Businesses should have accurate accounting recording. Bookkeeping is the key task to ensure that these records are kept up to date, this being an important aspect of business sustainability. In other words, what bookkeeping does is to assist the business to manage its cash flow. In addition, accurate bookkeeping can indicate whether the business is meeting its financial obligations; and whether there are funds available for reinvestment or expansion. That said, a virtual accounting assistant or virtual assistant accounting clerk could complete the bookkeeping tasks and be a cost-effective staffing solution. More so, having the accounting tasks completed by a virtual assistant will free up your own time, time you can focus on tasks that are more important. Here is a guideline of the benefits of a virtual assistant and how to hire a virtual assistant (accounting).
The benefits of a virtual accounting assistant
More than 58% of large businesses use cloud accounting software. This software makes it easy for you to onboard a virtual assistant to assist with the accounting and bookkeeping tasks. All you do is create the account and permit the virtual assistant to log in. You use a password gatekeeper such as LastPass, which can secure the password from the assistant and others. In addition, you can update the password regularly without having to share it. Meanwhile, the virtual assistant can complete the bookkeeping tasks assigned. Another benefit of virtual accounting assistant support is that they can conduct research on the latest trends in accounting. Thereafter, you can apply these trends to benefit your business. However, the main benefits are still cost savings and freeing up your own time.
Some of the conveniences of using cloud accounting with a virtual assistant
Even though you have invested in a good cloud accounting software program, it will not operate on its own. More so, it can be confusing and complex to use. Add to that the lack of time you might experience, and then hiring a remote assistant becomes logical.
Cash flow statements
A virtual accounting assistant can manage this type of accounting software to access cash-flow reports. Such statements are needed for all strategic decision-making. You need to be in the know with the financial profitability, strength, and the long-term future position of the business. Besides the statements provided, the virtual assistant can monitor credit card usage of your employees. This can prevent overspending and misuse of credit card benefits. Also, the assistant can update the invoices using the most apposite software.
What cloud accounting software does is to make payroll tasks much easier. Here your virtual assistant can create payroll reports, which will indicate payroll tax, giving you a solid grasp of the finances of your business.
Receipts and other documents need to be entered into the cloud-based accounting system. You need that for tax filing, or when conducting a bank reconciliation. However, data entry is a low-level task − if you are doing it yourself, you are wasting your money. A virtual assistant will cost you much less than if you take on the task yourself.
Checking financial transactions
Irregular transactions can destroy your business. More so, many companies are so large that they tend to overpay or even pay for work that has been done already. Nevertheless, a virtual assistant can be tasked to keep an eye on your financial transactions.
How to hire a virtual account assistant
More than 64% of small businesses use some version of accounting software. Hiring a virtual accounting assistant is therefore easy. But be clear on what you want the assistant to do. You can make a list of the tasks you would like them to take on board. For instance, you might want them to assist with tax preparation, adding financial data into single reports. If you are unsure of what you want, you can simply speak to our outsourcing experts. Our experts have years of experience of what will work for you and your business. They are therefore tailor-made assistants for all who need help. All businesses are different. Your needs will be different, therefore an effective, custom-designed solution will be afforded you.
Let Aristo Sourcing support you
Onboard your virtual bookkeeper or accounting assistant today. If you utilize cloud accounting software then it will not be difficult to get your virtual assistant up and running. Book your discovery call today – Aristo Sourcing is there for you.