 

If you are a private company or an incorporated company, you will need to pay taxes sooner or later. Or risk the Malaysian government coming after you. Filming taxes has always been a headache, be it personal taxes or even business taxes.

 

You need to remember where the receipts are and try to figure out what is deductible and what isn’t. It’s just an all-around hassle. Your business accountant is most valuable during tax season because they know the ins and outs of the situation and have been working on it for years. So let them figure it out for you or risk losing money or have to pay taxes for things that could be deducted beforehand.

 

So how do you find your business accountant?

 

Well, with the age of the internet, there are so many ways to find anyone. You can easily hire a cleaner, a cab or even a chef within a few buttons on your computer. However, do make sure you’re cautious when you’re hiring someone from the internet.

Make sure that they are certified and that they have a proven track record. You can establish this by asking them for a portfolio or ask them for their previous clients and call them up to find out how well their work was.

Another way to find a trustworthy accountant is by asking for referrals. If you’re in the business industry, I’m sure you have a handful of friends that also own businesses. This way you get the opinion of someone you trust which is a lot better than just finding for someone online.

Ask the potential accountants a few questions.

Always make sure you ask them a few questions before hiring them. This is because it will help you learn about them a bit more. Rather than just hiring them based on what your friends say.

Here is a checklist!

  • Who are your previous clients?
  • How did they rate your work?
  • Were there any misunderstandings and how did you solve them?
  • How much experience do you have in the industry?
  • How will you help me improve and grow my business?
  • How will we be communicating and who will be my account manager?

Make sure that they are MBRS certified

After you’ve done all your checks, please make sure that you ask them if they are MBRS certified. This way it will be much easier for them to create all your reports for you.

If you want to sign up for the MBRS training workshops, click here. To learn more about MBRS, click here!

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