Choosing the right bookkeeper
Finding the right bookkeeper can make all the difference for your small business. A great bookkeeper can have a positive impact on how you feel about the financial aspects of your business. They can also take care of a multitude of details while you go about running and growing your company. After researching various sources, we’ve come up with a little summary of what you should look for and think about if you are going to hire a bookkeper (Exigo Business Solutions, Quickbooks Intuit, SLC Bookkeeping and FitSmallBusiness.com)
Determine Your Needs
Determining your needs is a good place to start understanding what a bookkeeper can do for you and your business. How big is your business? How much work do you want to let go of doing to free up your time in order to focus your energy on growth and business development? Are you willing to use new technologies and apps? Did you want someone to help set you up on Quickbooks online or do you want them to manage everything? As Quickbooks Pro Advisors we can do both! We strongly suggest the use of apps and new technologies to help get information in real time from anywhere!
Personality
By asking your bookkeeping prospects lots of questions, their personalities will naturally come forward. What does your gut tell you about your comfort level when working with this person? Trust your gut when it comes to assessing the personality fit of a potential hire.
Tech and Knowledge Check
Some professionals are guilty of earning their credentials and never looking back. And while most bookkeepers make the effort to stay abreast of evolving tax and business regulations that could affect your company, it shouldn’t end there. The best bookkeepers have strong technology skills, and one of the questions you need to ask is whether they have experience in your preferred accounting software:
“My accounting software is ______. Do you have a certification or experience in that software? Which product line and version of that software are you experienced with?“
Further qualify their answer by asking which version and product line they know. QuickBooks, for example, comes in several major lines (i.e. Pro, Premier, Enterprise and Online). Plus, a new version can come out each year, so if they’re working with a three-year-old version, they may not be familiar with some of the new features of the latest. To make sure they can handle your preferred software, be sure to ask:
“What do you do to stay up to date in accounting and technology?”
You should also ask them how they stay current with new technology solutions in their industry as well as info on training or professional courses they may currently be taking.
Look Beyond the Ledger
Find a bookkeeper who offers advice and support as well as transnational and recording services. Bookkeepers work with lots of financial data, so they are uniquely qualified to make suggestions, or offer advice. Find a bookkeeper who is willing to be a consultant so that you can make use of your financial records as thoroughly as possible.
The Business Side
Some bookkeepers invest in building their businesses and creating processes that make it easier to work with them. Other bookkeepers simply show up and wait for you to tell them what to do. Get a feel for how established and professional they are by asking them:
“Do you have a process that you go through when you do the books each month?”
If they wing it without an established process, it means they don’t have a lot of controls in place. Bookkeepers should at least have a checklist of items that they work from each month, even if they’ve had the same client for decades. Expand on their business operations by asking a weighted question, such as:
“What payment options do you take?”
This is convenience to you, of course, but it can also tell you how much the bookkeeper has developed processes in their business. The more of a true business owner the bookkeeper is, the more you can rely on them to help your business. Continue your inquiry with a question regarding their commitment to your needs. Ask:
“How often will my account be serviced? What if I have an emergency?”
More service for your account means you will likely have to pay more money, but it also means your service will be more supportive and effective.
Finally, see if the service fits into your budget by asking the all-important question:
“How and what do you charge?”
Fees should be discussed upfront as much as possible so there are no mismatched expectations. About half of all bookkeepers now charge a fixed fee, and the other half charge by the hour. A few bookkeepers are starting to offer packages or bundles of services, which can include the software, technology fees, bookkeeping and other services you need. Ask about pricing options to see what fits into your budget.
Do Your Research
A bookkeeper is a vital part of a growing small business, but hiring the wrong bookkeeper can hinder your operations and eat up much-needed cash flow. Instead, be sure to conduct due diligence to ensure your new bookkeeper is the right fit.
