July 16, 2016
Bookkeeping is something that many business owners take on themselves, particularly when their business is new and trying to find its feet. Business may be slow in those initial stages, affording them ample time to learn the necessary aspects of basic accounting and bookkeeping; skills that are always useful to any business owner.
But as their business picks up and their customer base grows, most company owners find that they no longer have the time to spend doing such work, particularly as the growth of the business generates more and more paperwork and requires more and more numbers to be crunched. Then it is time to employ a bookkeeper; whether on a full or part time basis, their services will prove invaluable, and a good bookkeeper will be a sound investment for both business and owner.
Firstly, calculate how many hours you would need a bookkeeper to work?
If you have been doing your own bookkeeping until this point, calculate as accurately as you can, how many hours you have spent doing it. Was this enough time to get all of the work completed, or did you need longer?
While a bookkeeper will undoubtedly prove an invaluable asset to your business, if you think you will only need one on a part time basis to begin with, then employing one on a full time basis would obviously not be cost effective. On the other hand, if they are not able to complete all of their work in this time, then your business will naturally begin to suffer, as your records will not be up to date, financial reports will not be timely and your staff may not get paid on time.
How do you go about choosing a bookkeeper for your business?
While there may be a vast array of qualified and experienced bookkeepers out there, finding the right one for your business is essential. You will need to be able to demonstrate exactly what you expect of a bookkeeper, in order to find one that matches your requirements:
It may also go without saying, but don’t forget to thoroughly check their professional credentials prior to hiring them, and try to find out if any other local business owners have had a positive or negative experience with them. Being able to establish a sound working relationship with your bookkeeper could also prove crucial to the success of your business; you will need to be able to communicate with each other as often as is necessary, and liking your bookkeeper just may make things easier!
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