When you’re running a business, dealing with finances is arguably the most important part. Unfortunately, it’s also one of the most confusing parts. Trying to keep up with payroll, taxes, invoices, and all the rest can make anyone’s head spin.
Hiring a bookkeeping service can help you get your financials straightened out and your business on the path to growth. Over time, the right bookkeeper can become more than a contractor – they can become an integral part of your company. Read on to learn how to pick the perfect bookkeeping service for your company.
On the surface, a bookkeeper is the primary scorekeeper for your business. They “keep your books,” making sure that your payroll goes out on time, your invoices get paid, and your checks clear. But a good bookkeeper can be so much more than that.
A good bookkeeper can become a true partner for your business. They can offer you advice and guidance as your business grows to help you make the best financial decisions. You can depend on their advice to make the smartest choices and bring home the biggest paycheck for everyone.
One of the first things you want to look for in a bookkeeper is the right experience. You want to work with someone who knows their way around the block and who is familiar with how the world really works, not just with what their textbooks say. But you also want to work with someone whose experience fits nicely with your needs.
Look for a bookkeeper who has worked with businesses in your industry before. If you can’t find that, look for someone who specializes in your company’s specific financial needs. If this person is to become a trusted member of your team, they need to know the ropes.
Trying to find a good bookkeeper for your needs can be tricky, so don’t try to do it on your own. Reach out to your networks for advice on who they would hire. Start on social media and by talking to your friends and family who own small businesses.
From your friends and family, expand out to other local businesses, especially ones in industries similar to yours. Check with your local government and local business associations, too. They may be able to recommend a good bookkeeper for you, as well as helping you avoid the bad bookkeeping businesses in town.
When you’re reaching out to bookkeepers, it’s a good idea to sit down first and think about what you need. Every business’s accounting needs are going to be different, and knowing what you need upfront will make this process much easier for you. It will also help you find a bookkeeper whose skills best suit your business.
Think about the practical side of the job, too. Do you want to hire someone to work full-time in your office or outsource work to a different business? Do you need someone in a few days a week or just someone to come handle the finances once a month when payroll and invoices come up?
A major part of establishing your needs as a business is establishing your budget for bookkeeping services. For obvious reasons, a full-time, in-office bookkeeper is going to be much more expensive than a contract worker who only comes in a couple of days a week. You have to find the right balance between your needs and your budget.
A good way to approach this may be to think about how much time and money a designated bookkeeper could save you. How much does one of your other company employees currently spend handling bookkeeping tasks? How much money are you losing by not delegating these tasks to a professional?
Many times, a sub-par bookkeeper can become a reactive force. They may run payroll or invoices once a month or run a financial report when you ask for it. But the rest of the time, they may not make any special efforts to make sure your company is turning its best possible profit.
A good bookkeeper should be proactive in helping you improve your company’s financials. They should be pointing out areas where you can cut back and other areas where a little more spending could boost your growth exponentially. Look for someone who’s going to take a passionate interest in your company’s success as you do.
It’s also a good idea when you’re shopping for a bookkeeping service to ask about their team setup. Some companies may have a rotating group of accountants who handle your bookkeeping services. This could mean you’re working with a new person every month or two.
Ideally, you want to work with the same bookkeeper for as long as you have the service. That person will get to know you and your business, your goals and approaches, and what’s worked and hasn’t worked in the past. Having that kind of continuity in a bookkeeper can be invaluable.
A good bookkeeping service can become as important a part of your business as your upper-level management. They can advise you on your company’s financial decisions and help you make sure your business is on the best path for growth. Remember the tips we’ve listed here and you’ll wind up with a bookkeeping service that will help your company grow exponentially.
If you’d like to get started with the best bookkeepers in the Humble, TX area, check out the rest of our site at Stander & Company. We provide bookkeeping and payroll services, as well as advisory and tax services. Contact us today to start running your company’s finances the smart way.