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I Need a Bookkeeper

Sarah Brooks

March 26, 2013

If you own a small business, you’re aware that the best way to save money is to do everything yourself, but unfortunately that leaves little time for you to actually grow and market your business.

Once you’ve had some success and can afford to hire someone, a good idea is to start with a bookkeeper. Bookkeepers keep track of all financial transactions and statements, including handling deposits, payroll and monthly credit card statements.

If you cringe at the thought of doing all of this yourself, seriously consider hiring a bookkeeper.

What to look for in a bookkeeper

Bookkeeping is a task that is not to be taken lightly, since it involves dealing with the overall finances of your business.

A bookkeeper should possess the following traits:

* Be experienced. Though being a bookkeeper doesn’t require a degree, it’s important to find someone with experience in your field or industry.

* Be reliable. You may need extra help towards the end of each month or during tax season. Hiring someone that’s reliable and willing to go above and beyond is a necessity.

* Be honest. This is the number one trait you need in a bookkeeper. Embezzlement happens all too often in both small and large businesses. Hiring someone you trust is a must.

* Be detail-oriented. The bookkeeper handles expenses and reports monthly what the business is spending money on. Due to being allowed to write off certain expenses on your taxes, this person needs to be detail-oriented to make sure everything is being labeled correctly.

* Be friendly. Though this isn’t a must, you will be spending a good amount of your time with your bookkeeper, so choose someone who is friendly and outgoing, and overall someone that you like.

How to find a bookkeeper

If you’ve made the decision to hire a bookkeeper, it’s time to start looking for one. You can post an ad on a job board (such as Monster, CareerBuilder or Craigslist) or look for ads from people that are looking for a bookkeeping job.

Another great - and highly recommended way - to go about finding a bookkeeper is to ask people you trust if they know anyone in the business. If a trusted client or friend recommends someone, you’re more likely to trust that person yourself.

Tips on finding a bookkeeper include:

* Interviewing as many potential candidates as you can

* Asking about their experience and education

* If they lost their last job, being weary as to why

* Doing background checks on your top candidates

You can never play it too safe when it comes to hiring the right bookkeeping employee, so take your time with this process to ensure you’re getting the best-suited person for the position.

How much should you pay your bookkeeper?

Bookkeepers, on average, make $37,000 per year, which breaks down to about $18 per hour. Depending on how experienced and educated your bookkeeper is will depend on their hourly rate. Don’t be afraid to offer a low starting hourly rate with the opportunity to get a significant raise within six months if they prove themselves. If $18 per hour isn’t quite in your budget, consider hiring someone part-time.

Remember, the most important quality you’re looking for when hiring a bookkeeper is honesty, followed closely by experience and/or education.

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