When hiring potential Edmonton bookkeeping services for their business, business owners can make a mistake by trying to save money by hiring the most inexpensive bookkeeper they can find. Business owners should instead, look to hire the best bookkeeper they can find because great bookkeepers can help business owners avoid problems in their business, and help them become more successful. Business owners should consider this quote from author Jim Collins that says, “those who build great companies understand that the ultimate throttle on growth for any company is not markets, or technology, or competition, or products. It is one thing above all others: the ability to get and keep enough of the right people.” Business owners should consider that bookkeepers are great assets to businesses, that can help entrepreneurs have the right professional help they need in order to grow their business.
By interviewing Edmonton bookkeeping services when hiring a bookkeeper for their business, business owners can find the best bookkeeper for their own business, one that will be communicative, and help business owners make great financial decisions in their business. One of the first things that business owners should consider when interviewing a bookkeeper for their business, is to ask how they bill their clients. While most Edmonton bookkeeping services build an hourly rate, business owners should be very aware of how this type of billing can negatively impact the cash flow of their business. Especially if an entrepreneur is trying to save money by hiring an inexpensive bookkeeper, the slower a bookkeeper goes, the higher their fee is going to be, no matter what they charge on an hourly basis. Also, that hourly rate means that an entrepreneur has no idea what their monthly bookkeeping fee is going to be, and that is very hard to plan. Bookkeeping companies such as always bookkeeping charge a flat monthly fee. This is extremely beneficial for business owners because it is not only easy to budget for, it is easy to plan cash flow around into, and business owners can count on that.
The next thing that entrepreneurs should consider when interviewing Edmonton bookkeeping services is how much experience they have, and if that experience has been in a public accounting office. Since the bookkeeping industry is not regulated, and there are no qualifications required in order for bookkeepers to call themselves bookkeepers. If entrepreneurs ask how much experience they have, they will be able to determine if that is the right business professional to work with. The benefit of having public accounting office experience is that bookkeepers will have a deeper level of understanding about what information a business owner needs and how often, as well as what an accountant will require from the bookkeeper in order to do their job best.
By interviewing potential Edmonton bookkeeping services, entrepreneurs can gain a deeper understanding of how knowledgeable that bookkeeper is, and whether they are going to be able to work well with the business owner in order to help them make the best financial decisions that the entrepreneur can in their business, to help them succeed and grow.
When entrepreneurs are considering which Edmonton bookkeeping services they should hire in their business, entrepreneurs should realize that one of the best ways to find a great bookkeeper for their business, is to interview them to find out which bookkeeper will be the best fit for them. Business owners often try to save money on bookkeeping services by hiring the least expensive bookkeeper they can find, which may not always lead to the most skilled professionals helping their business. Here are some things that business owners should consider when hiring bookkeepers for their business.
Business owners should consider interviewing potential Edmonton bookkeeping services that they are looking at hiring, in order to find out how knowledgeable they are. Since the industry is not regulated, especially compared to accountants, anyone is able to call themselves a bookkeeper and advertise their services, even if they have little to no experience at all. Therefore, an interview is extremely important for entrepreneurs to utilize in order to ensure that the bookkeeper that they are hiring for their business is the right one for them. One thing that entrepreneurs can keep in mind when hiring, is that students who are going to school to get their chartered professional accountants designation, often have to work in the industry as part of their degree, and because of that, and it working as bookkeepers while going to school. This can be extremely beneficial for business owners to have because students who are getting their accounting degrees will have a very deep knowledge of what information a business owner is going to require from their bookkeeper. They will have a great base of knowledge on what a balance sheet is, what an income statement is, as well as know what questions that they need to ask their clients in order to get the right information they need to do their job. They’re also very aware of the situations entrepreneurs face on a daily basis and are overall well prepared to work preparing these interim financial statements for entrepreneurs.
Another question that business owners should be asking potential Edmonton bookkeeping services when they are interviewing them, is how often the bookkeeper will be contacting the entrepreneur. Although there is no absolutely correct answer to this question, this is owners should generally understand that the more communicative a bookkeeper is with them, the better informational have. For example, the bookkeeping company always sends out biweekly interim financial statements to their business owners. In addition to that, they make a quick five minute phone call to each of the clients to discuss those reports. This is a great touchpoint to ensure that the business owner has no questions, and any errors that either the bookkeeper or the business owner sees can get fixed immediately. This ensures that not only does a business owner have the balance sheet and income statement they need on an extremely regular basis in order to make their decisions, but that any errors are fixed immediately so that those reports are as accurate as possible.