All too often we choose suppliers, services and business partners for fairly arbitrary reasons – the biggest ad in the phone book, a company a friend recommended to you, or the cheapest service. The criteria for excellence in a business partner goes far beyond a single factor, and when you’re choosing someone to take care of your confidential and accurate financial records, it’s even more true! Today, we’re going to look at 8 basic characteristics that any good accounting service should have.
You can commit to your business Accounting is a temporary activity – you need someone who is willing to make your records a priority instead of squeezing you in between their personal obligations. Accounting and Bookkeeping Services in Australia
Business is constantly evolving. While the basics of addition and multiplication remain the same from year to year, accounting tasks and tax laws never change! Look for an accounting service that constantly updates the training of its employees.
Your accountant comes to you. If you have to gather all of your financial records, save them to a USB drive, and bring them to your accounting service’s office, delays are almost inevitable! All good accounting services have mobile staff that will come to you and allow you to keep your sensitive financial information strictly within the confines of your office.
They are well versed in computers. In the past, you had to be able to draw a straight line, do quick math with an adding machine, and know when to use a black, blue, or red pen. Modern accounting is a little different! Your accountant should be very computer literate, internet savvy, and experts in accounting programs.
Knowledge of MYOB and QuickBooks Knowledge of the two main financial accounting programs in Australia means that your accountant will have a different perspective on the accounting process. If your business is still in its infancy, you can learn firsthand which package is better suited for your processes.
Good communication skills Mathematical skills and communication skills are sometimes seen as mutually exclusive. This is an urban legend! A good accounting service is able to clearly explain their processes and any issues and communicate in a timely manner to ensure the best outcome for your business.
Detail-oriented A natural tendency to pay attention to detail is necessary for all good accounting services. A single number where the decimal point is off can make a big difference in the appearance of your books…. so look for companies whose innate sense of perfectionism is clearly evident!
A Sense of the Big Picture A single business activity can have multiple implications for accounting processes – look for an accounting service with extensive experience and/or a comprehensive university education to ensure that no critical aspects of your records are left out.
Experience: Your accountant should always have a good background and understanding of accounting principles, since these two tasks are so closely related in business. A solid understanding will enable your bookkeeper to understand the impact of transactions on the balance sheet, identify and correct potential errors, and also communicate effectively with your bookkeeper.
Your accounting department is as important to the success of your business as your material suppliers, your own work ethic, and your business idea – make sure you have good accounting! Accounting Consulting Firms in Australia
Luckily, there are many bookkeeping solutions out there for progressive business owners – and the majority of them are easier than you’d think to carry out.
So if you want to spend more time communicating with your clients, read on to discover how bookkeeping services could help your business grow.
Firstly, it’s more cost-effective than you might think, and getting on top of your expenditure and income will probably save you thousands in the long run, so it’s definitely worth taking some time over.