What Questions Should You Ask Your Bookkeeper?

If you have a bookkeeper, that’s a great start. They’re the ones keeping your finances steady and making sure you don’t miss any deadlines or have a cash crisis. But here’s the question: are you asking them the right questions to get the most out of them?

Here are some key questions you should be asking your bookkeeper to keep your business on the right track.

1. How is my cashflow looking?

Cash flow is the lifeblood of your business. You might think you’re doing well because money is coming in, but if it’s not balanced against what’s going out, you could be in trouble.

Why this question matters

Your bookkeeper has real-time insights into your cash flow. They can tell you whether you’re operating in the green, which months are tight, and whether you’ve got enough reserves to handle unexpected costs.

Follow-up tip

Ask them to help you set up a cash flow forecast. This will give you a clear view of your future, helping you plan for growth or spot potential problems before they happen.

2. Are there any cost saving opportunities?

Your bookkeeper spends their days deep in your numbers, which means they’re perfectly positioned to spot areas where you might be overspending.

Why this question matters

Bookkeepers can identify unnecessary expenses, suggest smarter ways to manage subscriptions, or flag suppliers charging more than they should. These small tweaks can lead to big savings over time.

Follow-up tip

Ask your bookkeeper if they’ve noticed trends or expenses that stand out. For example, are certain costs creeping up month after month?

3. Are my books ready for HMRC?

Nobody wants to be scrambling for receipts and invoices when tax deadlines roll around. Your bookkeeper is your first line of defence against a last-minute panic.

Why this question matters

A good bookkeeper ensures your records are accurate, organised, and compliant with HMRC requirements. By asking this question regularly, you’ll avoid surprises and penalties.

Follow-up tip

Ask if there are any additional tax-saving strategies you could take advantage of, such as claiming allowable expenses or improving your VAT efficiency.

4. What financial trends should I be aware of?

Your financial records hold a wealth of insights. The problem is, many business owners don’t dig into them.

Why this question matters

Your bookkeeper can help you spot trends like seasonal dips in sales, rising costs, or customers who consistently pay late. Armed with this information, you can make better business decisions.

Follow-up tip

Ask them to prepare a report or dashboard that gives you a clear snapshot of your financial performance every month or quarter.

5. Is my business on track to meet its goals?

Whether it’s growing revenue, cutting costs, or saving for expansion, you’ve probably got some big goals for your business. Your bookkeeper can help you measure your progress.

Why this question matters

Bookkeepers have the data to show whether your business is moving in the right direction or falling short. They can also offer suggestions to help you course-correct if needed.

Follow-up tip

Share your goals with your bookkeeper, and ask them to create specific financial KPIs (Key Performance Indicators) to track your progress.

Your bookkeeper isn’t just a behind-the-scenes number cruncher. They can help you understand your business finances and make informed decisions. By asking the right questions, you’ll use their full potential and get a clearer view of your finances.

So, the next time you sit down with your bookkeeper, don’t just ask for a report—ask them for their insights. And if you’re not sure where to start, just refer back to these questions. You’ll be amazed at what you can learn!