Things Network Marketers Should Look for in an Accountant

It can be very difficult to find an accountant for your networking marking business (also known as direct selling) let alone a good one. A good accountant for your business is one who understands how to take the tax laws and apply them to your niche. That accountant should be able to do your taxes and help you grow your business at the same time.  They can do this by completing tax returns and helping with long term tax planning, business planning, networking and your personal tax planning.

In order for this to work you must completely trust your CPA with the financial future of your small business. It is important to make sure this person truly understands what you need and can help you from a financial perspective. Many network marketers don’t feel that they bring in enough volume to require a full or part-time accountant. This is usually not true. The more you regularly have your business reviewed financially the more your business will benefit. This will help you to avoid having to leave every invoice, receipt, and ledger for the tax preparer at the end of the fiscal year.

These are some of the functions an accountant will normally take off of your plate:

• analysis or problem-solving advice
• tax return preparation
• cost saving strategies

When your business really begins to take off these are some of the duties an in-house or virtual accountant will take care of:

• payroll accounting
• financial statement preparation and analysis
• general ledger/ chart of account maintenance
• responsibility for daily transactions
• treasury and cash management including bank reconciliations

Don’t just choose the first accountant that you find in your searches. This is your money we are talking about, find someone who knows what they are doing. But, before you start searching for the right accountant for your network marketing business it is crucial that you determine the qualifications that this person must possess. There are times when a non-certified accountant can fulfill your needs but when it comes to tax advice and return preparation you should look to accountants who are certified and licensed. You should also look for someone who is an expert in the network marketing industry.

Before contacting any potential accountants, you need to have a list of exactly what services your business needs from them. Depending on what you require may change where you look. Sometimes the best place to find help is from your friends, family, or people in your industry. Ask people you trust for referrals. Tell them you are looking for an accountant and what you need from this accountant. After you have a few options call them in for a meeting. Meet with more than one accountant even if the first person you meet seems to rock. Most people can’t afford to make a hiring mistake especially when it comes to an accountant. Always ask for references. If this person is as good as they say they are there should be people who will vogue for that.

If you are a direct seller, then you need an accountant who understands what you do. Even though you might not want to spend big bucks, the cheapest isn’t the best route either. Find an accountant who makes you feel comfortable, has a good track record, and has excellent credentials. If you keep all of this in mind when searching for a CPA for your network marketing business you should find success.