As we move further into the internet age, many aspects of business are becoming digitised. One such area is how businesses handle their bookkeeping requirements. There is increasing popularity and a shift towards cloud-based accounting systems and shareable online spreadsheets. This has created a growing movement from employing a traditional bookkeeper, to a hiring virtual bookkeeper.
What is a Virtual Bookkeeper?
Essentially, a virtual bookkeeper does everything that a traditional onsite bookkeeper does – but just remotely.
So all of those tricky, time consuming and sometimes confusing accounting tasks that you would traditionally delegate to an onsite bookkeeper (such as posting transactions, bank reconciliation, tax returns, accruals, preparing financial reports etc), are able to be taken care of by a virtual bookkeeper too.
A virtual bookkeeper may support one or more clients, and communicate through email, chat, phone or video calls. They may work as an independent contractor or under the umbrella of an agency.
Virtual vs Onsite Bookkeeper
What are the reasons to hire a virtual bookkeeper over a traditional onsite bookkeeper?
Traditional onsite bookkeepers require precious desk space and office equipment. Not to mention all the expense and time associated with hiring a fixed staff member for your business.
Virtual bookkeepers provide the exact same services as an onsite bookkeeper while also giving greater flexibility and autonomy:
Easy set-up: Virtual bookkeepers only require access to your virtual accounting records – whether that is an account on your cloud-based accounting software or sharing your Google Docs spreadsheet with them. Most banks allow you to download PDF statements. Or you may be able to set up an online banking log in for your virtual bookkeeper. After the initial set up, your virtual bookkeeper should have all the information they need to work on your accounts.
Flexibility: This is a major drawcard of virtual bookkeepers. Because they work remotely, virtual bookkeepers are typically able to fit in with the requirements for your business. Maybe you need 10 hours a month. Or maybe you only require extra accounting expertise at the end of financial year. You can hire a virtual bookkeeper as required.
Save on resources: With a virtual bookkeeper you don’t have to worry about finding office space, computers or equipment for them to use. And you also save on staff costs that would be incurred with employing a traditional onsite bookkeeper – such as sick leave pay, employee benefits and recruitment costs.
With a virtual bookkeeper, you get all the benefits of having a dedicated bookkeeping expert looking after your accounts. All with greater flexibility, ease and less costs than if you were using a traditional onsite bookkeeper. This means freeing up precious resources that can be used to focus on growing your business instead.
Hire a Virtual Bookkeeper
At Designated Bookkeeping, our team have many years of experience and can come in and take charge of a small business’ finance function relieving owners and managers of time & stress to concentrate on their business. In addition, we can also come in to larger organisation’s finance team to assist at busy periods.
If you want us to connect your with one of our brilliant bookkeepers, speak to Hilary on 0207 952 1460 or email email@example.com
Author Olivia Neveu – PA, Accountant & Bookkeeper at Designated PA