Know Your Limits!

Marketing and branding are passions of mine. I find them truly interesting and to tell you the truth, I am pretty good at them. I am the idea person, the creative, not the accountant. As an Entrepreneur I know my strengths, my weaknesses and how to plan accordingly. Balance sheets, cash flow statements, and the thought of payroll are essential, but daunting. With the possibility of a start-up venture on the horizon, finding the right accountant is essential to the success of my business. As an entrepreneur, I know my limits and accounting is just outside of my reach.

Choosing an accountant that is the right fit for your business is essential to the daily operations that venture. Your accountant is privy to private financial, personal and business information. He or she will gain detailed information on your business overtime and they can either become your best ally or your biggest problem. As with most professionals, all accountants are not created equal and personally, I would like the best accountant for my business that I can work into my budget.

Your accountant will not only take charge of recording your financial information and formatting it into Financial Documents including your balance sheet, income statement, cash flow and tax returns. "But a good small business accountant does much more than just record transactions and passively generate documents-they actively analyze, interpret and convert that data into actionable business intelligence" (Gaebler.com). Your accountant (I prefer financial ally) should be willing and able to asses the current financial situation of your business and guide you in the direction of growth you wish to pursue. For example if you currently rent your retail storefront, but are interested in purchasing a space in the future, your financial ally can assess the situation and determine which opportunity is best for the growth of your venture.

Understanding that your personal finances directly correlate to those of your business, your ally should also provide personal financial. Whether it be retirement planning or advice on investments, he or she should guide you towards a stronger financial position over time. Your accountant is a trusted business and personal advisor assessing specific problems within your business and offering specific solutions to meet your needs.

As an Entrepreneur it is also important to be sure of your potential accountants certifications and skill sets. All accountants are not Certified Public Accountants. " A CPA has a surpassed accepted financial education levels, passed state-administered tests to prove competency and periodic re-certification exams" (Gaebler.com). While this depth of knowledge is excellent to have on hand in your business, it often will also be more costly. Many success full accountants can provide the resources essential to the financial operation of your business and many may not be a CPA. Most importantly choose an accountant that is an ideal fit for you and your business.

Choose an accountant that fits well with you and your organization. If you are civic minded and community involvement is important to you, find an accountant that shares similar interests. Overall, you the business owner will know if the accountant in front of you is the best fit for your business. Do your research, ask for references and go into the process with the knowledge of what exactly it is you are looking for. If you are like me and the thought of tackling the accounting processes for your business seems overwhelming, hire someone. Find your financial ally!

How to Choose an Accountant. Gaebler.com. 10 Jun, 2010.< http://www. gaebler.com/Choosing-Accountants.htm>.