Why You Need a Bookkeeping Virtual Assistant for Your Business
Are you looking for ways to streamline the bookkeeping process for your business? A bookkeeping virtual assistant could be just what you need.
In this post, we’ll explain why a bookkeeping virtual assistant is beneficial to your productivity and how to find and hire the right one for your business.
What is a Bookkeeping Virtual Assistant?
Just like a virtual assistant provides general administration services remotely, a bookkeeping virtual assistant is an experienced professional who specialises in providing remote bookkeeping services to businesses.
They help to keep financial records organised, up-to-date, and accurate. They often work with accounting software and other technology to automate processes, such as invoice generation, bank reconciliations, and payroll.
With the help of a bookkeeping virtual assistant, businesses can save time and money while ensuring their financial records remain in order.
Why Do You Need a Bookkeeping Virtual Assistant?
There are several reasons why your business should consider hiring a bookkeeping virtual assistant.
First, it will save you time. If you’re running a business, chances are that you don’t have the time or energy to keep up with your finances, on top of ALL the other plates you have spinning in the air.
A bookkeeping virtual assistant can take care of all your financial tasks so that you can focus on the more important aspects of running your business.
You know, the parts you’re passionate about and deserve more of your time.
Second, it will help keep your finances organised. A bookkeeping virtual assistant can help ensure that your financial records are accurate and up-to-date so that there are no discrepancies in your books.
This will help make tax filing much easier and less stressful for you.
Finally, using virtual assistant bookkeeping can help make sure that all payments are made on time, which is essential for good customer relations and avoiding late fees or penalties.
What Qualities and Skills Do Bookkeeping Virtual Assistants Need to Have?
Virtual bookkeeping assistants must have a reliable attitude and strong computer skills. It’s helpful for them to have at least a high school diploma or equivalent, and at least some experience in bookkeeping or accounting.
Communication is a key attribute for virtual assistants; they must be able to effectively articulate their ideas and understand the needs of their clients.
Additionally, a bookkeeping virtual assistant should have an understanding of the accounting process, including data entry, budgeting, and financial reporting.
By having these qualities and skills, bookkeeping virtual assistants can ensure that their clients receive top-notch bookkeeping services.
What Accounting Software and Apps Do Virtual Assistant Bookkeepers Use?
Virtual assistant bookkeepers use a variety of accounting software and other technology tools to manage their client’s financial records and transactions.
Some of the most commonly used software and tools include:
- QuickBooks: QuickBooks is a popular accounting software that many virtual assistant bookkeepers use to manage financial records, track expenses and income, create invoices, and generate reports.
- Xero: Xero is another popular cloud-based accounting software that is commonly used by bookkeeping virtual assistants. It offers similar features to QuickBooks, including invoicing, bank reconciliation, and financial reporting.
- FreshBooks: FreshBooks is a cloud-based accounting software that is ideal for small business owners and freelancers. It includes features such as time tracking, invoicing, expense tracking, and project management.
- Wave: Wave is a free cloud-based accounting software that includes features such as invoicing, accounting, and receipt scanning.
- Google Suite: Many virtual bookkeepers use Google Suite tools such as Google Drive, Google Sheets, and Google Docs to manage their client’s financial records and documents.
- Dropbox: Dropbox is a cloud-based storage solution that is commonly used by virtual assistant bookkeepers to store and share financial records and other important documents.
Overall, the specific software and technology tools used by virtual assistant bookkeepers will depend on their client’s needs and preferences, as well as the virtual bookkeeper’s own expertise and experience with different platforms.
How to Manage Virtual Bookkeeping Assistants
With several types of cloud-based software available today, managing your bookkeeping virtual assistant is a piece of cake.
Here are some tools to help you get started right away:
1. Communication Tools
Communicating with a person even if they are on the other side of the world can be done quickly with tools like:
- Instant Messaging tools: Slack, Telegram
- Scheduling tools: Calendly, Google Calendar
- Audio and video calling tools: Google Meet, Microsoft Teams, Zoom.
These tools have excellent features that support searching, archiving, deleting and, editing messages, file sharing, etc.
This way, your virtual assistants can collaborate with your in-house team with total ease.
2. Productivity Management tools
You might also want to think about how to manage the productivity of the virtual bookkeeper.
Productivity management tools can help you here, they are used for tracking time and boosting team productivity in SMBs.
With these tools, you can:
- Track the exact amount of time spent on each task.
- Monitor the time a bookkeeping assistant spends on websites and applications.
- Automatically pay your virtual assistants for hours worked with Paypal and Wise (formerly Transferwise) integrations.
Here are some productivity management tools that you can use to manage your virtual assistant bookkeeper:
- Trello – a project management tool that allows you to create boards, lists, and cards to organize and track your bookkeeping tasks.
- Asana – a team collaboration and task management tool that allows you to assign tasks, track progress, and communicate with your virtual assistant bookkeeper.
- Google Drive – a cloud storage and file-sharing platform that allows you to share and collaborate on files and documents with your virtual assistant bookkeeper.
- LastPass – a password manager that allows you to securely share login credentials with your virtual assistant bookkeeper for the various bookkeeping software and accounts that you use.
- Hubstaff – a time tracking tool that allows you to track your virtual assistant bookkeeper’s hours and activity to ensure that you’re getting the most value for your investment.
- QuickBooks Online – a cloud-based accounting software that allows you to manage your bookkeeping tasks, track expenses, and generate financial reports in one place.
- Xero – a cloud-based accounting software that allows you to manage your bookkeeping tasks, track expenses, and generate financial reports in one place.
Here’s What You Can Do with a Virtual Assistant Bookkeeping Service
Using virtual assistant bookkeeping services is an excellent way for small business owners to save on costs while still keeping their finances in order.
By partnering with a virtual bookkeeping service, businesses can take advantage of cloud accounting software and grant their bookkeeper access to bank statements, receipts, and invoices.
This allows the virtual bookkeeper to perform tasks such as:
- Categorising expenses
- Reconciling accounts
- Organising statements
- Recording financial transactions and other reports
These tasks can be done remotely and updated monthly with accurate reports sent to the business owner.
Additionally, a virtual bookkeeping assistant can also provide insights on financial strategies that can help improve the business’s bottom line.
Ultimately, by having a bookkeeping assistant, businesses can rest assured knowing their finances are in good hands.
How to Find and Hire a Virtual Bookkeeping Assistant
When searching for a virtual bookkeeper, it’s important to find someone experienced in working with accounting software and other technology.
It’s also important to make sure they have experience working with businesses in your industry so that they understand the specific needs of your business.
The best way to find a qualified virtual bookkeeper is by using online resources such as job boards or freelancing websites like Upwork or Freelancer.
You can also ask your network of colleagues or contacts if they know anyone who they’d recommend to provide these services.
Once you’ve identified potential candidates, be sure to read reviews and check their references before making a decision.
Wrapping Up Why You Need a Bookkeeping Virtual Assistant for Your Business
Hiring a bookkeeping virtual assistant can be extremely beneficial for any business looking to streamline its financial processes.
With the help of an experienced bookkeeping virtual assistant, businesses can save time, money, and stress when it comes to managing their finances.
If you’re looking for ways to improve your financial processes and free up time in your day, hiring a virtual bookkeeper could be the winning solution for you.
FAQs About Virtual Bookkeeping Services
Q: What Are Virtual Bookkeeping Services?
A: Virtual bookkeeping services are remote services which provide businesses with accurate, reliable and time-saving bookkeeping services. Virtual bookkeeping services are provided by certified professionals who use specialized software to manage the financial transactions of a business.
Q: What Are the Benefits of Using Virtual Bookkeeping Services?
A: There are many benefits of using virtual bookkeeping services. Firstly, virtual bookkeeping services provide businesses with accuracy and reliability, as well as saving you time. Virtual bookkeeping services also offer great customer service at an affordable price. Additionally, experienced Advanced Certified QuickBooks Online ProAdvisors can provide remote bookkeeping for small service-based businesses.
Q: What Are Some Popular Virtual Bookkeeping Services?
A: Popular virtual bookkeeping services include Bookkeeper360, Merritt Bookkeeping, Bench Accounting, Pilot and QuickBooks Live. Bench is a popular choice for small businesses due to its affordable monthly fee and its ability to provide both bookkeeping and tax services.
Q: How Do I Get Started With a Bookkeeping Virtual Assistant?
A: Getting started with a virtual assistant bookkeeper is easy. Simply contact the service you’re interested in and they will provide you with all the information you need to get started. You will then be able to give them access to your financial documents and bookkeeping software so that they can begin their work.
Until next time 🙂
Your Friendly, Neighbourhood WorkOnlineSlayer.