5 Things Business Owners Look for in a Bookkeeping Company
January 9, 2023 | Written by: Sohail Afzal
Are you a business owner looking for an efficient bookkeeping company that can save you time and money? Hiring the right bookkeeper is essential for any business, small or large. Finding one who strikes the perfect balance between providing knowledgeable advice and taking care of your everyday financial operations is crucial. But with so many companies, it can take a lot of work to know what qualities to look for in the ideal bookkeeping partner. To help make your search easier, we’ve rounded up five critical criteria all entrepreneurs should consider when selecting a bookkeeper or accounting firm. Keep reading to learn more!
1- Affordable Rates
Regarding bookkeeping services, business owners must choose a company that offers the highest quality and fits within their budget. This is why one of the major things they look for in a potential bookkeeping company is affordable rates.
A capable bookkeeper that charges significantly lower rates than other companies are ideal because it allows businesses to maximize their budget without sacrificing the level of service they receive.
Furthermore, many businesses require different services associated with bookkeeping, such as consultations, advice and support. It’s essential to consider how much these extra services might cost before deciding. With proper research, business owners can find reliable and affordable bookkeeping services in Toronto that are perfect for them.
2- Accuracy and Attention to Detail
As a business owner, accuracy and attention to detail in your business’s bookkeeping are essential. Errors can be costly and difficult to track down when not addressed immediately. When selecting a bookkeeping company, you want to ensure that they understand and prioritize accuracy and attention to detail, even amid the chaos of multiple accounts and transactions.
A reliable bookkeeping company will always ensure that all figures are correct, with particular attention paid to minutiae, making it more likely that discrepancies can be quickly identified and addressed with minimal financial damage.
With accurate data, an experienced bookkeeping service can also provide valuable insights into improving finances overall for a business. When handling bookkeeping, accuracy and attention to detail are something one should look for when partnering with a company.
3- Quick Turnaround Time on Bookkeeping Services
Business owners need timely and accurate bookkeeping services if they want to maintain the health of their businesses. Unfortunately, many bookkeeping companies need help to provide quick turnaround times for bookkeeping services. Business owners should look for a reliable bookkeeper who can quickly turn around their requests and provide economic clarity, from creating budgets to analyzing payments.
Doing so gives business owners peace of mind regarding financial paperwork and allows them to make crucial decisions faster than if they had to wait months for vital information. Finding the right accounting firm in Toronto with fast turnaround times is essential for successful businesses today.
4- Friendly Customer Service
Business owners need a bookkeeping company that can provide more than number-crunching services. They want a reliable partner that has friendly customer service people in their corner. When it comes to business and money, having friendly customer service reps to speak to can take the pressure off.
Look for a bookkeeping company with representatives who offer helpful insight, understand the complexities of the corporate world, and, most of all–take the time to listen. After all, no one wants to spend hours on the phone with someone who doesn’t quite understand their situation. Business owners enjoy peace of mind knowing that their bookkeeping company is approachable, experienced, and offers friendly service every time.
5- Knowledgeable and Experienced Bookkeepers
As the saying goes, knowledge is power. Regarding bookkeeping for a business, there is no substitute for experience and knowledge. Business owners want to find a bookkeeping company that understands their business industry’s unique needs, whether in retail, hospitality, or manufacturing.
Experienced bookkeepers should understand local taxes and payroll regulations so businesses can avoid costly mistakes. Companies that have worked in the same industry as the business owner also understand their specific accounting requirements, so it’s important when searching for a bookkeeping company to look for one with experienced and knowledgeable staff who have seen firsthand how other similar businesses operate financially.
A business owner must find a bookkeeping company that they can trust. This list of things to look for in a bookkeeping company should help set your mind at ease when choosing the best possible option for your business needs. Please contact us if you have any questions or want more information. We would be happy to discuss our services with you and answer any questions you may have.
Sohail Afzal, CPA, CMA, MBA
Sohail Afzal, (CPA, CMA, MBA) is the founder & CEO of GTA Accounting Professional Corporation. He is a highly experienced Chartered Professional Accountant and businessman himself and understands the challenges that many businesses face when it comes to cash flow management. As an experienced business consultant & tax advisor, he is helping companies grow by providing the technical, financial, and contractual information necessary for strategic decision-making.