In this blog I’m taking on a topic that could be construed as being just a little bit self-serving. Nevertheless it could help other bookkeepers out there dealing with the same challenges as us here at Fiscal Performance. Businesses including owners and managers also benefit from this. The upside is that the solutions are not difficult and just require a bit of understanding and effort.
All of what follows should apply whether you do your own books, have staff to do them for you, or contract out your bookkeeping to companies such as us here at Fiscal Performance. Don’t forget that every company is required by law to have an accurate and up to date set of books as well as to pay any and all necessary taxes in a timely fashion.
Bookkeeping as a career can be highly gratifying but there can be moments when it can be somewhat frustrating. The reasons for it are not always intentional – they just happen. First my disclaimer: almost all of our clients have been very, very receptive to our input as to what would make the process of bookkeeping easier for us and therefore more beneficial for them. After all, the common goal is to provide an accurate, timely and comprehensive set of books. Thanks to all of you and bless you for your continued consideration. One additional comment in this regard, the faster and more efficient we can be, the more economical for our clients. It’s all about time, effort and efficiency.
Consider that the books need to stand up to scrutiny by owners, investors, banks, accountants and various government taxation agencies. Focused input often needs to be provided by many parties over and above the bookkeepers to maintain the books. Most often it involves getting all the necessary information and paperwork to the bookkeeper or the bookkeeping department in a complete and timely fashion.
So, what can be done to make the life of your bookkeeper a little bit easier? Consider these few things as part of the process:
- Submit necessary information on time – every time. When dealing with deadlines for things like payroll, taxes, payables & receivables, etc., delays in getting information to the bookkeeper could result in missed deadlines meaning potential penalties and interest. Invariably the processing of information and payments also requires a certain amount of time by the bookkeeper making last minute submissions uncalled for and possibly unfair.
- Make sure information including paperwork is complete and legible. This can often be a challenge when requiring staff to comply – especially “road warriors”. This kind of information can include reports, receipts and any documents or information that have to do with the finances of the business. Although the information is critical for the bookkeeper to do his or her job, it is often considered a nuisance and a distraction to the people providing it. It cannot be allowed to become a low or non-existent priority.
- Be prepared to provide explanations and clarification when requested. Most of the work taken care of and provided by bookkeepers is fairly standard and self-explanatory. There can and will no doubt be instances where this is not the case. Considering that a misinterpretation or bad guess could result in inaccurate books, it is in everyone’s best interest that this be avoided.
At the end of the day, the collaboration between the various parties in the business and the bookkeeper will result in a comprehensive handling of the accounting function. As an added bonus, the statements and reports provided by the bookkeeper can be used to analyse and ultimately grow the business.
We are always happy to collaborate with our clients in an effort to make the accounting process as efficient and seamless as possible. We’re ready when you are.
Until next time, stay well.