Choosing the right bookkeeper for your small business is one of the most important decisions you will make as a business owner. Your bookkeeper will be responsible for maintaining accurate financial records, providing insights into your company’s financial health, and ensuring compliance with financial regulations. A poor bookkeeper can create a financial mess. A good bookkeeper can be a trusted partner who contributes significantly to your business’s success.
NorthStar Bookkeeping understands that entrusting your finances to someone else requires a great deal of trust. We have built our reputation on being a trustworthy and reliable partner for businesses across America.
- What experience do you have with businesses like mine?
When choosing a bookkeeper, it’s crucial to inquire about their experience with businesses similar to yours. Different industries have unique accounting needs and regulations. For instance, a construction company’s bookkeeping needs will differ significantly from those of a law firm or a property management company.
NorthStar Bookkeeping works with many niche and technical businesses and has seen it all when it comes to bookkeeping and back-end management. We provide solutions through the software you are already using to develop a sustainable and streamlined plan for the future.
Here are some examples of why industry-specific experience matters:
- Construction: Construction accounting involves specific considerations like job costing, percentage completion, and managing complex project budgets. A bookkeeper with experience in construction accounting will be familiar with these nuances and can provide accurate financial reporting and analysis.
- Law Firms: Law firms often deal with client trust accounts, which have strict regulations. Experience with law firm accounting ensures that these funds are handled correctly and ethically.
- Property Management: Property management involves tracking income and expenses for multiple properties, managing tenant security deposits, and providing detailed financial reports to property owners. A bookkeeper with property management experience will understand these requirements and can provide efficient and accurate bookkeeping services.
“It’s important to find a bookkeeper who understands the intricacies of your specific industry,” says Paul Yee, co-owner of NorthStar Bookkeeping. “This ensures they can provide relevant and accurate financial guidance.”
In addition to industry-specific experience, consider the size and complexity of your business. A bookkeeper who has primarily worked with very small businesses may not be equipped to handle the needs of a growing mid-size company.
If you want to learn more about how NorthStar Bookkeeping can help your business, please give us a call at (714) 608-1526.
- Are you proficient in the accounting software I use?
In today’s digital age, accounting software is essential for efficient bookkeeping. It automates many tasks, provides real-time financial data, and facilitates accurate reporting. However, the effectiveness of accounting software depends on the proficiency of the person using it.
NorthStar Bookkeeping specializes in QuickBooks cloud integration for on-demand cloud financial reporting and analysis.
QuickBooks is a popular accounting software for small and mid-size businesses. It offers a range of features, including:
- Income and expense tracking
- Invoicing and billing
- Financial reporting
- Payroll processing
- Inventory management
If you use QuickBooks or plan to, it’s essential to choose a bookkeeper who is not only proficient in the software but can also leverage its features to provide valuable insights into your business.
“QuickBooks is a powerful tool, but it’s only as effective as the person using it,” notes Heather Kirstein, co-owner of NorthStar Bookkeeping. “A skilled bookkeeper can maximize the software’s capabilities to provide accurate and insightful financial reports.”
If you have any questions about accounting software or how NorthStar Bookkeeping can help, please call us at (714) 608-1526.
- What bookkeeping services do you offer?
Bookkeeping encompasses a range of services, and the specific services you need may vary depending on your business. It’s important to clarify which services a bookkeeper offers to ensure they align with your requirements.
Here are some key bookkeeping services and why they are important:
- Bookkeeping Clean-Up: If your books are disorganized or have errors, a bookkeeping clean-up can bring them up to date. This is essential for accurate financial reporting and decision-making.
- Bank and Credit Card Reconciliations: Reconciling your bank and credit card statements ensures that your records match the bank’s records, helping to detect errors or fraud.
- Accounts Payable and Receivable: Managing accounts payable (what you owe to others) and accounts receivable (what others owe to you) is crucial for maintaining cash flow and healthy business relationships.
- Payroll Processing: If you have employees, accurate and timely payroll processing is essential for compliance and employee satisfaction.
- Customized Financial Reporting: Customized financial reports can provide valuable insights into your business’s performance, helping you make informed decisions.
“Every business has unique bookkeeping needs,” says Yee. “It’s important to choose a bookkeeper who can provide the specific services you require.”
Ready to discuss your bookkeeping needs? Give NorthStar Bookkeeping a call today at (714) 608-1526.
- How will you communicate with me and provide updates?
Effective communication is essential for a successful working relationship with your bookkeeper. You need to be able to easily communicate with your bookkeeper, ask questions, and receive timely updates on your financial status.
NorthStar Bookkeeping prides itself on being responsive and working in tandem with you and your staff as an extension of your organization.
“Clear and consistent communication is key to a successful bookkeeping relationship,” says Kirstein. “You should feel comfortable asking questions and receiving timely, understandable updates.”
- What are your fees, and how are they structured?
Cost is an important consideration when choosing a bookkeeper. However, it’s essential to balance cost with the value and quality of services provided.
NorthStar Bookkeeping provides cost-effective bookkeeping and administrative support.
Here are some common fee structures for bookkeeping services:
- Hourly Rate: The bookkeeper charges a set rate per hour of work. This structure is common for businesses with fluctuating bookkeeping needs.
- Monthly Flat Fee: The bookkeeper charges a fixed monthly fee for a defined set of services. This structure provides predictable costs for ongoing bookkeeping needs.
- Project-Based Fee: The bookkeeper charges a flat fee for a specific project, such as a bookkeeping clean-up.
When discussing fees, clarify:
- What services are included in the fee
- Whether there are any additional costs for specific services or software
- How often the fees are reviewed or adjusted
“While cost is a factor, it’s important to prioritize value,” says Yee. “The right bookkeeper can save you money in the long run by ensuring accuracy, providing insights, and preventing costly errors.”
Choosing the right bookkeeper is a significant investment in your business’s financial health. By asking these five questions, you can make an informed decision and find a trusted partner who can contribute to your success.
NorthStar Bookkeeping serves businesses in Orange County, CA, and across the United States. We understand the importance of accurate bookkeeping and are committed to providing responsive, reliable, and knowledgeable services. If you are looking for a bookkeeping partner, we encourage you to reach out for a consultation. Contact us today to talk about outsourced bookkeeping for your business.