Virtual assistant bookkeeping services are becoming more and more prevalent in the world of small-business accounting, to the point where meeting clients in person is starting to become more of an anomaly. In fact, I doubt I’ll ever really meet the majority of my clientele.
Trusting a virtual service with your books may be challenging, and selecting the right provider can be even more challenging. I’ll walk you through my virtual accounting process to make the process easier for you and explain what to look for in these services so you can choose the best option for you.
What Do Virtual Assistant Bookkeeping Services Include?
Let’s look at the tasks that virtual assistant bookkeeping services can help you with.
A virtual assistant bookkeeper can help you with QuickBooks management by following the below-mentioned tasks:
- Updating the books of accounts regularly
- Setting up reminders to receive payment
- Similarly, setting reminders for making payments
Data entry is the most time-consuming and hectic task, so it’s better that you leave that job to a virtual assistant bookkeeper and let them assist you with the following:
- Recording every transaction accurately
- Classifying the transitions into the ledger correctly
- Summarizing the records precisely
- Maintain proper documentation for financial transactions
MANAGEMENT OF ACCOUNTS PAYABLE
Here are the tasks a virtual bookkeeper will follow in order to manage your accounts payable:
- Generate purchase order
- Vendor management
- Invoice management
- Manage all the expenses
- Make sure for timely payments of invoices
MANAGEMENT OF ACCOUNT RECEIVABLES
An accounting virtual assistant can help you with due payments, filing claims, and other activities such as:
- Creating invoices
- Maintaining the records of customers
- Track all the collections
- Create provisions
- Debit/Credit notes
An affordable bookkeeping virtual assistant can help you in ensuring no errors, comparing records, and perform a few other reconciliation tasks, such as:
- Vendor payment reconciliations
- Bank reconciliations
- Credit card reconciliations
PREPARE FINANCIAL STATEMENTS
Here are some services that a virtual bookkeeper can do to prepare your financial statements:
- Balance sheet
- Cash flow statement
- Income statements
How Does A Virtual Assistant Bookkeeper Work?
The responsibilities of a traditional bookkeeper are similar to those of virtual bookkeeping services. But rather than working from an office, they do it from their homes or coworking spaces. They are more adaptable to their work schedules than typical bookkeepers because of the freedom this affords them.
Since the majority of the papers are handled by the accounting software and the virtual bookkeepers sign a non-disclosure agreement before they start working, security is not an issue.
A virtual bookkeeper may help you with a variety of activities, such as maintaining QuickBooks, issuing invoices, and entering data, including managing accounts payable & receivable.
Why Do You Need A Virtual Assistant For Bookkeeping
If you hire a virtual accountant, there are many benefits you can take advantage of, especially as a startup or small business. Businesses often lack the skills needed to run their accounts and keep on top of their financial situation. Employing a virtual accounting assistant may benefit organizations in a variety of ways, such as assuring accuracy and keeping your accounts current, and managing cash flow. The advantages of hiring a virtual bookkeeper are highlighted by Virtual Assistant.
Maintenance Of Financial Records
Virtual accounting assistant handles all your business finances. Owners won’t have to worry about misplacing invoices and receipts anymore since a virtual bookkeeper will assist them in putting the technology in place. Additionally, they always pay their staff members appropriately and on schedule. We make sure you have a functional system in place that records all outputs and revenues.
More Time To Focus On Your Business Activities
Small business owners sometimes do all bookkeeping duties individually, which can take a lot of time. You may free up a lot of time to focus on other important tasks by having a professional handle the bookkeeping for you. You won’t have to worry about anything financially since your virtual bookkeeping helper will handle it all for you.
Pay Just For The Work You Require
For businesses, hiring virtual bookkeeping assistance is frequently a far more economical option. Instead of frequently, you could just require help a few times per month. Together with your virtual assistant, you may schedule the necessary times. If circumstances change, these are adaptable and simple to adjust.
Keep An Eye On Your KPI’s
You’ll always be aware of your company’s financial situation if you have a virtual bookkeeper. They keep track of all your financial data, so you can easily see if you or your clients have any debts or if there are any upcoming obligations. You can simply keep track of all the financial components of your firm if you have a well-constructed cash flow statement, income statement, and financial report.
You Get Access to Financial Software
A virtual bookkeeper manages and monitors your finances using cutting-edge technology. In addition to using powerful financial software, they will teach you how to utilize it and interpret the data. They will be at your side at every stage, so you won’t even need to be an expert.
By now, you know how a virtual assistant for accountants can benefit your business and why you should hire one. Here is a very simple process to hire a bookkeeper online.
If you are running a business and want to hire bookkeepers online.
- Know The Areas In Which You Need Assistance With Bookkeeping
Identify the task that your business might need help with. This will enable you to choose a VA that is specialized in those areas that will make an optimal investment for your business.
- List the regular bookkeeping duties that your office has.
- List the tasks that your team is presently managing.
- Make a note of the jobs or places that need support or knowledge.
- Schedule A Free Consultation With Us
Schedule a free consultation today and talk to the experts to know what will be the best for your business. Also, make sure to mention your expectations, such as:
- Skill level
- Working hours you expect the VA to work
- List of tasks you want the bookkeeper to complete
- Prepare To Welcome Your Online Bookkeeping Assistant
Your virtual accounting help will join you in approximately 24 hours. Spend a few days staying in touch and communicating with them to clear up any doubts or questions they may have and to inform them of the procedures.
- How to Find Net Income
- Owners Equity
- IRS Form 1065
- How to File Back Taxes with and Without Records
- LLC Tax Filing Deadline
Frequently Asked Questions On Virtual Assistant Bookkeeping Services
Virtual assistant bookkeepers create written documents and electronic financial data in order to document actions, serve as a source of reference, communicate information, and adhere to established financial, legal, and administrative standards.
What Are Virtual Bookkeeping Services & What Is Virtual Bookkeeping? Virtual bookkeepers do regular financial activities, including recording transactions, balancing bank and credit card accounts, and processing payroll, much like conventional on-site bookkeepers.
When compared to hiring an in-house bookkeeper, the top virtual accounting services only cost between $200 and $400 per month, saving $34,000 annually. When considering the cost, bear in mind that bookkeeping offers a significant return on investment.
A virtual bookkeeper manages your books remotely; they might not even be in the same time zone as you. Bookkeeping software manages all correspondence and storage of financial documents. Your online bookkeeper organizes your transactions into categories and creates financial reports for your company.