Bookkeeping is a very time-consuming task for a lot of businesses. Small and medium businesses often struggle to stay on top of it, especially if they don’t have a dedicated bookkeeper or accountant. It will often either take up valuable time that could be used on other tasks or end up neglected because there’s no time to do it. If your business is struggling to stay on top of bookkeeping, a virtual bookkeeping service can help you.
Virtual bookkeeping will take care of all of your bookkeeping needs so that you don’t have to waste your valuable time or that of your staff on record-keeping and other tasks. You can concentrate on your core business activities and the growth of your business instead.
The Bookkeeper Hub helps you to get on with better things with trained Xero consultants who can take over your bookkeeping for you.
What is a virtual bookkeeper?
A virtual bookkeeper is a bookkeeper who provides their services remotely. You don’t need to visit them at their office, and they don’t need to come to you, either. Virtual bookkeepers use online accounting software such as Xero and communicate with you through a variety of means, including phone calls and emails.
Virtual bookkeeping is a very convenient way of receiving the services that you need. It can help you to save time and money by allowing you to sort out your bookkeeping with ease. Your bookkeeper can help you with a range of financial tasks, including preparing financial reports and business activity statements. With a virtual bookkeeper by your side, you can keep your business finances organised.
Should I hire a virtual bookkeeper?
Deciding whether to hire a virtual bookkeeper might be tricky if you’re not sure whether you need one. You might think that you’re doing well with staying on top of your finances or that you already have a bookkeeping service that works for you. But there are some signs that you might need to hire a virtual bookkeeper to help you out.
You don’t know what your finances look like
Do you have a good idea of the state of your business’s finances, off the top of your head? Do you have clear financial reports that you can check if you don’t know? If you don’t have much idea of whether your finances are in good condition or not, a virtual bookkeeper can quickly give you more transparency and oversight.
You’re spending too much on accounting
An in-house accountant or bookkeeper can be pretty expensive, even if they only work part-time. Many small businesses don’t really need a permanent employee to look after their accounts for them, so you could be wasting a lot of money. A virtual bookkeeper can cost you a lot less, helping you to save more.
Bookkeeping is taking up too much of your time (or you have no time for it)
Fitting bookkeeping into your schedule can be tough if you’re trying to do it yourself. Either it takes up valuable time that could be spent on something else or you don’t have time for it because you’re too busy. Hiring a virtual bookkeeper will give you your time back so you can focus on other things.
The 4 biggest benefits of virtual bookkeeping
1. Save time
When you don’t have time for bookkeeping, get a virtual bookkeeper to do it for you. Using virtual services means you don’t need to visit your bookkeeper’s office. They can do it all online using your chosen accounting software.
2. Save money
Save money when you have no need for an in-house accountant or bookkeeper. Having insight into your finances also helps you to save by giving you a better view of your income and outgoings.
3. Prevent mistakes
Virtual bookkeepers can help you to avoid mistakes in your bookkeeping. You will be able to ensure you avoid tax issues by minimising the chances of incorrect information. Get a professional to take care of your business finances for greater accuracy.
4. Understand your business’s financial position
Having a greater understanding of your finances brings you multiple benefits. You will be able to make better financial decisions when you understand your cash flow and turnover. You will be able to budget and plan better, and you will be able to demonstrate your financial position to investors and lenders.
Virtual bookkeeping delivers multiple benefits to you and your business. When you work with virtual bookkeepers like the experts at The Bookkeeper’s Hub, you receive help and support with a range of plans to suit your needs.
