If you’re currently working with a bookkeeper, but are looking to save money on your service fees, then we have a few tips to share with you. Our company has been assisting many small business owners for over 12 years. Over those years, we’ve been able to provide our clients with the best services and prices that fit their specific bookkeeping needs. In today’s post, we want to share 7 tips on what you can do to decrease your fees and help your bookkeeper streamline your bookkeeping process in order to perfectly fulfill your needs and budget.
- Send All Paperwork at One Time
Paperwork that is sent in incomplete batches may result in an unnecessary lag time. Stopping tasks in progress to request missing paperwork creates a higher probability of mistakes and missed deadlines. You may find creating and following a check sheet to ensure all paperwork is sent is helpful. - Send Time-sensitive Documents Early
Although this tip applies to all bookkeeping, it can be more specifically applied to bill-pay services. It’s always best to forward all bills/statements consistently and ahead of time in order to process payments. Delayed paperwork can result in late fees, disconnected services, etc. If this isn’t a viable option contact your service providers and update your contact information to “in-care-of” your bookkeeper. - Be Organized
Avoid submitting your paperwork in a large box for your bookkeeper to sort through. You can simplify the process by creating a checklist of all the items that need to be given on a monthly basis and organizing statements and receipts by month. - Provide all Necessary Details
Providing details on your expenses, especially unusual or large expenses, can eliminate time spent on research and corrections. The more familiar your bookkeeper is with your business processes and transactions the less time will be needed to complete your books. - Provide Deposit Information
If you’re offloading your accounts receivable, forward all sales information in a consistent and timely manner. Doing so can greatly improve your cash flow. Also, make sure to disclose deposits that aren’t income to prevent paying on money not subject to tax. - Provide Petty Cash Receipts
Many businesses lose the opportunity to claim deductible expenses because cash receipts aren’t given to the bookkeeper. Disclose your purchases made with petty cash or outside money by saving purchase receipts or by creating a spreadsheet tracking your balances and transactions. - Have the Bookkeeping Done Consistently
Avoid waiting until tax time to deal with your books. During busy season CPAs are more likely to hire a bookkeeper to get you caught up. Extra charges from your CPA will be higher than using a bookkeeper throughout the year.
If you don’t already have a bookkeeper or are looking to switch from your current bookkeeper, contact us today at 310-534-5577 to find out how our company’s services could help you!
