Or you may be thinking about selling your business down the line, and know you need immaculate books to do so. You already know it’s time to hire a bookkeeper for your business. Not sure where to start or which accounting service fits your needs? Our team is ready to learn about your business and guide you to the right solution. Meaning that, if you’re doing your bookkeeping on your home computer, there’s a good chance someone else has (or will eventually have) access to your business’s financial info. If your revenue is on the rise but your bottom line won’t move, it means you need to increase your profit margins.
How to find a good firm
Bookkeeping requires fewer skills and work, so hiring a bookkeeper instead of an accountant can save you money in the long run. With fewer geographic constraints, we have a larger talent pool than ever to draw from. We can find remote bookkeepers who are the right match for your specific needs. And we can help you with the hiring process from beginning to end. A good bookkeeper keeps your books clean and makes it easy for you to review and query the entries.
Questions to Ask Before You Hire a Bookkeeper
That’s why it’s important to find a bookkeeper who knows what they’re doing. However, expertise is not only measured by years of operation, or by third-party certifications. Even if your bookkeeper is insured against errors and omissions, you—or your business—are on the hook in case of errors. The effect of incorrect books could range from misinformed business decisions on your part, to misreported taxes (and the resulting IRS penalties) on the part of your business.
Remote bookkeeping services typically charge a flat monthly fee, based on how much time it will take to complete your books every month. The number of accounts you’ll be tracking—and the frequency of transactions—may affect this. A bookkeeper provides critical services to keep your business finances in order. Small business owners and solo entrepreneurs may take on bookkeeping tasks themselves, but it can cost a lot in effort and time away from the heart of their business. Your business is growing, you have an ambitious agenda, and you’re ready to reach the next level.
- They should also articulate what happens if those promises are not met.
- Decide whether you’re looking for a full-time or part-time bookkeeper or consider the services of an online bookkeeper.
- Familiarity with popular tools like QuickBooks or Xero is beneficial and ensures a smooth workflow.
- Remember that lowering your current costs may be possible, but the overarching goal is to improve accounting.
Remote bookkeeping services, like firms, have multiple employees. This lets them avoid the kinds of service gaps that may crop up with an individual freelancer. A remote bookkeeping service may use a custom app—as Bench does—that lets you message your bookkeeper directly. A firm may employ a range of bookkeepers, from beginners to experts. It’s important to ask if they guarantee a certain level of quality, so the accuracy doesn’t change from person to person.
Paying estimated taxes is a pain in the a**
Maybe you recognize the importance of keeping organized financial records but aren’t sure if a bookkeeper is necessary. One company may prefer to have a detail-oriented bookkeeper while another company may want someone strategically-minded. Bookkeeping takes different forms in different industries, and an expert in one industry may be unqualified to work in a different industry. Explore what kind of industry-specific expertise they have, plus whether they have worked with companies that have the same size, structure, or accounting agenda as your own.
Solo bookkeeping vs bookkeeping firm
By maintaining financial accuracy, bookkeepers enable businesses to make informed decisions and comply with regulatory requirements. In conclusion, hiring a bookkeeper is essential for maintaining financial accuracy and ensuring the success of your business. A professional bookkeeper can streamline record-keeping processes, manage accounts payable and receivable efficiently, and provide valuable insights through financial analysis. By entrusting your financial tasks to a qualified bookkeeper, you can focus on growing your business while ensuring compliance and maximizing profitability. If how to prepare for an audit you’re looking to hire a bookkeeper, start your search today to strengthen your business’s financial foundation.