Financial errors can make your company go bankrupt! You can’t afford even the slightest mistake, or your hard work will go down the drain. A professional and highly-skilled bookkeeper can keep your business in tip-top condition. But how do you hire one? Read on!
How to Hire the Best Bookkeeper for your Business
- Prioritize Credentials and Credibility
When hiring a bookkeeper for your business, it is imperative to ascertain their credibility and professional records. The industry is brimming with individuals and firms claiming to be what they are not. And if you don’t tread carefully, your business will suffer dire consequences. Check their credentials and online track record. If you intend to use an online bookkeeping service, note the reviews and testimonials and hire from reputable sites.
In Australia, the ICB offers a bookkeeping and accounting certification to individuals looking to become registered activity statements (BAS). This is the minimum qualification for Bookkeepers. Make sure you trust and are comfortable with the person or company handling your business finances. Because if you hire the wrong service, they can ruin your records or embezzle your hard-earned money!
- Ensure that they Have Tax Experience
Taxes can overwhelmingly impact your business in the long run, so it is critical to minimize your tax burden while conforming to tax laws and regulations. Otherwise, your business will struggle to survive and may eventually sink.
That said, ensure that your chosen bookkeeper has extensive knowledge about tax laws and will produce a tax-efficient structure for your business! Ask them relevant questions to determine their experience with tax laws and fish for records that attest to their expertise.
- Confirm Accounting Software Utilization
Before nodding your approval, you must confirm the accounting software they use to execute bookkeeping tasks. Proficient bookkeepers typically use renowned accounting software like Xero, Quickbooks, and MYOB, and good software equals quality bookkeeping with little to no errors.
You should also inquire if they will work with your preferred software. Also, Will you get administrative rights and permission to access their software? This has to be decided from the get-go because you must have access to your financial data, and transparency must be established for your business’s protection.
- Consider Communication Skills
Most people hire bookkeepers for their business because they are not good with numbers! So, if you fall into this category, hiring a professional with good communication skills is paramount.
Bookkeeping isn’t a solitary role; the professional has to collaborate with other company functions. Hence, you need a team player who knows how to communicate effectively and must be able to present and simplify figures for easy understanding.
- Check Attention to Detail
Numbers are tricky, and the smallest mistake can spell doom for your business. As such, as demonstrated by the job description, you must ensure that the prospective bookkeeper pays meticulous attention to financial planning, tax compliance, cash flow, and other bookkeeping facets.
There should be no room for the smallest errors; when they occur, the bookkeeper can rectify them in record time and without hassle. They must also prove their ability to detect and perceive errors!
To wrap up, these tips will help you hire the best candidate for the job. And if you don’t know where to start, consult Paul Siderovski’s financial experts for free!