As technology advances more businesses are considering using a remote bookkeeping service. Just twenty years ago, you probably choose your bookkeeper or accountant from a listing of people and businesses in your metro area, perhaps even out of the phone book. Today, it doesn’t really matter where your bookkeeping service is physically located, as long as he or she is available to communicate and complete tasks on your schedule.
For some businesses, the idea of a virtual bookkeeper is new and scary, while for others remote bookkeeping truly just won’t work. For those small businesses that entertain the idea of outsourced bookkeeping they soon realize the benefits of using a virtual bookkeeping service. But are there benefits to you, as a business owner, choosing a bookkeeper in another state? It may surprise you to learn that the answer is yes.
How it Works
First and foremost, your company must grant the outsourced bookkeeping service access to your financial information, such as bank and credit card statements, payroll, tax documents, receipts, online bills, and anything else that deals with your small business’s finances.
It is important to set mutual expectations with your small business bookkeeping service. Do you expect him/her to work every day? What info do you want at the end of each month? How often would your team like to communicate? Since working remotely can be different from working in person, it is essential both teams are on the same page. Distance shouldn’t hinder an online bookkeeper’s usefulness in any way and communication is key to a successful partnership.
- Work With the Best: What if you run your business in an area that isn’t saturated with specialized bookkeepers, or local shops are to busy to take you on? Almost every industry has its own specific accounting requirements, whether those have to do with collecting sales tax, paying other specialized taxes, keeping an inventory, managing cash flow during a long sales cycle, and a myriad of other possibilities. By broadening your search geographically, your options are almost limitless. Depending on how important it is for you to work with someone in your own time zone, you can expand your search as far away as needed to find the best fit for your needs.
- Well-Versed in the Latest Accounting Technologies: Since a remote bookkeeper works with clients on the cloud, it is critical for them to be up to date on the latest technology. He or she will have established tools and processes for communicating with you, sharing information securely, and collaborating with your books. Many small business bookkeeping services have cloud accountants that can help clients troubleshoot any tech-related issues, and have a representative to answer questions anytime.
- Save Time and Get Better Insights: When you work with a remote bookkeeper, there is no travel, no scheduling someone to come into your office, no missed meetings due to conflicts and no waiting for monthly meetings to get things done. When you’re growing your small business, you need accounting and bookkeeping that happens in real-time, and that’s exactly what will happen when working with small business bookkeeping services.
- Documents Stay Safe and Secure in the Cloud: Physically, your data can never be lost due to a storm, theft, hardware malfunction, or another damaging event that could wipe out paper records or cause you to lose information stored on a hard drive. The security of online information is also virtual. Data stored on the cloud is backed up, fully encrypted and accessible from any device you choose to login with the proper credentials. Software often has many layers of security to protect your data, including two-step authentication and data encryption. With the help of passwords, you control who on your team has access to what pieces of information.
- No Headaches No Hassles: Not only can remote bookkeeping services make your life easier, but they can also offer real-time insights to help you make proactive decisions and grow your business. Although remote or virtual bookkeeping services are not for every business, they can be beneficial in many ways. You may find that a virtual bookkeeping service can offer you better service at a better price and your bottom line will love the change.
Limitless Investment and Capital’s Outsourced Bookkeeping Services & Virtual CPAs
Finances don’t have to be overwhelming. Money is complicated, especially in 2021. Rules change, regulations shift, and keeping up becomes a full-time job. Not to mention all of the work required to track expenses, accounts payable, and any other financial transaction in your organization. Money makes things happen, but managing it isn’t easy. Especially when you don’t have a strong bookkeeper internally to manage it for you.
At Limitless Investment and Capital, we believe you deserve highly qualified financial experts to support your organization. That’s why our Virtual Bookkeepers are leading experts in finances, ensuring everything is correct, updated, and understandable. Whether you’re a startup, small business or we have the right people ready to help. Talk to our team today, and never lose sleep over a budget spreadsheet again.