Deciding to outsource your bookkeeping will save you time and reduce stress. But given how important bookkeeping is to monitor your financials, it pays to do your research beforehand.
After all, there’s a lot riding on your books being completed accurately especially as they provide vital information for your accountant. When done correctly, they’ll also be able to alert you of any cash flow problems too. Find a Bookkeeper near you.
Here’s our guide on what to look out for when choosing a bookkeeper to tell you more.
Being organized is one of the most important attributes a bookkeeper needs to have. Whether you select a member of your team to complete the books or hire a professional instead, they need to be someone who has their eye on the ball.
Time management plays a huge part here since books need to be completed regularly. You’ll also need your books back with plenty of time to spare before you visit your accountant. This can only happen if your bookkeeper has extreme attention to detail and can work efficiently under pressure.
Your books should paint an honest picture of your business’s financial health. It is the responsibility of the bookkeeper to record every transaction and outgoing honestly and accurately. Be wary of any bookkeeper who advocates ‘cooking the books’ or any other dishonest tactics.
After all, such scams always get found out in the end. If HMRC launches an investigation it could have serious implications for your business and your reputation as a whole. But by choosing a regulated bookkeeper you can help avoid such a situation. Be sure to vet your bookkeeper before you hire them so that you can ensure they are ethical.
Given your books contain highly sensitive information about your business, you don’t want to hand them over to just anyone. That’s why it’s imperative you have complete trust in your bookkeeper. As well as keeping the contents of your books confidential, you also want to make sure the work they are doing is of a high standard.
As many bookkeepers are members of professional bodies such as the International Association of Bookkeepers (IAB), this is a helpful symbol of trust to look out for. Be sure to check their customer reviews beforehand, and see if they have won any other awards or accreditations that back their services up.
Up To Date Knowledge
While the principle of bookkeeping has remained the same since records began, the actual regulations are subject to change. As well as being qualified, your bookkeeper should be someone who keeps up to date with the best practices.
Bookkeeping in itself isn’t a legal requirement, but it will make your future dealings with HMRC much more straightforward if you do so. The government can ask to see your books at any time, so the last thing you’d want is outdated methods or principles being used.
To Sum Up
When hiring someone to complete your books for you, it pays to check they are the best person for the job. By choosing a qualified, dedicated bookkeeper you can help ensure this will be the case. They should be someone who you trust implicitly and keeps up to date with the latest information. That way, your books are more likely to be completed to a high standard so you can rest easy.