23
Nov 2020
The process of Bookkeeping may seem insignificant for the business, but it is a necessary function that should be performed by all the businesses, no matter the size of the business. Bookkeeping is a process of recording each and every transaction performed by the business. Having a record of all the transactions can be very beneficial as it will allow the entity to understand what transactions were unnecessary and which transactions can be removed in the future.
In the case of a business, the Bookkeeping can be used not only for recording all the transactions but can also be used as a tool for the regulation of expenses. It is considered as a which can reveal a lot of information about the company and can also help the man agent in the development of a path or strategy for the future.
Factors to consider while switching Bookkeepers
There are certain factors that need to be kept in mind while switching a bookkeeper and choosing the right bookkeeping firm which will be suitable for the business. These factors are:
1.Necessary Expertise and Certifications
To choose a bookkeeper, one must first see what are the certifications in possession of the person or the firm. Apart from the various required certifications, if the person also has an expertise of two to three years in the field of bookkeeping and accounting, then it will become the icing on the cake.
2.Self-Control and Confidence
Self-control and confidence are two very important factors that not only help the person or firm to take into consideration all the transactions of a company but also help in the transmitting of the decision of the company.
3.Well Versed with Technology
In today’s world, technology is constantly changing. The change in technology is not specific to any specific field and has even affected the finance and the business world. In order to keep up with these changes, it is imperative that the bookkeeper should know about using such technology to provide the maximum benefit to its client.
4.Good in Communication
Good communication between the bookkeeper and its client is the key because if the bookkeeper is unable to explain any idea or is unable to understand the idea of the client, it may result in dire consequences of the business. Good communication is a two-way street, and to the clients well as the bookkeeper must be able to convey their thought to each other.
5.Remains Updated with The Current Trends
The field of Accounting and Bookkeeping is continuously evolving, and it is the duty of a bookkeeper to stay updated with all the trends and evolutions in the field of bookkeeping. Following the latest trend can help save funds and can also save the time of the bookkeeper as well as the client.
These are some of the skills which the bookkeeper should possess and are considered as an important factor when deciding the company should take assistance from which bookkeeper.
There is a growth of a new field of outsourced Bookkeeping and Outsourced Accounting, which can assist a company as a regular bookkeeper but cost a lot less. This decrease in price can be a very big factor in maintaining the profitability of a business. to know more about outsourcing bookkeeping functions, read our blog 6 Things to Consider Before Outsourcing your Bookkeeping in Dubai.
Bookkeeping is a very important function and acts as a backbone for the other important functions such as Accounting and Auditing. Thus It is recommended that you should avail the services of a reputed firm which can handle all the requirements of your business.
If you are looking for a reputed Accounting and Auditing firm in the United Arab Emirates, then look no further. JAXA Chartered Accountants can assist you in all the bookkeeping, accounting, and auditing related matters. They also provide many other services related to Value Added Tax, And Economic Substance Resolution.
For more details of the services provided by JAXA Chartered Accountants, feel free to Contact Us. We will be happy to assist you and provide a remedy to all your problems.