How to Choose an Accounting Firm for your Business

If you are planning to set-up a company and invest in Georgia, first you need to hire a qualified accountant, who is well-aware of local legislative requirements and is familiar with the local tax code. In this article we will be discussing the various issues that investors usually face with this decision. 

Outsource company vs individual accountant

Default choice for foreign investors is to go with the outsourcing option over hiring an individual accountant. This is because outsourcing firms offer more security and have trained staff, whose qualifications are updated through regular trainings. Accounting firms usually offer responsibility insurance, meaning that they are responsible for any tax penalties caused by their negligence. Besides, accounting firms have usually quality control mechanisms and internal audit procedures to ensure accuracy of the accounting records and tax returns. Therefore, it is our recommendation not to reinvent a wheel and go with the outsourcing option. Outsourcing companies usually provide accounting services in Tbilisi and other large cities of Georgia. 

How to choose between the local accounting companies

Simple Google search usually provides you with 4 or 5 good options. Top results are usually good starting points for your first filter. Once you have top 4-5 options, you can dig deeper with your analysis through comparing the offered accounting service prices. If prices turn out to be similar, or in the close range, you may then go ahead and conduct more detailed analysis from service quality perspective. Good starting point is usually provider’s webpage. Once you are down to couple of options, you can then contact them directly, either via phone or email, however, contacting via phone is considered a better option. Apart from Tbilisi, large accounting companies also offer accounting services in Batumi, which is the second largest city in Georgia.