7 Key Features Your Small Business Bookkeeper Should Have

Your bookkeeper ought to....

1. Have a great level of understanding of accounting. They ought to be very familiar with the most important financial statements as well as the key parts (revenue, expenses, assets, liabilities, owner's equity & more) that contribute to each statement. They ought to understand how each statement relates to another and how they can be used to grow your business.

2. Have extensive knowledge of the Usually Accept Accounting Principles (GAAP). These are standards and procedures used to record and document accounting information. They are used to form your company's financial statements.

3. Be very detail oriented and understand job costing. Your bookkeeper ought to know what is going on with you financial information down to the penny. They ought to be able to discover issues and create ways to improve your recordkeeping system. Your bookkeeper ought to be able to keep track of your expenses incurred for a specific job against the revenue received from that job.

4. Always seek further schooling and training. It doesn't matter the level of schooling your bookkeeper or accountant currently has. They ought to always stay up to date with the latest changes in the accounting and
business world. The more knowledge they have, the more they can use it to grow your business.

5. Have open lines of communication. They ought to be able to communicate with you if it is something they do not understand, need assistance with or clarification on. There ought to be regular every month, quarterly and yearly meetings, by phone, individual to individual, or web. They ought to also follow-up with you within 48 hours of you contacting them.

6. Think in your success and have BIG PICTURE THINKING about your business. Your bookkeeper ought to help you create and maintain goals that will propel your business to reach great success. Your business ought to be their top priority not their part-time hobby.

Knowledge is Power! & there is power in having correct, timely, financial statements. It lets you make wise decisions regarding the growth of your business. It helps you decide what areas require improving, discover errors within you system, uncover hidden charges & costs as well as a lot more.

7. Have knowledge of their accounting system. As all of us know expertise changes every day. Your bookkeeper ought to stay up to date with the changes in their accounting system. They ought to be able to implement new features, reports etc. to grow your business.

It is important that you pick a bookkeeper that will grow together with your business; somebody that takes pride in the success of their clients. Having an excellent bookkeeper on your business team gives you the power to accomplish great success.

After all that is what you started your business to accomplish, correct?