Today, outsourcing has become quite common for businesses. It allows you to hire a professional who has the expertise to carry out a single task effectively. When talking about bookkeeping, your workload prevents you from paying attention to the most important part of your business. However, since keeping track of your financials is a little bit challenging, it’s understandable that you would rather pay attention to multiple tasks than spend your entire time managing the books.
Many online agencies offer bookkeeping services. It’s important to hire someone reliable because they will be dealing with sensitive information, such as customer data and other documentation. Here’s a reliable agency that will help balance your books and train you how to do it in-house through software: geckobookkeeping.com.au/brisbane-bookkeeping.
One of the major reasons you should hire bookkeeping services is that it allows you to secure your data and increase the overall productivity of your business. However, to make sure that your business takes a turn for the positive, there are a few dos and don’ts that you should know about.
Let’s take a look at them:
Do Get Quotes from Multiple Bookkeeping Services
No matter what type of service you are outsourcing, the first thing you need to do is talk to multiple providers. The purpose of outsourcing bookkeeping is to avoid the cost of hiring someone, putting them on the payroll, and training them. In the long run, this will help you avoid hefty costs. Once you have finalised an agency, look into them thoroughly by browsing their website, reading online reviews, and whether they have the right qualifications to perform the task.
Do Ask for Testimonials
An agency that has been working in the same field for years has built a strong following and repeat clients. So, it won’t seem out of the ordinary if you ask for the number of previous clients to get testimonials. This will provide you with the peace of mind that the agency is credible. If there are no satisfied clients, you are looking in the wrong place.
Do Ensure About What Security Measures They Take
Security is one of the biggest concerns when it comes to matters of finance. Before outsourcing a bookkeeper, ask the agency what security measures they take to protect their clients. If you find out any security failures, check the reference first and then ensure that the service providers meet the basic measures. Analyse their encryption method and monitor the data and location provided on their website.
Don’t Focus Solely on the Cost
Just because an agency has a high name and is charging more than its competition does not mean that you should hire them. It’s possible that the provider lacks any technical ability but is great in customer service. On the other hand, the competitor might lack in the latter department but is an expert in the former.
Don’t Outsource to Uncertified Providers
Is the agency you are approaching know the rules and regulations set by ATO? Do they have the certificates and license to practice in the area? Have they worked with Xero? These are just some things you need to know before finalising the agency. Since the outsourced bookkeeper will be handling your business’s invoices, loan and bank statements, and creditors and debtors list, you need to be able to trust the agency that they will do their job well.
Don’t Outsource a Bookkeeper Who Doesn’t Know the Ins and Outs of Your Industry
When outsourcing a bookkeeping agency, you need to ensure they are equipped to handle the responsibility in terms of your financial standing. This issue might not seem big, but imagine this: You are in the hospitality industry, whereas the bookkeeping agency you are about to hire has solely worked for advertising start-ups. They might not understand the nuisance of your industry, which might lead to mistakes.
It always takes time for a new person to understand the workings of the business. If you hire someone to add to your team, you will waste a lot of time and money. As for an outsourced bookkeeper, they will be able to give you results from the get-go.
Some agencies have worked in multiple fields, making them an expert at handling all sorts of projects. Ask for their portfolio before hiring them, and keep these dos and don’ts in mind when you talk to them. Remember: It’s better to be prepared in advance than be sorry later.