To CPA or not to CPA? That is the question many small businesses have to face. While it may seem like a good idea to hire a CPA, they may not be the best choice to help your small business navigate the issues it’s facing.
At Hacker Accounting, we understand the needs of small businesses and the unique financial problems they have to deal with. We’ve come up with a few questions you should ask yourself to see if a CPA is right for your small business.
Are you required to use CPAs?
A small business is not required to use a certified public accountant. You would need to use a CPA if you had to have your financial statements reviewed or audited in order to obtain a bank loan, bid on a job or apply for a grant. But for most of the issues that a small business will encounter, an experienced non-certified accountant can handle them and give you the service you need.
Are you ready to look at the big picture?
CPAs are best for dealing with big picture issues: offering strategic advice and helping you grow your business into something larger. When you’re operating on a smaller scale, you may not have the resources nor the desire to grow to that point yet. It’s when you’re at this size that it’s best to work with a bookkeeper, who can help you manage the concerns you’re dealing with daily: filing paperwork, payroll, submitting invoices and paying bills. The devil is in the details, and it’s in the details where a good bookkeeper thrives. They look at the trees while CPAs look at the forest.
Related: Your Business Needs a Payroll Service
Do you need a specialist?
CPAs often specialize in specific financial areas. They could be experts on tax law, auditing or fraud. They could be experts in areas that are not important for your business at this time. Non-certified accountants tend to focus more on generalized knowledge. They are equipped to handle all the basic problems and challenges you’ll deal with as a small business. If you have an issue that requires the assistance of a CPA, you should by all means seek one out. But until you have to, it’s best to work with a professional non-certified accountant. They have the expertise and experience you need to help your business succeed.
For more information about how our accountants can help your business, give Hacker Accounting a call at 602-375–5251.