Hire An Accountant

Unlike big companies and corporations, small business owners may not have the resources to hire a full-time accountant.

This is not to say that they don’t need one because the truth is, every business, no matter how big or small, needs to keep up with their own accounting.

While doing your own accounting will always be an option, you probably already have too much on your hands to deal with additional paperwork. It will also take away a considerable amount of time that you should be spending growing the business.

This is why hiring a freelance accountant makes a lot of sense from a business standpoint. Not only will you have more time for the business, but you’ll also be bringing in someone who has the expertise to look after your financials.

What Is an Accountant?

By definition, an accountant is a professional who is responsible for recording business transactions for a company or organization. They are also in charge of issuing financial statements, performing audits or financial statement analysis, and reconciling bank statements among others.

Perhaps more importantly, an accountant is responsible for taking care of and issuing tax reports on behalf of a company, making them in demand during tax season.

What Does an Accountant Do?

Before you hire an accountant, it’s important to understand what their duties and responsibilities are. That being said, the primary role of an accountant is to prepare and analyze financial records.  

Having a competent accountant is critical because they help ensure that all company records are accurate and that taxes are settled promptly. They also help companies come up with plans that are aimed at improving their financial well-being.

Below are some of the other tasks an accountant is responsible for:

• Identify the taxes a company owes, prepare tax returns, and ensure prompt payment of such.

• Ensure that statements, documents, and other important records comply with laws and regulations.

• Organize and maintain financial records.

• Analyze a comp[any’s books and accounting systems and make sure that it’s always up to date.

• Improve business efficiency in terms of anything related to money.

• Recommend ways on reducing costs as well as improving revenues and profits.

• Make recommendations to management about anything that has something to do with financials.

Should I Hire an Accountant?

If you’re the owner of a startup, chances are, you’ve already considered doing the accounting yourself instead of handing it over to another person. This is usually the case because you’d want to save as much money as possible.

The question is, do you have the bandwidth to take on the added responsibility?

As a business owner, you’ve already got your hands full, and taking on an additional load could prove to be counterproductive. As mentioned, your business will benefit more if you stick to your CEO tasks and leave tasks like accounting to someone else.

If you’re looking for someone who is more efficient whom you can rely on especially come tax season, then yes, hiring one is the best way to go. 

How Much Does It Cost to Hire an Accountant?

The cost of hiring an accountant depends on several factors.

Will you be hiring one for a one-off job or will you be getting one on a more permanent basis?

This is crucial because accountants can be paid either on an hourly basis or project basis which is why it’s important to know the scope of the tasks you need help with before hiring one.

Experience and expertise is also a big factor. As to be expected, the more seasoned an accountant is the higher their rates given the knowledge and skills they bring to the table.

For a less experienced accountant such as a junior accountant responsible for billing and Accounts Payable analysis, the average hourly rate is between $20 to $50.

If you’re looking to hire a Certified Public Accountant (CPA), the average hourly rate is $150 and above.

How Do I Hire an Accountant?

FreeUp makes it easy for you to hire a qualified accountant. Just follow these simple steps and you could be working with an accountant less than 48 hours after signing up.

Create a FreeUp Account

Sign up for a FreeUp account for free to gain immediate access to the FreeUp community as well as the hundreds of top, pre-vetted accountants you can choose from.

Send a Request for the Freelancer You’re Looking For

Once you log in to your FreeUp account, click the “Freelancer Request” button so you can tell FreeUp about your budget and the qualifications of the accountant you’re looking for. You should then be able to meet the freelancer that matches your requirements within one business day.

Interview and Hire the Best Freelancer 

You can then set up a 15 to 20-minute interview with the freelancer you were introduced to so you can determine if he or she is the right fit. You can then hire them instantly if you think they meet your requirements or request to be introduced to another if they don’t.

Easily Manage Freelancers Via Your FreeUp Account

Once you’ve hired the accountant of your choice, you can then meet with them again to set clear expectations about communication methods, work hours, and estimated deadlines, among others.

It’s important to remember that the journey doesn’t end when you hit the “Hire” button. Taking time to properly onboard a newly-hired freelancer often leads to better working relationships.