Looking For a Reliable Bookkeeping Service in New York?
Are you looking for a reliable bookkeeping service in New York? If so, you are in the right place. With so many bookkeeping services in New York, choosing the right company may be challenging. There are many factors to consider when hiring a reputable and experienced bookkeeping service in New York.
Once you decide that your small business or non-profit requires bookkeeping services, it can take time to know where to begin. Selecting the right bookkeeper can help save you time and money, enabling you to focus on your organization’s objectives rather than getting lost in details. Nevertheless, hiring the incorrect bookkeeper could lead to financial issues. This article provides information on what you should consider when hiring a reliable bookkeeping company in New York for your small business.
#1: What type of bookkeeper do you need? You can hire a traditional bookkeeping firm, a freelancer, or a virtual bookkeeping service, each with its advantages and disadvantages. For instance, a freelancer may have lower rates but may only be available sometimes as a bookkeeping service with multiple employees. A freelance bookkeeper may be suitable for a tiny business, but a bookkeeping firm or virtual bookkeeping service may be a better fit for those looking to expand.
#2: Verify that your bookkeeper has relevant qualifications and experience – Regardless of which bookkeeper you choose, ensure that they have experience in the bookkeeping industry and the type of bookkeeping you require. Some firms employ inexperienced bookkeepers right out of school to save money, which may result in inadequate performance. Choose a bookkeeper with a minimum of 5 years of experience or one hired by a firm with a proven track record. It’s also essential to ensure that the bookkeeping service you select has experience working with organizations similar to yours.
#3: Consult with your community – Ask other small businesses and non-profit organizations for bookkeeping service recommendations. You can also check out online communities to learn more about bookkeeping services in your area and their work. Check for reviews and case studies to see how they function. There are many independent online review sites to use for this purpose. Check some of these sites to see how other clients rated the quality of services the potential bookkeeping company provides.
#4: Tech proficiency of the bookkeeper – If your small business is modern, it’s essential to use a software system for financial management and bookkeeping. The ideal bookkeeper must be trained and experienced in using the relevant software and proficient in Microsoft Excel and any specific industry systems. The bookkeeper should be able to perform bank reconciliations and process online payments.
#5: Meticulousness – Given their role, a bookkeeper must possess a sharp eye for detail. They must identify errors and balance accounts accurately and promptly. They should also generate timely and concise financial reports.
#6: Credit & cash flow management experience – A good bookkeeper should be able to manage cash flow and predict its needs. They must factor in seasonal trends, taxes, bonuses, and other recurring annual events. The bookkeeper must balance all these requirements to ensure business stability.
#7: Tax preparation – The bookkeeper you hire will play an essential role in preparing your business for tax season by knowing the relevant tax deadlines, organizing books/receipts, and ensuring compliance with tax regulations. Although it is recommended to seek the help of an accountant for corporate tax preparation, a competent bookkeeper can contribute significantly to the process.
#8: Training and qualifications – A good bookkeeper needs training, education, and strong business acumen for effective bookkeeping. They should also have a grasp of fundamental accounting and finance concepts. Staying updated with the evolving accounting rules and procedures is also essential for a bookkeeper’s role, though a master’s degree may not always be necessary.
Why Choose Peak Reliance?
Peak Reliance is your trusted bookkeeping service in New York. We offer highly professional bookkeeping services for small NYC businesses needing help with their taxes, bookkeeping, and more. Our year-round support and the use of the latest technology make us the perfect solution for all your business accounting needs. Call us if you are looking for a reliable bookkeeping service in New York.