Home > FAQs

Financial accounting services FAQs

What is the best accounting software for my business?
This depends on your company. Your business may be small but the systems and organization may be complex. For most businesses there are comprehensive packages, such as NetSuite Small Business that provides everything a business could need, from managing consultants to tracking phone calls. This type of software maybe too large for a smaller business or consultant but for a company of thirty or more, NetSuite may help them become more effective and efficient.

The two most widely used accounting software packages are QuickBooks and Peachtree. Both are packed full of user-friendly tools and customization options. Both of these software programs are also available for free trails via their websites.

There are in-depth reviews on all these software packages available online and further advice can also be given by a qualified accountant, who can offer an impartial opinion.

How do I choose an accountant that is right for me and what questions should I ask them?
Personal and professional contacts can provide you with recommendations for accountants that have provided strong support and good results. Consulting trade associates for recommendations can guarantee that the accountant is an expert in your industry.

It is important to ask the appropriate questions to a potential accountant:
- Assess that they understand your industry and its needs
- Ask about their relevant qualifications
- Enquire about additional services such as accounting software support or inheritance planning
- Who will be looking after your account on a day-to-day basis
- Past experience in dealing with a business of your size and growth rate
- Enquire about rates and charges and if possible see if a fixed fee arrangement can be made for a 12 moth period

It is important to choose the right, qualified accountant. If any laws are broken or bad decisions are made, it is you and not the accountant who is held responsible.

What qualifications do you need to become an accountant?
It is essential to work with a qualified accountant. Anyone can call themselves a bookkeeper or accountant without having the relevant qualifications. In the U.S, Certified Public Accountants (CPAs) are licensed by the state to perform accounting services to the public. To receive the CPA license, the Uniform Certified Public Accountant examination must be passed. The American Institute of Certified Public accountants grade the exam. This exam is reassuringly difficult with only 10% passing on the first attempt.

Other non-statutory accountants are Certified Management Accountants (CMAs), Certified Internal Auditors (CIAs) and Accredited Business Accountants (ABAs). All of these require completion of a complex examination process that results in a certified license to practice accounting.

Financial accounting services | Accounting financial software | Learning Center | Site Map | Contact | Home

©