Thursday, January 24, 2019

Things to Look For in a Bookkeeping Service


A business owner has a multitude of duties in running their company. If it is a small business, chances are that the owner is doing a bit of just about everything including hiring, firing, tending to customers, stocking inventory and handling the financial books.

A larger company may have someone on staff that tends to the ledgers but employee turnover can lead to constant headaches and retraining. If this important chore is turned over to a service which specializes in just this, it can certainly streamline the workings of a company.

Things to look for when you're thinking of outsourcing your accounting include:

- Reputation: How long has this bookkeeping service been in business? How many clients do they serve and for how long? Can they give references? Getting a word of mouth referral from another business that is similar to yours is quite helpful.

- Experience: Do they have experience working with companies such as yours? Small or large, dry cleaners or telecoms, each type of business requires specific knowledge.

- Credentials of their staff: Who exactly will be working on this highly sensitive part of your company? What is their training? Has their background been checked out to assure their trustworthiness? Is a certified accountant overseeing the work?

- Cost and services included: There is a smorgasbord of services that may be offered, including payroll, state, and federal tax preparation and payments, property taxes. What, specifically, is offered in each accounting package? How much can be accomplished online?

- Are they familiar with the tax laws in your state? Each state has a different set of tax laws. Make sure that the company you select is familiar with the rules and regulations in your particular state.

- Will they represent you in case of an audit? In case of a tax auditing of your business, will they prepare the paperwork and documents that you will need? Are they knowledgeable enough to back you up if necessary?

- Turnaround time: How long will it take to get paychecks to your employees or your company's taxes properly filed?

- User-Friendly: Are they available when you have questions? Do they have adequate staff to help you when you need them? Are they able to explain their practices and procedures in a satisfactory manner? Do they seem like an easy fit and a company you'll feel comfortable doing business with? Along with everything else, compatibility is an important component of a successful business relationship.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

Article Source: http://EzineArticles.com/2835814

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