Who are Virtual assistant bookkeepers?

A  Virtual assistant bookkeepers works remotely to manage the financial affairs of a company.

You’ll have a virtual bookkeeper working for your company, but not in your office. They will work remotely and may be self-employed, or they might work for an agency.

What are the benefits of a virtual assistant bookkeeping service?

A business typically hires an accountant solely to manage its finances and do bookkeeping — something that small businesses cannot afford.

Accounting services, for example, can be found at $54,775/year.

A regular bookkeeping assistant for a small business is not worth the cost.

The second option is to use an accounting program.

The Software can speed up the bookkeeping process, but it will require training and time to get used to. Many of them are also expensive.

The third option is to do everything yourself. You’ll find it difficult to manage your finances when running a business. A trained accountant can also help you avoid financial mistakes that you might not have noticed.

Five Key Benefits of Virtual Assistant Bookkeeping Service

The Growth of a firm depends on its cash flow, or more importantly, how it is tracked.
This is how, a virtual assistant for bookkeeping can benefit your business.

1. Improve Finances

Small business owners are 31% more likely to believe that their accountants will be honest and reliable than they think.
It is a relief to have someone honest take care of your money.
But, this someone cannot be only anyone.
A professional with the right expertise and responsibility is needed, such as a virtual assistant for bookkeeping!

2. You can save money

A full-time, in-house Virtual bookkeeper assistant can help you save money.
It’s not possible to save money by doing your own finance work.
How?
You will spend a lot of time managing finances and not have the time to focus on growing your business. This can lead to a loss of productivity that can be very costly in the long term.
Accounting software is not always affordable. However, some have key features that can only be obtained if you invest more.

How about a Virtual Bookkeeper?

Most VAs charge based on hours worked and not a fixed salary.
This is why virtual assistant services are the best solution.

1. You save time
Accounting and finance management are time-consuming tasks

As a small business owner, there are many tasks and processes that you will need to manage.

Contrary to accounting, which can easily be done by anyone and everything else, many business tasks, such as client meetings or product marketing, require your input.

You should think about handing over your financial affairs to a virtual bookkeeper

Bookkeeping VAs take the repetitive accounting work off your shoulders so you can spend more time on important tasks. Additionally, you’ll have more time to do other important tasks and improve your personal life.

Bookkeeping VAs can also be proficient in the most recent accounting systems, which allows them to work faster.

2. Financial Transparency
Financial management can only be achieved by a systematic and organized tracking of the inflows and outflows of money. You need someone to organize and present the data when required.
Virtual accounting services will make sure that your financial data is organized by recording and tracking daily cash flow, and other details so you can access it whenever and wherever you need it.
Once your financial system is in place, you will be able to analyze your finances and better understand your business. This will allow you to make business decisions that can change the course of your life.

3. Higher Productivity
If you hire someone with talent and years of experience, you can easily increase productivity.
Virtual assistants in bookkeeping have unique skills that can help you manage your finances and accounting.

What can a virtual assistant bookkeeper do?

They will manage your company’s finances, remind you to pay bills, and help you calculate taxes.
Virtual assistant bookkeepers are different because they can be accessed remotely, only when you require their services.

They have been trained to:

1. Document Financial Records
Virtual bookkeeping assistants are able to help you with various accounting and bookkeeping tasks such as:

• Balance sheets should be prepared. Create general ledgers.
• Organize financial statements.
• You can manage employee reimbursements.
• Invoice and handle pricing
• You can manage data entry and bank reconciliation.
• Some bookkeeping professionals also suggest changes that can be made to improve the firm’s profitability.

2. How to Pay Bills

Your family and friends may understand when you’re overwhelmed.

This is not true for banks and credit card companies to which you owe money.

If paying bills leaves you with a gap in your pocket, a billing delay will only make it worse!

You can ask your Virtual assistant bookkeepers for help in paying bills on time.

Virtual assistants for bookkeeping will remind you to pay interest on loans, credit cards, or other bills. They will remind you about your utility and payroll bills.

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3. Manage Invoices

Receivables are essential, especially if the business relies on customers’ payments.

Some clients forget to make payments and need someone to remind them. You might not always be able to reach them by phone, mail, or message.

Virtual bookkeeping assistants can mail your customers/clients and remind them to pay their bill. They will keep your business running smoothly!

4. Tax Management

Tax season is a time when business owners fear for their businesses.

Even worse, owners may not be able to calculate taxes and they are unaware of how much they must pay.

What should you look for in a virtual bookkeeping assistant?

Virtual bookkeeping assistants can specialize in different areas of bookkeeping.

You must decide what your company needs are and then hire the best person for the job.

These are some qualities to look for in a virtual assistant for bookkeeping:

1. Industry-specific Experience
The world is not the same as bookkeeping.

It can vary between industries and countries. It varies from one country to another.

2. Trustworthy
It would be obvious to everyone that not all people are reliable.

Many are reckless with cash handling. Some might even be scammers, looking for quick cash.

Therefore, it is important that you only give your financial information to trusted people. This includes a a professional Virtual assistant bookkeepers with a proven track record and positive reviews from industry peers.

3. Tech Savvy
Technology makes everything simple, even bookkeeping.

Virtual assistant bookkeepers are familiar with basic accounting software. However, it is best to hire someone who is up-to-date in the field’s technological advancements.

4. Available
Virtual bookkeeping assistants may have multiple clients, just like you might have more than one client.

You must ensure that the person you hire has a schedule to meet your business requirements.

You will need to notify them in advance so they can book a time slot for you when you require their virtual bookkeeping service.

5. Required Qualifications
It’s your decision whether to hire someone with higher qualifications or not. However, it is important to hire a skilled Virtual assistant bookkeepers.

They should be able to use the most recent accounting software as well as understand complex financial data, just as we mentioned.

How do you manage virtual bookkeeping assistants?.

1. Communication Tools
You can communicate with someone even if you live across the globe with tools such as:

Instant Messaging Tools: , Telegram.
Audio- and video calling tools are Google Duo; Microsoft Team and zoom.
These tools offer many exciting features, including searching, archiving, and deleting, as well as editing messages, file sharing, and file sharing.

Your virtual assistants will be able to collaborate seamlessly with your internal team.

2. Tools for Productivity Management
The next question could be how to manage virtual bookkeeper productivity.

This is where a productivity tool such as Time Doctor could help you.

Time Doctor allows you to:

Keep track of the time it took to complete each task.
Monitor the time that a VA spends browsing websites and using applications.
Automated pay your VAs for hours they have worked with PayPal and Wise (formerly Transferwiseintegrations).

Wrapping up

Hiring an assistant is a great option for any business, especially small and medium.

There are no problems with software or the costs of hiring an accountant full-time.

You can also hire a virtual assistant for bookkeeping, and manage them with the tools we have already covered.