These days, more businesses are turning to remote bookkeeping services due to technological advancement. For some businesses however, the concept of hiring a virtual bookkeeper is new and terrifying, while for others it simply won’t work.
Over the past decade, a shift has occurred within the accounting and bookkeeping industries and the terms “virtual” and “cloud” have become buzz words. Consequently, more bookkeeping experts are turning to technology to make their companies more effective and competitive.
Virtual bookkeeping enables a bookkeeper or accountant to offer accounting services remotely and you can expect these benefits.
Cost Savings
You’ll be able to locate a bookkeeper who will save you considerable money over an in-house bookkeeper. You’ll discover that most remote bookkeepers provide part-time services that meet your business’s needs.
Additionally, they’ll be contract workers, so you won’t need to worry about paying vacation time, payroll taxes, and other benefits. You’ll also notice savings because a virtual bookkeeper will typically offer affordable costs.
No Resources or Time Wasted
Virtual bookkeeping services don’t take place in a physical office, so you won’t waste time or resources on hiring new personnel. You won’t waste time and money on accounting and administrative expenses as well, so you’ll save considerably.
It’s a fact that when you employ a new worker in your company, you’ll spend time inducting the person and you’ll also need to locate an office for the person to work in. Keeping account books isn’t an easy task.
However, a virtual bookkeeper can assist you by preparing your payrolls, helping with activities related to cash management, and preparing financial statements.
The Addition of a Professional to the Team
Virtual bookkeepers usually spend their day doing bookkeeping tasks and competing for new business for various companies. This implies that they’ll recognize the outs and ins of the business and will work to improve their skills to maintain a competitive edge in their field. Furthermore, they constantly acquire new knowledge and identify best practices, which they can apply to their work.
The Latest Tools
Whenever you assume a new in-house responsibility at your company, there’s the need to bring the requisite technology and tools to accomplish the task.
On the other hand, when you hire a virtual bookkeeper, he or she is responsible for offering the essential software and updating everything. This means you’ll have one less set of processes and systems to worry about.
Focus on Your Business Operations
The biggest advantage of using a remote service is that you can concentrate on operating your business and enable somebody else to manage the bookkeeping.
Knowing that a trusted service is taking care of your bookkeeping will give you the needed peace of mind, which will permit you to focus on your business 100%. You’ll also have access to updated financial reports whenever you need them. Updated and precise financial statements are important because they’ll help you make vital business decisions.
Team Access
If you employ a conventional bookkeeper, you’ll experience the challenge of locating somebody who’s the appropriate fit. The last thing you want is to overpay for somebody who’s too senior but at the same time, you want somebody who will be able to handle the essential tasks as your business continues to develop.
When you employ a virtual team, you’ll obtain support from individuals who represent different expertise areas and experience levels, implying that they’ll identify the best-suited team members for the task you need completing.
Availability
If you employ a virtual bookkeeper, you’ll find that they’re very available and accessible with their scheduling. While they may not have particular office hours, you’ll find that they provide continuous customer support.
Final Thoughts
Virtual or remote bookkeeping services aren’t for all businesses. However, the services can be useful in several ways. If you’re still not sure if hiring a virtual bookkeeper is the right choice for your business, you can schedule a complimentary consultation with one of our Business Development Specialists who can help you determine if virtual bookkeeping services is a good fit for your business.
