It’s well known that in order to make a business successful you need a strong team who works hand in hand together. This not only applies to your everyday operations, it is also critical to the financial aspect of your business. Building a strong team for your finances will depend on the size of your company but should always start with a qualified and knowledgeable bookkeeper.
You may be asking yourself, “Who else I can add to my team that will work alongside my bookkeeper to ensure the success of my company?”
We have compiled a list of just a few professionals that may be what you need.
Accountants are an essential addition as they will complete your year-end, analyse financial reports and handle any unforeseen issues that may arise with government audits.
Financial Planners specialize in long-term goals and investments. They can help both accountants and bookkeepers put procedures in place to aid in saving money for such things as retirement.
Financial Coaches will help you create a budget and look at your spending habits to see if there is room for improvement and work along with your bookkeeper and other team members to ensure you stay on track to manage your cash flow.
Every member of your financial team will be an important piece of the puzzle, but your bookkeeper is the one who needs to be working with each of them on a one-to-one basis, producing reports and any financial information that anyone asks for. Your bookkeeper must be someone who has complete knowledge of all the financial aspects of your business, not just your everyday business transactions.
Payables, receivables and payroll knowledge is a good start, but knowing the full circle of what needs to be done in order for the company to achieve the short and long-term goals set out by the other members of your financial team is imperative.
Ensuring that you are bringing in the right person for each job as part of your financial team may take some time and shouldn’t be something that you jump into, as a business owner. Make sure you do your research and be diligent when putting together your team.
Steve Jobs once said:
“Great things in business are never done by one person. They’re done by a team of people”.
Keenans Accounting Service was founded in 1998 to serve the Midland and surrounding area. We’re a professional team who are dedicated to helping you define your bottom line. We keep a keen eye on your numbers so you don’t have to.