When you’re ready to grow your business, bringing in some outside expertise for your finances can be a wise move. Certified Public Accountants (CPAs) aren’t just good with numbers—they know how to turn those numbers into actionable insights.
An experienced accountant has worked with dozens (possibly hundreds!) of small businesses. So they usually have helpful advice for making a plan to steer your growth.
Assuming you’ve already found an accountant you want to work with, what questions should you ask? We cover the top questions to ask an accountant to arm you with the info you need to make better business decisions.
What can I do to manage my cash flow better?
Cash flow is the lifeblood of any small business. It allows you to cover expenses, pay your employees, reinvest in the business, pay off debts, give yourself a return on your investment, and weather any unforeseen circumstances.
If you aren’t managing your cash flow, a great business model and healthy revenues might not be enough. So ask your accountant whether they have any recommendations. They may suggest new key performance indicators or receivables collection practices. They may also help you create a cash flow projection so you can predict and plan for any temporary cash shortages.