How to Select Bookkeeping Services

How to Select Bookkeeping Services

 

How to Select Bookkeeping Services: 

 

The bookkeeping functions of a small business are a key component of the

company’s long term success. Although the outsourcing of bookkeeping services has many advantages, both financial and

How to Select Bookkeeping Services

How to Select Bookkeeping Services

otherwise, the fact that they are so important to a company’s growth and

profitability makes selection of a bookkeeping services provider a very

important decision.

The following are some important points for a business to consider in the process of selecting a

bookkeeping services provider:

• Education and Credentials

It is advantageous to select a bookkeeping services provider that has some type of

formal education or professional certification. A person with formal accounting or

bookkeeping education will be more likely than a person who has had no formal

training to understand various bookkeeping policies, strategies and procedures. For

example, the Bookkeeper Certification issued by the National Association of Certified

Bookkeepers validates a bookkeeper’s knowledge in 12 essential bookkeeping

skills. In addition, there are various types of OuickBooks certifications that confirm

a bookkeeping services provider’s proficiency with various aspects of this particular

software program.

• CPA Oversight

When selecting a bookkeeping services provider, it is advantageous to select one that

has the built in oversight of a Certified Public Accountant. Certified Public Accountants

have unlimited practice rights with the Internal Revenue Service which means that they

can represent their clients before the Internal Revenue Service on all tax issues including

appeals, audits and tax settlement. In addition, because of their licensure, Certified

Public Accountants must meet high ethical standard and fulfill specific continuing

education requirements.

• Industry Specific Experience

It is important to select a bookkeeping services provider that has the depth and breadth

of experience your company requires. Businesses if varying sizes, stages of maturity and

industry focus have different bookkeeping peculiarities, making it important to select

a bookkeeping services provider that has experience with the specific bookkeeping

issues they will encounter in servicing your business. For example, if your business

is just opening, you will want to select a bookkeeping services provider that has had

experience with setting up bookkeeping systems for start-up businesses.

• Access to Latest Technology

One advantage of using an outside bookkeeping services provider, it that they often

have access to the latest and best bookkeeping software. If the bookkeeping services

provider will be submitting payroll tax payments, it is wise to make sure they are using

the Electronic Federal Tax Payment System (EFTPS). This system is required for payroll

tax payments in excess of $200,000 and is recommended for all payments since it is fast,

accurate and supplies immediate confirmation that a transaction has been completed.

In addition, it is important that the bookkeeping services provider is using a software

package that processes the actual data you enter rather than reentering it and which

allows you access to your financial data at any time.

• History of Good Service

Before selecting a bookkeeping services provider, it is important verify that the provider

is honest, ethical and has a history of providing excellent service. One means of

accomplishing this is to obtain recommendations from similar businesses in the vicinity.

If a business is happy with the bookkeeping services provider they are currently using,

they are usually happy to provide them with a good reference. In addition, you will want

to do an online search to check out the ratings and reviews of the any bookkeeping

services provider you are considering and do an online search to make sure there are no

registered complaints about the firm under consideration.

If your business is seeking an outsourced bookkeeping solution, the experienced professionals

at Orange County Bookkeeping can provide you with the expertise you are looking for. Our

licensed accountants and bookkeepers are equipped to serve Orange County businesses of

any size, structure or industry focus. Visit us today at www.ocbookkeeping.com to learn more

about our full range of bookkeeping, tax and business consulting services. Contact us by phone

at (866) 667-3984 at or by email at info@ocbookkeeping.com to receive a free, no obligation

consultation.

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