There are multiple individuals and companies out there who now offer the service of bookkeeping. What does bookkeeping entail exactly? Bookkeeping essentially covers any form of recording an organization’s financial transactions. Some of these transactions include cash flow, billing and lines of credit. The individual who performs this function is known as a bookkeeper or an accounting clerk. It is paramount to select a quality bookkeeper for the smooth running of the businesses and for adequate monitoring of profits, losses and expenses. Here are some characteristics to search for when making this important business decision.
1. Referrals: do you know of anyone else who recommends their services? Word of mouth and personal recommendations are the best way to judge the services offered by potential bookkeepers. This could come from friends and colleagues or online reviews by past customers on platforms such as Yelp and Google Places.
2. Is the service custom fitted to your needs? It’s important to note that cookie cutter bookkeeping procedures don’t exist for all persons and businesses. Make sure you select a bookkeeper who takes the time to understand your business and design for you the perfect service package for you.
3. Do they have the appropriate qualifications for the industry? Whilst experience in the bookkeeping world may be sufficient over time for a bookkeeper to offer professional services, while seeking out the best ones, qualifications are helpful in the weeding out process. Those who concentrated in business, finance and accounting fields of study usually have the adequate foundation to build upon their skills. Computer skills are also fast becoming a necessity in the business. It is therefore necessary to ask for qualifications and past work experience to ensure future quality services.
4. Would you prefer to have further advice and consultation? You should consider if you want the services offered to stop at the books or if you would like a future business advisor who understands your financial transactions. This would be invaluable as professional consultation can sometimes make the all difference in the success of your business.
5. Do you get more value than doing the bookkeeping yourself?
Of course the main overarching question most people have when considering bookkeepers to hire is if they even need to pay somebody else to do the job. It is however important to understand that the value of having freed up time after outsourcing this process allows you to dedicate the necessary time and energy required in the other parts of your business and reduces stress and unnecessary risks due to armature mistakes.
Contact Hatch and Associates Inc. today to receive quality bookkeeping services customized to your specific needs!