Finding the Right Accounting Administration Support for Your Business

When you're running a business, it can be easy to lose sight of what's important. Operations, employees and finances can seem overwhelming, especially if you don't have the right tools to keep track of them all. 

This is where professional finance and accounting administration services come in: they keep your business running smoothly, efficiently and accurately.  

To help you find the right finance and accounting administration services for your business, we've put together 5 tips for choosing and selecting a reliable service provider: 

Define Your Finance and Accounting Needs. 

Before hiring a finance and accounting administration services provider, it's important to clearly define the exact services your business needs. Some of the questions you should ask yourself include: 

• What finance and accounting tasks do I need the provider to handle? (bookkeeping, accounts payable/receivable, payroll management, tax preparation, financial analysis, SMSF, etc.) 
• How much will it cost me? 
• Are there any specific skills or experience I want the provider to have? (Example: CPA, QuickBooks proficiency, industry-specific expertise) 
• What level of support do I want from them? (Example: availability, communication channels) 

By answering these questions, you can determine the right finance and accounting administration services for your business. 

Research Potential Providers. 

Once you have a clear idea of the services you require, it’s time to start researching prospective finance and accounting administration service providers. Some of the factors to consider during the research include: 

• Look their customer reviews and ratings 
• Relevant experience in your industry 
• Any awards or certifications they may hold 
• What services they offer and their rates 
• Contact each provider for an initial consultation to decide if they are the right fit for your needs 

By considering these factors, you will be able to choose the right service provider for your finance and accounting needs.

Read: How to Choose the Best SMSF Service Provider 

Ask Questions and Seek References. 

When looking for finance and accounting administration services, it's important to ask questions and seek references. Some of the things you should be asking include: 

• How long has your company been in business? 
• What is your training and education background? 
• Who are some of your clients, and what kind of work did they hire you to do for them? 
• Are there any other professionals in my industry that would be willing to speak with me about their experience with your company or its employees? 

Moreover, many providers offer free trial periods or money-back guarantees, so make sure to inquire if this is an option for you. By doing this, this will give you a better understanding of their capabilities to provide the finance and accounting services you need, 

Check the Provider's Reputation and Credentials. 

Before signing a contract, it's essential to check the finance and accounting administration service provider's reputation and credentials. Here are some tips you might want to consider: 

• Check out their website.  Look at what they have to say about themselves, including any awards or certifications they may have received. If they are a member of associations or trade groups, check those out as well.  

• Look at reviews on social media sites and Google+ Local (if applicable). This will help you get an idea of how customers perceive the company as well as if there are any recurring complaints that need addressing before you hire them for your business needs 

• Ask for references from previous clients who have used similar services to gauge their effectiveness overall. 

• Consider the customer service record of any prospective provider. Have there been any billing issues or complaints about poor communication? You may also want to consider the provider's overall customer service record, since this will be a key factor in determining your overall satisfaction with the right service provide 

It’s also important to make sure they are up-to-date with any relevant laws necessary in their field. 

Read: Signs your Firm Needs Management Accounting Services 

Review the Service Agreement and Contract Terms Carefully. 

Before committing to any finance and accounting administration service provider, it's essential to read the entire service agreement and contract terms carefully. Here are some things to look out for: 

• Ensure that all the finance and accounting services you need are included in the package. 
• The agreement should include a timeline of when the services will be provided. 
• It should also contain information about the cost of any additional services that may be necessary. 
• Additionally, it should contain information about who is responsible for making any changes or amendments to the agreement if needed.

Finding the right finance and accounting administration services for your business requires more than just finding someone with the lowest price. It's about finding someone who can help you grow your business in a way that fits with your vision and goals, which may mean finding a reliable service provider. Contact us today! 

Let D&V Philippines be your provider of choice. We are a business process outsourcing specializing in finance and accounting. Providing a high-end paraplanning, SMSF administration, financial management and other services to help you improve your bottom line.  

Download our Talent Sourcing whitepaper to learn more about how we can help you grow your business today!