Benefits of Remote Bookkeeping
If you don’t have a physical business, your business is online, or you just aren’t sure that you want to bring in a physical bookkeeper to your office, a virtual bookkeeper can be a great option. Virtual bookkeeping allows your bookkeeper to handle your finances remotely, which can be beneficial for both the business and the bookkeeper! Here is what it’s like to work with a virtual bookkeeper, and some of the benefits of remote bookkeeping.
What is a virtual bookkeeper?
A virtual bookkeeper is someone who will handle your bookkeeping remotely. You may communicate with them over the phone, video, or email, but you won’t see them in person at all or rarely. You share your financial info with them using software, but they still provide all of the usual bookkeeping tasks for you.
How does it work?
When working with a virtual bookkeeper, it can vary from each bookkeeper. However, most of them will follow a similar process and set up. First, the business owner will grant access to the bookkeeper to let them see financial documents, software, and accounts. We recommend using QuickBooks Online as it makes for a smooth collaboration and allows the business owner and bookkeeper to be working on the file at the same time. But depending on the agreement, the client may need to purchase the software and register it. However, most communication and exchanging of files is done through the software of choice.
The bookkeeper is paid based on the arranged terms. If the bookkeeper is an independent contractor, they will invoice the business, and the business owner will pay based on the payment policy agreement.
Benefits for the employer
There are many benefits of hiring a virtual bookkeeper in terms of both flexibility and savings! Virtual bookkeepers don’t require office space, or supplies from the business owner, saving them a lot of money on rent overhead, materials and supplies. Many virtual bookkeepers also have flexible hours and can do as much or as little as the business needs. This is ideal for a business where the needs fluctuate or for new business owners.
Benefits for the bookkeeper
The benefits of this type of arrangement also applies to the bookkeepers who decide to work from home, or virtually. Schedule flexibility is one of the top reasons, which can be ideal for work-at-home parents or those looking to have multiple clients at once. Virtual bookkeepers can also benefit from not paying for commutes, gas, or even business attire if they choose. This results in less overhead for them and less fees for you the business owner! Virtual bookkeepers can also set their hours to work in different time zones or even different countries.
What it’s like to work with a virtual bookkeeper?
Working with a virtual bookkeeper might sound scary, but it’s not so different from having someone in person in reality. You communicate over emails or phone calls, or video calls if required. Most communication of documents and financial data is done through software, which you would see whenever you’d like.
By hiring a virtual bookkeeper, you can save on the cost of having to hire an employee. However, you can still enjoy all of the benefits of having a virtual bookkeeper at your disposal! Many virtual bookkeepers work as independent contractors or freelancers, so you don’t need to worry about handling taxes or benefits.
Virtual bookkeepers are just as attentive as in staff bookkeepers and can offer the same benefits without the added price tag.
As you can see, there are many pros of working with a virtual bookkeeper. While this might not work well for every business, don’t discount the possibility of having a bookkeeper even if they’re not there in person! Virtual bookkeepers can offer the same benefits of having someone in-house.