Disclaimer: Please note this article is not financial advice. The purpose of our blog is purely educational, so please consult a professional accountant or financial advisor before making any financial decision.
Marketing, business strategies, partnership, and planning—these are just a few things that you need to do as a business owner. Of course, you also have to focus on the numbers your business generates.
As an entrepreneur, it is vital to ensure you do everything in your power to manage your finances. In addition to having a bookkeeping service that handles all your accounting needs, you should also have an accountant specializing in eCommerce sales tax and compliance. When selecting the best eCommerce CPA for your company, there are several criteria that need to be considered before making a final decision.
Read on as we will review these criteria so that you can hire the correct one for your business!
Finding a Competitive Ecommerce Accounting Firm
When you look for the ideal, you have a list of things that you want to see in that person or thing. Setting a standard means that you don't have to waste your time with people who do not meet your qualifications. When you talk about business, you don't want to settle for less, right? You are a true winner once you get more than what you pay for.
That said, here are the things you should consider when finding the right eCommerce accounting firm for your business:
- Reputation
Don't forget to search for customer testimonials because feedback is an important determinant in making your shortlist. Written and verbal feedback says a lot about the accounting firm you plan to hire.
- Expertise and Credentials
You have to know first if the firm is working with a team of certified professionals who became experts in their field because of continuous practice and development. The firm must also conform to legal standards like securing complete business permits and a detailed list of services.
The accounting firm must have already worked with business owners who have online stores because they know what needs to be done and how it should be handled. One good example is being highly knowledgeable in Amazon international accounting since Amazon is today's largest eCommerce site. Also, an accounting service provider must come up with frequent updates regarding the business landscape.
- Fees
Every business owner knows that the accounting service charges are always a concern. With this, you should ask for an estimate of how much it will cost to use their services and compare other firms that offer lower rates or have flexible price plans tailored to your budget requirements. You need to know if there is already a free trial period so that you can fully assess the things a firm can contribute to your company.
It really matters when an accounting firm can exceed your expectations even during the free trial period.
- Adaptability
The advent of technology led to the unstoppable development of accounting software. These include cloud-based accounting applications that are very useful for online retail accountants and financial experts. In addition, data security tools have proven to be highly essential because they protect data from unwanted intruders like hackers. Quickbooks, Xero, and Sage are just a few samples of popular applications commonly used by the leading accounting firms today.
It is essential for you to find an accounting firm that utilizes automated accounting tools to save you money and provide you with an accurate financial report. Plus, you have to ensure that all of your data are secured and confidential.
- Responsiveness
As a business owner, your time is gold, and you have to hire a team who can give you an immediate response to address your queries and other concerns. You can also build an assessment of how the firm communicates with their clients and how they respond, whether they are friendly and accommodating, or you are just another typical client to them.
It is up to you if you hire an accounting firm near you or a remote one. With the help of the internet, you can find many eCommerce accounting firms you can look into and compare. Most of them are competitive, and their websites can also help you with the final decision.
Typically, a website reflects the firm's legitimacy, and all you have to do is navigate and conduct a little research. If the company is a good one, their website should contain the information you need to know, including their services and feedback from their clients.
Your Choice
When you start a business, make sure that you have a budget for an eCommerce accountant. Managing a business is like having a baby because it demands most of your time, focus, and energy. And just like caring for a toddler, you have to do everything just to ensure that you give the best for your business—this includes talking to other professionals for help. Without bookkeepers and accountants, you will never have a clear and complete diagnosis essential to the plans you want to execute and the goals you need to achieve.
If you want to know more about finances, you can read Track Your Business Finances: A Deep Dive Into Amazon Seller Accounting, written by Michael Pignatelli, one of our CPAs here in Unloop.