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Tips for finding a bookkeeper
It's sad, but true. Some bookkeepers aren't as experienced as they say.
With the recent demand for accounting support services—especially for small and medium businesses—it can be all too easy to engage the services of a bookkeeper who is not qualified or good at what they do. Or engage a fly-by-night bookkeeper who will be with you one day and gone the next.
To avoid the extra cost of having your accountant redo the work of your bookkeeper, or run the risk of an audit by the Australian Tax Office, take care when selecting a bookkeeper.
Here are questions to ask a prospective bookkeeper:
What formal qualifications do have?
Asking about qualifications is important—remember that bookkeepers don't need formal education to work. Professional bookkeeping associations such as AAT Australia, recommend a minimum qualification of Certificate IV Financial Services (Accounting) or Certificate IV Financial Services (Bookkeeping).
How many years experience do you have?
You don't want your business to be a guinea pig. You want a bookkeeper who is confident and has the experience to tackle the job.
What professional association are you a member of and can you outline the code of conduct you follow?
Without such a membership your bookkeeper is not taking their profession seriously. It's a question of integrity and commitment to providing the best service possible and a desire to maintain high standards, in line with an established code of conduct.
Are you an MYOB Certified Consultant and approved to be listed on the MYOB web site? If so, can you provide a current ID card?
Simply ask to see your bookkeeper's ID card to check if they are a certified consultant. Also, the business of every MYOB Certified Consultant is listed on the MYOB website and their names are in the Certified Consultant Listing booklet included in all MYOB accounting software releases.
How do you keep up-to-date with the latest knowledge?
Is your bookkeeper a member of one or more professional associations? If not, they won't be receiving regular communications on the latest industry changes. Does your bookkeeper take workshops and courses to keep their skills up-to-date and regularly use the Australian Taxation Office website for news and advice?
Are you fully insured?
Professional bookkeepers all have Professional Indemnity, Public Liability and Worker's Compensation. Does yours?
Are you willing and able to provide references?
Confident bookkeepers will always do so—ensure you check the references.
Are you a sole operator? What is your structure?
There's nothing wrong with sole operators but they don't suit all businesses. If one of the Successful Alliances' team can't come to work (vacation, ill or tending to a family member), another team member can easily pick up a file where it has been left off. Sole operators can't always do so. What does your business need?
Are you a BAS Service Provider?
Only BAS Service Providers can legally lodge a BAS on behalf of your business and provide you with a valuable, two-week lodgment extension. Your bookkeeper may be liable for penalties imposed by the ATO for errors or omissions on your BAS if he/she is not an authorised service provider.