Bringing bookkeeping back in-house a ’win-win’, says consultant
Accounting firms seeking to bring bookkeeping back in-house stand to benefit from closer client relationships and higher quality work, according to a consultant.
Planet Consulting principal consultant Rob Pillans believes firms are moving to bring bookkeeping back as a service offering because of the “poor quality” data received from external bookkeepers.
“One of the frustrations regularly experienced by accountants is the poor quality of data provided to them for quarterly or annual work,” said Mr Pillans.
“Inevitably this slows down the completion of accounts, the lodgement of tax returns, BAS and advisory work. In some cases this leads to significant extra time being spent that the client has not been expecting and is reluctant to pay for.
“Sadly, this situation has often arisen because the bookkeeping is being done by someone who is well intended but out of their depth on some things.”
Instead, Mr Pillans believes bringing bookkeeping back in-house will ensure “bookkeepers have access to much broader and deeper expertise” with accountants, and produce more effective work.
Further, Mr Pillans believes a bookkeeper’s constant and regular interaction with clients on the ground will translate over to a deeper client relationship when the accountant then steps in to review the reports.
“It is a much more tightly integrated relationship and therefore it is less likely that the client will move to another accounting firm,” said Mr Pillans.
“I believe the in-house arrangement delivers the best outcomes for both the client and the accountant.”