The size of your business should not be your main consideration when you are trying to decide if you should get accounting help. If you need help with your accounting then you need to seek out help no matter what size your business is. Perhaps accounting is simply outside your set of core competencies and you need help from day one. Or, maybe your business is growing and you simply cannot keep up with the accounting along with your other responsibilities. Either way, a virtual accountant/firm is a great option for people who are running a start-up or small business. What about larger businesses? Can virtual accounting work or is it necessary to hire an in-house accountant and eventually have an accounting department? Virtual accounting is also a good option for larger businesses that have more complicated and time consuming accounting needs. How is it possible that virtual accounting can work for both small and big businesses?
- Customizable plans
The main reason virtual accounting can work for a company of almost any size is because it is fully customizable. When you decide to use a virtual accounting firm you will work with the accounting professionals there to develop a plan that meets the bookkeeping needs of your business. If you are just starting out you do not need someone working on your accounting fulltime. A virtual accounting firm will allow you to choose and pay for only the services that you need. The same process of creating a customized plan is used for larger businesses. You can enjoy the benefits of having someone spend the time necessary on your accounting needs without having to deal with the process and overhead of hiring more fulltime employees.
- Team approach
Accounting firms typically have several accounting professionals on staff. This means that there is more than one person who knows the details of your company’s financials. This approach can help reduce the instance of mistakes because more than one set of eyes have looked over your information. In addition, if one of the accounting professionals is out of the office there is still someone available to work on your bookkeeping needs and address any questions or concerns. If you have a big business and need a lot of help with your bookkeeping the team approach of a virtual accounting firm keeps things going without interruption.
Working with a virtual accounting firm will allow you to scale your accounting needs as your business grows. Your bookkeeping needs will grow along with your company. If you use an in-house bookkeeper that means at some point you will need to hire more help. You will spend time and energy going through the hiring process every time your business grows to the point of needing more accounting help. When you work with a virtual accounting firm there is no need to go to the trouble of hiring new employees. As your needs increase you simply work with the firm to adjust your customized plan. They already have the staff in place so adding additional services is a smooth transition.
Do not let the size of your business hold you back from exploring the option of virtual accounting. You can discuss the details of your business with a virtual accountant to determine the plan that is the best fit for you.