Your Must-Have Bookkeeper Collaboration Checklist

Your Must-Have Bookkeeper Collaboration Checklist

As a business owner, are you finding yourself navigating your finances like you’re caught in a detective show, constantly hunting for clues and nearly solving the puzzle, only to find there’s always ‘just one more thing’ you don’t know?


It’s OK, Columbo. Ceterus is here to help.


We understand the stress that comes with being a franchise owner or running a small business. And we’ve got your back when it comes to making your bookkeeping less of a chore.


That’s why we’ve written this comprehensive checklist to make working with a bookkeeper a cakewalk. Whether you’re already part of the Ceterus family or are thinking about joining us, this guide is all about helping you make the most of your bookkeeping services and achieve the best results.


Maintain Clear Communication


Start off by prioritizing communication! That means thoroughly expressing your business goals, financial targets, and expectations with your bookkeeper. This will help your bookkeeper to align their services with your needs effectively.


Setting up reliable channels of communication will keep everyone on the same page and help avoid any unnecessary delays or misunderstandings.


Remember, any delay can cost you money and may lead to inaccuracies or missed deadlines. So, put a system in place where your bookkeeper receives all the vital information they need, preferably before they even need to ask for it.


Pro Tip! Designate a main contact person within your business for your bookkeeper and have a backup ready if necessary.


Perform Regular Financial Check-ins


Another essential practice that goes hand in hand with maintaining clear communication is scheduling regular check-ins with your bookkeeper. These meetings are crucial for discussing your financial performance, setting or reassessing goals, and strategizing about upcoming financial decisions.


At Ceterus, we understand the importance of these regular interactions. Our Financial Controllers (FCs) are readily available to connect through video calls, text, or phone calls, whenever you need them. With our cloud-based platform, Ceterus Edge, scheduling a call with your FC is just a click away. So, in case you need to connect with your FC sooner than your scheduled meeting date, you can easily find a convenient time without navigating to another screen while reviewing your financial data. During these check-ins, our FCs play a vital role in ensuring strong financial management.


You can utilize this time to do the following:

  • Answer Your Burning Bookkeeping Questions: Our FCs are prepared to answer any questions you may have, providing clarity on your financials and aiding in informed decision-making.
  • Financial Overview & Benchmarking: Together, you and your FC can review your financial reports, examine for any discrepancies or unusual trends, and see how you’re stacking up against what’s happening in the industry. This collaborative review allows for a better understanding of your business’s financial health.


Understand Your Financial Statements


Many franchise or small business owners like you believe the myth that their business’s financial statements are beyond their comprehension. That’s not true at all.


Start familiarizing yourself with your financial reports and statements, such as balance sheets, income statements, and cash flow statements, in order to set yourself up for success.


  • Balance Sheet: This is your company’s financial snapshot, revealing assets, liabilities, and shareholders’ investments at a specific point in time. It’s a valuable tool for calculating return rates, analyzing your capital structure, and assessing your business’s financial health.
  • Income Statements: AKA profit and loss statements, provide a comprehensive overview of your company’s financial performance during a specific time period. They include information on income, expenses, gains, and losses.
  • Cash Flow Statements: Display the inflow and outflow of money in a business over a specific period. It provides information about your business’s financial stability and the direction of cash flow.


At Ceterus, we’re committed to ensuring you’re not just receiving timely and accurate reports, but also fully understanding them. Our team is here to guide you through each statement, breaking down complex financial data into understandable insights. We’ll answer any questions you may have and make sure you’re comfortable interpreting the financial data related to your business.


Regularly Reconcile Accounts


Maintaining accurate financial records is essential for managing your business. It gives you a clear understanding of your current financial status and helps you anticipate future cash flow movements, making your financial planning more effective and reliable.


Typically, one way to ensure accuracy is to work closely with your bookkeeper to regularly reconcile all your financial accounts, including bank accounts and credit cards.


This involves comparing your internal financial records with your bank statements to identify any inconsistencies or discrepancies. Not only will this process confirm the accuracy of your financial records, but it will also help in detecting potential fraudulent activities or errors early on. You’ll want to quickly spot any irregularities such as:

  • Unrecorded transactions
  • Double entries
  • Or unauthorized withdrawals.


This will help you take action, protect your business’s finances, and prevent losses.


Embrace Technology


Streamline your bookkeeping processes by leveraging technology. Bookkeeping services like Ceterus that utilize automation can save time, reduce errors, and provide timely insights. Having instant access to your business financials can empower you to make informed decisions swiftly.


This is where Ceterus differentiates itself from other bookkeeping services, and it comes down to our one-of-a-kind software – Ceterus Edge.


Ceterus Edge offers a complete view of your financial performance at your fingertips anytime, anywhere. With it, we’ll provide you with brand-compliant financial statements and timely transaction updates so you always have the most accurate information.


But that’s not all. You’ll also gain access to peer benchmarking, which allows you to compare your business performance against industry standards.


For business owners operating multiple units, our multi-unit reporting feature provides a consolidated view of your financials across all units. Our cash flow projection tool also helps you anticipate future cash needs and plan accordingly.


Ceterus As Your Partner


At Ceterus, we recognize the challenges business owners face when it comes to bookkeeping. The myriad of tasks involved can be overwhelming and detract from your primary focus – growing your business. That’s where we step in.


We offer tech-enabled bookkeeping services and tax preparation that can help small business owners and franchisees manage their finances more effectively.


With Ceterus, you can expect:

  • Brand-compliant financial statements
  • Timely transaction updates
  • Peer benchmarking
  • Ongoing tax advisory services
  • Multi-unit reporting
  • Cash flow projection
  • Dedicated financial consultations


Don’t shoulder the burden of financial management alone. Let Ceterus handle the complexities of bookkeeping so you can concentrate on what you do best—running your business. Schedule a consultation with us today!

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