Not so long ago, everything that pertains to accounting services was dealt with within the company’s accounting department or in our accountant’s office. Then business owners started to outsource to an accounting firm or even hire a freelance accountant in the case of smaller businesses. As technology continued to advance and business needs and approaches similarly evolved, virtual accounting became the new accounting that needs business owners’ solution.
Virtual accounting firm bookkeepers and accountants do the same things that on-site accountants or accountants from physical firms do. The main difference is that with virtual accountants, all transactions are, well, virtual. Correspondence is usually via email or calls; meetings and discussions are generally via video calls or virtual meetings. From the tracking of financial transactions to maintaining records and even to tax planning and running of payroll, the services are the same, or as we would say, even better.
Why Outsource Bookkeeping to Virtual Accounting Firms?
So you have probably given virtual accounting a thought; perhaps, you are even considering giving it a try. Also, you still may have some doubts about it; after all, you have done well enough with traditional accounting. Let us help you see the myriad of virtual accounting benefits and allow us to assist you in making a great business move.
First of all, let us point out that the number of successful virtual accounting firms has dramatically increased these past few years. That alone is a sign that many people, private individuals, and business owners alike have been enlightened with the advantages of virtual accounting. Now, let us help you realize those advantages too.
- Virtual accounting firms could offer the same services that traditional firms offer at a significantly lower fee. We have lower overhead, and we are only passing it on to our clients, so you get the same high-quality services at a much lower cost. Now, if you used to have in-house accountants and bookkeepers, opting for virtual accountants would also save you costs on paper and printing, office furniture, and other supplies, as well as employee wages and benefits.
- Data retention is more efficient and convenient since virtual accounting firms only keep digital copies of our clients. If and when they need to, we, or our clients, could easily access, say, documentations on tax returns. We no longer need to retain physical copies of such documents.
- Our client’s data, particularly sensitive ones like financial information, are more secured. We make use of cloud storage systems that are heavily encrypted as well aa heavily backed up. This is undoubtedly much safer than filing cabinets or office computer systems.
- We make use of communication technology to bridge distance gaps. We work meetings around your schedule and your time zone for maximum convenience.
Anything that traditional accounting firms can do, virtual accounting can do too. We also have the added advantage of technology that defies time zones and bridges distance. Giving your business the benefits of virtual accounting could be the jumpstart you need towards the success you have always wanted.