Benefits of a Virtual Book keeper

So how does a virtual book keeper differ from a regular book keeper? Short answer is, they don’t – they just do things a little differently ;-)

A virtual book keeper can maintain your financial records, prepare reports, handle payroll and assist in communicating with regulatory bodies in just the same way as a regular book keeper would only difference being they are able to do it all from their own offices saving you the financial burden of purchasing office equipment and furniture and you only pay for their time as and when it’s needed.

I’ve sat both sides of the fence if you like in being a traditional book keeper for the last 6 /7 years and now progressing into the virtual world and I have to say I can seriously see some benefits to using a virtual book keeper.

So today I thought I would share what I consider to be some major benefits of using a virtual bookkeeper:

Less Cost

Like I mentioned above you don’t need to provide office space, equipment or get caught up in the admin of employing someone – a virtual book keeper takes care of all of that themselves.

Pay for what YOU need:

You can hire a virtual book keeper by the hour, on a retainer of so many hours per month either way, you only pay for exactly what you need.

More Efficient:

As an entrepreneur and small business owner you will probably already appreciate the benefits of working from your own office – you’re able to filter out the noise and concentrate. A virtual book keeper has those same benefits allowing them to concentrate on creating and maintaining accurate financial information.

Less chance of fraudulent activities/embezzlement:

Now I’m not trying to put the fear of god into you on this one but I have witnessed this first hand where previous book keepers have fraudulent extracted money from their clients and let’s face it, the one person who is trusted most generally is the in house book keeper. It’s a sad fact of life and makes my blood boil – trust is such a crucial part of any business relationship!

In the past I have, without any hesitation from clients, had access to their bank accounts, credit cards details and other personal financial information when completing their book keeping offline. In the virtual world there is now no need for a book keeper to have direct access to your bank account – many book keeping systems allow live bank feeds using only sort code and account number.

Ease of Access for CPA/Accountant:

It can be a hassle getting the book keeping records to an accountant or if you just have a few queries allowing them direct access to your book keeping system. With online book keeping systems you are able to easily and efficiently “invite” your accountant to look over your/your book keeper’s shoulder.

Proactive in Education:

You will often find that virtual book keepers have a vested interest in keeping up with the latest technologies and speaking from experience Xero as a book keeping system is extremely pro active in introducing new features and benefits on a very regular basis.

As entrepreneurs and business owners themselves you will undoubtedly find that a virtual book keeper will “go the extra mile” and continually strives to improve the systems and processes that they have in place that in turn will benefit their clients enormously.

Have you considered going Virtual with your Book keeping?

 


  • Grainne Foley

    Great post Tracy, for those of us who don’t understand or like numbers, virtual book keepers are a god send :)

    Grainne

    • http://www.coffeenotinc.co.uk Tracy Baker

      Thanks Grainne! I’ve yet to find anyone who actually loves doing the numbers and for many it should really be the first thing they outsource so as to give them a clearer picture of what is happening within their business whilst they focus on growing it :-)

      Thanks for dropping by and have a great weekend!

  • Guest

    Thanks! 

    • http://www.coffeenotinc.co.uk Tracy Baker

      My pleasure, you’re welcome!