| |
| |
|
Small Business Information |
|
|
|
5 Tips for Hiring a GREAT Bookkeeper
Bookkeeping?the "dreaded" word is something we all have to worry about. Business owners rarely go into business to deal with the financial aspects of running a business. It's easy to understand why! Who wants to do all those boring record keeping functions? Not many. Therefore, one of the first things most entrepreneurs do is hire a bookkeeper. Though hiring a friend, relative or anyone who isn't experienced with the basics of bookkeeping may be a recipe for DISASTER! You may have the best of intentions and they probably do to; however, you need to be objective when hiring a bookkeeper if you want a GREAT one! 5 Tips for Hiring a Great Bookkeeper: 1. KNOWLEDGEABLE. Make sure they have a basic understanding of accounting and how the "big" picture all fits together. The difference between an accountant and a bookkeeper is that an accountant will do more analysis and usually has additional training. So, while you may not need an accountant on staff, you do want someone who has a basic understanding of the difference between assets, liabilities, equity, income, cost of goods sold, and expense accounts. 2. AVAILABLE. Ensure that they will be available and dependable to keep your bookkeeping up to date. Your information should be input on a consistent basis so you can get reports in a timely manner. If they are trying to "squeeze" this function into their other responsibilities, they may not give it the focus they should. 3. ACCOUNTABLE. You want a bookkeeper that will keep you accountable. If they have checks or deposits that they are unsure of, you want them to be willing to hold you accountable and get good information for record keeping. You don't want someone who is going to code everything to "miscellaneous." 4. COMPETENT. You want to keep your books on a computer, not by hand. So ensure that your bookkeeper is competent in using a computerized bookkeeping program, like QuickBooks®. You want a full-service package that incorporates your budgeting, estimating, invoicing, job costing, bookkeeping, and reporting aspects all in one. Though it is key that they are competent enough to be able to input good information into the computer system. 5. FAMILIAR. Having a bookkeeper that is familiar with your industry will shorten the learning curve and provide better details. While the basic bookkeeping fundamentals are applicable to all industries, there are very different specifics needed for different industries. Construction companies rely on job costing to understand their profitability. While, retailers are focused on inventory aspects. Restaurant, non-profit, and service-based industries require different insights too. It's important to have some basic accounting knowledge, but ideally you want someone with industry familiarity. 7 Questions to include in your interviewing process: 1. What companies/industries do you have bookkeeping experience in? 2. What computer software programs are you familiar with? Word? Excel? QuickBooks®? Other? 3. How do you continue to improve your skills? 4. How do you trouble shoot when you have a problem? 5. What time management secrets do you use to ensure projects are completed on time? 6. What are the basic financial statements and why are they important? 7. How will they help you be accountable to the details of record keeping? Some feel uneasy about holding their boss "accountable", but that is exactly what you need! Hiring employees should never be taken lightly, especially when they are going to be doing your bookkeeping! Without good financial reports, you have no idea how your business is doing. Garbage In = Garbage Out. Input is critical to having a successful business report that you can utilize in your management decisions. These same requirements should be incorporated if you are hiring an outside firm to do your bookkeeping also. These 5 Tips for Hiring a GREAT Bookkeeper will help you! Contact: Pam Newman is a Certified Management Accountant, Author, and Certified QuickBooks® ProAdvisor for Financial and Point-of-Sale software. For more information, visit her website at http://www.quickbooksinformation.com or call 816.304.4398. Email: pam@rppc.net
MORE RESOURCES:
Small-Business - Google News |
|
|
|
RELATED ARTICLES
The Key to a Successful Business Where would a business be without a business plan? A business plan sets the course for the future of the business. It gives the business owner or manager a sense of direction, listing the objectives and goals of the business from the outset. Finding the PERFECT Alliance Partner Where do you look for the appropriate alliance?One of the most asked question is "Where do you find a good alliance partner?" It is actually fairly easy. You can find potential alliances by taking some time to research potential partners. Three Small Business Secrets to Getting More Billable Time As small business owners we're in business to make money doing what we love. And that means we need enough billable hours to cover our expenses, our payroll, upgrades in skills and technology, and profit. 10 Best Practices to Consider as Your SBIR Negotations Approach Contract Signature 10 Best Practices to consider as your SBIR negotiations approach contract signature:1. Draft your confirmation of negotiations, be sure to memorialize that this is an SBIR type contract along with the applicable data rights and SBIR related terms and conditions. Pressure Washing Aircraft Hangers at the Airport If you are looking for a way to own your own business using a pressure washer or expand your current pressure washing business you might consider cleaning Aircraft Hangers out at the airport. Why Wash Aircraft hangers? For one it can lead to much more work cleaning all sorts of things at airports which is an encapsulated market. How to Bond a Business Relationship When should you create a foundation in order to solidify a business relationship?Before you bond any business relationship, you need to make sure that this is a relationship that you both want to have. No relationship is a one way street; the relationship must work in both directions. Starting An E-Commerce Business: Baby Steps Starting your own e-commerce business can be quite the adventure. There is nothing wrong with falling head over heels in love with your ideas and plans and becoming overly excited, but always remember, feet first. Is a Small Business Web Site a Wise Investment? One of the greatest pitfalls in e-commerce is Field of Dreams thinking, the notion that all one has to do is "build it (a web site) and they will come.""I can't think of anything further from the truth," Ron Scott, a Riverside, California web designer, says. Hispanic Small Business Advantage One thing I have noticed in my travels to different markets is that Hispanic Small Business Owners have a very distinct advantage. They are friendly and very involved in their communities. Nevada Incorporation: The Advantages of Incorporating in Nevada Incorporation in Nevada has become an attractive option for savvy business entrepreneurs, and for good reason. Nevada corporations enjoy many benefits just not available anywhere else. Expanding A Mobile Car Wash Business What is the best time to expand a mobile car wash business? If everything were perfect and you could choose the best time to buy a new mobile car wash rig, you should buy it in April and have it running by the 20th of May. If you have 1. 5 Tips for Hiring a GREAT Bookkeeper Bookkeeping?the "dreaded" word is something we all have to worry about. Business owners rarely go into business to deal with the financial aspects of running a business. Presentations and Sales Automotive Detailers Many auto detailers fall short in their sales presentations. I have often shopped the competition to see what their knowledge base was to gage their worthiness as a formidable competitor in the market place. Small Business Publicity -- Worth It? You bet it's worth it. Publicity via news releases, along with building relationships with reporters and editors is really good for your small business. Is Your Business Making Money? Is your business making money? Would you know?Figuring out whether your business is actually making money is no easy task. Most small business owners have a pretty good idea of what their top line is (their revenues), but unless they're closely tracking and inputting all of their expenses, the bottom line can often come as a complete surprise. Why Small Business Must Turn to PR If small business had no important outside audiences, it wouldn't exist.But since they do have external "publics," it's doubly unfortunate when those same small business owners seem unconcerned about the very outside folks whose behaviors can place a choke-hold on their business!And worse, are so casual about public relations, the best way to move those behaviors in their direction. Consistency with Janitorial and Cleaning Businesses Consistency is a huge word when operating your business. I believe it is one of the key ingredients to success. Covenants Not To Compete: Another Franchise Quandary Imagine that you have operated a successful franchise business for the past several years. Your franchise agreement's term expires in the near future and you are contemplating whether renewing the agreement would be a wise business decision. Keeping a Partnership ALIVE and THRIVING What are the best methods for keeping a good business relationship?Once you have a business relationship in place, you need to work on that relationship to keep it intact. As a matter of fact, people nurture their business relationships more than they do their families! The first and most obvious method is to follow up with questions and requests in a timely manner. 10 Cardinal Rules for Business Growth After over 30 years of participating in hundreds of businesses, competing in at least as many different industries, with companies marketing both products and services, you begin to develop and accumulate some fundamental businesses axioms or "rules of thumb" that seem to make more sense everyday and gain more value in business practice as your career continues to advance and evolve.You like to think what you have learned and the business knowledge you have retained along your long and varied career path is unique, proprietary, or even "original", but somewhere deep inside you know that most of the things you hold near and dear to your own business self identity probably were already developed, practiced, and taught way before you ever entered your first business conference room.
|
|
|
|
|
