Business is a game of highs and lows. There are a lot of factors which comes into play during its operation. One of the most important criteria over which the business profit depends is “Experienced Professional Bookkeeper”. The Professional Bookkeeper should have an unquestionable grip over accounting. Other major criteria are that they should be trustworthy. After all, they are the ones who ensure that the business transactions are recorded in a proper and timely manner. Financial transparency is very important. Without it, people will be playing a catch-up game with balances and thereby not be able to take proper and wise business decisions.

There are a lot of questions that may come up in your mind while evaluating a bookkeeper. Some of the major ones are listed below:

How is the accounting software setup? How much proficiency is maintained?

• Do they follow the latest practices in order to increase their efficiency and expertise?
• Are they able to provide the officials with reliable month end statements?
• How good have they performed in the past?
• Are they trustworthy?

Above questions will help you understand quite a lot about your bookkeeper. But having a Professional Bookkeeper who has a lot of pitfalls. Some of these pitfalls come to notice immediately whereas some of them are found out later in the long run. A few of the major disadvantages and loss that a bookkeeper brings into the business is given below for your consideration

Lack of expertise

This is a problem that comes into the notice of the official immediately. Without any sort of formal training or supervision, it cannot be ensured whether they are following the company policies. In a business, nothing can be left for luck or hope. Same applies to the field of transactions.

The inefficiencies of the bookkeeper

A criterion that comes into play over the long run after observation. A fallacy can be detected when the accounting and bookkeeping are not automated to the utmost level possible. All the financial models should be integrated into a single system. This will help the people to avoid wastage of time. This will also result in the reduction of errors, which can prove to be fatal for the company if not noted at the right time. Technology is advancing at a very rapid rate. As a result, it becomes very hard for an individual bookkeeper to keep up with the pace of technology and apply it within the workspace. If the bookkeeper does not set up an integrated accounting system, then there are chances that the business can go through some loss.

Inaccuracy

The ultimate aim of generating the report is to make a better decision in the future with respect to the errors that have incurred in the past. A financial report will help in making the business grow and develop. Thus it is very important to get the financial reports at a stipulated interval of time. If one fails to have the reports then the company is going to suffer a potential loss as people cannot arrive at a proper decision.

Fraud

The bookkeepers are the people who have full knowledge of all the transactions occurring on a daily basis. Hence, it becomes easier for them to manipulate the transactions favoring them. As a result, the company will face losses. One must make sure that the Professional Bookkeeper is trustworthy.