You think starting your own company means doing everything on your own? Chasing down payments. Sending invoices. Matching accounting records. Somewhere, the financial tasks find their way to your table, buried in a paper avalanche.
No, you shouldn’t be doing all these. Instead of working on the little details in your business, you should be focusing on high-yielding activities. Try a virtual assistant for bookkeeping and let them take over the accounting tasks that slow you down.
This flexible and cost-effective solution is what many business owners are using to take care of their financial health. They say it’s the smartest approach to alleviate a massive workload and give you and your bookkeeping team some breathing room.
Well, they could not have been more right.
What’s Bookkeeping?
Bookkeeping is the systematic recording of your company’s financial affairs. It is a process that zeros in on the everyday financial activities of your business.
The only problem with bookkeeping is that transactions happen daily, and that takes an ample amount of time to document.
Hiring an on-site accountant to handle your financial matters doesn’t come cheap. Doing it yourself, on the other hand, is detrimental to your business, pulling you away from important tasks.
Alas, the best way to go about this is through a virtual assistant for bookkeeping, who has the knowledge beyond the basics from high school.
Remember, bad bookkeeping leads to disorganised financial data. This negatively affects your business operations and can get you into some serious legal trouble.
Can a Virtual Assistant Do Bookkeeping?
Yes, they can!
A virtual assistant is a skilled virtual professional who supports your financial administrative tasks. They carefully monitor and record all the money that moves in and out of your business and spot any inconsistencies.
This type of VA is highly valuable in keeping your financial health robust. After all, balancing books is not as simple as ABC. All bookkeepers tend to handle multiple tasks simultaneously to succeed in their role.
Here's a closer look at what they do for your business:
Recording and Managing Financial Transactions
You probably grapple with maintaining consistent records on a daily basis. VAs can offer invaluable support to accelerate this process. They can track income and categorise transactions, freeing up your time in the process.
By leveraging a bookkeeping VA, you can promote financial transparency and work efficiency and get an even greater value for your investment.
Reconciling Accounts
A remote professional can do bank reconciliations to ensure all your records are clean and accurate.
Generating Invoices and Managing Accounts Receivable
Your remote bookkeeping assistant can track all your accounts receivable and invoices. They churn out this process so your cash continues to flow smoothly.
Managing Accounts Payable
Remote assistant bookkeepers can monitor your due dates and handle your payables, so you don’t overlook deadlines and incur penalties.
Preparing Financial Reports
Preparing financial reports and analysis can be quite burdensome for you or your in-house bookkeeping team. Fortunately, VAs can alleviate the pressure by taking on the assignment of generating reports, balancing sheets and formatting data. In doing so, they allow you more time for strategic financial insights.
Assisting with Payroll
Virtual assistants free you from the hassle of payroll processing. They can calculate the wages and manage enquiries, ensuring full compliance, accuracy and transparency.
Managing Tax Filings
Your assistant is also equipped to assist you with timely tax preparation. They will ensure precision and regulatory compliance. This way, you only pay for what’s necessary and sidestep future liabilities due to tax errors.
Using Accounting Software
One thing that you must know about your virtual assistant for bookkeeping is that they’re experienced in using different accounting tools. They are experts with various software to ensure record-keeping accuracy, allowing you to manage your financial activities efficiently.
Communicating with Clients and Vendors
Sure, numbers drive your financial decisions, but it's effective communication that drives action. It goes beyond just keeping records of day-to-day financial activities, encompassing active communication related to financial matters.
That’s where a virtual assistant proves useful, as they can help engage clients and suppliers to facilitate flawless transactions.
Keeping Up with Financial Data
Being organised is critical when dealing with numbers. As for your virtual assistant for bookkeeping, they will be responsible for keeping all financial data exact and updated in a timely manner.
Benefits of Hiring a Virtual Bookkeeping Assistant:
Are you getting a headache from trying to escape the invoice and spreadsheet spiral? Breeze through the winds of financial tasks by collaborating with a virtual assistant.
Peek at the perks of outsourcing to a VA for bookkeeping, and move your business forward.
Cost Savings
Generally, VAs are value-packed. They’re more affordable than employing a full-time bookkeeper, having you ditch the overhead costs such as office equipment, rent and employee benefits.
You only pay for the expertise you use exactly when you need it.
Time Savings
Tedious bookkeeping tasks are a productivity thief. They munch on your most precious asset—time— and distract you from core business functions.
Stop crunching numbers with a virtual assistant bookkeeper, and start working on your business-driving activities and generating more revenue.
Increased Efficiency
Preparing invoices, following up on payments, and balancing books…there’s a better way to handle these tasks that don’t require your attention. VAs can optimise your financial workflow and have you exercise greater financial control.
Access to Expertise
Remote professionals come from various walks of life all over the planet. They bring skilled expertise in different fields, such as accounting and bookkeeping. They can ensure the correctness of your financial data and standard compliance without straining your finances.
Scalability
Your remote assistants can lessen or increase their efforts to match your fluctuating workload demands. This allows you a more flexible budget because you can now adjust your financial support according to your needs.
Features that Make an Outstanding Virtual Assistant Bookkeeper
When you’re choosing your virtual assistant, look for a candidate who embodies the following capacities.
Skilled in Numbers
Bookkeeping deals with a lot of numbers. If your VA has no knack for figures, they’re more likely to commit mistakes, and that would slow down your operation.
An Organised Thinker
Your assistant’s mind must run like clockwork to be able to quickly grasp the company’s cash flow. They must monitor all financial transactions on time, and having an organised head is crucial to do this task.
Keen Eye for Detail
A virtual assistant bookkeeper must be able to notice the little details or subtle aspects of your financial dealings. They must, so they can avoid making financial errors.
Integrity
Protecting financial information is paramount in your business. For this reason, you need a remote assistant who can be trusted with your company’s sensitive data. They should be reliable enough to comply with confidentiality standards and maintain trust.
Knowledgeable in Accounting Software
To speed up tedious financial chores, your virtual professional must be proficient in using various accounting software, like QuickBooks. This way, you can record all financial transactions and examine your company’s financial health effortlessly.
What’s the Best Way to Hire a Virtual Assistant for Bookkeeping?
Recruiting a virtual assistant for bookkeeping isn’t always a breeze. While you can scour freelance marketplaces, it takes time to vet candidates from around the world.
Partnering with virtual assistant companies like VAV gets you closer to your dream virtual assistant. We bring a decade-long experience in remote recruitment with access to an expansive pool of talented VAs.
We do the legwork on your behalf. Guaranteed, we will find your remote professional tailored specifically to your unique needs. From part-time to full-time assistants, we have a smart search system to connect you with the right candidate.
On top of that, we offer continuous support to ensure your VA is always at the top of their game.
So, what do you say about scheduling a consultation today?
FAQs on Virtual Assistants and Bookkeeping
Can I Use AI to Do My Bookkeeping?
Yes, you can utilise bookkeeping software to streamline your financial processes and reduce the risks. AI-powered programmes can simplify routine chores like sending invoices and creating financial statements.
Can a Virtual Assistant Do Data Entry?
Yes, there is a data entry virtual assistant who takes on the role of managing your large volume of data. They can organise your digital files and update them regularly, and have them readily available for use.
Conclusion
Right now, you should be focusing more on working on your business instead of being in it. Put more effort into core functions and let the skilled hands of a virtual assistant for bookkeeping manage your finances.
VAs can polish up your financial operations and enable you to step back and pursue strategic ventures. From scalability to cost reduction, you can’t deny the advantages of having a remote professional in your corner.
Here, at VAV, one of the most trusted virtual assistant agencies, we are committed to giving you the support you deserve. We will match you up with the right remote professional who can truly impact your business.
So, stop playing with numbers and embrace this cost-effective solution. Reach out to us, and let’s discuss how we can help appease your bookkeeping needs.