Signs you have a great bookkeeper

Finding a Bookkeeper is a bit like finding a good Cappuccino – there’s a Cafe selling one on every corner but a great one is still often hard to find. And when you do find that perfect cup, you should never let that Barista go. But how do you know if your bookkeeper is good or even better, a great bookkeeper? Let’s go through what makes a great bookkeeper

1. Training and Accreditation
   Every good bookkeeper should have formal bookkeeping or accounting training and be a registered BAS Agent. A registered BAS agent means that the Tax Practitioners Board are satisfied that the bookkeeper has the skills, qualifications and the experience to correctly account for GST and prepare your BAS according to legislation. Your Bookkeeper should have their BAS agent licence showing on their website. Use this link to check if your bookkeeper is registered. Laguna Bay Bookkeeping are Degree Qualified Accountants as well as Certified Bookkeepers & Registered BAS Agents - which means we can offer a complete and well rounded service. Use this link to see what a Bookkeeper who is also a Degree Qualified Accountant can offer your business!
   
   
2. Experience
   Like most professionals, the hourly rate charged by Bookkeepers will always differ. But judging bookkeepers by price is fraught with danger. If you’re simply comparing hourly rates, a highly experienced bookkeeper might seem more expensive than someone offering to complete the task cheaply (For example via Airtasker or Gumtree). This is not true because most experienced bookkeepers will also work significantly faster and smarter than someone who has less experience - often resulting in a slightly higher hourly rate, but half the invoiced hours.
   
   
3. Great Bookkeepers understand your process & Ask Questions.
   A Good Bookkeeper will take the time to really understand your business and how you operate so that they can make sure that the processes are as simple and efficient as possible and nothing is missed or duplicated. They will be able to see areas that can be streamlined in your small business and help to offer insights and ideas to help see your business grow.
   
   Many business owners find questions time consuming. However, in order to ensure transactions are correctly allocated, it is better that your bookkeeper ask questions rather than guess. This can save time in the long run and most importantly lead to an efficient end of year process of completing the Income Tax Returns by the Tax Agent. With a good bookkeeper on board, the Tax Agent shouldn't ever need to spend lengthy time re-allocating transactions in the file (at a very high hourly rate!)
   
   
4. Great Bookkeepers do their homework 
   A sign of a really great bookkeeper is one who is up to date on what is happening in the bookkeeping, accounting and technology spaces. The bookkeeping and accounting industries have evolved considerably over the past few years due to changing technologies. Your bookkeeper should be explaining to you and encouraging you to use technology to save you time and money by automating any processes with cloud accounting packages such as Xero and any add on services such as Receipt Bank or Debtor Daddy.
   
   A recent survey shows that small business owners save an average of 10 hours a month just by using bank feeds, a service that links your bank account to your accounting software. From experience in using bank feeds, I think that figure is on the low side and in some instances could easily be doubled!
   
   
5. Great bookkeepers are people you can trust.
   Finally, the relationship between a client and a bookkeeper is important. Most people won’t share their financial details with friends or even family, yet this person is privy to all business matters. Make sure your bookkeeper is someone that you trust and feel comfortable being honest with. Your bookkeeper cannot help you get the most out of your accounts if you are not being completely transparent with them.

Laguna Bay Bookkeeping offer a modern approach to Bookkeeping. We are Degree Qualified Accountants and Certified Bookkeepers/ Registered BAS Agents.

The Laguna Bay Bookkeeping Team x

www.lagunabaybookkeeping.com.au  |  hello@lagunabaybookkeeping.com.au