You have the right to set expectations of any service or product that you invest in. The same should apply to your bookkeeper. If you have been in the habit of doing your own accounting up until now then you have some idea of what it entails. On the other hand if you are new to business then you may not as of yet really understand what is expected of you by way of keeping good accounting records.
The first thing that you should expect from the company that is going to provide you with bookkeeping services is that they have a basic knowledge of your industry. While it is impossible for any expert such as this to have a good handle on all industries, they must be willing to gain a good understanding of your business.
With today’s modern technology everything is basically becoming computerized. You need a bookkeeper who is up to date with good but simple to use accounting software. It has to be able to keep your records in proper order, provide proper statements and be able to generate all of the necessary documentation that your Toronto accountant is going to need to file your tax returns. You also need to be able to access the software so you are able to review the various components of your record keeping.
It is imperative that they are consistent in their bookkeeping methods and know how to adhere to a schedule. You need to know where you company stands financially and it’s your bookkeeping records that are going to provide you with important information.
Your bookkeeper has to be able to communicate with you, your accounting department and your chartered accountant. These are all the various people that play important roles in the finances of your business.
Ideally utilizing a bookkeeping service that is tied in with your accountant is an ideal situation. These two experts can then combine their knowledge in their respective fields of finance to produce the best accounting service that you need to be able to rely on for many aspects of your business.
