Countless firms offer outsourced bookkeeping services. However, you need to find a provider with the right set of skills and experience to ensure the best possible results for your business.
In this guide, we’ll discuss the top things to look for when hiring an outsourced bookkeeper, helping you find the firm that’s right for your business’s needs.
Outsourced bookkeeping is a service done by a third party who manages your business’s books and keeps your financial records up-to-date.
Outsourced bookkeeping services are offered by an individual or firm you hire on a contract basis. Rather than bringing on a full-time bookkeeper in-house, you can hire an outsourced bookkeeper to handle similar tasks on a part-time basis.
The responsibilities of outsourced bookkeepers can vary depending on their specific area of expertise and your business’s needs. Here is a breakdown of the common types of tasks these providers can handle:
Each business has its own needs and preferences for hiring an outsourced bookkeeping firm. For instance, whether you want someone based locally or remotely, onshore or offshore, or in a specific time zone is a personal decision.
However, certain features and characteristics should be universal for all companies looking for an outsourced bookkeeper. Below, we’ll walk through the six most important features to look for in a potential provider. Use this criteria as a checklist when evaluating outsourced bookkeepers for your business.
Bookkeepers don't necessarily need a specific license or certification to offer their services professionally. However, you may want to put preference towards bookkeepers with a successful background in the industry who have served business clients for a number of years.
It can also be extremely helpful to work with a provider that has relevant experience in your industry. Industries like Software-as-a-Service (SaaS), fashion, and e-commerce each have unique financial needs and challenges. So, it’s best to find an outsourced bookkeeper who is experienced in your field so they can provide you with expert guidance and support.
Similarly, look for a provider with a good reputation in the industry. While this can be harder to discern depending on where the provider is located, ask if they can connect you with past or current clients who can give you a testimonial. Plus, certain providers may have online reviews written about them.
Evaluating the provider’s reputation before hiring them can help you decide between two or more firms. Positive reviews and testimonials can give you the confidence that they’re qualified and attentive. On the other hand, negative reviews could signify that you’re better off choosing another provider.
Price shouldn’t be the only consideration for hiring an outsourced bookkeeper. However, it’s likely an important factor for many businesses. You should hire a firm that offers good value for what you’re paying, making it a worthwhile use of your funds.
Keep in mind that looking for the cheapest outsourced bookkeeping firm may not provide your firm with the best results. Firms that charge higher may do so because they have more experience and knowledge and offer more services than those with lower prices.
It goes without saying, but you should hire an outsourced bookkeeper that offers the specific services you need. Before signing any agreements or contracts, inquire about their packages or offerings. Even if you don’t require specific services at the moment, it can be useful to see what other services they offer that you may need as your business scales.
For example, you may currently only need someone who can manage your chart of accounts and process incoming invoices. However, you may eventually want a firm that offers fractional CFO services to support you in more strategic and complex financial matters.
In the modern business landscape, you want to find an outsourced bookkeeper who has adopted technology and software into their workflows. This is important because these tools are often designed to help bookkeepers work more efficiently and accurately, ensuring better results for your business.
Bookkeepers don’t need to implement the most advanced or expensive technology and tools just for the sake of it. But, using dedicated software solutions shows they are forward-thinking and able to meet the needs of your modern business.
In addition, outsourced bookkeepers are likely not based in your same area. So, managing your books in a cloud-based platform makes it easier to share data, reports, and statements with one another without interruption.
In any business relationship, communication is key. The same goes for an outsourced bookkeeper. The firm you hire should be responsive, accessible, and eager to answer any questions you may have about your books.
Business finances can be a stressful topic on its own, though working with a bookkeeper who communicates clearly and effectively can help mitigate some of this unease.
Given the nature of bookkeeping services and the importance of maintaining accurate financial records, you should be able to contact your bookkeeper with any concerns and receive a quick response or resolution.
While it’s unreasonable to expect your bookkeeper to be available 24/7, make sure they’re available during normal business hours or another block of time that you’ve agreed upon.
Hiring an outsourced bookkeeper is an important decision, and there are many factors to consider to ensure you find the right provider.
If you want to know where to find a firm that ticks all of these boxes, look no further than Bob’s Bookkeepers. Our team is comprised of experts who have experience supporting businesses across all industries. Each of our clients is paired with a dedicated account manager, ensuring you receive the support you need, when you need it.
Contact us today to speak with one of our expert providers.
