Bookkeeping is one of the basic processes that every company needs to follow. No matter the size of the company, if the bookkeeping process is not conducted properly, the company may have to face issues in the future. As far as small and upcoming companies are concerned, bookkeeping is fine, but many of the bigger companies may feel it is a very time and labour intensive process as bookkeeping involves recording every financial transaction of the company. It is required by the management of such companies to understand that if the proper bookkeeping is not done, we will not be able to see the accurate financial picture of the company.
As Dubai is one of the best places to set up a business, more and more businesses are coming into the conduct business and make profits. The increasing number of companies in the country lead to a growing need for bookkeeping and all the related services that may be required by a company, such as accounting services and auditing services.
Important Considerations before availing Bookkeeping Services
While availing assistance from any bookkeeping and accounting firm, there are certain points that you need to consider. These points are:
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Reputation
The services of a bookkeeper should always be availed after checking the reputation of the said bookkeeper in the market. If the bookkeeper is well talked about among the peers and competitors and the people have used its services and are happy with it, then you can go ahead with the bookkeeping firm.
In today’s world, the reputation of a company plays a very vital role in the growth of the company and helps it to increase its reach. With a larger customer base, the company has more chances of achieving success.
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Certifications
The bookkeeper should have certifications as proof that the person has complete knowledge of bookkeeping, and this knowledge can be verified. Having a degree of a Certifies Public Accountant (or CPA) will allow a bookkeeper to understand the business and then provide the bookkeeping services accordingly. It is very important for the management of the company to check for all the certificates the bookkeeping firm has.
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Communication
Communication between the bookkeeper and the management of the company plays a very important role. If the bookkeeper is not able to communicate well with the management of the company, the top officials of the company may take the wrong decision, and this decision may, in the long run, can hamper the financial position and the overall market position company. Proper two-way communication between the management and the auditing and accounting firm will ensure the success of the company in the business environment.
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Easy Access at all Times
Some businesses require the assistance of a bookkeeper at all times. As such, businesses need to record their transactions at all times. Such businesses need to avail the services of a bookkeeper, which provides its services 24X7. If a company avails outsourced bookkeeping or outsourced accounting services, ease of access to the bookkeeper is a must.
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Remains Constantly Updated
The business environment is in a constant state of flux and changes very frequently. The bookkeeper is should always be up to date with the new rules and regulations. He should be flexible enough to change his working style according to the changed regulation. In case the business does not have proper bookkeeping, it may face heavy losses or become obsolete.
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Technologically Sound
In today’s world, technology plays a very big role in the growth and success of a company. With a change in the technology, majority of the work of the company is done online. This means that a bookkeeper needs to have a lot of knowledge regarding the latest technologies and should provide assistance to the companies on all the platforms.
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A Sense of Honesty
Though it is not a very technical requirement from a bookkeeper, having honesty is very necessary. A bookkeeper should be very honest about the financial health of the company. He should not provide wrong or misleading figures to the management of the company as all the decisions of the company will be taken on the basis of these numbers.
The bookkeeper should be professional in his activities. If the bookkeeper is not very professional in his demeanour, the company will have to face the final consequences. A bookkeeper plays a very important role in determining the financial position of a company as he is solely responsible for recording all the transactions of a company and thus you should avail the services of a bookkeeper
The accounting and bookkeeping services of JAXA Chartered Accountants will allow your company to achieve great success. JAXA consist of teams of professional accountants and bookkeepers who will nurture your company and will assist in its development. For more details on the various services we provide, do contact us – we’d be happy to help.
