If you’ve ever shopped around for a bookkeeper in Melbourne, you’ve probably noticed that the rates charged by the companies are all more or less the same. In fact, you should be properly wary if you find a firm that’s significantly cheaper [or even more expensive] then all the other’s you’ve received quotes from. There’s a few good reasons for this.
Tell me more about bookkeepers.
Bookkeeping is a field vital for every business, as tight financial control will help keep your books accurate, your taxes up to date [and minimized] and your expenses under tight control. You can’t use just anyone, as bookkeepers are a specialist profession.
Bookkeepers are required to be registered and compliant with local law themselves, and need to be proficient in a host of different financial skills. There are specialist accounting fields such as auditing and certain types of specialized fields, and of course you’ll likely notice that you’ll pay a little more for the more personalized or specialist forms of accounting. You’re unlikely to need to use these specialist fields all the time, however, and it’s hardly surprising that those with a highly specialist skill will also charge a little bit more for that skill. You’ll also pay a little more for expertise and experience.
In general, while you may not need access to some of the more specialized bookkeeping skills, you will want to make sure that the individual or firm you choose have experience with taxation, payroll and cash flow to ensure they will have a solid grasp on the basics of your business.
What other things effect a bookkeeper’s rates?
Additionally, make sure you compare like with like when it comes to rates. Some bookkeepers offer a very limited service, where others offer a wider ranging approach. If you’re not paying for carriage in and out of documents, you’ll probably pay a little more. A bookkeeper concentrating on all aspects of your business, from payroll and commission to termination, leave and reporting will charge a little more than someone who doesn’t offer these additional services. If you only need them to handle limited invoicing hen there’s no need to pay more for their services, but if you need the whole package be prepared to pay for it.
Tax management services will also effect the price you pay. However, it can be difficult as an individual to keep on top of the changing tax legislation and what you are and are not entitled to or are required to do. This goes triple when you are a company or corporation.see it from http://www.philly.com/philly/news/20150904_D_A___Bookkeeper_busted_for_pinching__696_631.html
Remember that not only will an outsourced professional be more proficient in these laws, they have the time to keep that knowledge fresh and up to date on your behalf. They will have invested in infrastructure like reporting and accounting software, and will be required to keep their knowledge updated to maintain their professional standing.
As with most things, you will get what you pay for when it comes to outsourced bookkeepers in Melbourne. Keep a careful eye on the quality of service and the services offered when choosing the right bookkeepers for your needs.