If you are a small business owner, then the importance of avoiding financial mistakes is your topmost priority for you. Ultimately it will reflect and impact your finances. A bookkeeper is invaluable to a business because a financial executive performs the fundamental task of preventing the occurrence of any financial errors in business. A 2019 report showed that approximately 64.4% of small businesses use invoice automation software. So, hiring a skilled financial executive is essential even if you’re using invoice automation software for your business’s Accounts Payable (AP) functions.
Before delving into the tips, here are some critical costs associated with hiring an accounts assistant that you should keep in mind:
Here are some of the critical functions performed by accounts assistant:
Keep the following tips in mind while hiring a qualified financial executive for your small business:
The first thing you have to keep in mind when you’re hiring a financial executive is that the individual must be a good fit for your small business. The accounts assistant you’re considering must have a comprehensive understanding of your industry and the unique financial needs of your small business.
Inquiring about the candidate’s experience in bookkeeping and their credentials is essential. Don’t forget to request professional references to verify the authenticity of their real-world bookkeeping experience. There are two key bookkeeper certifications for you to keep in mind:
It’s essential to check an accounts assistant’s credibility through various means because this individual will have complete access to all business financial records. Therefore, the potential risk of financial fraud is very high.
The good news is that when you’re hiring a bookkeeper for your small business, you don’t have to restrict yourself to only local personnel. It’s entirely possible to hire an accounts assistant remotely and collaborate online. However, the only thing you must consider is that the financial executive must be very well-versed with the local business regulations, guidelines, and laws.
Taxes may have a compounding impact on your small business’s income. So, decreasing your business’s tax burden is extremely important. There are tax laws that you should consider and follow for this. Therefore, it’s vital to hire a very well-acquainted account assistant with tax law changes.
It’s essential to ensure that the financial executive you have considered for the position is on the same page regarding the accounting software to be used. It’s necessary to provide full access to all financial information. It would be good if the accounts assistant is aware of financial software as most modern AP and invoicing software has features like automatic downloading of invoices from portals which help save the financial executive’s time and effort. Otherwise, ensure he gets good training on the software application so productivity improves.
Implement these tips mentioned above when hiring a skilled bookkeeper for your business!
See the benefits of automated invoice management:
Better overview. Less accounting work. More time for your ideas.