Jan 18, 2023

How to Select the Right Fractional Accounting Team

fractional accountant team

Fractional accounting is perfect for startup companies that need help forming an accounting team without a full-time commitment.

While remote accounting services as a whole can help your business save time and money in the long term, only some fractional accounting teams will be a good fit for your needs.

Let’s take a closer look at the best approach to take when tracking down a fractional accountant for your business’s financials.

Determine Your Needs

Every business is unique. From the size of the business to the types of products you sell, your business details will create specific needs for the types of accounting services you need.

For example, let’s say your business is brand new and needs a CFO in place. A team like OSMEAC Solutions can provide you with a fractional CFO. This service could fulfill your need for long-term direction while helping you avoid the cost of hiring, training, and paying a full-time CFO.

Whether your needs are as big as a CFO or as minor as needing help during tax season, take inventory of your needs. Knowing where you stand is the best start towards making a sound investment in a remote accounting service.

Research Potential Teams

Once you have your needs nailed down, it’s time to look for a remote accounting team that can fulfill them. Only some teams will offer all of the services you desire. So, it’s best to perform thorough research and find a group that touts all of the services you need and has experience working with your industry.

Check Their Credentials

When finding the right fractional accounting team for your business, it’s important to ensure they have the proper credentials and licenses. Not only do you want an experienced team that can provide accurate financial advice, but you also want a team that is in compliance with state and federal regulations.

Checking a remote accounting team’s credentials and licenses ensures they are qualified professionals who understand the business’s financial complexities.

This lets you rest assured knowing your finances are being handled by experts who will help keep your company compliant with all applicable laws and regulations.

Price Comparison

Comparing prices is important when selecting a fractional accounting team for your business. While the cost of services may seem like an afterthought at first, it can make or break the success of your finances in the long term.

By carefully researching and comparing prices between remote accounting teams, you can ensure you’re getting quality services that fit your budget. Not only will this save money in the short term, but it will also help improve overall cash flow over time.

Additionally, price comparison ensures you get maximum value from every dollar spent on accounting services while avoiding any hidden fees or additional costs down the line.

Seek Excellent Communication Skills

Communication skills are an essential part of any fractional accounting firm. With strong communication, the team can manage finances and effectively provide accurate advice for your business.

This means that not only should they be able to explain financial concepts in terms you can understand clearly but also actively listen and ask pertinent questions about your company’s needs so they can tailor their services accordingly. 

Good communication is key when it comes to working with a remote accounting team since there will likely be times when face-to-face meetings aren’t possible due to distance or other factors. Ensuring that all team members understand each other’s needs and expectations is paramount, so having good verbal and written skills is vital in this situation.

Experience Quality Fractional Accounting With OSMEAC Solutions

OSMEAC Solutions is a fractional accounting firm with experience in various industries and is prepared to help with large and small accounting needs. Our services are purely remote and on-demand. So, you only pay for us when you need us.

Contact us today to learn more about our services.