A bookkeeper is someone who helps to organise and keep track of a business's financial records. They make sure that all of the paperwork is in order and up to date, and they can also help to provide strategic advice about how to best run the venture. They are increasingly working remotely, which allows businesses to optimise their resources and maintain control over their finances. Hiring a virtual bookkeeper is a great way to take advantage of this trend.
Basically, What Are Virtual Bookkeepers?
A virtual bookkeeper can help take care of your bookkeeping needs anywhere in the world, anytime. They are typically self-employed and work freelance, meaning they can choose their own hours and work from anywhere with an internet connection. Virtual bookkeepers usually use cloud-based software such as QuickBooks or Xero to do the actual bookkeeping and Zoom or Google Docs for meetings and consultations with clients.
Working with a bookkeeping service is the most efficient way to stay on top of your finances. You will have a team of professionals who can use software and platforms to track your finances and keep you updated.
The Main Reasons to Rely on Virtual Bookkeepers
Working with a virtual bookkeeper is a lot like working with a traditional bookkeeper, except that everything is done online. This means that you can communicate with your bookkeeper via email, chat, or video call, and they can access your financial records from anywhere in the world. That said, below are a few more reasons to rely on them while you are running your venture.
1. They Help Improve Your Financial Reports
A virtual bookkeeper can help take your business to the next level by providing accurate and timely financial reports. They can work with you to ensure that your books are reconciled, and transactions are monitored. This will allow you to prepare your payroll and tax filing on time. In addition, a virtual bookkeeper can generate customised reports to help you understand your financial items.
2. They Help Minimise Errors in Your Books
Virtual bookkeepers use accounting software to manage their clients' finances. This software allows them to automate many tasks, such as retrieving financial reports and checking for errors. This automation leads to more accurate and timely financial reporting.
3. They Help Minimise Your Tax Liability
A virtual bookkeeper can help you save money on your taxes by keeping track of your receipts, payments, and bank statements. By using cloud-based software, they can quickly update and organise your information. This way, you can claim the business deductions you're entitled to and reduce your tax liability.
4. They Help You Save Time and Money
Hiring an in-house bookkeeper can be costly, as you have to consider factors such as salary, insurance, and paid time off. A virtual bookkeeper would be less expensive, as you would only pay for the services rendered. Virtual bookkeepers can help you save time and money.
Virtual bookkeepers are a great solution for businesses because they are easy to communicate with, have established processes, and are not limited to a physical location.
The benefits of having a virtual bookkeeper are many and varied, but some of the most important ones include saving money on office space and overhead costs, being able to work with bookkeepers from anywhere in the world, and having access to the latest bookkeeping software.
If you're thinking of starting or expanding your business, then you should definitely consider hiring a virtual bookkeeper. Not only will they save you money, but they'll also help you keep on top of your finances and free up your time so that you can focus on other aspects of your business.
If you are looking for well-trusted accountants for online businesses, look no further than our experts here at The ECommerce Accountant. We are your most-trusted business advisors for online stores and influencers. Call us today and let our experienced virtual bookkeepers tend to your numbers in no time!