5 Tips to Choose A Bookkeeper for your Business
Bookkeepers are an essential part of any company, and they can either make or break a business. Ensuring you have time to hire the correct person for this role is vital. So, how do you achieve this task? This article provides five considerations to make when searching for the best business bookkeeper.
#1: Organized, Efficient, And Process Driven
A good bookkeeper is a person that understands the relevant industry, your company’s processes, and the business requirements so you can hit the road running. This professional ensures all procedures are streamlined and adhered to. He or she provides you with timely reports and meeting any deadlines you set in your business.
Bookkeepers should also have a strong dedication to the company’s financial success, as well as the business success. The bookkeeper needs to have a strong eye for detail, and must care about keeping the accounts updated and error-free.
#2: Trust And Ethics
Ethics and trust are paramount when finding a bookkeeper. Both of the parties involved must feel comfortable with one another to ensure a business relationship is built on trust. It is highly recommended that you provide all the correct information to the bookkeeper so they can maintain records that are both accurate and up to date. It would make good business sense to protect the company by having a confidentiality contract in place.
While it is important to trust the bookkeeper, you need to ensure that the company is also protected. For instance, it should not be necessary to provide bookkeepers with access to the company’s bank accounts. It is fine for the bookkeeper to prepare supplier payment files. But the company owner is the person that will process the final banking payment. Furthermore, when new suppliers are obtained, checks should be performed to ensure that the bank account being paid to be a genuine supplier account with all bills supplied being legitimate.
#3: Having Up-To-Date Technical Knowledge
It is essential that all bookkeepers have an up-to-date knowledge of bookkeeping software and attend bookkeeping classes relatively regularly. Bookkeepers who are familiar with online accounting software are able to automate various procedures and reduce the time spent on basic data entry. Cloud-based systems assist bookkeepers in keeping accounts updated and enabling business owners in identifying issues more quickly. This helps the company make swift decisions to improve performance and promote company growth.
#4: Strong Communication Skills
It is vital that the bookkeeper have strong communication skills to keep the line of communication open. A bookkeeper needs to be aware of business operations, their duties, and the issues involved with their position. The ideal professional will have the ability to improve relationships with customers, managers, staff and suppliers throughout the company.
#5: Asking Questions
A competent and proficient bookkeeper is one that asks relevant questions. He or she will also share ideas with the company owner regarding methods of increasing revenue, financial planning techniques, cash flow, financial budgeting, and various other cost-saving strategies to increase the level of business performance and growth. A strong understanding of the company and its financial position can assist the growth of the business while keeping all costs to a minimum.
Most importantly, you need to ensure that the bookkeeper is trained, certified, and skilled. Bookkeepers registered as BAS Agents are required by the Tax Practitioners Board to have qualifications, skills and experience regarding the bookkeeping services. This type of bookkeeper is also required to have industry experience of a minimum of two years operating under a standard code of conduct. To remain a certified BAS agent, the individual must constantly re-certify every three years.
Employing the correct bookkeeper will remove all the stress of managing the company’s books. Not only will it ease the load, but good bookkeepers can make the company more profitable by maintaining an accurate and updated financial bottom line.