As a business owner, your plate is full–overflowing even. You likely wear many hats, and one of those may be a bookkeeper/accounting hat. You’re probably capable of keeping track of accounts payable and receivables, but if you’re like most business owners, it’s not your favorite thing to do. There are probably many other things you’d rather be doing with your time.
Many business owners handle their bookkeeping when they start because it’s manageable. But as your business grows, you may find it takes more time than you’d like. And you didn’t start your business to get bogged down with invoices and bank statements, did you?
Hiring a virtual bookkeeper may be the solution to getting back some of your precious time and peace of mind knowing your books are in order. Let’s explore what virtual bookkeepers do and some benefits of investing in a virtual bookkeeper for your business.
What Does a Virtual Bookkeeper Do?
Virtual bookkeepers are accounting professionals who offer remote accounting services for businesses. They handle the same tasks that a traditional bookkeeper does, such as managing accounts payable and receivable, reconciling bank statements, preparing financial reports, and more – but from a virtual environment. Virtual bookkeepers typically specialize in one or more areas of accounting, such as budgeting, payroll processing, tax filing assistance, QuickBooks setup and management, cash flow analysis and forecasting, inventory tracking and analysis, accounts reconciliations, and more.
By utilizing the remote capabilities of a virtual bookkeeper, businesses can save time and money while still receiving access to high-quality accounting services at a fraction of the cost. But there are many more benefits to working with a virtual bookkeeper or accountant.
Benefits of Hiring a Virtual Bookkeeper
Here are seven reasons why investing in virtual bookkeeping services is a wise decision for your business.
- Save Time
When you outsource your bookkeeping needs, it can free up a significant amount of time for you to focus on other aspects of running your business. Just imagine spending all that extra time focusing on your business and doing what you’re passionate about! Instead of spending hours doing data entry, reconciling accounts, or preparing tax returns yourself, you can leave the work in the hands of a professional.
- Save Money
Sure, it’s an upfront investment to hire a virtual bookkeeper, but consider what you won’t be paying for. You won’t have to pay the salary or benefits of a bookkeeper as an employee or an in-house contractor, which results in considerable savings. Additionally, virtual bookkeepers can often provide flexible pricing structures that may be easier for small businesses or startups to afford. By only paying for the services you need, you’ll pay a fraction of what you might otherwise pay for a full-time bookkeeper.
- Increase Accuracy
Let’s be honest. You do your books to the best of your ability, but unless you have a background in accounting, there are bound to be some errors in your books. Virtual bookkeepers, on the other hand, are highly skilled professionals who specialize in accuracy and efficiency with regard to managing your finances. When you hire a virtual bookkeeper, you can rest assured that the job is performed right every time.
- Maximize Efficiency
With virtual bookkeeping services, your business can work smarter and more efficiently while reducing costs. Virtual bookkeepers use specialized software and platforms to streamline processes and ensure accuracy throughout your finances. The result is reduced errors and improved turnaround times regarding managing accounts receivable, accounts payable, payroll, taxes, and more.
- Access Finances Remotely
With virtual bookkeeping services, you’ll have easy (and secure) access to your financial data from any device with an internet connection. Most virtual bookkeepers use cloud-based accounting software, which means you can access financial information anytime and from anywhere. This way, you can stay up-to-date on your finances and make real-time decisions that affect your business’s bottom line. Virtual bookkeepers also use encryption technology and other security measures to protect sensitive data from cybercriminals, so you can rest easy knowing your financial data is safe.
- Scalable and Flexible Services
Virtual bookkeeping services are often available on a part-time or full-time basis, and you can customize their services to fit your business’s needs at any time. Virtual bookkeeping services can be scaled up or down as your business grows and evolves, making it easier for you to accommodate workflow changes without hiring a full-time employee.
- Peace of Mind
Perhaps the best benefit of using virtual bookkeeping services is peace of mind knowing that someone else is handling the complexities of accounting for your business. You can relax knowing that your finances are in good hands and leave it up to the experts so you can focus on running and growing your business.
Signs You May Need a Virtual Bookkeeper
Are you not paying invoices on time or following up on past-due invoices from clients or customers? If you find yourself missing important deadlines, unable to spot errors in your accounting process, or struggling to keep up with all the paperwork that comes with running a business, it may be time to consider virtual bookkeeping services. A virtual bookkeeper can help take some of the strain off and ensure that your finances stay in order so you can focus on the bigger picture.
Get Virtual Bookkeeping Services for Your Business
Hiring a virtual bookkeeper can be an excellent way for businesses to streamline their finances without hiring an in-house or office-based bookkeeper. With specialized accounting knowledge and the ability to provide virtual accounting services, virtual bookkeepers can help businesses save time and money while still receiving access to quality accounting services. With the right virtual bookkeeper on your side, you can be confident your finances are well taken care of.
At Fournier Accounting & Bookkeeping Services, we’ll focus on your books, so you can focus on growing your business. Get in touch to get started today!