How to set up an accounting company?
For the entrepreneur who is thinking of starting an accounting business, this article is a first step in the search for his dream with planning advice.
The history of accounting goes back to ancient times, man became a necessity to count his possessions to this day.
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To start a business it is interesting that the accountant already has solid experience and knowledge, and a good network of contacts. This makes it easier to meet the challenges of starting up the project itself. In case you do not have the requirements, waiting a little longer and getting the experience and knowledge will be of vital importance to keep your business with a long life expectancy.
Knowing the market and planning the accounting office
For those who have technique as well as practical knowledge in this area, the possibility of success increases greatly to build their business, since the responsibility is very large and there can be no failures in document management and procedures provided for customers who in most cases are businesses. If there is a mistake, the company and the accountant lose credibility.
Location of the accounting office
After planning, it is time to choose the location to set up the accounting office. The property does not necessarily have to be in a place with sufficient visibility, but it is important to be close to shopping centers and have easy access.
The site must have a support to securely store all documentation and important customer data that cannot be damaged or lost. To this end, a local planning assembly and the preparation of appropriate equipment are welcome.
Structure for setting up the accounting office
If you work alone, the space can turn around 28 square meters. But if you are having a team, the property must be spacious and have at least 45 square meters to make room for a good operation.
A placeholder for the presentation of various documents and objects with an area that allows for expansion
A reception area with a waiting room and desk space
A human resources department to deal with labour issues and also with respect to the employees of the companies that are served by the business
Rooms in the tax and accounting writing area for your professionals
Meeting room to welcome guests in comfort
There are several possibilities for the organization of the space and its structure and it all depends on how the entrepreneur wants to set up his accounting company.
Hiring professionals for the accounting office
To cope with the complex task of generating results and maintaining customer satisfaction, it will be necessary to hire professionals with solid training and experience. Here are some employees who can become part of your business:
In charge of tax records with knowledge of taxes at the municipal, state and federal levels.
A human resources professional.
An accountant may even be the employer and/or other additional professional.
An internal auxiliary service company to maintain order and cleanliness on site that can be outsourced.
An external auxiliary service company to upload documents in banks, notaries and bring documents to clients.
Disclosure of the accounting office
For potential customers they must know that your company exists. You can choose different ways to spread the word, for example, through a website, telephone directory and business magazines.
Advantages of an accounting company
Certified Public Accountants (CPAs) have earned respect and prestige as professionals, being an activity of high demand and request in the professional field. Because they are responsible for advising individuals and companies on accounting, tax and general business issues. Creating your own CPC firm is rewarding, but it takes a lot of work.
One of the most notable advantages includes earnings and career advancement, with an in-house certified public accounting firm, which offers much more flexibility with respect to income. Earning is commensurate with the professionalism and diversity of activities that can be offered.
Therefore, income depends largely on the amount of work the company is able to handle. In addition, you must have control of the number of clients you are willing to take as well as the fees to be charged.
You can start with low fees when you first open a CPC firm, and then increase your fees when you have work experience. You can also add on-demand services which also increases your income.
Problems that can occur in an accounting firm
Accounting is a field that has existed since books were kept by hand. Before, all the work was done in the general ledger and the journal, then all the routines were passed to the computer and with the advent of new technologies and the web, now it is a job that can be done even online.
In many countries, to practice this profession and business, you must be a certified public accountant to start an accounting firm. There are also other licenses and permits that are required, so it is necessary to check with the agencies in the country of origin where the company is going to be opened to comply with the relevant requirements. Usually, the company also needs to be registered with the city or region. Contact the authorities in charge to verify this procedure.
Tips for starting an accounting firm
The moment the company is legally started, it needs to be said publicly so that the consumer knows about it. You should start with the circle around you that is the best option when it comes to promoting the business. Offering facilities to those close, in promotional values at the beginning, discounts if the known, attracting new customers, among other options.
Another way to make yourself known is through social networks, which are a very good ally. Making use of tools such as Facebook allow you to segment the ads to reach in particular those who seek and need the accounting services. Making its way in a competitive market like today’s.
Success stories
A successful company in this field is the Infinance Franchise which specializes in financial services, under the principles of high quality customer service, always seeking to meet their needs and demands, as far as financial intermediation is concerned. Looking for the best options in the market, to offer different possibilities according to the client’s profile.