How accountants can better prepare for the influx of peak tax season business
January 14, 2013

After the start of the year, many individuals and small companies begin thinking about gathering their financial documents and preparing for the upcoming tax season. For some startup owners, this can be a daunting task, especially during the first tax season after they have opened their doors. These people may not be aware of the particularly local, provincial and federal ordinances they have to remain compliant with, the lengthy paperwork that must be filed and all other rules that need to be adhered to.

Though these administrators could feel lost and confused, many often seek professional assistance. Calling in an accountant might be helpful for some companies year-round to handle financial software and payroll, but others only do so seasonally. Asking professionals to help during tax time might be a lucrative avenue for small firm owners who are either too busy to make sure every detail is followed or those who simply don't know what they're doing. Accounting firm owners need to be prepared to handle an influx of traffic during the late winter/early spring.

The importance of networking to get the word out about your services
There are plenty of ways small business owners can find an accounting firm that is ready and willing to help them compile the appropriate tax information and file with the government. For instance, it might be a good idea for entrepreneurs to ask around with their friends and family - after all, everyone needs to file taxes. This penchant for using a bookkeeping firm with a great reputation makes it obvious that accountants need to invest in word of mouth marketing and work to build a strong reputation. 

Networking also tends to be a good way to find accountants that are willing to work for a startup. It's important, then, that accountants and bookkeepers participate in events run by the Certified General Accountants Association of Canada, CPA Canada and other organizations.

How to prepare for when a client interviews your practice
When deciding if a particular accountant will fit a company's needs, there are a number of elements business owners are considering that accountants should be aware of. According to Entrepreneur Magazine, there are some key questions that should be posed during an interview.

Accountants should be prepared to cover the major bases in their answers. Some key areas include outlining experience working with certain sized firms or their history with audits, but other details matter, too. For instance, explaining that the firm is going to be doing the work themselves in-house needs to be stressed, and billing inquiries must be vetted beforehand. Plus, the magazine recommended that customers ask about what sort of accounting software is used, in an effort to make sure the documents can be viewed by workers using the startup's current system. Accountants and bookkeepers would do well to offer multiple types of accounting software so they are able to meet the unique needs of prospective clients.

Nexus: G-WEBCD5