You’ve successfully launched your business. The office is now up and running. You’ve welcomed your first customers, handled their needs, and your employees are enjoying it as much as you are. As the days pass, however, you find yourself dealing with a seemingly endless pile of paperwork.
Every business is required to keep a record of each transaction. Such transactions include your sales, expenses, payroll, taxes, and essentially every movement of money that comes in or goes out of your business.
Although it’s highly possible to accomplish the tedious task yourself, most business owners are not trained in bookkeeping. Even more so, the many complexities of running a startup business can already be much too overwhelming, so it’s a common practice to simply hire a credible bookkeeper.
Hiring the right candidate is easier said than done, but this quick guide takes a look at the elements you need to consider during the hiring process:
1 – Understand what you need
Hiring a bookkeeper means welcoming another team member into your business. You need someone you can trust who understands your business. Here are some factors to consider:
- The type of business you run: Every industry has nuances. Finding a bookkeeper that has experience in your industry is a vital aspect of making a good pick.
- The transactions: How many transactions do your business make daily, weekly, or monthly? By determining this, you’ll have an idea of what type of bookkeeper you’ll have—a full-time employee or a part-timer?
- Firm or consultant: You have two options when it comes to bookkeeping services. You can either hire a bookkeeper from a firm or an independent consultant, but take note that bookkeepers tend to handle several clients at a time. This choice depends entirely on your business size and needs, so choose carefully.
- Your key dates: This includes payroll, meetings, and tax season. You’ll want to know exactly what your business requires, especially on the most crucial dates—only then will you be able to finalize the standards and characteristics you’re looking for.
2 – Check for Reviews
In this day and age, it is more important than ever to do the proper due diligence when deciding to work with a new service provider. The best place to start would be on Google. Typically, a business should have a minimum of 10 reviews, and a score above 4 to build on the first level of trust. At Kinden Accounting & Advisory Services, we have a perfect 5.0 rating across all of our review platforms, including on Facebook.
3 – Know the qualifications
Chartered Professional Accountants must meet strict entry requirements to receive their designations, and continue to develop as professionals over the course of their careers. They are bound by a code of conduct, which requires them to always act in their clients best interests.
Bookkeepers don’t have this requirement. Specifically, any person is allowed to call themselves a bookkeeper, even if they have no formal training or experience.
As you look for the right candidate, check for certifications. Do a thorough check of past clients and talk to them if possible. Their resume may communicate one thing, but the scope of their work ethics can only be gauged from previous employers!
If you hire a CPA, they are qualified to do your bookkeeping, financial statements, and tax filings. If you go for a bookkeeper, you’ll still need to hire an external CPA to handle your financial statements and tax filings. This often results in you having to play mediator between your bookkeeper and external accountant. At Kinden CPA, we have developed a process that combines these elements. Your bookkeeping, financial statements, and tax filings bundled together resulting in a seamless accounting experience. You won’t have to play mediator, and you’ll save money by keeping your books clean throughout the year.
Your Financial Partner
It may not seem like it, but bookkeepers command order in environments that could have otherwise been consumed by chaos. They work through all the invoices, bills, payroll, and other numbers that flow in and out of your business, ensuring that they all funnel into the right places.
By doing so, you’re able to review accurate reports with all the data perfectly balanced. Even more so, bookkeepers become your financial partner. By turning numbers into meaningful financial data, you can keep track of your business’s health and make well-informed decisions, especially choices that could propel your business forward.
For bookkeeping services in Halifax, get connected with us at Kinden CPA! We offer you stress-free, paperless solutions, all guaranteed to help your business reach its full potential. As an online accounting firm, we’ll provide you with excellent services anytime, anywhere.