One response

1. Ensuring your Bookkeeping business runs efficiently is key to maintaining profitability and client satisfaction. Hiring a contract bookkeeper can indeed help manage your workload, but it’s important to assess their performance to ensure they’re contributing positively to your business. Here’s a detailed guide on how to evaluate if your bookkeeper is taking too long and what to do if they are:

   Evaluate Performance

   1. Industry Standards for Time Spent:

      • On average, basic Bookkeeping tasks such as data entry, bank reconciliations, and payroll can take a few hours per client per week, depending on the complexity and volume of transactions.
      • Annual tax preparation can take significantly longer due to its complexity. However, spending over 80 hours on a single annual file might be excessive unless the file is extraordinarily complicated. Industry standards often suggest anywhere from 20-40 hours for annual reconciliations for small to medium businesses.

   2. Track Time Spent:

      • Use time-tracking software to get an accurate picture of how long specific tasks take. This can help identify areas where your bookkeeper is spending too much time.
      • Compare these times against standardized times if available, or against your own past performance and industry benchmarks.

   3. Quality vs. Quantity:

      • Ensure the work being done is accurate and free of errors. Sometimes increased time may be justified by higher accuracy and thoroughness.
      • Regularly review completed work to check for repeated errors or issues that could indicate a lack of understanding or experience.

   Communication and Feedback

   1. Regular Check-ins:

      • Schedule regular one-on-one meetings to discuss progress, obstacles, and provide constructive feedback.
      • Express concerns over productivity in specific terms and discuss any recurring issues.

   2. Identify Obstacles:

      • Ask your bookkeeper if there are particular tasks they find challenging. This could be an indication for additional training or a misunderstanding that needs clarification.
      • Evaluate if the remote setup could be hindering performance due to lack of direct support or resource accessibility.

   Training and Support

   1. Provide Training:

      • If certain skills or procedures are causing delays, offer additional training sessions to help develop these areas.
      • Consider pairing them with more experienced personnel, if possible, for mentorship.

   2. Resource Accessibility:

      • Ensure they have access to all necessary software, tools, and documentation needed to perform their job efficiently.
      • Check

   Log in to Reply