How To Find The Top Bookkeeping Services for Your Business

How To Find The Top Bookkeeping Services for Your Business

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Every business, no matter how small, needs an accountant. It’s virtually impossible for business owners to manage their own accounts when they are already running a business because there’s not enough time in the day. The need for bookkeeping services often results in businesses taking on full-time accounting staff, which is actually completely unnecessary. Paying bookkeeping staff’s salaries can be very expensive.

Instead of hiring full-time accounting staff, business owners can outsource their accounting to a third-party bookkeeping service. Finding the perfect service can be difficult, however.

This article will tell you exactly how to find the perfect bookkeeping service for your business:

What Are Bookmaking Services?

A bookmaking service is a service that helps businesses to stay in control of their finances, managing everything, from paying one’s staff to filing tax returns at the end of the year. A professional payroll service will be able to save your business a lot of money on taxes, by working out deductions and ways for you to save. According to the experts from Suretax Accountants, taxes are always changing. A trained, professional team of accountants will be able to adjust your business’s tax return to meet these changes, ensuring that you still save money, and your return is filed properly, and on time. Bookkeepers can also give financial advice, so act as financial advisors.

Referrals from Friends

If you have friends that are professionals, you could ask them for a referral. The best part about referrals is that they often result in you and the referee receiving some kind of bonus, be it a discount or cash reward. If you have any family members that previously owned their own businesses, then it may well be worth asking them for recommendations as well. Additionally, if you have any relatives or friends that actively practise accounting, then you should ask them if they can help you.

Referrals from Other Businesses

If you have friends in local businesses that outsource their bookkeeping, then it’s definitely worth asking them for referrals. The difficulty that you face when you ask other businesses for help is that they could make biased recommendations or intentionally sabotage you, by referring you to a subpar accountant. 

The only way to avoid bias is to extensively research every referral that is made to you. Make sure to scour the internet for reviews, testimonials, and anything else, so that you can be sure the service to whom you have been referred is professional and qualified enough to take you on as a client.

Conducting Internet Searches

If you don’t know anybody that you can ask for a referral, then you can go ahead and conduct your own search. When you are conducting your own search, make sure that you bear in mind many of the sites that you see at the top of Google’s listings will likely have implemented SEO tactics in order to increase their website’s rank, so their rank doesn’t necessarily mean that they are a quality service. 

With the above in mind, read reviews as already mentioned, and find out what services are considered the best, out of the ones that have appeared at the top of the search listings.

Reading Review Sites

Review sites are a very powerful tool that you can use to find the perfect bookkeeper. When you are reading what review sites have to say, bear in mind that the content could be sponsored. While the site isn’t likely to outright lie, they might exaggerate the service’s quality, so that they receive a sponsorship payment. To counter this, read external reviews on other websites that aren’t sponsored, such as Trustpilot or Google Review. These websites will give you a picture of what your chosen service’s customers think of them. 

Online Articles

In addition to the articles that are published on independent review sites, you should also read the articles published by business magazines and journals. Very often, these magazines and journals will publish deep dives into the industry's best bookkeeping services. 

Magazines are, as with independent review sites, very often sponsored, but usually, the insight they give is completely genuine and not exaggerated or embellished in any way. These magazines and journals are definitely worth subscribing to and reading if you are looking for quality services.

Regulated Agencies

Make sure that any business that you work with and outsource your accounting to is regulated and has the proper licenses. Businesses that operate in the financial industry in the United Kingdom without licenses are to be avoided. 

Businesses need to have specific licenses to operate legally in the U.K. If they are operating without licenses, then not only are they likely breaking the law, but they could also take shortcuts with other things, like your business’s bookkeeping. Most businesses publish their licenses and the bodies that they are regulated by on their websites.

Extra Research

Once you have found a company that you want to work with, then conduct extra research so that you can be sure they are as good as you think they are. Lots of businesses seem good on the surface, but after a little digging it turns out that they are not. You mustn’t take any shortcuts with your business’s accounting, because a misstep on your tax return could result in your receiving a large fine. For this reason, conduct extra research and make sure that you know exactly who you are dealing with.

Price Quotes

After you have conducted research and found an agency that you want to work with, you should contact them and ask them for a price quote. A price quote will give you a clear picture of how much the agency will expect you to spend. You will also be able to arrange payment terms with them. Payment terms will outline how much you pay, for how long, and what kind of arrangement you will pay under (i.e. weekly, monthly, or yearly). Get multiple quotes before settling on one.

Conclusion

In conclusion, it’s fair to say that accounting services are very important. If you want to improve your business’s accounting efficiency, then instead of hiring full-time accounting staff, you should consider outsourcing yours. The benefits are myriad. Make sure that you conduct extensive research when searching, so that you can find the service that’s matched to your business. 


 

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