It's Time For A Book Keeper

[Luke Carl]

Hello! It's time for a book keeper. We have 3 sides to the business. Sales, Short Term Rentals and Long Term Rentals. Any advice on how to find a book keeper and what questions to ask and what to look out for? Thanks!!

[Janet Behm]

It is not so much the questions you should ask, but if the bookkeeper is knowledgeable, they should ask you, “Which type of entity/entities you have?’

For example: There are 4 main types of LLC's. Each one is taxed differently.

They should ask you if you are using an accounting/bookkeeping software “Are you currently using a bookkeeping software?”  If you are, you want to know how familiar they are with your brand.  However, do not be put off if they suggest switching to another provider.  They may have great success and can work magic with some other brand.

Are they capable of working with both cloud and desktop software?  The cloud makes it much easier for bookkeepers and your tax preparer to access your records.  Again, saving time and $. However, they should be able to start with “where you are”.

Ask them to provide you with a sample, spread-sheet, balance sheet, a cash report, and a profit and loss.  The balance sheet is the MOST IMPORTANT.  If the balance sheet is correct, you know that EVERYTHING is accounted for.  The prospective bookkeeper should be COMPLETELY at ease with your request, or that is raising a big red flag.

This is a very exciting time in the growth of your business!  Good Luck.

Janet Behm, EA 

Utah Real Estate Accountants