In order to provide a complete set of services to their clients, accountants will often work with external bookkeepers. To make the most of this relationship, it’s important that you, as an accountant, choose the right bookkeeping partner. So, how do you know the bookkeeper you deal with is going to be an asset to your business and not become a liability? Here are some tips to help.
- Have you conducted an ABN search?
An ABN search will give you vital information about the bookkeeper such as how long they’ve been in business and whether they are a sole trader or are set up as a company or trust. This information will inform you as to whether the bookkeeper is serious about their business or it’s just a side-line outside their regular job.
- Do they have staff?
If they are a sole trader, what happens if they become ill? Or want to go on holidays? Having the support of a team of staff means that you and/or your clients will always have someone available should there be a query.
- Who do they know?
You’re going to need the services of other professionals at some stage so it’s important your bookkeeper has relationships with lawyers, insurance brokers and finance professionals, among others. These can not only help your clients, they may be a good source of new referrals to your business.
- Do they have good knowledge of business software?
Bookkeepers need to know about more than just the latest accounting software. It’s important they can also help your clients with inventory and supplier management, automating debt collection, rostering and timesheets, and more. If your prospective bookkeeping partner isn’t up-to-date with the latest accounting software add-ons, it might be best to look elsewhere.
- Are they cloud-based?
The days of desktop software are over and your bookkeeping partner needs to be up-to-date with the latest cloud-based accounting software such as Xero, Quickbooks Online and MYOB. Cloud-based software makes it easier to seamlessly connect your team with your clients and the bookkeeper. The streamlined integration means that you can access data in real-time and from any location.
- Are they building their business?
The bookkeeper you choose to partner with needs to be more than just a ‘number cruncher’ – they need to be actively promoting and growing their business. Do they have a professional website and online presence? Do they attend networking functions on a regular basis? If a bookkeeper has been successful in growing their own business, they’ll be able to provide practical advice for helping your clients as well.
- Do they charge fixed fees?
You want to be sure you are making a profit by providing the bookkeeping services and the easiest way to do this is if your bookkeeper charges a fixed fee. They should know the amount of work involved in completing a relevant task and so should have a good idea of how much to charge for the service.
At the end of the day, the bookkeeper you choose to work with should be a trusted professional who has the best interests of both you and your clients at heart. The work they carry out on your behalf will represent your business so you need to make sure you choose the right bookkeeping partner from the start.
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