| They can give you one great reason why you should | | | | and we know they can take time to explain and to be |
| do the bookkeeping off-site, instead of on-site. You're | | | | resolved, but do ask them how they resolve queries. |
| not asking them to sell their company to you, but to | | | | Will they email you the query or will they phone you? Is |
| give you the reason why its better to send your | | | | there a set time in which they'll phone you? (if these |
| financial information to them – especially with the | | | | things are done abroad, there could be a time |
| amount of ID theft / identity fraud going on! | | | | difference). Or some people do these jobs from home |
| Many people, small business owners busy owner | | | | in their evenings and weekends, and don't have much |
| managers want to get their bookkeeping done by | | | | time in the day to look at your work. Do they ask you |
| someone else. And who can blame them? | | | | the queries one by one, or just send you a list? |
| Bookkeeping is a time-consuming activity, which | | | | 6. Who will be doing it? |
| business owners should not be concerning themselves | | | | Will you be allocated one person – the same |
| with. A business owner should be focused on running | | | | person as your point of contact, who will get to know |
| the business and making a profit. There are two ways | | | | your business and do your work quickly and efficiently |
| to get your bookkeeping done. | | | | because they get used to it, and are familiar with your |
| On site or off site | | | | transactions, or is it a factory farm abroad, where |
| You can have your bookkeeping done onsite at your | | | | they're processing and not that bothered? |
| premises or you can choose to have your work done | | | | 7. Information needed |
| offsite. But make no mistake about it. There is a huge | | | | Some bookkeeping offsite companies just want your |
| difference – and not just in price. Sometimes the | | | | bank statement - but ask them what information do |
| offsite price might seem very attractive but there are | | | | they need. If all they do is work off the bank |
| some considerations and factors you have to take into | | | | statement, and you write a lot of cheques, do they |
| account. So when deciding which way/which method | | | | want to see your cheque book stub too? Or do they |
| to use there are some useful questions you could ask | | | | want you to give them a list of all the cheques you've |
| your bookkeeping service provider. | | | | written, cheque number, who the cheque was to, what |
| Useful Questions | | | | it was for? Bear in mind – that all takes time. Its not |
| 1. In what format do they want your books? Now | | | | just sending them a bank statement. So find out what |
| when I say the ‘format' this means do they want | | | | information you will have to provide to these people |
| your ‘stuff' by email, by fax or by post? And this | | | | and in what format ? A handwritten list of cheques? |
| leads onto the next question. | | | | Do you need to point out if it had VAT on it? Do they |
| 2. Originals or copies? | | | | want it listed on a spreadsheet? Do they already have |
| If they want the stuff by post, do they want copies of | | | | template formats for you, so that you don't have to |
| all your receipts and paperwork or do they want you | | | | guess? |
| to send them the originals? | | | | 8. Administration |
| 3. Time frame | | | | The question you need to ask yourself is WHO is |
| If you are sending your originals when do you get them | | | | going to put all this information together for the offsite |
| back? And if you are sending them copies at what | | | | bookkeeper? It can end up being a job in itself. Who is |
| point will the bookkeeping be done so that you know | | | | going to collect the invoices? Post off the bank |
| where you are? So say if they receive the information | | | | statement or fax over the transactions? Who is going |
| on Monday will you get it back by Friday? Or, | | | | to take the responsibility for doing that job? Likewise if |
| Tuesday? | | | | the items are originals and are posted out when those |
| 4. Reporting / Feedback | | | | items come back who is going to file them away? or if |
| Do you or will you be sent an outline profit and loss ? | | | | the offsite bookkeeper just need copies of things who |
| What format will your information be processed? Will | | | | is going to stand there and photo copy them? Who? |
| you get a updated spread sheet or will you log in online | | | | 9. Access to your data records if you switch |
| to some bookkeeping software to be able to access | | | | book-keepers? |
| your information? How do you find out what your | | | | If the bookkeeping is going to be done offsite or on an |
| financial position is? | | | | online bookkeeping software – you need to check if |
| 5. Pricing | | | | will you get access to that data? If its going to be |
| Some offsite bookkeeping service providers will price | | | | done onto a software such as sage or quick books |
| the work based on the number of items. For example, | | | | will they send you the back up of that data? You |
| the number of transactions on the bank statement is a | | | | want to know at this because if you decide that you |
| popular measure of how much time it'll take them. Find | | | | want to take that bookkeeping function back in house |
| out how the pricing works. If there are "50" | | | | or to do it on site, you need to have data that you can |
| transactions it might be x amount, if there is 51 to 200 | | | | continue to work with. If the information is only |
| transactions it might be something else – a lot more. | | | | processed on the off site providers bespoke |
| Understand the pricing bandwidths. Some bookkeepers | | | | software, then its not going to any use to you should |
| will make a flat fee and say that there is an additional | | | | you ever decide that you want to switch to a better |
| cost for postage if they will have to post back your | | | | bookkeeper. And you don't want to find yourself |
| stuff to you. Some might send you a pre-paid | | | | ‘stuck'. |
| envelope. But find out. And what if your bank | | | | 10. Data Protection |
| statements are fairly short (and they price based on | | | | If you are sending copies of your information – you |
| the bank statement), but you have lots of little itty-bitty | | | | don't necessarily need to get the copies back – but |
| cash receipts – how do they charge? Is it by time? | | | | do ask your bookkeeping service provider how they |
| If they end up having lots of queries (because | | | | deal with the storage of data. Are they shredding it? |
| someone different does it each time) – do you end | | | | Keeping it? Who can access it? |
| up paying for that? And even speaking of queries – | | | | |