LJM Bookkeeping Ltd - Offering an ACE service
Misconceptions of Bookkeepers and Accountants
Why do we continue stereotyping people due to their career choice? Yes of course it takes a certain type of person to be a Bookkeeper or an Accountant, or even a builder for that matter! But that doesn’t mean you should make assumptions on a person's characteristics and social traits solely based on what they do for a living.
So here is the truth about misconceptions when it comes to Bookkeepers and Accountants...
“People who work in Finance are boring”
This is one I hear a lot, more than I want to admit! Yes bookkeepers love numbers and enjoy problem solving and it takes a special kind of someone to get to the bottom of reconciliation problems.
Then comes the assumption that because bookkeepers enjoy number crunching they mustn't have very good communication skills and lack the ability to socialise. Believe it or not a major part of a bookkeeper's role is communication. They need the ability to communicate with their clients in order to problem solve and chase for outstanding paperwork. A bond needs to be made between a bookkeeper and their client based on trust and understanding, so people skills are definitely one thing a Bookkeeper doesn’t lack!
Beneath all of that problem solving is someone who can’t wait to let their hair down just like me! I have a passion for golf and love to socialise with friends. There’s more to life after the numbers!
“Bookkeepers are Old Fashioned”
The earliest evidence of double entry bookkeeping dates back to 1299, that is indeed a fact! Since then Bookkeeping has developed from strength to strength. You only need to look at the latest software and the vast amount of it, to realise that a good bookkeeper needs to be on the ball with technology. They have to keep up to date with ever changing software to ensure that they are running their business as efficiently as possible. Here at LJM Bookkeeping we are always on the lookout for new software to streamline our Bookkeeping methods to ensure we are Accurate, Consistent and Efficient in order to implement our Accounting Eco System to grow with your changing business needs.
“Bookkeepers aren’t needed for small businesses”
Bookkeeping is essential for all businesses, in fact it’s a legal requirement to keep a track of your business income and outgoings, whether or not you do the books yourself or you employ or outsource to a bookkeeper. The misconception of a one-man band not requiring the services of a bookkeeper is quite worrying. A Sole Trader who is working alone, often does not have the time to ensure they are keeping a log of all their transactions and then when it comes to Self Assessment day it can be a stressful time to get all the information required in order to meet the deadline. It can also be hard to get your head around what you can and can’t claim for. It’s often much easier to hand the bookkeeping over to a professional meaning that your time invested into your business is more profitable. A bookkeeper can also help with forecasting and budgeting to ensure that you stay on track of your finances.
The majority of bookkeepers deal with a large variety of clients from Sole Traders to million pound Limited Companies. No company is the same and the bookkeeping needs to be adapted to the needs of each business. Now you just need to find the right bookkeeper! Get in touch with us to discuss your requirements.
“You only need to talk to your bookkeeper once a year”
Definitely not! Your bookkeeper needs to be kept in the loop and understand the requirements of your business. Regular contact is vital to ensure that there are no discrepancies in your bookkeeping, and that any issues can be resolved quickly. Your Bookkeeper is your ‘go to’ for advice and will be completely impartial.
“Bookkeepers and Accountants are expensive”
It is right that Bookkeepers and Accountants are the ones to go to for money advice and they know everything about your cash flow, but that doesn’t mean they will rip you off. It’s the complete opposite, a professional bookkeeper will offer you advice to ensure that your money stretches as far as possible. If your business is a success that’s a reflection on us, we enjoy seeing your business thrive and grow and we do our best to help you save money.
If you need to free up time for your business and need someone who will focus on (ACE) Accuracy, Continuity and Efficiency, adapting to the needs of your growing business with the introduction of an accounting ‘eco system’ then get in touch, we would love to help!
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Contact Us
office@ljmbookkeeping.co.uk
01733 602492
LJM Bookkeeping Ltd - Company number: 13698252
Registered Address: Suite 330, 4 Blenheim Court, Peppercorn Close, Peterborough, PE1 2DU
