How to Choose your Bookkeeper – Improve Profit & Save Time

Friday, 16 Mar 2018

As a vital part of all business, the right bookkeeper can either be a great success or failure. Hiring the right bookkeeper for your business is critical and time should be taken in this selection.

So how can you accomplish this?

There are four things to consider when searching for a business bookkeeper best suited to your business.

1. Do they ask questions?

A great bookkeeper asks questions which are relevant to your business to ascertain a good understanding of you and your financial position, assisting the growth of your business while keeping costs to a minimum. They will also share ideas with your company regarding ways of increasing revenue, financial-planning strategies, budgeting, cash flow and many other cost-saving tactics to improve performance and business growth.
They should take the time to get to you know and what you need.

2. Efficient and Organised

It is a critical factor for your bookkeeper to have adequate knowledge of the industry and your business practices, processes and requirements. This allows them to begin full speed ahead.
They should be enthusiastic about achieving your business goals and objectives resulting in your financial success. With a keen eye, meticulous care around maintaining your accounts; being current and free from any errors. Your bookkeeper will make your processes more efficient where possible, have them adhered to and will deliver timely reporting to meet the deadlines and time restraints of your business.
A great bookkeeper will bring structure and organisation into your busy business life.

3. Communication Skills

Practical communication skills are fundamental to success in many aspects of life. With your bookkeeper, it is essential that the communication open and active.
They must be conscious of your business operations, forecasted goals and plans along with any issues to complete their job correctly. They should also have the skillset to work towards enhancing the relationships between your managers, suppliers and customers alike.

4. Trust & Ethical Values

Ethics and trust are inextricably linked, and it is paramount that all sides need to be comfortable with each another to construct a stable relationship. Your bookkeeper should assist in creating processes that create trust and full transparency.
There need to be check and balances so that the business owner is always in control. Yes, the bookkeeper will be doing all the work, but they need to show the business owner that everything is done correctly.
Most professional bookkeeping firms will have an engagement letter that outlines rules and responsibilities of all parties. That way, there are no disagreements regarding quality and volume of work.

So, is your bookkeeper the one for you?

By finding the perfect bookkeeper, the stress that comes from managing your books by yourself will be taken away. Most notably, they should always be engaging in training, upskilling and certifications. By finding a great bookkeeper, the profitability of your business should increase and your stress decrease.
Through creating processes for the collation and collection of current and correct financial information, successful business is established, which will also reflect through a robust bottom line.

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