Businesses should have accurate accounting records. Bookkeeping is crucial to ensure these records are updated, an essential aspect of business sustainability.
Bookkeeping assists the business in managing its cash flow. In addition, accurate bookkeeping can indicate whether the company is meeting its financial obligations and whether funds are available for reinvestment or expansion.
A virtual accounting assistant or assistant accounting clerk could complete the bookkeeping tasks and be a cost-effective staffing solution. Completing the accounting tasks with a virtual assistant will free up your time, and you can focus on more critical tasks.
Here are guidelines on 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 to onboard a virtual assistant to assist with the accounting and bookkeeping tasks.
You 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 sharing it.
Meanwhile, the virtual assistant can complete the bookkeeping tasks assigned. Another benefit of virtual accounting assistant support is that they can research the latest accounting trends. After that, you can apply these trends to benefit your business. However, the main benefits are cost savings and freeing up your 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 independently. More so, it can be confusing and complex to use.
In addition to that, you might experience a lack of time, and then hiring a remote assistant becomes logical.
Cash flow statements
A virtual accounting assistant can manage this accounting software to access cash-flow reports. Such statements are needed for all strategic decision-making. You need to know about the business’s financial profitability, strength, and long-term future position. In addition to the statements provided, the virtual assistant can monitor your employees’ credit card usage. This can prevent overspending and misuse of credit card benefits. Also, the assistant can update the invoices using the most appropriate software.
Payroll
Cloud accounting software makes payroll tasks much more accessible. Your virtual assistant can create payroll reports indicating payroll tax, giving you a solid grasp of your business’s finances.
Data entry
Receipts and other documents need to be entered into the cloud-based accounting system. It would help to have that for tax filing or when conducting a bank reconciliation. However, data entry is a low-level task − you waste your money if you do it yourself.
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. Many companies are so large that they tend to overpay or even pay for work already done. Nevertheless, a virtual assistant can be tasked with monitoring 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 list the tasks you would like them to take on board. For instance, you might want them to assist with tax preparation and adding financial data into single reports.
You can speak to our outsourcing experts if you’re unsure what you want. Our experts have years of experience in what will work for you and your business. They are, therefore, tailor-made assistants for all who need help. All companies are different. Your needs will be different; thus, a practical, custom-designed solution will be afforded to you, as well as the bookkeeping and outsourced accounting work.
Let Aristo Sourcing support you.
Onboard your virtual bookkeeper or accounting assistant today. If you utilize cloud accounting software, getting your virtual assistant up and running will not be difficult. Book your discovery call today – Aristo Sourcing is there for you.