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For your small business’s upscaling, effective bookkeeping holds the key! Bookkeepers Near Me

How much did you spend on your recent office upgrade? How much money do you owe to your suppliers? To get accurate and up-to-date records of your financial transactions like these, you must acknowledge the importance of bookkeeping.

Even the Australian Taxation Office (ATO) emphasizes record keeping for small businesses.

Due to its endless advantages for businesses, bookkeeping is no longer a luxury but a necessity. It not only helps you track your cash flow but also gives insight into what’s happening on a basic financial level. Besides, record-keeping lets you make informed financial decisions to stay on top of your finances.

Moreover, a bookkeeper will help you overcome these questioning financial challenges. If you’re motivated enough to hire a bookkeeper for your small business, here are some tried & tested tips you’d consider.

How can you hire an ideal bookkeeper for your business?

To the point, financial decision-making is important for your business to develop. It shapes the financial fortunes of your business besides maximising returns for its shareholders.

It’s a common observation that most business owners lack the aptitude of hiring an ideal bookkeeper who would add value to their business. To overcome this, I’ve compiled the following expert tips for the best hiring. So, let’s dive into this right away.

Hire someone with exemplary attention to detail

Since a bookkeeper is going to track, record, and organise your business’s day-to-day financial transactions, the candidate’s attention to detail is the deciding factor here. That is, if your bookkeeper lets things fall through the cracks and doesn’t follow up on every minute item, he/she is going to let your business down.

An ideal bookkeeper is one who is a hawk i.e. someone who fusses about being able to account for every financial detail correctly in their books.

Ask for referrals from trustworthy industry sources

When you’re hiring a bookkeeper for your small business, your obvious Google search is going to be “bookkeepers near me”. Though it’s common, it isn’t going to produce useful results.

Instead, relying on your industry’s referrals is a much better option.

Ask your fellow business professionals to know if they have contact with any trustworthy bookkeeper they can refer you to. As your last resort, you can contact the Institute of Certified Bookkeepers or ICB.

Bookkeeping software familiarity

Bookkeeping, in today’s time, has switched to easy-to-use cloud-based bookkeeping solutions such as Xero, QuickBooks, MYOB, Sage, among others. Hence, it’s recommended to find out which software among these the candidate is most familiar with. After all, you won’t want to hire someone who is an expert with software you don’t even use or have ever heard of!

Look for a professional bookkeeper

Put the myth “bookkeeping services are fairly straightforward” off your mind when you’re looking for a bookkeeper. This is because not all bookkeepers would work the same way and generate the same financial reports for you.

The standard bookkeepers offer the following standard financial statements to understand your business’s financial health.

  • Income statement,
  • Balance sheet,
  • Cash flow statement, etc.

However, you’d need someone more professional for your evolving business who could accommodate your requests regarding the statements like:

  • Statement of changes in shareholder equity,
  • A capitalization table,
  • Sources and uses of funds statement, etc.

This can only be done by a professional bookkeeper. Therefore, it’s better to hire a professional bookkeeper.

Professional demeanour of the bookkeeper

Merely business knowledge isn’t everything you must take care of. The individual’s professional demeanour is also a serious point of consideration here. Bookkeepers are the key aspect of the fiscal operations of your small business.

They will engage with both your staff and outside clients & vendors. Hence, hire someone who can conduct themselves professionally and whose personality matches your company’s culture.

Tax preparation and planning skills

The major issue most businesses face is preparing for the tax season. Hence, the bookkeeper should have the required skills to get your company prepared for tax season. For example, the candidate should know the applicable tax deadlines for items like quarterly tax estimates. Further, knowledge about how to keep books and receipts organised for the tax season and audits is compulsory.

Final verdict

To further assist you in your record-keeping, we’ve got something for you. We, at Outbooks, don’t just picture bookkeeping as mere data entry practice. It’s not something anyone can appoint a junior person from staff with no information on accounting to do.

When you hire bookkeepers, you long for peace of mind, which also involves taking chores like recording and payroll off your plate.

We take immense pride in introducing you to our certified bookkeepers who carry an abundance of experience on their shoulders and are the support pillars of infinite firms they have worked relentlessly for.

Not to forget that we are certified by XERO. In a nutshell, we are proficient in multiple-accounting software, and that’s our identity.

Contact us today to book your free trial, and you focus on the work that matters to you, and we’ll take care of the rest!

Let’s connect on +61 451320102

Or

[email protected]

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