Foundation Years Journal

Financial Matters Management
Financial Services

What To Look Out For When Choosing Your Financial Handler?

There are several students graduating in this field per year so it might prove to be challenging to choose someone who is right for the business, so here are some warning signs to look out for when choosing the person that’s going to be handling all your finances.

• They miss deadline

A missed deadline can be disruptive for the business and can result in fines, ensure that you never choose someone who does not meet deadlines. What use is a tax agent that does not file taxes in time?

• They make careless mistakes

They need to have their act together, it is not okay for them to miss out on certain details as their job is regarding handling financial matters. A misplaced or added zero or dot can make it seem like the company owes a boatload of money or that it is hiding something. This inefficiency in bookkeeping can eventually have a serious consequence on your company. Link here http://fintaxaccountants.com.au/accounting-bookkeeping/ provide a high standard service of bookkeeping that will give a best results.

• They charge by the hour

This can be a bit of an issue, as this might prompt them to work for a longer duration than necessary. Always try to get them to agree to a fixed fee structure. If they don’t agree, ensure that you question them whenever they take longer than the predicted date and see if they provide a valid explanation.

• Do you think it’s worth it?

Do you feel like they are providing the value for money? Some companies spend a lot on them, but if you look deeper you would realize that they aren’t giving you a proper service. To avoid this issue, ensure that they provide you with a quote before you hire them and afterward see if they actually provide you with all the services they quoted for. If you find that they are pretty hazy about the kind of services they offer, then it’s time to look into hiring a new one.

Oftentimes the underperformance of an employee goes unnoticed, if you find yourself agreeing to many of the points mentioned above then it’s a clear-cut indication of needing to replace your employee. Furthermore, they should also be familiar with the industry they are working for. The tax laws and codes are sometimes specific to a particular industry, so this can affect your business if your employee isn’t familiar with it. However, you shouldn’t fire your employee right away, a new accountant will find it difficult to start off from where the previous one left, so always fire them after the taxes are due, this way the new employee can start fresh.