Top 4 Tips to Choose the Best Bookkeeper
Although it's possible to do this yourself, most entrepreneurs aren't trained in bookkeeping. So it's common for businesses to outsource this everyday work.
In this guide we'll explain why hiring a bookkeeper is a great idea or even an essential part of doing business. Then we'll look at how you can hire the right bookkeeper for your business.
Understand what you need
Hiring a bookkeeper is like hiring any other professional. First, you need to understand your own requirements. Only then can you identify people who will suit the role. Here are some questions to think about:
• What type of business do you run?
For example, manufacturing businesses have different bookkeeping requirements for service or retail companies.
• How many transactions do you make on a daily, weekly or monthly basis?
This will help determine how much bookkeeping time will be required.
• Which accounting software do you use?
It helps if you're using online accounting software. Then your bookkeeper can share data securely with you at any time.
• Do you require credit control, payroll services or debt collection services to help you get paid faster?
Some bookkeeping companies can handle chasing up the money customers owe you, at a cost.
• What are your key dates?
Your key dates will include payroll days, tax return deadlines and scheduled meetings with your accountant. You'll want your accounts to be accurate and up to date before each of these dates. A key date also revolves around business performance reports. Ask the bookkeeper if they review reports every month to see how the business is performing.
1. Industry Knowledge
Consider whether you need a bookkeeper who has specific knowledge of your industry or not.
Whether you work in hospitality, retail or manufacturing, picking a bookkeeper that has worked with other clients in your industry area will give them a better understanding of the financial complexities of your business.
When looking for a bookkeeper, you want someone who is confident. A good communicator is critical for a job like this. With Numbers & Co., you’ll get more than a bookkeeper; you’ll gain a valuable asset to your organisation who makes a real contribution.
Communication skills are vital in every position, particularly for bookkeepers as they play a critical role within your business’ finances.
One requirement you should expect from your bookkeeper is that they gain a firm understanding of your business, its current financial situation, and your short—and long-term goals.
A bookkeeper who exhibits little understanding of your business or how you do things is demonstrating a lack of commitment to you and your team. Red flag!
When you hire a bookkeeper, it will (hopefully) be a long-lasting relationship.
While you might feel you get on personality-wise with your potential bookkeeper, it is smart to get an idea of what their working habits are.
Do you want someone you can ring at the drop of a hat, or are you happy to schedule weekly or monthly meetings in with them?
On the other hand, video conferencing might be the way you want to catch up if you regularly need to travel for work.
Float your expectations early on and only move forward if both parties are happy.
BONUS: 5. Growth
No business owner wants to remain stagnant, and great businesses push themselves to continually grow and succeed.
A reliable, committed bookkeeper is key to the financial aspect of success. If you’ve found that, then you’re onto a real winner. Find a bookkeeper who is passionate about your business, driven to perform their best, meets deadlines, and continually provide business insight like Numbers & Co.
Looking for the best bookkeeper in Pyrmont, NSW? Contact Numbers & Co. today!
sources: xero.com, quickbooks.intuit.com, maxbusiness.com.au
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