White Collar Consultants Limited

So much more than tax

01952 780 220

accounts@wcc-ltd.co.uk

Are you getting what you pay for? Cont…

10/02/2015

This post is a continuation from the introduction run on the 3rd February 2015.

Here are some tips and pointers to help those who run their own business ensure that they are getting what they pay for when hiring a professional to do your bookkeeping and accounts:
1. Make sure you have access

You have paid a lot of money for the accounting software package of your choice, so why not use it. If you already don’t have access, ask your bookkeeper to create a login for you. Don’t be afraid as long as you just look and don’t save you can’t break it.
2. The clue is in the name

Have you heard of the term trial balance well this is the heart of your accounts and without this feature running properly (BALANCING) your accounting software cannot function correctly.
Go to the reports section of your software after using your new login and print a trial balance report.

All you need to do is look at the two column totals and they should balance see the picture below.

If they don’t balance THERE IS A BIG PROBLEM. Phone your bookkeeper up immediately and make sure that they are aware of this problem.If you are not sure you are welcome to used the Contact Us section on this site and we will be happy to help you with this matter.

If they are any good they should check this themselves at least once a month.

I have seen cases where clients have had to pay large amounts of money to have corrupt data re-entered into their accounting software packages because non-balancing trial balances where left as is.

Trial Balance

Keep your eye on this site next week for the next couple of pointers in the meantime use your login and have a look around.

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