Different bookkeepers have different expertise. If you are a small scale business owner, your best bet would be to opt for an outsourcing firm who has already worked with Small business accounting and knows the ins and outs of the bookkeeping required. How do you know this? There are a few questions that you could ask. Some of these questions are:
Past experience and portfolio: The best way to determine if the accounting firm would be a best fit for you would be to check out their portfolio as well as see how many years they have been in business. See if they have worked with clients who are quite similar to you. Also see if they have worked with multiple industries, as well as your industries, so you will get an idea that they would be capable of handling complex range of issues that might crop up. The more experience the outsourcing firm has, the better they are at what they do!
Familiarity to your accounting software: Check out if the outsourcing firm has a licenced version of the software that you are using, do not forget to check the version that they will be using. Talk to them about the different products and versions that they work with. If down the line you want to convert to another software, would they be able to handle that?
Software update schedule: How often do they upgrade their softwares? Softwares release new updates regularly, you would want a firm that stays up to date with their uploads. You could also ask if they take any measures to stay updated on the technology solutions or do they opt for workshops or courses to keep themselves updated.
Affordability: Running a small scale business is tough and the initial investments are quite high. Until the time you reach the break even it could be a pretty rough ride. So, it is quite obvious that even if your Small business bookkeeping partner is the most amazing outsourcing provider in the world, there is a limit to the amount that you can pay. The accounting partner that you choose for your business should be able to provide qualitative services at an affordable price. The last thing that you would want is to spend all your resources in this area when you could be investing in your business and seeing to it that it grows exponentially.
When you ask your outsourcing partner these questions, you would automatically come to know their work ethic. Since you already have started interacting with them, it would give you an idea as to your comfort level of working with them long term. Are they responding properly and on time? Are they addressing all your concerns properly and professionally? Would you be comfortable sharing your business finance with them? Think all these before you choose the right candidate.
At Rayvat Accounting, we make it a point to sit with the client understand their requirement and them create a team and schedule that would be exactly as per the client’s requirements. In this way, we ensure that the partnership between us and our partners are beneficial to both. Contact us for more details.