Efficient, accurate and diligent real estate accounting and bookkeeping are challenging pieces of work which is why most businesses hire a dedicated accounting firm either to outsource or assist with their accounting functions. But how do you find the right accounting firm that not only caters to your bookkeeping and accounting functions but also find you new opportunities while ensuring compliance? Back Office Accountants is here to help.
As one of the most trusted remote accounting firms in the business, Back Office Accountants specializes in real estate accounting services. Being on the other side of the table has given us an ideal perspective in helping you find the right accounting firm for your real estate agency. So in this blog here we give you five factors that must play a crucial role while choosing your accounting firm, read on:
5 Factors to Consider While Choosing the Right Back-Office Accounting Firm for Your Real Estate Business:
Experience: Like any service provider experience is one sure shot indicator of competency and expertise. Experienced accounting firms with a good track record reflect how well versed they are in the accounting business, be it with the functions, rules, regulations or compliance. Also experienced businesses with seasoned accounting professionals have well put together a team that follows a structured approach that provides effective, error-free a productive accounting. We say this not to undermine newbie and promising accounting firms but experience accounting forms are easy to vet and verify the credentials.
For example, having a strong and stable and expert accounting team at Back Office Accountants helps us sprint through every accounting requirement of our client. Having a team of dedicated experts at the helm gives us ample time for a strategy to help our real estate clients discover new opportunities to save time and money.
Area of expertise: While an established back-office accounting firm will have comprehensive expertise in all accounting and bookkeeping functions, real estate is altogether a different beast to tame. A seasoned real estate business has to deal with multiple revenue streams across several departments and demands astute knowledge of compliance and ever-changing rules and regulations. So a back-office accounting firm must possess dedicated expertise in real estate accounting and bookkeeping expertise in the real estate industry to make it easier for your business.
As one of the leading remote accounting firms in the business, Back Office Accountants has been offering a full spectrum of back-office accounting services for all types of businesses. However, our core expertise lies in real estate accounting services. In addition, to provide full-scale back-office accounting services we also provide dedicated Accounts Receivable Services & Accounts Payable Services for Real Estate Businesses.
Certifications: Now that we know how crucial overall experience is for an accounting firm, certification is how you verify it. You can check out the certifications, awards and achievements that most accounting firms publish on their website. If you are shortlisting phase you can even ask the accounting firm to furnish the details of the team that handles your accounting activities. However, know that every country has its own set of accounting certifications.
Tools and Technology Stack: Technology has been making accounting less time consuming, more efficient and productive. Unlike the early days, accountants today are no longer burdened by the tedious and repetitive work all thanks to proliferation of accounting technology. Be it the cloud, AI, ML, mobile accounting and innovations in tax software – the accounting technology helps automate and streamline accounting tasks to help accountants focus on strategy, critical thinking and judgement.
Given the high volume of work in real estate accounting, one must make sure that the accounting firm is equipped with the right set of tools and technology stack to leverage the automation capabilities. The COVID-19 pushing the adoption of remote accounting is why your back office accounting firm must be technologically forward when it comes to accounting.
Client portfolio: The final and most crucial aspect of choosing the right back-office accounting firm is the client portfolio. Serving as proof of work, the client portfolio validates the expertise, experience and skill set of the accounting firm to the tee. Most firms publish case studies, testimonials, reviews and feedback of eth project they have worked on to set the expectations. As a business, you can even ask an accounting firm for personal references in case you fail to find the case studies or testimonials.
That said, Back Office Accountants is one of the most trusted accounting firms in the business that specializes in real estate accounting services. With decades of experience in providing full-scale back-office accounting services, we are equipped a team of expert CPAs and an advanced technology stack that can help you level up your accounting and real estate account payable functions. If you are looking for a back-office accounting firm with the perfect mix of expertise, experience, technological and resource infrastructure, you can contact us here: https://www.backofficeaccountants.com/