No matter what type of business you’re in, there’s a good chance that you spend a lot of your time on accounting-related activities. From booking receipts to filing taxes, there’s plenty to do, so many entrepreneurs are beginning to hire an accounting virtual assistant for help. This article explores the benefits of hiring an accounting virtual assistant and the best ways to use them in your business.
What is an Accounting Virtual Assistant?
An Accounting virtual assistant is someone responsible for monitoring daily communications and answering questions. It also prepares statutory accounts and works with spreadsheets, sales and purchase ledgers, and journals. Moreover, it records and fills cash transactions and performs other duties. You can hire one from an outsourcing company. Accountants VAs work from home rather than in an office.
7 Reasons why you need to hire an Accounting Virtual Assistant
Accounting can be a time-consuming and expensive process to go through, but nothing is more stressful than handling the job yourself! That’s why here are the 7 better services an Accounting VA can give you and your business.
1. It will provide you with a qualified accountant.
Hiring an in-office accountant will take too much time and effort because you must find someone qualified and trustworthy to do the work. You will need to narrow down each application to choose one. Meanwhile, by hiring an accounting virtual assistant from an outsourcing company, you can meet a highly qualified and better talent pool of accountants.
Outsourcing companies have already sorted out the skilled and competent accountants, so you would not have to worry about it. They will give you an accountant you can trust with your company’s financial records and someone who can do your accounting responsibilities.
2. It will give you access to better financial management.
Your Accounting virtual assistant can fulfill your accounting duties and give you honest and credible work. According to the data published by the 2019 Small Business Finance and HR Report, 86% of small business owners regarded their Accountants as trusted business advisors.
Your VA can provide you with accounting work that includes information on your business’s financial position and presents you with a comprehensive view of your business operations with insights on how to generate more profits in the future.
3. It will secure your financial transactions.
An Accounting Virtual Assistant can guarantee that it will secure the financial transactions and be transparent with it, so you can use it to improve your business process and decision-making. It will consistently track the money going in and out of your company in a methodological and structured manner. This way, you are assured that your financial transactions are accurate and protected. Therefore, having a systemized record will let you have better access to your financial records and make a more informed decision with your business.
4. It will increase your business productivity.
You can do many ways to increase the productivity of your employees, and one thing to do is hire someone with years of expertise in doing the work. When you hire a Virtual Assistant for your accounting department, rest assured that your VA has completed his/her education and has years of training and experience before getting into his/her position.
That’s how outsourcing works; they ensure that the employees they will put available for outsourcing are qualified. They only employ competent accountants. They also undergo intensive training after being evaluated through tests. Accounting VAs work at home, and as stated in a remote study CTrip has conducted with its employees, 13% are more productive when working at home. This has contributed to the work efficiency of the company.
5. It will adequately maintain your files and records.
Accounting Virtual Assistant is carefully selected, and you can work with someone organized and detail-oriented. Your VA will keep your financial records current, making labels based on your business’s daily spending. Likewise, it records purchases with the reconciliation of each transaction. Your Virtual Accountant Assistant will ensure that your accounting records include all asset information, such as its processes, maintenance, and repairs. In this way, everything can be easily verified.
6. It will help you in using accounting software.
You would not have to worry about the proficiency of your Accounting Virtual Assistant in using accounting software. Since they undergo intensive training, they have experience using different software to assist them in fulfilling their duties. An example of software that they are experts in using is Xero bookkeeping. It is a cloud-based accounting software product that allows small-business owners to manage their finances from anywhere and integrates with over 1,000 apps. Compared to other software like QuickBooks, it is less costly and does not charge extra for additional users, making it an affordable option for growing businesses.
7. Hiring an Accounting Virtual Assistant will save you money and time.
Aside from saving you money and time in the hiring process of an in-office accountant, it will also help you to focus on your core instead of doing the work and worrying about accounting tasks. Working on finances requires a lot of time; if you spend time working on this, you might not have time to grow your business.
Hiring an Accounting virtual assistant will save time and money because VAs are only paid by the number of hours worked rather than a set salary. Thus, hiring a Virtual Accountant Assistant will relieve you of the accounting load, allow you to focus on other important tasks, and give you more time to improve your work-life balance.
Prime Outsourcing Accounting Services
An Accounting Virtual Assistant can be a great asset to any business. It can provide various services that can save you time and money. From bookkeeping and invoicing to tax preparation and financial analysis. They can also offer advice on financial planning and budgeting. If you want to improve your business efficiency and bottom line, consider investing in an Accounting Virtual Assistant.
Prime Outsourcing has a team of experienced professionals ready to help you with all your accounting needs. It will provide you with a virtual assistant that will accomplish your financial duties. If you’re looking for someone to help you manage your business finances, you can message us to help you!
Read More here: 7 Best Reasons to Outsource Accounting in the Philippines
