Accounting Ethics and What This Could Mean for Your Business

Accounting Ethics and What This Could Mean for Your Business

It can take a significant amount of trust to seek a bookkeeper to help your business. Not only must you as the business owner evaluate their skills as a bookkeeper, but their integrity as a person. Your bookkeeper will work in and out of all your business accounts and has access to confidential information. You need to build some trust with your bookkeeper in order for your time together to go smoothly and swiftly. We want to discuss some accounting ethics and what this could mean for your business.

Being Detail Oriented

Part of being a successful bookkeeper is working fast while maintaining a high level of detail. If you are not able to be detail-oriented, you can easily make mistakes causing significant effects on your business’s books. The bookkeeper’s job is to own their mistakes and focus hard to resolve the error; no one else is to blame.

Honesty and Integrity

Part of being detail oriented and alleviating mistakes is also owning up to them when they happen. A lot of your relationship with your bookkeeper is based on trust, and if they cannot maintain that intention, then a new bookkeeper may be necessary. Your bookkeeper needs to be straightforward and not slant any advice they give you to take the appropriate steps for your business to be more successful.

Confidentiality

Yes, everyone has those moments where they want to talk about the work they spent their day doing. This is not acceptable for your bookkeeper to do. Since they see your business’s deep inner workings, it is very unprofessional to be sharing that information with people outside of you or the accountant. Sharing this information can have damaging effects both for your business and the bookkeeper. You should sign an engagement and confidentiality agreement at the start of your work together.

Professionalism

Professionalism can extend to anyone in any industry. For a bookkeeper, this has never been truer. Bookkeepers work behind the scenes of many different businesses. Like hiring an employee, you should ask for references and recommendations.

Your bookkeeper deals with some of the rawest activity of a business and must uphold the law. While these things may seem like common sense, you must be sure you are vetting the potential bookkeeper you consider hiring for your business. A breach of trust could have damaging and lasting effects on your business. Being sure the bookkeeper you hire matches your business’s moral standards, and overall environment can help make your relationship with them easier.