Better in Pairs: How Bookkeepers and Accountants Serve Businesses in Canada
For an accountant, there’s no better sidekick to have than a bookkeeper. The reverse is true as well. If you don’t yet have a Robin to your Batman, it might be time for you to seek the perfect match.
To elaborate on this, I recently sat down with Tom Natsikas, QuickBooks® Guru and Founder of CloudAccountants and Owner/Mastermind at MTL Accounting, to get his thoughts on why it’s better to work together in pairs. He shared the following with me:
Accountants and bookkeepers handle different aspects of a company’s financials. Bookkeepers handle the day-to-day financial management and accountants offer valuable insight into the business’ financial strategic planning. It might not seem like it, but these roles are two sides of the same coin. One side relies on the other to properly manage a business’ financials.
Offer more value when pitching your business prospects because, in this case, two types of financial professionals is better than one, says Natsikas.
Efficiency is a crucial measurement for every business, and with two financial professionals on the case, this means more help and support for your clients.
During tax season, accountants may find themselves knee-deep in the weeds, but with a partner, this does not have to impact the level of support you offer. “If a business owner is looking for information about their financials and the accountant isn’t available, the bookkeeper can step in,” says Natsikas. “Faster help and support could lead to more clients for both.”
Raising Your Reputation
Handling the books is no easy feat, and being able to bring another trustworthy professional to the table boosts your reputation.
When you can present a solid partnership between yourself and another bookkeeper or accountant, it demonstrates another level of professionalism that makes you and your business more appealing, whether it’s to lenders, stakeholders or investors, says Natsikas.
More Checks and Balances
Two pairs of eyes are always better than one when it comes to financials.
With two financial experts at the table, businesses will feel more at ease that your partnership will provide better protection against errors, omissions, penalties, thefts and audits, says Natsikas. This doesn’t mean both sides always have to agree from the get-go, but at least there are more heads at the table analyzing and providing solutions to the same issue.
How else have you benefited from partnering with an accountant or a bookkeeper?