There are many things you should consider when looking into hiring an online bookkeeper. Your online bookkeeper will need access to your secure information to do their jobs, so security should be a top priority that you consider during the selection process. Although predicting cyber fraud is impossible, preventing it is not. Follow these three online bookkeeping security tips to help protect your business.
Tip # 1 - Ask the online bookkeeper about the software they use.
Online bookkeepers use a combination of software for data entry and document management purposes. There are a multitude of products on the market. Spend some time familiarizing yourself with the software the online bookkeeper uses. You do not need to know how to use it, but you should be familiar with the security it provides. Researching the software may seem tedious, but the peace of mind it offers will be priceless in the long run.
At eBookkeeping Solutions, we have a minimum 128-bit encryption requirement for our software vendors. Learn more about the software eBookkeeping Solutions uses by following the links below:
Tip #2 - Register the online bookkeeper for their own credentials to your business accounts.
Online bookkeepers need to have access to your business accounts as an essential requirement for being able to record your financial data and reconcile accounts. Setting up a login strictly for your online bookkeeper is always a safe and smart choice. This ensures any activity they perform is within the restrictions you set. An eBookkeeping Solution's online bookkeeper will never ask for your personal credentials. We always suggest that you supply us with unique, read-only credentials to your business accounts. Be wary of other online bookkeepers who do not follow this practice.
Tip #3 - Confirm they have purchased cyber liability insurance just in case a security incident occurs.
No one wants to deal with the hassles of a security breach. If one does occur, then you need to make sure they will cover the damages. All online bookkeepers should carry errors & omissions (professional liability) insurance at a minimum, but these insurance plans typically do not cover security breaches. Cyber liability insurance specifically covers losses related to data breach and cyber crime. eBookkeeping Solutions carries a $1,000,000 cyber liability policy to protect ourselves and our clients from an unforeseen security incident.
The online bookkeeper you choose to hire will play an important role in maintaining the security of your business financial information. Following these tips when selecting an online bookkeeper will give you peace of mind knowing that you've made an informed and safe decision.