Shouldn’t I Just Use My Accountant’s In House Bookkeeper?

As a small business owner, you know how important it is to keep your finances in order. One of the key players in this process is your bookkeeper. But have you ever considered whether it's best to have a bookkeeper that isn't part of your accountant's staff? It seems like an ideal situation to have your accountant provide your bookkeeping services. Here are three reasons why it is NOT.

1. Avoid Conflicts of Interest

When your bookkeeper is part of your accountant's staff, there's a chance that conflicts of interest may arise. For example, if your accountant is responsible for preparing your tax returns, they may be more inclined to manipulate the numbers to minimize your tax liability. This could lead to inaccurate financial statements and potential legal issues down the road. By having an independent bookkeeper, you can ensure that your financial records are accurate and unbiased.

2. More Specialized Expertise

Accountants are trained to handle a wide range of financial tasks, from tax preparation to auditing. However, bookkeeping is a specialized skill that requires its own set of expertise. By hiring an independent bookkeeper, you can tap into their specialized knowledge and experience. They can help you with tasks such as accounts payable and receivable, bank reconciliations, and financial reporting. This allows you to focus on other aspects of your business while knowing that your finances are in good hands.

3. Cost Savings

While it may seem counterintuitive, hiring an independent bookkeeper can actually save you money in the long run. When you hire an accountant's staff member, you're essentially paying for two sets of services: bookkeeping and accounting. By hiring an independent bookkeeper, you can eliminate the need for duplicate services and potentially reduce your overall costs. Additionally, an independent bookkeeper may be able to identify cost-saving opportunities that you wouldn't have otherwise considered.

In conclusion, having a bookkeeper that isn't part of your accountant's staff can provide numerous benefits for small business owners. From avoiding conflicts of interest to accessing specialized expertise and cost savings, there are many reasons why it could be the best decision for your business. So, if you're currently using an accountant's staff member as your bookkeeper, it may be time to consider making a change.