Maybe you’re a small business owner who has decided that it’s time to outsource your bookkeeping, or maybe you are starting a new business and want to make sure you keep on top of your finances from the get-go. Whatever the reason, finding a good Quickbooks bookkeeper is essential to keeping your business finances in order.
If you are wondering how to find a Quickbooks bookkeeper that is right for you and your business, you are not alone. In this blog we will be discussing a few key things to look for when searching for a Quickbooks bookkeeper.
Section 1: Importance of Bookkeeping and Accounting
Section 2: Which Quickbooks Bookkeeper Is Right For You?
Section 3: What To Look For In A Quickbooks Bookkeeper
Section 4: When To Hire A Quickbooks Bookkeeper
Let’s jump right in!
Section 1: Importance of Bookkeeping and Accounting
Many entrepreneurs start their businesses because they’re passionate about a certain product or service. However, as the business grows, so do the administrative tasks that take away from time that could be better spent developing the passion project.
This is where a bookkeeper can come in handy. A bookkeeper can help you with the day-to-day tasks of keeping your books in order, so that you can focus on other aspects of running your business.
There are a number of other reasons why you might want to hire a bookkeeper for your business. Here are just a few:
Staying Organized: A bookkeeper can help you to keep track of your income and expenses, so that you can make informed decisions about your business finances.
Saving Money: A bookkeeper can help you to keep track of your expenses and make sure that you are claiming all the deductions you are entitled to.
Accuracy: A bookkeeper can ensure that all your financial records are accurate, up-to-date, and organized. This means that you can avoid any penalties or interest charges that might result from inaccurate records.
Compliance: A bookkeeper can help you comply with all the relevant laws and regulations.
Expertise: A bookkeeper has the expertise and experience to handle all your accounting and bookkeeping needs.
Peace of Mind: A bookkeeper can give you peace of mind knowing that your books are in order and your finances are in good hands.
Be sure to check out our blog IRS Receipt Requirements to learn more about the receipts you should be keeping for tax season!
Section 2: Which Quickbooks Bookkeeper Is Right For You?
Now that you know why you might want to hire a bookkeeper, the next question is, which bookkeeper is right for you?
There are four main types of bookkeepers: freelance bookkeepers, full-time bookkeepers, firm bookkeepers, and remote bookkeepers. Each has its own advantages and disadvantages, so it’s important to choose the type that is right for you and your business.
Freelance bookkeepers: Freelance bookkeepers are self-employed individuals who work with a number of different clients. They are usually less expensive than firm bookkeepers, but they may not have the same level of expertise or be able to offer the same range of services. They also may not be available during regular business hours, which can make communication difficult.
In House Bookkeepers: In-house bookkeepers are hired full-time by your company. This can be a good option if you want someone on-site to handle your books, but it can be more expensive than other options. This option is also not ideal if you have a small business, as you may not need the full-time services of a bookkeeper or have the funds to pay for them.
Firm bookkeepers: Firm bookkeepers work for accounting or bookkeeping firms. They usually have more experience and expertise than freelance bookkeepers, but they are also more expensive. The advantages of working with a firm bookkeeper include having access to a team of experts. They usually have more experience than freelance bookkeepers thus can offer a wider range of services. However, they may be limited by location and may require in-person meetings.
Remote bookkeepers: Remote bookkeepers are usually firm bookkeepers who work remotely, either from their own home or from an office in another location. They offer the same level of service as firm bookkeepers, but at a lower cost. Remote bookkeepers use softwares such as Quickbooks to do their work, which means they may be flexible with their hours and can offer services to clients in different time zones.
When choosing a bookkeeper, it’s important to consider your needs and budget. If you are looking for a more affordable option, a freelance bookkeeper might be right for you. If you need a higher level of service and expertise, a remote bookkeeper might be a better choice. And if you prefer to meet with your bookkeeper in person, a firm bookkeeper could be the best option.
Section 3: What To Look For In A Quickbooks Bookkeeper
Look For More Than Skills
Of course you will need to consider the bookkeeper’s skills and experience when choosing who to work with. Basic Skills a bookkeeper should have include:
An understanding of double-entry bookkeeping
The ability to prepare financial statements
Experience with accounting software, such as QuickBooks
The ability to reconcile bank statements
However, since many people have these fundamental skills, it’s also important to consider other factors, such as personality and communication style. After all, you will be working closely with your bookkeeper, so it’s important to choose someone you feel comfortable with. Look for the following qualities in a bookkeeper:
Good Communication: This is the most important quality in a bookkeeper or accountant. You want someone who will listen to your needs and communicate with you on a regular basis. Look for someone who is responsive to your emails and phone calls and who takes the time to explain things to you in terms that you can understand.
Integrity: This is an important quality in any business relationship, but it’s especially important in a financial relationship. You need to be able to trust your bookkeeper or accountant with sensitive information. Look for someone who is honest and who has a good reputation.
Reliability: Can you rely on the bookkeeper to meet deadlines and keep to their schedule? A great bookkeeper will be punctual and will meet deadlines. They will also be organized and efficient in their work.
Flexibility: Can the bookkeeper or accountant adapt to your changing needs? Look for someone who is flexible and who is willing to work with you as your business grows and changes.
Attention to detail: A great bookkeeper will have an eye for detail and will be able to spot errors in financial records. They will also be able to catch mistakes that you might not notice.
Professionalism: Is the bookkeeper professional in their dealings with you and your business? Look for someone who is polite and respectful and who acts professionally.
Consider Your Needs
When choosing a bookkeeper, you will also need to consider your needs. What services do you need? How often do you need them? What is your budget? Answering the following questions will help you narrow down your choices and find the right bookkeeper for you:
Do they offer the services you need?
Are they familiar with your industry?
What is their fee structure?
What is included in their services?
What accounting software do they use?
How often will they send you reports?
How often will they be available?
Can they meet your deadlines?
Are they willing to sign a confidentiality agreement?
Can they give you a list of references?
What accounting software do they use?
Do they have liability insurance?
What are their availability and turnaround times?
Can they provide a sample of their work?
Here are additional factors to consider based on the type of business you have:
Shopify Bookkeeping: If you’re selling on Shopify (or a similar ecommerce platform), it’s crucial that your bookkeeper understands how revenue and fees are paid out. In other words, they need to know that all income will be accounted for as well as the transaction fees associated with each sale.
You may also offer your buyers payment plan options through Shopify, which requires you to record the transactions based on when the funds are received. An ecommerce bookkeeper should be able to track all of this information and keep your records up-to-date.
Retail Bookkeeping: In a retail business, it is important to track inventory levels and cost of goods sold. A retail bookkeeper should be able to reconcile the physical count of inventory with the inventory records in the accounting software.
Depending on the size of your retail business, you may have one or more physical locations. If you do, you will want to track inventory levels at each location. This can be done with a point of sale system that is integrated with your accounting software. A retail bookkeeper should understand how to set up and use such a system. They should also understand how to track sales and returns.
Service Business Bookkeeping: If you run a service business, you will want to track your time and expenses. This can be done with time tracking software that is integrated with your accounting software. A service business bookkeeper should understand how to set up and use such a system. They should also understand how to track billable hours and expenses.
(Check out our blog page to get answers to common “how-to” Quickbook questions -> HERE)
Section 4: When To Hire A Quickbooks Bookkeeper
A Quickbooks bookkeeper can help you stay organized and on top of your finances from the very beginning. However, many small businesses wait until they are already in business to hire a bookkeeper. If you are thinking about hiring a Quickbooks bookkeeper, here are a few signs that it might be the right time:
You find yourself spending more time on bookkeeping and accounting than on your actual business
You’re not sure if you are keeping accurate financial records
You’re not sure if you are complying with all the tax laws and regulations
You’re behind on your invoicing and collections
You’re having trouble preparing financial statements
Your business is growing and you need more help to keep on top of your finances
If any of these apply to you, then it might be time to hire a Quickbooks bookkeeper.
If you are looking for help getting your e-commerce, service, or retail business bookkeeping in order – book a Free Strategy Session with us today.
What other Bookkeeping questions do you have? Let us know in the comments!
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