When you started your business, did you consider all of the accounting you’d be doing? Sure, you had some thoughts on what it takes to run a business; but once you dive deeper into running your business, you realize that there are a lot of pieces to the accounting puzzle.
Accounting is a crucial part of running your business and takes dedication and focus to ensure that it is entirely accurate, without error.
It’s time to stop drowning in a sea of accounting information and hire a virtual bookkeeper.
5 Reasons to Hire a Virtual Bookkeeper
Why should you hire a virtual bookkeeper? We will let you decide for yourself if it’s beneficial after reading about just five reasons to hire a virtual bookkeeper.
Reason 1: Cost-Effective
Hiring a virtual bookkeeper to care for your bookkeeping needs is more cost-effective than hiring an in-house bookkeeper.
Virtual bookkeeping is 100% online and, in most cases, paperless as well (we’ve been 100% paperless for over a decade)! Long gone are the days of printing spreadsheets and putting pen to paper to figure out your accounting!
Since your virtual bookkeeper is contracted and not an employee, you will not need to provide:
- Insurance
- An office
- Computer
- Any other related costs that come with hiring an in-house employee
You also don’t have to commit to a part-time or full-time employee.
Reason 2: Experienced and Certified
We mentioned above that accounting takes focus and understanding. Virtual bookkeepers are trained and experienced in all aspects of the job and can manage your virtual bookkeeping as effectively and efficiently as possible.
The more knowledgeable your virtual bookkeeper is about your business and industry, the better! They can become significant assets to your business because they understand the inner workings of the accounting and bookkeeping processes.
Reason 3: Accurate
Accuracy is necessary when it comes to managing your virtual bookkeeping and accounting tasks.
Platforms like QuickBooks Online, Expensify, and Bill.com can help create a more accurate accounting experience for your business, but it takes an expert to help keep everything accurate.
Virtual Bookkeepers are focused on one task: your virtual bookkeeping.
This helps to ensure thoughtful processes are utilized that lead to accurate reporting.
Do you have hours a day to dedicate to your bookkeeping to make sure everything is done accurately? Probably not… because if you’re spending that much time on accounting tasks, you’re limiting the amount of time you spend building your business!
Bookkeepers will:
- Reconcile your bank and credit card accounts
- Review bank and credit card accounts
- Analyze your ledger
- Reduce the risk of error
If your books are inaccurate, it’s impossible to know the true financial health of your business. A bookkeeper who has experience and is certified can spot discrepencies or issues that others overlook.
When working with an online bookkeeper, you benefit from lower risks of costly errors and the ability to free up time to work on other, core tasks that help your business grow.
Reason 4: Organized and Supportive
Virtual bookkeepers help keep everything on track by being diligent and organized.
Virtual bookkeepers that are also accounting technology experts have fail-safe processes that keep everything as organized as possible. If you need help with a virtual bookkeeping task or have questions about an accounting cloud-based platform, more than likely, they can answer it!
This is helpful because it sets you up for success for end-of-the-year accounting. It also means you can give your accountant the most accurate and up-to-date information about your business so they can better forecast your next quarter and give you insight into how healthy your business is financially!
Accurate forecasts and information will empower you to make smarter business decisions that help you earn more money, expand your operations and reduce your risk of making bad decisions.
Reason 5: Save Time
When you hire a virtual bookkeeper, you save yourself hours of time per month and days per year of doing your own accounting!
In our last article, “How can bill.com help your small business accounting,” we discussed how we only get 24 hours in a day. Every hour is precious because we can’t add more hours, but we can develop solutions that save time!
A virtual bookkeeper is one of those solutions. You’re able to save time and have accurate bookkeeping to keep your business on the right track. This reason alone should have you picking up the phone to schedule a consultation!
We often work with business owners who try doing it all. These hard-working, laser-focused professionals take on countless roles in their company, but it takes away all of their free time.
You have to ask yourself: why did you incorporate a business?
For most people, the answer is for financial freedom and the ability to be their own boss. Offloading some of the tasks that you do, especially in accounting and bookkeeping, is one of the best ways to delegate tasks that strengthen your business.
You’ll also have more free time to spend with friends and family!
Partner with Redmond Accounting
If you had the chance to have more time in the day to focus on building your business while still receiving the same accurate accounting reports, would you take it?
The answer is always YES.
So what do you think? After reading our 5 reasons to hire a virtual bookkeeper, do you think it’s beneficial?
To learn more about how we can help you grow your business while providing you with accurate and effective accounting processes, connect with us and schedule a consultation today!
