Davao Bookkeeping Services Firm: Your Partner In Growing Your Business

Many business owners in Davao City area, especially small-scale companies and/or startups, are hesitant to employ a bookkeeping services firm. Why? They feel it is an unnecessary cost or they are uncomfortable giving confidential information to an outside party. After all, they’re small and just  starting. In addition, they can find plenty of good accounting software for them to do the bookkeeping themselves. They believe that by NOT hiring a bookkeeper, it saves them money.

While all are valid reasons, what they are missing is the fact that bookkeepers are valuable assets of a company. Those that hire their services will surely have an edge over those that do not. This fact might be overlooked by most business owners but in the long run, they will find bookkeepers to be a very essential key in the growth of one’s business.

Below are important aspects related to bookkeeping and how important it is in the success of your business. Let’s tackle these points one by one:

  • The Bookkeepers Role and Functions
  • Tips When Hiring a Bookkeeper
  • Finding the Right Bookkeeping Services

The Bookkeepers Role and Functions in Your Business

Certified Bookkeeper Davao

What services can you expect from a bookkeeper? How can they help your business grow?

Having an adequate experience in the accounting and finance industry, a bookkeeper’s main responsibility is to organize and keep track of the company expenditures or payments so there is transparency  and accuracy when it comes to the accounts and financial undertakings.

Below are some of the many tasks a bookkeeper does each day.

  • Balancing your accounts
  • Prepare or set up invoicing system
  • Process sales invoices, payments and receipts
  • Prepare cash flow statements
  • Prepare the profit and loss statement/balance sheets for the annual accounts
  • Pay bills promptly
  • Complete VAT returns
  • Check company bank statements
  • Financial paperwork and filing accounts
  • Provides guidance in making risky decisions
  • Advise on necessary amendments related to bookkeeping
  • Also does payroll duties.

All these responsibilities of a bookkeeper help keep the business going. Moreover, it also helps increase the credibility of a business. Without someone to keep track of your business transactions, can your business thrive and grow? How would you know if you’re standing on solid ground?

Important TIPS You Should Know Before Hiring a Davao Bookkeeping Company

Double+Entry+Bookkeeping+DavaoAre you considering hiring  bookkeeping services for your small business in Davao City area?

While a bookkeeper is beneficial to your business, you must be wary about whom to hire. Employing a bookkeeper or an accounting company can be a strenuous task and must require a lot of patience. To help you with this painstaking process, here are tips that can help you find the right person or company for the job easily.

Look for someone who:

  • Has accounting/bookkeeping expertise – They should have a basic understanding of what bookkeeping involves, including the use of bookkeeping software. It is more important to pay a higher salary for a qualified and experienced accountant or bookkeeper than saving money and hiring a less experienced one.
  • Knows and understands your industry – Hiring an experienced bookkeeper may be a great advantage but without a knowledge about the industry, he or she can make or break your business.
  • Has the ability to communicate –  The person or company you hire must  not only be great in numbers BUT he or she must also be able to explain to you what these numbers mean. Furthermore, he or she must also be able to identify problems with regards to your financial records and offer solutions.

How to Find the Right Bookkeeping Services in Davao City?

Bookkeeping Services in Davao City PhilippinesThere are a lot of bookkeeping companies in Davao City that offers a wide range of services that finding the right one can be very confusing and difficult. How can you be sure that a Davao accounting company provides good bookkeeping services?

1. Start by finding local bookkeepers. Ask recommendations from your lawyer or friends and relatives or go online. Most of the established local auditing firms already have websites so you can check them out.

2. When you have your list of them, do a background check-up. Check academic history, credentials, and experiences. This can be very daunting, but this is a must.

3. When you have narrowed down your choices according to your qualifications and standards, ask questions from the previous customers about the bookkeeper or the accounting firms’ performance.

4.  Don’t try to hire a bookkeeping service during the tax paying season. You might just end up with the wrong one because you are in a hurry. Again, carefully choose the right one who you think is more than willing to help your company grow.

To sum it all, a professional bookkeeping company offers services that will help you get an accurate idea of how your Davao-based business is doing and where you stand. They’re not just there to keep the books–they’re there to partner you in growing your business.



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