There are many different accountants to choose from and with different designations to choose from. If you have a small business, having a good accountant is invaluable; he or she helps you manage your books and helps you to file taxes, deal with the CRA and can even offer business and financial strategies. How can you choose a great small business accountant in Canada for you?
Understanding Designations of Accountants
While researching an accountant to hire, one of the first things you will notice is that accountants have different designations. Broadly speaking, they are either a member of something like a Credited management accountancy, credited general accountancy, chartered accountancy or public accountants. Most of these designations are roughly similar (save for public accountants who generally have less training), though each one may specialize slightly. It’s a good idea to choose an accountant who is certified in one manner or another because they will have the best education to not only do basic bookkeeping, but also give advice.
What a Good Accountant Should Do for Your Business
When we talk about accountants, we aren’t just talking about someone to help you file your business taxes! The best accountants also do things like:
- Give advice regarding financial strategy
- Help you with your routine bookkeeping
- Keep you updated on changes in financial law
- Software recommendations
- Networking advice
This is because all of these things are related to finance and accounting and so any accountant worth his or her designation will also have a background in this information and be able to help you navigate murky waters of business and finance.
But the very best Halifax accountants do not only know these things and give you information, he or she will also make you feel comfortable and secure in your decisions. You should be able to trust your accountant with your information and to help you make the best decisions possible for your business. A shady accountant truly can break your company apart at the seams and leave you with nothing but a pile of bills, so make sure that you choose an accountant who is not only certified, but also trustworthy.
Small businesses can benefit hugely from the right Canadian accountant and that’s why it’s so important to choose carefully.