As the business grows, things get busier in the daily operations – making it challenging to manage your finances and cash flow.
Outsourcing bookkeeping is not an easy task too. It is important to identify what you can offload from your responsibilities. Once done, looking for the right partner comes next.
Here is a list of questions you can ask when outsourcing a bookkeeper:
Scope of work
Know if the bookkeeper can manage all bookkeeping tasks you need assistance with. It avoids possible frustrations over lack of capabilities. The most commonly outsourced bookkeeping services include:
- Accounts Payable
- Accounts Receivable
- Bank reconciliation
You may get an idea of the scope of work if the bookkeeping firm or the bookkeeper has an existing website.
A bookkeeper can either be a specialist or a generalist. Ensure that the bookkeeper has the qualifications to handle the workload you will outsource.
For instance, you need a Registered BAS Agent if you need someone to lodge your BAS monthly, quarterly or annually. This ensures you receive a professional service because BAS Agents are bound by a professional code of conduct.
Level of expertise
Bookkeepers have various levels of experience and expertise. Their familiarity with your business or industry is crucial to transition smoothly and faster.
A bookkeeper with a vast experience across industries can offer bookkeeping solutions that fit your business structure. More importantly, they have established a process to ensure all transactions are accurate and timely.
Accounting software specialty
Familiarising yourself with accounting software – like Xero, Quickbooks, and MYOB – takes a while. But having a bookkeeper who knows these accounting applications can help you navigate and work smarter. They can explain how you can utilise these tools for your business.
Check how they keep confidential details secured from online threats. This can be found in your agreement so make sure you read it thoroughly.
Bookkeepers have different pricing structures, depending on the services they offer. When reviewing the pricing structure, consider the quality of work the bookkeeper provides. A cheaper price for the bookkeeping service does not always mean you are saving money. For example, inaccurate invoicing costs more if more time is spent just to make amendments.
What clients say highlights their best experience with the bookkeeper. Testimonials provide insights into how the bookkeeper works and delivers, what sets them apart from other bookkeeping service providers, and the benefits they can offer to your business.
Looking for a qualified bookkeeper?
Focus Bookkeeping provides quality bookkeeping and BAS services for many businesses. We offer solid business advice to ensure you understand the financial and obligatory perspective of your business.