What is a Virtual Bookkeeper?
A virtual bookkeeper is a professional who provides bookkeeping and accounting services to clients remotely. Virtual bookkeepers use cloud-based accounting software to maintain accurate financial records for their clients. This allows them to work from anywhere in the world, as long as they have an internet connection.
Virtual bookkeepers provide a wide range of services, including preparing financial statements, managing accounts payable and receivable, and tracking expenses. They can also help businesses with budgeting, forecasting, and financial planning. Virtual bookkeepers are an essential part of any business that wants to stay organized and efficient. If you’re looking for a cost-effective way to outsource your bookkeeping and accounting needs, virtual bookkeeping may be the right solution for you.
Here are a few benefits you can get when using a Virtual Bookkeeping & Accounting Service.
1. You Get Unbiased Opinion About Your Financials
Many times business owners are too close to their own financials to see the whole picture. This is where a virtual bookkeeper can help you. They will maintain your books on a monthly basis and prepare financial statements for you to review. The key here is that they will have an unbiased opinion about your business financials. This type of service is invaluable to business owners because it gives them an outside perspective of their business.
Another advantage of using a virtual bookkeeper is that they can help you to identify areas where you may be overspending or could save money. They can also offer suggestions on ways to improve your cash flow. Having a virtual bookkeeper on your team will help to ensure that your books are kept in order and that you have someone to turn to for advice when it comes to your finances.
2. Cheaper than in House Employees
As any business owner knows, overhead costs can quickly eat into profits. Hiring a virtual bookkeeper is cheaper than maintaining in-house employees. There is no overhead cost associated with a virtual bookkeeper such as computer hardware, office furniture, or office supplies that would be with an in-house employee. You simply pay only for the time needed to complete your financials. In addition, a virtual bookkeeper can often do the work of two or more in-house employees, making them, even more, cost-effective. If you are looking to save money on your business books, then hiring a virtual bookkeeper is the way to go.
3. Discounts on Accounting Software
Most virtual bookkeeping services will provide top finance management software including things like Bill.com, Dext, and Quickbooks Online. They create professional relationships with these companies and get access to steep discounts a customer can take advantage of. If a customer wanted to pay for these softwares independently, it would cost 40% more in most cases.
4. Team of Expert Professionals
Virtual bookkeepers tend to have a more intimate knowledge of the different industries because they work with many types of business. Not every business is the same, and some have nuances that need a specialist to help. When choosing a virtual bookkeeper to partner with, make sure they have the understanding and experience in your industry to get the most out of their services.
5. You Have Less Stress
Virtual bookkeepers can save you a lot of time and stress. Rather than keeping track of your finances yourself and worrying that it’s not right, hire an expert to make sure your finances are in order. This leaves you free to focus on other aspects of your business. Remember, virtual bookkeepers will be efficient in getting your books prepared for your CPA so they can file your taxes correctly. Having clean books can lead to more savings!
Did You Know?
Virtual Bookkeeping & Accounting Services are tax-deductible!
There are many benefits to hiring a virtual bookkeeper. They can provide you with an unbiased opinion about your financials, help you to identify areas where you may be overspending, and offer suggestions on ways to improve your cash flow. In addition, virtual bookkeepers can be cheaper than maintaining in-house employees and often have more experience because they work with a variety of businesses. If you’re looking for a stress-free way to manage your finances, consider hiring a virtual bookkeeper today.
Looking for virtual bookkeeping & accounting services? Schedule a free consultation phone call with Koda Bookkeeping today! We can help you get started with your bookkeeping and accounting needs.