Bookkeeping is a crucial part of your business, but it’s something that many business owners are hesitant to do. This especially applies to small businesses and solo entrepreneurs who do not have a team of bookkeeping professionals at their disposal. It is necessary when operating a business. You can use it to organize your finances and prepare for future tax returns. If you’re looking for an extra boost in your business and want it to run smoother, look no further than a Bookkeeping Virtual Assistant!
What is a Bookkeeping Virtual Assistant?
A Virtual Bookkeeping Assistant is an independent professional contractor who manages the company’s offshore finances. It works bookkeeping tasks for your business from home or an offshore office, and not from your office. They are usually self-employed or working for an outsourcing agency.
Bookkeeping Virtual Assistant Job Responsibilities
Is there a difference in the job responsibilities between an in-office bookkeeper and a bookkeeping virtual assistant? There isn’t much except for a VA will work online for you, but here are the duties of Bookkeeping VA you should take note of:
- It ensures that your company’s bills are paid on time.
- It creates a balance sheet or income statement.
- It reconciles your company’s bank and credit card statements.
- It arranges invoices and general ledgers.
- It creates invoices for the customers. It also sends customer payment reminders and follow-ups through phone calls or emails.
- It keeps track of your company’s financial data in the software application of your choice.
- It Enters data on accounts Payable and accounts Receivable.
- It reports and submits tax sales.
- It assists the accountant in preparing financial statements and interpreting them.
- It processes delinquent accounts.
10 Convenient Perks You Will Get from a Virtual Assistant Bookkeeper
Here are the ten advantages of having a VA bookkeeper in your company:
1. You can focus more on core functions in your company
Bookkeeping is a critical back office task that sacrifices itself for more core functionality to handle. Initially, you will be responsible for this. However, choosing an outsourced bookkeeping service is a better option as your business moves forward. Instead of stressing about the financial management of your company, hiring a VA bookkeeper can help you focus on the most significant matter of growing your business.
2. Work with a Certified and Trained VA Bookkeeper
Looking for a proficient bookkeeper is extra work for your company, which requires effort, time, and money. Determining who among your applicants is qualified enough to handle your financial data would also be hard. But with outsourcing a VA bookkeeper, things will get easier.
An outsourcing company will provide you with a talent pool of Bookkeepers with accomplished educational backgrounds, competent experiences, and skill sets.
3. Monitor the cash flow of your business
One of the main benefits of outsourcing bookkeeping is keeping your books clean and organized record book. Your Virtual Assistant will also help you track receipts, record accounts payable and receivable, and manage quarterly tax returns.
4. Get payment updates
Tracking your company’s payment will also be easier because you can give her access to manage your accounts payable and vendor invoices. Your VA can check the active balance of your account online and help you manage it in running your business.
5. Make your income sources organize
It is paramount that you organize your source of income into different accounts. However, this task is a quiet handful, but having a virtual assistant who is proficient in bookkeeping can assist you. An efficient VA is familiar with one or two small business accounting software that can track all transactions.
It is vital to note that organization is the basis of a stable financial management system.
6. Oversee your company’s KPIs
Your bookkeeper can help you familiarize yourself with your company’s financial situation. The VA will send an online report about your business’s cash flow statement, income statement, and payment schedule.
From this, you will be able to know if your business’s key performance indicators (KPIs) are successful in achieving your business objectives.
7. It’s cost-effective for your company
Having an offshore bookkeeper can save you more money. You will be able to save money by not having to spend on office space and supplies needed for work. Your bookkeeper has her computer or devices that she will use to attend to your company’s bookkeeping tasks.
8. Your VA Bookkeeper is managed and monitored
Having a Bookkeeping Virtual Assistant from an Outsourcing company will ensure that the bookkeeping services you are getting are monitored. There will be a project manager who will supervise your VA’s work, which will give you an adequate and efficient outcome.
9. Assist you in handling legal and regulatory concerns
Reading pages of a document about the laws that your company should follow can be difficult at times. This will require time and familiarization with legal terms. Your bookkeeper can help you keep up with changing tax laws, rules, and regulations.
10. More time for your personal life
Aside from having more time to grow your business, outsourcing a bookkeeper will also give you time for your personal life. It will lessen your work and provide a more efficient time to use and spend.
When you work with a Virtual Bookkeeper Assistant, you will have more time to focus on your business. As long as you have a team member who is highly skilled in bookkeeping and accounting tasks, there’s no need to devote any time to the tedious routine of maintaining your financial statements. You can take care of many business-related details, including taxes, through your virtual assistant support. A virtual assistant simply saves you time and energy which would be better spent doing what truly matters—building your business.
Prime Outsourcing Bookkeeping Services
As a business owner, you may have a lot of work on your plate, but you can save yourself the headaches of dealing with the day-to-day operations of running a business. Hiring a virtual assistant or outsourced bookkeeper might be the best solution for some small business owners.
You deserve more than a mediocre accounting firm. You deserve the best. Prime Outsourcing is the premier provider of outsourced services to businesses just like yours. Our staff of experts will handle all of your accounting needs and ensure that you stay in line with all federal and state tax laws. Save time and reduce costs by outsourcing a Virtual Bookkeeper Assistant to Prime Outsourcing without sacrificing accuracy and attention to detail. Hire now!
Read More Here: 6 Best Benefits of Outsourcing Bookkeeping in the Philippines
