"You may think that if you have a small business, the experience you need from a bookkeeper can be ‘small’ as well. There is nothing further from the truth. You need as much experience as you can afford, because great bookkeeping and accounting is instrumental in growing your business and maximizing your profits." (1) - Enrico Palmerino
I 100% agree! When it comes to maintaining your books, you want to hire high-quality, experienced accounting professionals. Good bookkeeping is not just about accurate data entry. An experienced bookkeeper can also help increase overall accounting efficiency and aid in tasks such as financial forecasting and budgeting. A seasoned bookkeeper can also help you spot sales and expense trends that you, as a busy owner and operator, might not notice immediately. While it is not necessary that your bookkeeper has tax preparation experience, it can be extremely helpful in identifying new write-offs when they occur and potential tax liability issues on the books. If your accounting professional is proactive, they will be not only providing you with periodic financial reports but also explaining the financials to you in a way that is easily digestible and actionable. Like any serious professional, they should also be engaged in continuing education, including keeping up on new tax updates that might impact your books.
If you are looking for high-quality bookkeeping or training and periodic review for your in-house data entry staff, contact us today! We can help.
by Heather Richard
Above Par Business Solutions, LLC
(1) https://businesscollective.com/10-critical-things-look-small-business-bookkeeper/index.html