small business bookkeeping

What to Look For When Hiring Small Business Bookkeeping Services

Do you feel as if your finances are out of control–and you’re not even sure if your small business is making a profit? It may be time to consider searching for a small business accountant or bookkeeper.

According to the Bureau of Labor Statistics, approximately 20 percent of small businesses fail after their first year. However, you can ensure that you’re not part of this statistic by gaining control of your finances and organization.  

Read on to learn what to look for when it comes to hiring small business bookkeeping services in Charlotte, NC so that you can have peace of mind! 

Small Business Experience

As a small business owner, you’ll find that in most cases, it’s not necessary to find industry-specific bookkeeping services. This is because by and large, bookkeepers and accountants who are experienced with small businesses will be able to give you the service you need.

Finding bookkeepers with small business experience means that they’re used to the common issues small businesses usually face. Here are a few issues that you may be facing: 

  • Cash flow problems
  • Reconciling books
  • Staying on top of payroll
  • Unforeseen expenses
  • Taxes

They’re also used to communicating with business owners who aren’t as knowledgeable about bookkeeping as large companies. They’ll be able to answer your questions and readily walk you through processes and procedures. 

Effective Communication

Bookkeeping for small business requires ample communication and trust, especially because small business owners may be in the first stages of taking their business off the ground. For this reason, it’s important that your bookkeeper is clear about their preferred methods of communication.

You’ll need to have a secure way in order to send the files. There will also be follow-up questions, feedback, and information that they may need to regularly convey to you. In order for things to go as smoothly as possible, make sure that your bookkeeper is clear about how they communicate with their clients. 

Data Protection

According to a report by Hiscox, cyber-attacks cost small businesses on average $200,000. When you’re sending your financial data over to a bookkeeper, you don’t want that data to get into the wrong hands. Anything from your social security number to your customers’ credit card information can become compromised if it’s not secure.

For this reason, the small business bookkeeping service you find needs to provide information on how they protect both your physical and digital data. For instance, do they have locks in the cabinets of their offices? What kind of encryption and network security do they use?

Data breaches are still possible even with the right security measures. You’ll also want to make sure that they have a process in place if this is ever to happen. 

Technical Help 

After doing a “bookkeeping services near me,” search, it’s also recommended to look into bookkeeping that provides virtual services. In this digital age, most bookkeepers are aware that cloud technology is an easy way to store your files securely online while having instant access to them. With remote access to your files at any time, you’ll be able to see what your bookkeeper is working on in real-time.

If you’re searching for a “Quickbooks bookkeeper near me,” you may be needing more help setting up your account. Regardless of whether you use Quickbooks, Wave, Xero, or another software, find a bookkeeper that’s able to put the time into setting up your accounts and creating invoice templates.

Transparent Pricing

You’ll find that bookkeepers either charge a flat fee depending on the service you need or an hourly rate. Each of these options can be good for you depending on your situation. For instance, flat fees enable small businesses to budget for the month ahead of time.

On the other hand, if you need more help setting up bookkeeping software or your bookkeeper is providing more one-on-one services, they may charge an hourly fee. Although hourly rates can be harder to estimate, most bookkeepers will be able to give you an approximation of how long each service will take.

Either way, find a bookkeeper that provides an accurate estimate of their service costs without any hidden fees.

Flexible Services

Last but not least, it’s important that you consider all the services that you need now as well as the ones you need in the future. If you’re starting out as a sole proprietor, you may only need someone to help you once a year with taxes. However, in the future, you may want to begin hiring employees, and for that, you’ll need to handle payroll.

For this reason, find a bookkeeper that offers scalable solutions that grow with your company. This means you won’t have to find multiple service providers if your business starts to grow. 

Small Business Bookkeeping: Your Key to Success

As you search for small business bookkeeping services, keep in mind that you don’t want to go with the first search engine result you receive under “bookkeeping near me.” Instead, take the time to consider the reviews, qualifications, and professionalism of several companies before you make the jump.

Regardless of whether you’re conducting a “bookkeeper near me” or “accountant near me” search, find professionals that are able to keep your files secure and in the cloud. That way, you’ll have access to them 24/7 as well as an easy and quick way to exchange information. 

If you need help increasing your cash flow and getting your books organized, you need the help of BlueFire Accounting in Charlotte, NC. They offer cutting-edge, affordable solutions that grow with your business. Connect today for a free consultation

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