April 17, 2024

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How to Hire the Right Bookkeeper for Your Business

hiring a bookkeeper

While doing it yourself can save money in the short term, it may not be the most cost-effective option in the long run. Their analytical mindset and communication skills make them valuable, allowing seamless interactions with team members, vendors, and clients. So, don’t hesitate to explore the many benefits of bringing a bookkeeper on board -– it could be the key to unlocking your business’s full potential. While accountants do a good job of giving strategic advice, solving tax issues and filing for annual returns, they don’t overlook your accounts on a regular basis.

I recommend posting to at least three different job boards so you get a good mix of applicants. To specifically seek freelance bookkeepers, check out our top picks for online bookkeeping services. You can also use a website that’s specifically for hiring freelancers. Expand your the accounts payable search to additional job board sites if you want to hire an employee for the role. You want to make sure you get your job posting in front of as many qualified applicants as possible. Prepare a list of questions that assess the candidate’s knowledge, skills, and experience.

Bookkeepers can be incredibly helpful resources — but they’re not free. Whether you want to hire an in-house bookkeeper, a third-party bookkeeper or an online service, you’re going to have to pay something. If you don’t have the time or experience to properly do your bookkeeping, mistakes are bound to happen. They might have valuable referrals for candidates who blend in perfectly with your company culture. Consider partnering with recruitment agencies specializing in financial roles. Though technically anyone can become a bookkeeper, candidates with an educational background in accounting or finance typically provide the best results.

Accounting software

A bookkeeper might introduce you to different software or new ways of doing things. They might help you in the long run, but there’s no denying that it can take a while to get the hang of something. While there are plenty of great reasons to hire a bookkeeper, there are some drawbacks you might want to consider. However, a good bookkeeper can be a crucial element in the growth of your business, making them worth the investment.

This is a great choice for most small businesses that don’t have cash-heavy transactions. When making a hiring decision, consider factors such as the candidate’s qualifications, experience, and fit for your business. Evaluate their ability to adapt to your company culture and their communication skills. Additionally, assess their professionalism and their alignment with your business goals. It’s crucial to select a bookkeeper who understands your needs and can provide the required level of support.

How to Hire a Bookkeeper

See the pros and cons of hiring a bookkeeper below to see if it’s right for you and your business. If your business is growing along and doing your own bookkeeping is overwhelming you, it’s usually right. Whether you’re an employer or a job seeker, our best-in-class solutions and personalized customer care will save you time and effort in finding the right talent or the right career. Ultimately, hiring a bookkeeper can be a game-changer for your small business.

  • When you sign up, you’ll be paired with a dedicated bookkeeper who acts as your in-house accounting team.
  • While accountants do a good job of giving strategic advice, solving tax issues and filing for annual returns, they don’t overlook your accounts on a regular basis.
  • Smaller companies generally won’t have enough work to employ a bookkeeper full-time, so consider other hiring options.
  • Make sure that if you’re outsourcing a bookkeeper, they can meet your company’s needs.
  • If you want to learn whether hiring a bookkeeper is right for you, schedule a free call with a DiMercurio Advisors team member.

Technology expertise typically includes experience and proficiency with applications such as Microsoft Excel or QuickBooks. Accurate financial records and expert insights from a bookkeeper can help you make more informed decisions about your rental properties. Whether that’s payroll for your staff, collecting rent, paying utilities, taking care of invoices, or running monthly financial statements, a lot goes into property accounting. One of the primary advantages of hiring a bookkeeper is the ability to maintain accurate financial records. Hiring a bookkeeper can be one of the most relieving and rewarding investments your business can make. If your business is growing and you’re at the point where your finances are becoming too overwhelming to handle on your own, a bookkeeper can provide you with these benefits and more.

How will you know if a bookkeeper embraces accountability?

Assess their technical abilities, problem-solving skills, and compatibility with your team and company values. You should also include questions to verify their familiarity with bookkeeping principles and regulations and their experience with relevant software. Though bookkeepers are not required to become certified like accountants, you may want to prioritize candidates who have earned their Certified Public Bookkeeper credential.

hiring a bookkeeper

For a receptionist, for example, you could run a simple seven-year criminal background check. However, for a bookkeeper, I recommend you include a financial background check. Evaluate the candidate’s proficiency in accounting software, such as QuickBooks, Xero, or other relevant platforms. Check their knowledge of Microsoft Excel and other software tools commonly used in bookkeeping. Look for candidates with relevant educational backgrounds, such as a degree in Accounting, Finance, or a related field. Pay attention to the candidate’s work experience, particularly if they have prior experience as a bookkeeper or in a similar financial role.

Solo bookkeeping vs bookkeeping firm

As a seasoned HR professional with over 20 years of experience, Keca is an expert in various aspects of Human Resources. In addition, the bookkeeper should know the right way of using credits when the cash flow is low. Controlling debt expenses must also be accounted for and an adept bookkeeper will know how to find the most favorable terms and rates for credit. Bookkeepers enter data into an accounting system and classify it.

Ensure all your bills are paid on time

As we’ve covered in this guide, a bookkeeper is highly valuable to a small business and can provide more services than just financial recording and compliance. Often a bookkeeper will specialize in a particular industry, so it pays to ask them about this so that they can add even more value. Make sure that you get the best out of your business by hiring a bookkeeper to help you along your journey. So whatever you do, don’t rush the recruiting and hiring process.

There are a few key things to verify before deciding to move forward with hiring a bookkeeper, so let’s talk about a few good places to start. Well, with outsourced bookkeeping available to you, it’s very important to know why you need it, what it costs, and what you should look for. We can get you connected with an experienced bookkeeper through our Xero advisor directory. Without proper bookkeeping, it would be easy for transactions to go unrecorded, left to pile up until the end of a financial period. Mistakes could be made and important details could be lost or forgotten. And bookkeeping might not be something you enjoy or have time to understand.

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