How to Select the Right Accounting and Bookkeeping Service

Accurate financial records are essential to any business, but accountant and bookkeeping responsibilities can be overwhelming. If you are finding for a solution to such complex tasks, a reliable accounting service would greatly help.

Hiring an accounting service can help your business increase efficiency, save time and resources from training in-house staff, and give you real-time data for streamlining processes according to specific business needs.

But with so many online services, how do you choose which agency works best for your business type? To help you determine the right service, we listed some helpful tips below:

Specify Business Needs and Objectives

To make your search for the perfect accounting service quicker, define your company’s specific needs and objectives. You must understand the kind of services you require, the level of support, and the complexity of your operations.

While most accounting and bookkeeping agencies can cater to a wide variety of business models, partnering with one that can tailor to your particular goals bears better results for your finances.

You can use the following questions as a guideline:

  • Do you need basic bookkeeping only or full-service?
  • Do you need specialised services in the areas of auditing or tax?
  • What kind of accounting services do you need?

Once you have highlighted your business goals and needs, you will find narrowing down several potential choices easier.

Compare Service Providers

There are plenty of accounting and bookkeeping services, most advertising online. You can research several providers, but we highly recommend referrals from fellow business owners or review websites. In addition, you can check industry associations’ directories.

Always remember to partner with providers with good working experience in your industry and the necessary credentials and qualifications, such as a CPA or enrolled agent (EA).

Check Pricing

Accounting and bookkeeping service providers have a diverse clientele of small and large businesses, allowing them to offer competitive prices. Regardless, you obtain what you pay for, so be sure your prospective candidate provides quality services.

Take your time to examine each candidate’s pricing structure and determine which one is suitable for your budget.


Conduct an Interview

Once you made a shortlist of your chosen candidates, further assess each provider’s suitability and compatibility by asking several questions through an interview. Interviews can help you get to know the service providers better and understand their expertise and communication skills.

Consider asking the following questions during the interview:

  • Can you provide a list of references to similar businesses?
  • How long have you been offering accounting and bookkeeping services?
  • What services do you offer?
  • How do you communicate to clients, and how long do responses take?
  • Do you have any measures in place to safeguard client data?
  • What software tools do you use, and are they up-to-date?

Industry Specialisation

As mentioned earlier, not all accounting and bookkeeping agencies can cater to specific industry needs. It is important to partner with a service provider specialising in whatever industry you belong to for more tailored assistance.

For example, being in the healthcare industry will have different tax laws, compliance requirements, and regulations than companies in the construction sector. 

Remember, each industry has specific aspects to navigate, so it is best not to settle for one-size-fits-all services.

If you still struggle to find the ideal accounting and bookkeeping service provider in Australia, we recommend contacting Pacific Accounting.

Pacific Accounting provides various financial services, including books and wages, accounting and innovation, virtual CFO services, and compliance. For enquiries, don’t hesitate to reach out.

Thomas Jung

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