A business that keeps a daily record of its ongoing money transactions is the one that always prospers. In this limelight, the functions of a book-keeper start shining. Before you hire a book-keeper, you must be prepared with the questions to ask a bookkeeper.

A record of even a penny is important in the business world. It is because the business must acquire the knowledge of where all of its money is going?

Every transaction must be noted with full justification:

• Why the transaction has happened?
• With whom the transaction was conducted?
• Through which medium the transaction was made?

There are myriad questions which comes into the mind while handling the business finances. If you get a proper person to take care of your business then it can bring wonders to you.

We come to the point and say – what is meant by the word “book-keeping”? The answer is that the book-keeping is handling business’ financial transactions including

• Sales
• Purchases
• Receipts
• Payments

The aforementioned list includes transactions conducted to a person or any organization.

A series of questions will surely come into your mind:

• Do I need bookkeeping services?
• Why do I hire a book-keeper?
• Are there any benefits of keeping a book-keeper?

These are the relevant questions which can arise in the mind of the business person. All of the above questions can be answered with the functions of a book-keeper.

The business goes into day-to-day financial activities (related to sales, purchase, inventory, receipts) every day. These all transactions must reflect a perfect picture on the accounting books, and this can only be done if someone is taking care of the

Here comes, the role of a book-keeper. They mainly handle

• Business daybooks (cashbooks, petty cash books, purchase books, etc.,)
• Ledgers (customer ledgers, suppliers ledger) of the business.

The accountant comes into the picture after the work of the book-keeper. The accountant then furnishes financial records out of the data for the company.

List of Questions to Ask A Bookkeeper-

Read our series of questions to ask a bookkeeper before making a decision to bring him on-board with you and your business. We will guide you in providing you every best question to ask a bookkeeper.

Guide me with suggestions as to how to make book-keeping a more robust and efficient?

Ans: Use Book-keeping in:

• Tracking Performance against plans
• Access to financial data
• Daily Transaction Monitoring

Prepare yourself for every question to ask a bookkeeper because whether you opt for a bookkeeper near me or online bookkeeping services, having suggestions or answers directly from the book-keeper will pour out beneficial for the business.

A book-keeper must look out for new and efficient ways to build the fort of book-keeping. An expert book-keeper is the one who keeps the pace of technological advancements with the speed of the accounting industry.

Yours book-keep always be up for making business-oriented efficiencies, for example, bill payments; memorized transactions; print checks, etc.

Can you provide us with ways to increase business’ sales?

Ans: The assistance of Book-keeping to give sales a high tide is by:

• Accurate Invoicing
• Expense Analysis
• Pricing Analysis

It might be a moment of awkwardness for your book-keeper, but the sales-oriented ideas must always be welcomed. This might not be the question to ask a bookkeeper, as the duty of the book-keeper is to record sales transactions, and not make sales.

As the business, solely, runs on the revenue generated from the sales; asking your book-keeper about the sales increment, can furnish you with some ideas.

As we have mentioned earlier in our blog, the book-keeper is the one who keeps all the day-to-day financial records of the business, so they can guide perfectly on this.

Their eyes may notice the sales trend which might get overlooked by the business management.

If I am going to make a business decision, how will bookkeeping guide me?

Ans: Book-keeping will assist you in following business decisions:

• Investing Decisions
• Lending Decisions
• Operating Decisions
• Financing Decisions

A top-rated question to ask a bookkeeper. This is because, as the number of decisions (long term or short term) have to be taken in a day by the business.

Book-keeping is the same as a business in decision-making as a mast to a boat in the sea. A myriad of business decisions can be taken with the assistance of book-keeping.

You should always consult your book-keeper before making any business decision/s; ask your book-keeper about the different ways to make a single business decision.

Don’t let your book-keeping feature go off or wasted by under-estimating its power to take various business decisions. Make your book-keeping from filing taxes to prosper your business.

Can bookkeeping provide me with customized reports, as per my needs?

Ans: Yes. Book-keeping provides you customized reporting of:

• Profit and Loss Statement
• Balance Sheet
• Accounts Payable
• Accounts Receivable
• Statement of Cash Flows

Gone are those days when book-keeping was done, keeping in mind, the basic profit & loss statements and balance sheets. You have to go beyond these basic financial reports. It is better if you have these questions to ask a bookkeeper on the table, questions prepared, with you.

Speak up with your book-keeper as how you can extract new information from a financial report, as per your say. It is quite vital here to put the burden of responsibilities on the book-keeper’s shoulder, to extract your customized financial reports.

When you have a set of customized financial reports on regular intervals, for example, on a daily basis, then, you can have the knowledge of identifying issues and opportunities.

Make sure that you use your book-keeping quite well as to make various business decisions, whether in present or future.

Can bookkeeping help me compare my business’ performance for different quarters?

Ans: You can easily fetch daily, monthly, quarterly or yearly information from the book-keeping.

There can be variance between financial reports and CRM, as their alignment should match at the overall trends of your business in terms of financial health. In order for questions to ask a bookkeeper, you also come up ready with the financial numbers.

And the financial health must be comparable to a time period (present) with a time period (past) – on monthly, quarterly or annual period.

Please see that your book-keeper is not generating a new item for the same old item, as it will reflect in future financial statements.

For example, a ledger is already there for the Miscellaneous Expenses, in which every expense comes.

But again, a new ledger is created by the bookkeeper with the name of Sundry Expenses to post expenses.

A book-keeper must refrain from doing such mistakes as it will only lead to confusion while making further financial reports. The example of further financial reporting is trial balance and profit & loss account.

Your book-keeper must have an eye on the pulse of your business, which is monthly financials, for reporting as well as for tax submissions.

You must remain updated with your monthly financial records if you want to judge the company’s performance on your scale. The first foundation of the business is sat by the book-keeping. If your book-keeping is going straightway, then, it is all set.

Our Say

At the end of this blog, we would like to suggest that the book-keeping is a relevant piece of the business. You can reap high-end benefits if you use the book-keeping as a tool for your business. You must remain in contact with your book-keeper and, generally, go meetings with the book-keeper with an agenda of questions to ask a bookkeeper.

Get in contact with our dedicated team at Accounts Confidant who are dealing in the book-keeping field over the years at +1-866-301-2307. You will have your answers to every question asked from us.