There are different signs of knowing that you have indeed chosen the right bookkeeper for your business. Or that you have chosen the right accounting firms from where you have sought to acquire accounting and bookkeeping services from. They may be always on time and never miss a day at work. They may be really persuasive and good at helping in arranging and collecting payments that the cash flow is just perfect.
You can have your own standards of knowing but you can also read on to find out what they are like when they are indeed a perfect match for your company and you have found the perfect accounting and bookkeeping services.
Why is Bookkeeping Important for Businesses?
Before we go into details, let us first find out why bookkeeping is such an essential ingredient in running a business. There are a lot of reasons why, but we will cut them down to simply point out the most important factors that make bookkeeping one of the backbones of every company.
Bookkeeping gives you the information that you need when it comes to the standing of your company financially and how well (or bad) it is doing. The strengths and weaknesses of your company can be seen here, which then can help you to analyze your company’s growth. With bookkeeping, you can find out if your strategies are working or if you should start making new ones.
Bookkeeping helps you have clean records. Investors and lenders would mostly require seeing well-kept records of your financial statements. You can be confident in seeking buyers and funding when you have accurate records in your hands.
These are just some of the reasons why accounting and bookkeeping services are being offered because of its role in running a company.
The Role of a Bookkeeper
It is not widely known what the role of a bookkeeper is. But truth be told, a good bookkeeper may be the reason why a business is successful or not.
A bookkeeper is not just anyone you can find who knows how to handle numbers. You wouldn’t want the job to go to anyone who has little to no knowledge when it comes to taking care of financial statements and other tasks.
Bookkeepers need to handle your company’s financial side. Thus, they must be knowledgeable, to say the least.
Signs that You Have Picked the Right Bookkeeper
It pays a lot when a person is organized. It is a very admirable thing when your bookkeeper knows where the certain documents are located and where this and that are kept. Being organized also means that they know how and when to follow up unpaid invoices, when to deposit payments to the bank, proper documentation of new vendors, updated financial statements, etc.
When asked to retrieve a document that contains the financial history of your company, an organized bookkeeper knows just where to look without scrambling around with papers all over his desk. Besides that, the document itself is all understandable with the support of a number of receipts.
This can be seen as normally one of the qualities of a bookkeeper, but more often than not, not everyone will be able to do this when told to do so. Because the job of a bookkeeper is not easy, it will take a really organized person with the heart in doing what he does to be able to pull this off.
2. Little to No Mistakes
It is essential that mistakes are not simply avoided but be non-existent when it comes to bookkeeping. Of course, it is impossible since mistakes are existential, giving at least a chance for bookkeepers to commit mistakes. However, making the same mistakes over and over again should not be one of the qualities of a bookkeeper.
With value-added tax (VAT) already being implemented in the United Arab Emirates (UAE), we are even more in the state that accurate bookkeeping should be done. It should be given importance to more than ever. Everything that should be accounted for should be indeed accounted for since it can cost the company a penalty that is not going to help the run of a business at all.
3. They Know Why Bookkeeping is Important
It is a good thing to have a bookkeeper who does their job, but it’s another thing to find a bookkeeper who knows why bookkeeping is important thus does it diligently. You can find a lot of people who know how to perform but it’s quite rare to find someone who values their job and knows its importance. When you find that your bookkeeper has a heart in working every day because he doesn’t only care about his job but the whole company, you have found a good bookkeeper whom you should keep.
Farhat Office & Co. has been one of the leading accounting firms in the industry for more than 30 years. We have been serving with quality accounting and bookkeeping services to various organizations. Please contact us for a consultation.