Suppose you’re thinking about choosing a local bookkeeping service for your small business. In this situation, it’s important to know what variables you ought to consider. Certain characteristics can make or break the success of a bookkeeping firm. By extension, they’ll also affect the businesses they serve. Here are five critical factors that you should pay careful attention to as you search for the right bookkeeping service in your local area.
1: Only work with bookkeepers who show relentless attention to detail.
We put this one first because it is the one thing that sets great bookkeepers apart from everybody else. The professionals who will do the most good for your business are the ones who ask the most questions. They’re straight shooters who insist on understanding every line item on your ledgers. If it’s not clear where an expense came from, they will find out. You need these kind of people on your side. They ensure your company’s solvency and compliance with accounting practices and tax laws.
2: Consider choosing a local bookkeeping service with experience in your industry.
At the end of the day, numbers are numbers. A good accountant can figure out what’s going on regardless of their background. That said, it’s better to work with a bookkeeping company with experience in the same industry as your own. This factor gives them a better understanding of your processes. It’s easier to see what kinds of costs and incomes are reasonable, and which ones would be unusual. Such bookkeepers spot errors quicker, and provide more valuable insights into potential improvements.
3: Make sure they use software that’s compatible with your systems and processes.
This point is absolutely crucial. One of the most dangerous situations in business is when your bookkeeper has too much power. The proper role of your bookkeeper is to record and help you interpret your financial data. They should never be capable of keeping secrets from company stakeholders. Make sure that never happens. You and your bookkeeping company must use compatible accounting software. Appropriate individuals within the company should then have access to all the information. This provides double-layered security, so that no one can hide anything inappropriate.
4: Focus on choosing a local bookkeeping service with strong communication skills.
This is where it sometimes gets tricky. A good bookkeeper is more than a number cruncher with their face in a calculator all day. Effective bookkeepers need to be able to to explain to you what’s going on with your money. The best can paint a verbal picture when they talk about your financial situation. Make sure that the firm you choose to work with provides you with such skilled communicators.
5: Bookkeepers who operate via flexible contracts are better for your bottom line.
As with any other employee, hiring a full-time in-house bookkeeper is expensive. Depending on the stage of development your company is in, that expense may not be necessary. If you’re starting out, or barely beginning to scale up, you may only need somebody to work part-time. You may find it even more cost-effective to work with a firm that provides bookkeepers for you as needed.
It may be that you only need your bookkeeper to check things out for a couple of hours each week. Or you might need a fast-growing team to keep up with the paperwork. In either case, a service like SyncLedgers can be invaluable.
Make sure to reach out to SyncLedgers today for bookkeeping help local to Greater Salt Lake City! We know Silicon Slopes, and the growing Utah business scene. We understand your particular needs when choosing a local bookeeping service!