Since you’ve made it to this blog, we sincerely hope you’re considering making a move from managing your accounting in-house to working with a virtual accounting firm. While we think that this is the ideal choice for all businesses, we of course understand that many business owners will have some reservations. For starters, it feels like you may lose some degree of control when your finances are being managed off-site, though that’s not necessarily true. Another concern may be the investment that you’ve already put into your in-house systems, and whether you’ll still be able to use your current accounting software once your books are being handled by your virtual accounting firm.
It’s a valid concern, to say the least. Software isn’t cheap, and no business, no matter how large or small, wants to throw away money that they’ve invested, in lieu of a newer solution, regardless of how attractive the new solution may be. Here at Keeping Your Balance, it’s our goal to save you money, both by making sure that your bookkeeping and financials are always up-to-date and precise, and by providing a highly cost-effective solution. We certainly don’t want you to waste money. It would help clarify things here to give a bit of an overview of just what is involved in working with a virtual accounting firm. When you contact the accounting experts at KYB, the first thing we’ll do is to set up a consultation, to gain a solid understanding of your business. That includes your existing systems, like your current accounting software. Once we have a clear picture of what you’re doing, where you’re coming from, and where you want to be going, we’ll propose a solution. We’ll provide you with a team of accounting professionals who will be assigned to your books. You’ll have access to multiple sets of eyes who are familiar with your books, as well as best-of breed software to manage it all in the cloud.
It’s not an easy task to choose the best accounting software. They are a number of viable choices for small businesses, and you’ve probably got enough demands on your time that you can’t really thoroughly research, test, and evaluate all the option. A virtual accounting firm, however, specializes in accounting, so it’s part of their core business to stay on top of the latest and greatest tools and technologies. You can also expect that they’ll have specific accounting software for particular and specialized needs.
What will become of your existing accounting software? That will depend largely and what sort of applications you’re using, how old the software is, how compatible it is with other systems, and, just what you need a virtual accounting firm to do for you. If you’re running the same program you got in the last millennium, I wouldn’t expect that you’ll be able to use it in conjunction with current systems, and honestly, you’ve gotten your money’s worth out of that product already. If you’re using reasonably current software, it’s very likely that it will interface well with our systems, and can be integrated into the customized plan we’ll design for you.
If you’d like to learn more about the value of virtual accounting for your business, give us a call. We’d love to set up a free consultation.