Having a reliable and qualified bookkeeper is essential for effectively managing a business. Everyday Develop Wisconsin works to support over 6,000 business-owners as they work to grow their businesses. What we have learned is this: Many small businesses do not use a bookkeeper or an accountant to manage their books; and for the businesses that do use bookkeepers, too many businesses do not know how to fully utilize the knowledge and expertise of a bookkeeper.

To get the most out of your bookkeeper, we asked several bookkeepers in our Business Network what should a business do to maximize the services and knowledge of a bookkeeper. Following is some of their feedback:

  • “Build a trusting relationship with your bookkeeper.” The better you know your bookkeeper and the more trust you “Trust your bookkeeper.”  Your bookkeeper will see and have access to the most important part of your business – your financial information. So, it is critical that you establish and maintain a trusting relationship with your bookkeeper to effectively maintain.
  • “Choose the right bookkeeper.” When choosing a bookkeeper, it is important to consider their experience, qualifications, and personality. You should also make sure that they are familiar with the specific needs of your business.
  • “Provide your bookkeeper with clear expectations and concise instructions.” When you first start working with your bookkeeper, it is important to provide them with clear and concise instructions on how you want your books to be kept. This will help to avoid any confusion or misunderstandings down the road.
  • “Give your bookkeeper full access to your financial records.” Your bookkeeper will need access to your financial records in order to do their job effectively. You can either provide them with copies of your records or give them access to your online accounting software.
  • “Be timely in providing your bookkeeper with information.” The timelier you are in providing your bookkeeper with information, the more accurate and up to date your financial records will be. There is little more frustrating for a bookkeeper than to have to wait long periods of time or wait until the last minute for financial or transaction information, and this is particularly true in regard to preparing tax returns.
  • “Review your financial reports regularly.” It is important to review your financial reports on a regular basis to make sure that they are accurate and that you understand them. This will help you to identify any potential problems early on and take corrective action. You may want to consider having weekly or monthly meetings with your bookkeeper to review financial reports.
  • “Communicate with your bookkeeper.”  If you have any questions or want to provide feedback about your finances or your bookkeeping system, do not hesitate to communicate with your bookkeeper. They are there to help you understand your finances and make better business decisions.

By following these tips, you can ensure that you are getting the most out of your bookkeeper and that your finances are in good hands.

If your business needs a bookkeeper or an accountant, contact Develop Wisconsin today!  Every year we connect hundreds of businesses to qualified, reliable and trustworthy accountants in Wisconsin.

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