Every day, countless business owners make the decision to use a bookkeeper in their business. Bookkeeping is a necessary expense that guarantees peace of mind that your financial security is in safe hands. Like when choosing an accountant, finding the right bookkeeper is an important decision.
On paper a good bookkeeper will keep your accounts up to date, record all transactions and business operations, construct balance sheets, cash flows and any other financial statements you might require. But a bookkeeper should be much more than this – as a vital member of the team who not only fits in with your business, but also helps it grow towards its potential.
Qualifications
Bookkeeping is a widely performed role and it can be tempting to settle for a less qualified and often cheaper option. However this rarely works out in the long term.
Always opt for an industry certified individual, such as the Institute of Certified Bookkeepers in Australia and the UK. If they don’t tell you, ask them what education and qualifications they have. And be sure to always ask them exactly what accounting and bookkeeping tasks they are legally qualified to perform.
Knowledge of your industry
If your business relies on the thorough understanding of the way an industry works, then it goes without saying that your bookkeeper should understand the intricacies of that field of work too.
It will be very difficult to stay financially on track if your bookkeeping and accounting staff don’t have thorough knowledge and experience in your industry.
Software Systems
Today bookkeepers also utilise a range of bookkeeping software and often need to be proficient when using the programme best suited for your specific industry.
Alternatively, you may not know what software is best suited to your business, particularly if your business has undergone growth or significant changes since your system was first set up. A bookkeeper should be able to advise you towards the right software systems, like small business programs such as Sage One UK.
On-site or remote?
If you have limited office space or work from the family home, remote bookkeeping is probably the best option for you. Alternatively if you prefer your bookkeeper onsite, you need to ascertain whether they are prepared to travel and if so, do they charge?
Cost
The hourly rate for a qualified bookkeeper differs greatly depending on what tasks and how regularly you require them. While the cheapest option often appears the most tempting, it isn’t necessarily the most cost effective in the long run.
More qualified bookkeepers are also more accurate and efficient in the work they perform. With most bookkeeping charged on an hourly basis, efficiency and accuracy mean lower overall costs as you end up paying for fewer corrections and less hours worked.
Approachable
Nobody enjoys the bookkeeping process – but it’s important you can stay as involved as necessary to run your business effectively. This means establishing an approachable and friendly relationship with your accounting and bookkeeping staff.
