A good Sydney Bookkeeper matters
Bookkeeping can become increasingly complex as your business grows.
Whilst you may start off doing the basics on your own, you may in time find it non-manageable, risking non-compliance and poor cash-flow management.
Engaging a Sydney bookkeeper is a smart choice for most businesses once they reach a certain size.
A bookkeeper can assist with routine tasks including producing basic accounts, BAS, payroll, budgeting and reports but also, more importantly, be a key value-added business partner to you in making some of the bigger decisions.
So how do you find a true bookkeeping business “partner”? With so many businesses out there offering bookkeeping services, it’s often hard to know where to start in making the right choice.
5 things to look out for in a Sydney bookkeeper
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Appropriate qualification and accreditation
You should speak to any potential bookkeeper about the formal qualifications they have. Ask questions about their level of experience in the industry and number of years in business.
It’s important to understand that not all bookkeepers are also qualified accountants. This may or may not limit your service needs – so always ask!
There could be huge advantages in having a bookkeeper also experienced in tax and accounting matters.
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Knowledge of changing technologies
A lot has changed in the bookkeeping industry with the growing popularity of cloud accounting. Your bookkeeper should be up to date with these changes including cloud accounting packages through MYOB and Xero.
While some bookkeepers may prefer to do things the old fashioned way, this simply isn’t as time or cost efficient as using new technologies. You’ll want someone who can talk you through any advances which may be relevant to your business.
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High level of analysis
What can make a bookkeeper stand out from the rest is their ability to be analytical about the finances of your business. Not only do you need a bookkeeper who can look after the accounts, but you also want them to be able to prepare reports for issues such as key performance indicators and trend analysis.
Having a bookkeeper who is able to assist with the bigger picture budgeting needs of the business can save you both time and money.
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Desire to understand your business
A good bookkeeper will take a lot of time getting to know your business and making sure that all processes are as streamlined and simple as possible.
It’s also important they ask questions, particularly in the early stages, rather than guessing as this can have implications down the track.
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Trustworthiness and professionalism
Your bookkeeper works in a position where they have intimate knowledge of the financial working of the business so it’s vital that you feel comfortable with them.
Having a bookkeeper you trust means you are able to be completely transparent with them so they are aware of the whole financial picture of the business.
Having a great bookkeeper means your finances are being managed effectively which ensures that your business is running smoothly. This leaves you with the time to concentrate on the other important aspects of your business without being bogged down with tedious paperwork.
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