Choosing the Right Accountant for Your Business: Jamie R. Draper

In this article, we’ve asked industry expert and seasoned CPA Jamie R. Draper to shed light on what he thinks are the most important factors to consider when selecting an accountant as a small business owner. 

Assessing Cost Versus Value

While budget considerations are important, it is more critical to evaluate the value an accountant brings to your business. 

A capable accountant does more than crunch numbers; they can uncover cost savings, aid in strategic planning, and ensure regulatory compliance, often leading to substantial long-term financial benefits. 

Experts like Jamie Draper point out that the initial cost of hiring a well-qualified accountant is usually offset by the value and savings they bring to your business over time: 

“An experienced accountant might cost more upfront, but the long-term savings and financial health they can bring to your business often outweigh the initial expense.”.

Importance of Qualifications and Experience

The qualifications and experience of your potential accountant cannot be overstated. 

A CPA, for instance, signifies not only a mastery of accounting principles but also a commitment to ethical standards. 

Experience in your specific industry is equally vital, as an accountant familiar with your business sector can often offer more nuanced advice and be better equipped to handle the unique challenges and opportunities that your business may encounter.

Identifying Your Accounting Needs

Next, you will need to make sure you have a clear understanding of your business’s accounting needs.

This understanding involves a plethora of factors, including recognizing whether your primary requirement revolves around tax management, financial reporting, strategic planning, and/or day-to-day bookkeeping. 

This is important because each of these needs can require different expertise, and recognizing what you require is a step Jamie Draper emphasizes as “crucial in selecting the right professional.”.

Finding the Right Fit

The personal rapport and communication style of your accountant are as important as their technical skills. 

All in all, a good accountant should not only understand your business objectives but should also be able to communicate complex financial concepts in a way that is clear and understandable to you. Responsiveness and the ability to establish a trusting relationship are key traits.

Evaluating Specialization and Services

Accountants often specialize in different areas of finance and accounting. Some may focus on tax strategy, others on business consulting, and some on auditing services. It’s important to align your business needs with the accountant’s areas of specialization. Jamie Draper’s diverse experience across various accounting domains is an example of the breadth of expertise you should seek, especially if your business requires multifaceted accounting support.

Understanding the Technology and Tools Used

In today’s digital age, the tools and technology used by your accountant are also significant. 

This is because an accountant who leverages modern accounting software and technologies effectively will be able to provide more efficient and accurate services. This tech-savvy approach can lead to better insights and more streamlined accounting processes for your business.

Long-Term Relationship Potential

Consider the potential for a long-term relationship with your accountant. As your business grows and evolves, having an accountant who understands the history and trajectory of your company can be incredibly valuable. This long-term perspective allows for more strategic financial planning and informed decision-making.

Final Take: Getting Started

Selecting the right accountant is a nuanced process that involves balancing expertise, experience, cost, personal fit, and long-term potential. Accountants like Jamie Draper, with their extensive knowledge and adaptable approach, serve as a benchmark in this selection process. Ultimately, the right accountant is not just a financial advisor but a strategic partner in your business’s growth and success.

For those interested in learning more or discussing your business’s unique financial needs, Jamie Draper is just a call or click away. You can schedule a conversation at (708) 217-1965 or delve deeper into his professional background on LinkedIn.