Virtual Bookkeeping Assistant
A virtual bookkeeping assistant remotely handles your business finances. Busy business owners of all sizes hire them for tasks like data entry, invoicing, and reporting.
- Save 3-5 hours per week
- Reduce your stress with the right skills
- Cut costs while getting the work done
- Get organized & reduce your invoice lag
What is a Virtual Bookkeeping Assistant?
A virtual bookkeeping assistant is a remote professional hired to provide comprehensive financial support and assistance to businesses or individuals. Leveraging technology and online platforms, these assistants perform various bookkeeping tasks such as recording financial transactions, reconciling accounts, generating financial reports, and ensuring compliance with relevant regulations.
By working remotely, virtual bookkeeping assistants offer the flexibility to manage financial tasks efficiently without needing physical presence, making them a cost-effective and convenient solution for businesses seeking reliable bookkeeping.
Benefits of Hiring a Virtual Bookkeeper
Hiring a virtual bookkeeping assistant has several benefits. It provides cost savings, as businesses can avoid expenses associated with in-house staff, such as office space, equipment, and benefits. Virtual bookkeeping assistants also offer flexibility, allowing customized arrangements based on the business’s needs. The use of technology facilitates real-time collaboration and efficient communication, enhancing productivity.
Additionally, virtual assistants often bring expertise in the latest accounting software and regulations, ensuring accurate and up-to-date financial records. By eliminating geographical constraints, businesses can access a global talent pool, potentially finding specialized skills that align with their unique requirements. Hiring a virtual bookkeeping assistant can streamline financial processes, reduce operational costs, and enhance the overall efficiency of financial management for businesses.
Tasks of a Virtual Bookkeeping Assistant
A bookkeeping VA handles various financial tasks, including but not limited to:
- bill payments
- invoice generation
- creating financial statements
- payroll management
- assisting with business purchases
- preparing your taxes
- managing your calendar
- scheduling payments
- helping with end-of-year accounting and general reports
- keeping track of other payments that might be due
Why Should You Hire a Virtual Bookkeeper?
Hiring a virtual bookkeeper saves money and time. Handling bookkeeping and accounting internally can be time-consuming and tedious, diverting effort from core functions. A skilled bookkeeping assistant is crucial for business success, offering long-term cost savings, freeing up your schedule, and facilitating business growth.
Virtual assistants are proficient in accounting software like QuickBooks, Xero, and Freshbooks and possess top skills in bookkeeping, QuickBooks, and Microsoft Office, including effective time management for timely invoicing and organizational bookkeeping.
Which Businesses Can Benefit from Hiring a Virtual Bookkeeper?
Small and medium-sized businesses, especially startups, retail stores, e-commerce or online stores, law firms, real estate agencies, and nonprofit organizations, can significantly benefit from hiring a virtual bookkeeper. Virtual bookkeeping offers these businesses cost-effective, flexible support in managing finances, keeping accurate records, and ensuring timely invoicing and payroll—all without needing a full-time, in-house role.
How It Works
Step 1: Tell us your requirements
Step 2: Receive an instant quote for your VA’s cost
Step 3: Onboard your VA
We’ve streamlined your hiring process, saving you 3-6 weeks!
Ready to Streamline Your Bookkeeping with Virtual Assistance?
Contact us today to discuss your needs and discover how our virtual bookkeeping assistants can revolutionize your operations.
Frequently Asked Questions
A virtual bookkeeper handles the business’ financial transaction details as part of their bookkeeping task list. A virtual assistant bookkeeping person maintains accurate records and ensures that payments are processed. Other essential bookkeeping duties that form part of a virtual bookkeeper job are processing invoices, filing tax forms, and making bank deposits from within and sometimes from outside.
Like traditional in-person bookkeepers, a virtual bookkeeper handles the day-to-day financial duties such as recording transactions, reconciling credit card accounts and bank cards, and processing payroll. In short, a virtual bookkeeper or bookkeeping assistant is also known as someone who works remotely or does their bookkeeping tasks online.
A virtual bookkeeping assistant can manage different bookkeeping tasks, such as making sure the bills are paid on time, preparing invoices, and keeping general ledgers up to date. Additionally, they can prepare and mail invoices to clients. A virtual assistant can also email payment reminders and follow up with clients telephonically. It is also interesting to note that around 60% of virtual assistant bookkeepers have a college degree.
Many businesses benefit from hiring a virtual bookkeeper. These virtual assistants assist with day-to-day accounting tasks and are helpful as the company grows and the low-level functions expand. A virtual bookkeeping assistant is a cost-effective staffing solution to resolve labor needs at a business-friendly cost.
Bookkeepers help businesses maintain their finances by monitoring accounts, transactions, and reports. A virtual assistant bookkeeper organizes, collects, and stores the company’s financial records, including cash flow statements, loss statements, and bank reconciliations.
A bookkeeping virtual assistant can significantly support your bookkeeping practice by taking over tasks such as data entry, organization of financial information, invoicing, billing, reconciliation, expense management, document organization, payroll assistance, communication with clients and stakeholders, appointment scheduling, research, basic reporting, social media management, and other administrative tasks. By taking over these responsibilities, a bookkeeping assistant can free up your time to focus on strategic business activities and client relationships. Effective communication, clear expectations, and proper training are essential for maximizing the benefits of integrating a virtual assistant into your bookkeeping practice. So, when you hire a bookkeeper, a small business can succeed.
Engaging a virtual bookkeeping assistant allows you to optimize your business work by delegating data entry, invoicing, expense tracking, and reconciliations. This enables you to prioritize fundamental business functions, strengthen client connections, and attain heightened operational effectiveness within your bookkeeping practice.
If you file taxes—and we hope you do—you might benefit from a virtual bookkeeper. Every business needs to manage its finances, and small business owners who are too busy to handle their bookkeeping should consider outsourcing this critical task. Whether you run a growing business or are a self-employed freelancer or contractor, keeping your books in order is crucial for growth. A virtual bookkeeper can take over this responsibility and bring specialized accounting skills to improve your bookkeeping.
There are two key differences here. First, a virtual bookkeeper works remotely, so you can contact them by phone or email. An in-house accountant, on the other hand, will be physically present. The second difference is cost. An in-house accountant is usually more expensive and requires a full-time salary, benefits, and workspace. With a virtual bookkeeper, you only pay for the hours they work.
Bookkeepers typically don’t require advanced higher education to excel in their roles, whereas accountants often undergo specialized training to handle more complex financial tasks. Additionally, the pay scale differs significantly between the two professions. Since bookkeepers usually serve smaller businesses, their compensation tends to be lower than accountants, who frequently work in more specialized or larger-scale organizations.