What is Virtual Bookkeeping?
Virtual bookkeeping is a process to remotely handle the daily financial tasks of the business by an accounting expert. These tasks include reporting transactions, accounts payable and receivable, reconciliation of bank and credit card accounts, invoices and receipts management, handling payroll, etc.
Why you need a Virtual Assistant for Bookkeeping?
If you consider hiring a VA for your bookkeeping tasks, the person must provide accurate, reliable, comprehensive, and timely work.
The main difference is that an in-house bookkeeper needs to be present in your office to perform the tasks, while a virtual bookkeeper manages everything remotely using cloud-based software. As VA will use cloud-based software to manage your bookkeeping task, you can access your records and reports anytime being safe and secure.
You can hire a virtual bookkeeper as a full-time or part-time or outsource your work to a bookkeeping service provider. If you outsource a bookkeeping service with an agency, you will get the advantages of working with specialists and the ability to cover extra accounting and bookkeeping tasks depending on the situation.
Virtual bookkeeping is a good match for the organizations that are willing to go paperless and use cloud software to replace the requirement for physical paper invoices and receipts.
Bookkeeping is not an easy task, and it takes a lot of time and effort to manage it accurately. Thus, businesses find these tasks are difficult and time-consuming. A virtual bookkeeper is a best-fit option here to manage these tasks cost-effectively.
The main reason for outsourcing bookkeeping work is getting the time for yourself or the staff to focus on other core activities. And most important money saver too.
Who should use Virtual Bookkeeping Services?
Because of a huge pool of professionals available in the market, any business owner or entrepreneur will find virtual bookkeeping a suitable alternative to in-house services.
- Small businesses –
A small business does not need a full-time employee to handle bookkeeping tasks as it is not advisable for them to afford employees with the required skills at affordable costs. Instead, hire a virtual assistant and pay them only for the work you required.
- Businesses growing rapidly –
Increases in numbers of customers and financial transactions create the complexity and support hours to handle bookkeeping. When you work with the bookkeeping service agency, their team probably has the bandwidth to take on additional work as and when you need it.
- Businesses with uncommon business models –
It can be difficult to find somebody with the right bookkeeping experience who lives nearby to your working environment, especially if your business has an unconventional business model or is part of a specialized industry. In this case, you work with a virtual bookkeeping provider who has experience with your specific bookkeeping needs.
- Businesses operating in multiple locations –
When the business has multiple workspaces, in-house bookkeeping professionals are not an efficient solution. Having a single bookkeeper who works for each workplace means time wasted traveling and hiring a bookkeeper for each location is also a major expense. On the other hand, a virtual assistant handle work for all the locations remotely and you can see a complete picture of how your business is performing.
Accounting and bookkeeping are an important part of any business but also complex and require time and specific skills. Without having proper knowledge for bookkeeping there might occur many errors and it leads to a decrease the business performance.
Aardenco is a reliable bookkeeping service provider for small to high-sized businesses. Check our outsourcing services and connect with us for more information.