Choosing a good accounting firm in Los Angeles for a business can be a hard task because of the large number of accounting firms in the market and knowing who you can trust with your personal finances. This can also differ if you’re a small business or an individual who needs a CPA for everyday needs or just a yearly tax professional. Below you will find various methods on how to choose the best accounting firm to help you in Los Angeles.
Before we start, let’s first discuss some of the problems that businesses or individuals face in choosing a good accounting firm in Los Angeles.
Problems in Identifying a Good Accounting Firm
Several problems occur while finding a good accounting firm in Los Angeles, some of them are as follows:
- You may not know what kind of financial services you want.
- Sometimes they know exactly what they want from an accounting firm, but they do not know where to find something close to them.
- Lacking the knowledge about how best to utilize their accountants.
- How much you are willing to pay as a one-time fee or monthly?
However, these problems are typical and can be solved with the right planning. Identifying and selecting the right accounting firm is no different than any other business decision and you need to properly perform some checks to make sure you hire the firm that best suits the size and activities of your business or
How to Find a Good Accounting Firm in Los Angeles?
While there are high-quality global firms with thousands of good reviews available out there, it doesn’t necessarily mean you should go ahead and hire one of the big 4. The reason is that these firms might not excel in your niche and may not perfectly perform the job you hope for as a small or medium-sized business. In addition, these firms are way expensive and can easily drain the budget of your business or start-up.
Therefore, you need to consider the following factors before hiring an accounting firm in Los Angeles:
- Suitable location
The first thing you need to consider is the location of the firm. If your firm is near your location, your accountants will be able to visit daily and check accounts thoroughly. Moreover, you can call them on short notice anytime you are having a problem with your accounts.
However, if you are on cloud accounting software then this is irrelevant and your accountants can check or edit the work anywhere in the world remotely. Therefore, consider the location and you may save hundreds of dollars by hiring remote accountants if you are using cloud-based technology.
There are many remote accounting firms in Los Angeles and around the globe that can give their services from their home country or anywhere else.
- Certification of the Firm
General accounting tasks like bookkeeping, invoicing, and inventory management do not need any specific certifications, but if you are looking for any accounting firm for some specific tasks like auditing or securing loans, etc. then the accounting firms and accountants should be certified by a proper accounting institution.
Generally, CPAs are recommended as they are certified public accountants. They have cleared the exams and got the certification.
The accountants of the selected accounting firms must have experience in your required task. In addition, they must have experience in the same industry and know the nature of your business.
If you take care of this, they will be more familiar with your task and can identify problems and give suggestions and recommendations more accurately.
There should be proper alignment between the accounting firm’s interest and the company’s interest and that is to reduce the cost as much as possible.
The accountant’s goal is to give benefit to the company as much as possible and not only to manage the accounts and take his consideration.
- The IT perspective
Here the IT perspective relates to the accounting software being used in the company. The software of the company and accounting firm should match or at least have some common grounds.
They should know how to use or operate the system software of the company. This way they can easily correct and find mistakes.
The accounting firm fee should be the greatest concern of the company. Because in the end all you do is control the overall cost. If your selected and suitable accounting firm demands a high fee, negotiate with them.
Every businessman knows how important networking and socializing is. A manager should use his personal or professional contacts to search for a new accountant. Always consider the recommendations of friends and colleagues.
Do not always make quick decisions, do not go for the first good fit you find. Make sure to meet several candidates and conduct their interviews, and judge their skills, you might find a perfect option after several candidates.
After choosing the best fit for your company, always run a background check to ensure the integrity of the candidate.
Trusted Accounting Firm in Los Angeles, California
Your job as a business owner is to find a trusted professional, whether you have a team or by yourself as an individual business owner, you deserve to have an accounting firm that has your back in all necessary services to run a business and keep track of it year-round. If you’re looking for an accounting firm in Los Angeles that fits all the criteria, then please call Bornazyan & Bornazyan LLP at 818-319-0028 or visit bbankcpa.com