There are a handful of non-negotiables. Here are three outsourced bookkeeping firm qualities that give you the best chance of success.

Ensure Compliance: Find a provider with expertise in nonprofit accounting to maintain compliance with financial reporting and funder requirements. The accounting firm should also understand the tax implications of its bookkeeping work. In addition, the firm's competency will help ensure the outside financial audit goes well.

Improve Accuracy and Timeliness: Set a goal to receive consistent, error-free financial reports on a reliable schedule. Consistent financial reports will allow for better understanding and accountability, reducing the likelihood of errors and potential fraud. Consistent work is key when comparing results in each period.

Enhance Financial Transparency: Choose a provider to help produce clear, detailed reports for donors, board members, and stakeholders. Receiving accounting-compliant reports is good unless those reports are too challenging to understand. The bookkeeping firm should be able to prepare both compliant and valuable reports. These reports are internal and intended to improve the organization's management. The audit report will take care of public fiscal compliance.

Indeed, other important factors when hiring an outsourced bookkeeping firm include whether they are pleasant to work with, communicate clearly and often, and are proactive. Compliance, accuracy, and transparency are the non-negotiables for success.