Best Accounting Firm in Newtown PA

A strong passion for what you do is not enough to build a successful business. Your growth also depends on how well you manage the financial aspect of your business. Regardless of whether you have a finance background, the most practical course of action is to hire an accountant to do it for you so you can focus on high-value business activities that directly impact your bottom line.

We understand that finding the best accounting firm in Newtown, PA that can keep your finances on track and help you hit your targets is a tedious process. So in this article, we will provide some criteria to help you choose the best accountant who can address your specific needs.

Criteria for the Best Accounting Firm

With all the accounting firms out there, it is rather challenging to decide which one to partner with. To help you narrow down your options, we’ve outlined some criteria to help you identify the best accounting firm in Newtown, PA.

Reasonable pricing

The fees charged by accounting firms vary greatly. Some accountants offer fixed pricing while others charge by the hour. The best accounting firm for you is one that charges reasonable fees that fit your budget.

Area of Expertise

Just as doctors have different specializations, accountants also have various areas of expertise. For example, some are experts in tax, while others focus more on forecasting, budgeting, and business advisory.

They may also specialize in certain industries. So if you have a construction company, it would be best to partner with an accounting firm that mainly works with trade businesses instead of one that specializes in the e-commerce and retail sectors.

Certifications and Credentials

Would you entrust your money to someone who doesn’t have the right qualifications and certifications? The best accounting firms have a team of certified accountants who have undergone formal education and training to acquire industry-related certifications. By choosing an accountant with good credentials, you can be confident that best practices will be implemented and a high-quality service that meets industry standards will be delivered. Also, you might encourage your accountants to take helpful CPA review courses to upgrade their knowledge and expertise.

Financial Advice

The best accounting firm is not just about crunching numbers, preparing reports, and filing tax returns. Look for an accountant who can provide timely, proactive advice and share valuable insights to help you make informed financial decisions. 

Services Offered

The best accounting firm for you is one that can cater to your specific needs and requirements. If you need to outsource your whole finance department, you should look for a full-service accounting firm with a team that can do everything from bookkeeping and payroll down to more advanced financial analysis and forecasting.

Goal Setting

You know you found the best accounting firm when their team doesn’t only do the heavy lifting but also assists you in setting realistic goals and ensuring that you remain on track towards reaching them. Before hiring an accountant, find out if they can help with goal setting, as small businesses, particularly new ones, will be able to benefit from sustained growth and strategic direction.

Assistance with Audits

Tax audits can be tedious and complicated. However, with the expert assistance of reliable accountants, it becomes far easier to fulfill this requirement. The best accounting firms offer in-house audit facilities for clients exposed to these periodic tax audits.

Track Record and References

It is easier to trust an accounting firm with a good track record of satisfied clients than those without any. Check for online reviews and request references that you can reach out to in order to know what it’s like working with a particular accounting firm.

Strong Focus on Saving Money

Any accounting firm can manage your finances and ensure that your tax obligations are being met. However, only the best accounting firms can take a proactive approach to help you save smart money. The good ones can put the right structures in place and find ways to minimize your expenses.

Access to Innovative Tools

Some accounting firms offer low rates because their systems are outdated. As the business world evolves, you need to adapt by choosing an accountant who can help you work smarter by integrating powerful cloud-based accounting systems and business apps. Modern tools can help you identify loopholes in your finances, automate some repetitive tasks, keep your data secure and backed up automatically, and provide valuable insights that can help you run your business better.

High Level of Transparency

Remember, your money is at stake when you hire an accountant to manage your finances. The best accounting firms are those with robust policies around transparency and keeping you up-to-date with what’s going on in the finance side of your business.

Final Thoughts

Mismanaged finances are one of the main reasons some businesses are being forced to shut down. With this, choosing the accountant to hire is a crucial decision to make.

If you’re looking for the best accounting firm in Newtown, PA that ticks all the boxes, check out Lear & Pannepacker. From bookkeeping and accounting down to audits and tax planning, we've got you covered!

Get in touch with us today to learn more about our services and pricing.