As a small business owner, you juggle a million things. From marketing to operations, customer service to product development – it's a constant balancing act. Amidst all this, one relationship often gets overlooked, yet it's crucial for your financial health and sanity: the one with your bookkeeper.
Your bookkeeper isn't just someone who crunches numbers; they're a vital partner in your business's success. A strong, collaborative relationship can save you time, money, and a whole lot of stress. But how do you cultivate that? Here are some key strategies to foster a fantastic partnership with your bookkeeper:
1. Communication is King (and Queen!):
- Be Proactive, Not Reactive: Don't wait for your bookkeeper to chase you for information. Set up a regular schedule for sending them documents (receipts, invoices, bank statements). Even a quick email saying, "Everything's uploaded!" can make a big difference.
- Ask Questions (No Question is "Stupid"): If you don't understand a report, a categorization, or why something is being handled a certain way, ask! Your bookkeeper is there to guide you. It's better to clarify now than to uncover discrepancies later.
- Share Your Business Vision: Let your bookkeeper know about upcoming changes, big purchases, or new revenue streams. The more they understand your business's trajectory, the better they can categorize transactions and provide insightful financial reporting.
2. Respect Their Time & Expertise:
- Provide Organized Information: While your bookkeeper is a wizard with numbers, they're not mind readers. The more organized your financial data is when you hand it over (even if it's just neatly scanned documents), the less time they'll spend deciphering, and the more efficiently they can work.
- Meet Deadlines: If your bookkeeper gives you a deadline for information, do your best to meet it. This helps them stay on track with their own workload and ensures your financial reports are ready when you need them.
- Trust Their Professional Judgment: You hired them for their expertise. While it's good to understand the "why" behind their actions, trust that they are applying accounting principles correctly and acting in your business's best financial interest.
3. Embrace Technology (Together!):
- Utilize Cloud-Based Solutions: Many modern bookkeeping practices leverage cloud accounting software (like QuickBooks Online or Xero). This allows for seamless collaboration and real-time access to your financial data for both of you.
- Learn the Basics: You don't need to be an accounting expert, but understanding the basic functions of your accounting software can empower you to track certain metrics and communicate more effectively with your bookkeeper.
- Discuss Best Practices: Talk to your bookkeeper about the most efficient ways to share documents, process expenses, and manage payroll within your chosen systems.
4. Your Bookkeeper Cares More Than You Think!
It's easy to view your bookkeeper as a service provider, but a truly great bookkeeper is deeply invested in your success. They see the patterns in your spending, the ebb and flow of your revenue, and they understand the financial health of your business intimately.
- They Spot Opportunities (and Red Flags): Your bookkeeper can identify trends in your financials that you might miss. They can flag unexpected expenses, highlight areas where you're overspending, or even point out opportunities for cost savings or increased profitability.
- They're Your Financial Advisor (in a way): While they're not an accountant, their daily interaction with your numbers puts them in a unique position to offer practical advice. They might suggest better ways to track expenses, manage cash flow, or prepare for tax season.
- Your Success is Their Success: When your business thrives, it reflects positively on their work. They take pride in seeing their efforts contribute to your growth and stability. Don't underestimate the satisfaction they get from helping you achieve your financial goals.
5. Feedback is a Two-Way Street:
- Give Constructive Feedback: If there's something you'd like to see done differently, or if you have suggestions, communicate them respectfully and constructively.
- Be Open to Their Feedback: Your bookkeeper may identify areas where you could improve your financial processes. Listen to their insights; they often have a bird's-eye view of your financial habits.
- Acknowledge Their Hard Work: A simple "thank you" goes a long way. Let them know you appreciate their dedication and the value they bring to your business.
The Payoff: A Partnership for Success
By investing in a strong relationship with your bookkeeper, you're not just improving your financial record-keeping; you're building a foundation for sustainable growth. A good bookkeeper will do more than just balance your books; they'll offer insights, flag potential issues, and help you make informed business decisions. So, go beyond the balance sheet and start cultivating that vital partnership today!