5 Things Your Bookkeeper Wishes You Knew

Five Things Your Bookkeeper Wishes You Knew 

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What would it take to make your bookkeeper happy with you? 

Maybe you’ve had your bookkeeper constantly contact you asking for more and more information and you’re not sure why the constant interruptions.  

Your bookkeeper has one goal: to create the most accurate books for your business. 

How does this happen? 

You working with, and not against, your bookkeeper.  

Here’s five things you can do to keep your bookkeeper happy. 

1. Keep Business and Personal Expenses Separate 

Mixing personal and business transactions complicates bookkeeping and can lead to inaccuracies in your financial records. It’s essential for auditing purposes and simplifies tax preparation, ensuring that you’re only claiming legitimate business expenses. 

Action Step: If possible, obtain a business credit card for business use only. If you’re unable to obtain one in the business name, obtain a separate card that is used only for business purposes.   


2. Maintain Organized Records 

Providing organized financial records, including receipts, invoices, and bank statements, helps your bookkeeper work more efficiently and accurately. This organization aids in precise financial reporting and can be crucial during tax season or in the event of an audit. 

Action Step: Work with your bookkeeper to develop a system that allows your bookkeeper to easily access and record your income and expenses accurately.  


 3. Understand Basic Financial Principles 

Having a foundational knowledge of key financial statements (such as profit and loss reports, balance sheets, and cash flow statements) enables more meaningful discussions about your business’s financial health and future planning. It’s beneficial for making informed decisions based on your financial data. 

Action Step: Not sure what your Management Reports from your bookkeeper are telling you? Ask your bookkeeper. Take time to meet with your bookkeeper to review your Management Reports for a clear understanding of the health of your business. Utilize your bookkeeper’s knowledge of the information given to you.  


4. Regular Communication is Key 

Keeping your bookkeeper in the loop about significant financial decisions, changes in operations, or unusual transactions can prevent misunderstandings and errors. Regular updates can also help in forecasting and strategic planning, making your bookkeeper a valuable advisor, not just a data processor. 

Action Step: Yes, your bookkeeper needs to know what you’re doing in your business. From expanding, to buying or selling of assets, your bookkeeper is to be kept informed to accurately maintain your books. Always meet with your bookkeeper on a regular basis.  


5. Acknowledge the Importance of Deadlines 

Bookkeepers often work with multiple clients and deadlines, especially during peak times like tax season. Providing documents and responding to queries promptly helps ensure your financial obligations are met on time, avoiding penalties and stress. 

Action Step: When your bookkeeper sends you an email or calls, there is a reason. Make a habit of responding to inquiries within 24 hours. You are not your bookkeeper’s only client, keeping the line of communication open is essential for timely reporting of your bookkeeping.  

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