Top 6 Benefits of Virtual Accounting Services

21 Dec Top 6 Benefits of Virtual Accounting Services

Posted at 10:12h in

Virtual Accounting

by Becky Brown  •  0 Comments

benefits-virtual-accounting-servicesWorking in the virtual space can be a bit intimidating, especially if you’re not tech savvy. Ten years ago, it was enough for a CEO to answer emails on their own. Now we’re going to hire a company to virtually manage all of our accounting services? Sounds a bit heavy, doesn’t it?

But it’s 2015. Everything is online now, and cloud-based services are becoming the rule instead of the exception. One day, physical storage as we know it may cease to exist. Everything you work on will live on the internet. By embracing virtual services now, you’ll be ahead of the curve.

Here are six of the best reasons to adopt virtual accounting services:

Save a bunch of money

Let’s say you’re running a start-up with five employees. Do you want one of those employees to be a full-time accountant? Are they really going to be super busy handling financial information for such a tiny company? Of course not. So why waste the money on an additional employee when you don’t have to?

Save yourself a ton of time

We have a philosophy here at Keeping Your Balance that every moment you’re working on the books, you’re taking time away from your core business tasks, and this is your business – what could be more important than running the day-to-day operations or seeking new business? It really doesn’t matter how you spend the time; but spending it on accounting work isn’t going to help your company grow.

Don’t be concerned about company growth problems

Speaking of growing, as your company expands, everything becomes a bit more complicated. You’ll have more clients, more projects, more employees – and that all means more numbers for the accountant to work with. Eventually, that accountant is going to need some help, and that means hiring someone else. But with a virtual accounting service, you can escape that scenario. Accounting is their entire mission, so they can handle whatever you throw at them. And if that means they need more employees on the file, then you’ll get them.

Get the benefits of diverse company expertise

When you have a full-time in-house accountant, they only see your financials. That gives them a very limited view, as they see everything through the prism of your business. But with a virtual accounting service, you have a variety of workers contributing to your books. That may sound like a problem, but it’s actually a tremendous benefit. These people handle accounting for many different businesses which means they’ve learned how the books are supposed to be done. So if any unexpected irregularities pop up, they’re well-equipped to identify them.

Take your accounting services wherever you go

Advanced virtual accounting services now use cloud-based software, which means your financial information lives online. That allows you constant access to it wherever you are, from a variety of devices (laptop, smartphone, tablet). This is especially helpful if you don’t spend a lot of time in the office, or you prefer to work from home.

Up-to-the-minute information is readily available

Because you have a virtual home for your accounting services, it can be updated with relative ease. And if you’re working with a tech-smart firm, they can work with software that will automatically update your financial information.

 

Topics: Virtual Accounting