Why you should Embrace Virtual Bookkeeping now…or at least start thinking about it!
Technology has transformed almost everything that we do on a daily basis. To a large extent this has resulted in our lives becoming easier and allowing us more time to focus on what is relevant. Over the last decade improvements to financial technology has allowed bookkeepers to improve their relationship with their clients by providing the opportunity for added value, better collaboration, improved responsiveness, enhanced productivity and more flexibility.
The days of waiting for a bank statement to arrive in the mail to start the reconciliation process is over – thank goodness! We are in the wonderful position of being able to review online transactions anytime and anywhere we want. Cloud based applications mean that business owners have access to their information and can be responsive to changing business conditions. Statistics and reporting are always at our fingertips. In addition, third party applications allow bookkeepers to reduce data entry time and instead let them focus on providing you with value added services.
With enhancements arriving almost on a daily basis there really has been no better time to make the change to virtual.
If you are ready to start taking advantage of all the benefits a virtual bookkeeper can provide then the first step is to get organized.
Establishing procedures – There is no difference between an onsite bookkeeper to a virtual one when it comes to providing them with the information to the get the job done quickly and properly. It comes down to being organized and ensuring your records are complete and accurate. It also means that you need a set of documented procedures and guidelines that instructs your staff and governs the bookkeeping relationship.
Ensuring security – Cloud based applications rely on accessing sensitive accounting and banking information. Make sure that when you establish your procedures that you develop policy that addresses security of your documents and access to your information.
Managing Documents – Virtual bookkeeping relies on the timely transfer of documents from the business to the bookkeeper- how and how often needs to be determined. Make sure you have this covered in your documented procedures. The great news is that there are numerous cost effective document management applications available to choose from. Options that will fetch, store and provide redundancy backups for all your important documents.
Deciding on Software – Accounting, Meeting and Third Party Applications. Cloud based applications make working with a virtual bookkeeper almost seamless. Hosted environments and remote access software can also be viable options for some businesses. Just because your bookkeeper is now virtual doesn’t mean that face to face meetings are over. There are meeting and conferencing software that facilitate screen sharing and online training. It can almost seem like you are still in the same office together.
At Catalyst Business Services the best outcome that we get from working with our virtual clients is the ability to help them when they need it.
If you would like to start the conversation on transitioning to virtual bookkeeping, contact us, we would love to chat with you.
- Business Accounting Services
- The Basics of Cash Flow and Why It’s Important
- Why Bookkeeping Is Your Most Powerful Business Tool
- Some Basic Bookkeeping Terms and What They Mean
- Myths About Hiring an Accountant for Your Small Business
- The Benefits of Financial Management for Your Medical Practice
- Is it Time for Your Business to Revisit Your Financial Plan?
- What a New Business Needs to Know About Cash Flow
- Ideas to Build Your Business in the Coming Year
- Bookkeeping Best Practices for Small Businesses