If you own a small business, it is likely you have thought about hiring a virtual bookkeeper. Outsourcing is very common nowadays, and virtual help is often preferable to hiring full-time staff.
But what exactly does a virtual bookkeeper do? And are remote employees the best option for your business?
Here is everything you need to know about hiring a virtual bookkeeper.
The Role Of A Virtual Bookkeeper
A virtual bookkeeper is a remote employee who provides accounting services to businesses. They normally work from home and set their own hours, and many work part time for several businesses (rather than full time for one business).
Most virtual bookkeepers provide the same services as an in-house accountant would. They will record all financial transactions in a log book, and they will process all of the businesses financial paperwork. They will also provide you with annual financial statements for the tax year.
Nowadays virtual bookkeeping is very common. This is because remote work is on the rise – and also many businesses simply don’t require a full time accountant. A remote, part-time accountant is more than enough for most start-ups!
1. Reasons To Hire A Virtual Bookkeeper: Reduced Costs
There are lots of good reasons to hire a virtual bookkeeper, and one of the most important reasons is reduced costs. A recent study found that in-house accountants can cost over $4,000 a month, while remote accountants normally cost $500 to $2,500 a month. This is ideal for small businesses and startups with a tight budget.
2. A Lower Chance Of Cash Flow Problems
Another benefit of hiring a virtual accountant is that they will reduce the chances of your business experiencing cash flow problems. Even if you were great at maths in school, it is likely that you don’t have the time to make sure every accounting task is done correctly. In fact, this is a big issue for many businesses; a recent study found that over 80% of startups fail because of cash flow problems.
So if you want to protect your business from financial disaster, a virtual bookkeeper can definitely help!
3. More Time For Other Tasks
Outsourcing work to a remote employee gives you more free time to focus on other important tasks. For instance, you can spend more time managing and training your employees to help your business grow! And the extra free time doesn’t have to be dedicated to your business; you can spend more time with your loved ones, or you simply use it to get a little more sleep!
How to Hire a Virtual Bookkeeper
Do you think a virtual bookkeeper is a good option for your business? If so, we have good news; it should be fairly easy to find a remote bookkeeper who suit your needs and your budget. We connect businesses with experienced, professional remote employees who provide both part-time and full-time services. So get in touch today to find out more about how we can help you.1