When most people think about bookkeeping, images of stacked receipts, paper bank statements, and hours of data entry come to mind. However, with today’s technology and automatic bank feeds, bookkeepers are capable of doing so much more for your business. But not all bookkeepers are created equal. Hiring the right bookkeeper for your business can have a significant impact on your overall success. Hiring the wrong bookkeeper can hinder your operations and negatively affect your cash flow.
Not Your Grandfather’s Bookkeeper
According to Melissa J. Laverty, EA, Quickbooks Advanced Pro Advisor, and founding partner of Tax Services of Londonderry NH, advances in technology and bank automation have significantly changed the role of a bookkeeper. In the past, bookkeepers spent hours manually entering receipts and reconciling bank statements at the end of the month. By the time this information was processed and reported back to the business, it could be a few months old.
Now that businesses are accustomed to having real-time information, traditional bookkeeping has gone by the wayside and business consulting is where it’s at.
Bookkeepers as Business Consultants
To help your business succeed, a good bookkeeper will start by examining your processes (e.g. creating payroll, paying invoices, processing receipts, etc.) and help you establish efficient, easy-to-use systems that:
- maximize technology to save time and money
- provide up-to-date, easy to understand reports needed for key decision making
- improve overall cash flow by streamlining payment processes
Laverty recalls how she helped one of her clients, an electrician, with his bookkeeping:
“When you’re a new business that’s just getting started, cash flow is critical. We helped this client set up his Quickbooks, and developed clean, streamlined processes. We established a new quoting process in which he received a project deposit in his bank account within 24 hours of the accepted quote,” she notes. “This caliber of bookkeeping professional does more than simply balance your checkbook,” she adds.
What to Look for When Hiring the Right Bookkeeper for Your Business
Make sure your bookkeeper has knowledge and experience in:
- accounting industry principles, standards, and guidelines
- accounting software like Quickbooks
- using accounting software add-on tools to reduce manual data entry and enhance productivity
- providing ongoing technical training and support to clients
- translating analytical reports into easy-to-understand terms
- examining accounting and business processes and making recommendations for improvement
Hiring the Right Bookkeeper for Your Business in Southern NH
Let’s face it: if you’re going to be a successful business owner, you can’t do everything yourself. Let the experienced bookkeeping professionals at Tax Services of Londonderry, NH help you set up streamlined record-keeping systems required to make key business planning decisions and guide you toward your goals. Contact us today to learn more about how hiring the right bookkeeper can make all the difference for your business.