If you are considering switching from in-house accounting to an outsourced virtual model, you probably have a lot of questions. Accurate accounting is essential to the financial wellbeing of your business and switching to a new method of bookkeeping should only be done after careful consideration. Access to your information is likely a major concern as you consider outsourced bookkeeping. Do you have immediate access to all of your financial data? What type of access does cloud based outsourced bookkeeping provide? Does the cloud provide secure access to my data? Start your research into outsourced bookkeeping by getting the answers to these important questions.
- Immediate access
When you outsource your bookkeeping needs to a virtual accounting firm, you will have immediate access to your financial data. This is a major benefit for you and your business because it can streamline many of the processes you currently use. You can collaborate with others and share information with confidence because you know the cloud contains the most up to date version of your data
Through a virtual accounting firm, you will also have constant access to the most recent versions of your financial statements. The process of compiling and distributing the financial reports is much simpler because all of the financial data for your business is already online. When a stock holder, employee, or potential investor asks to see your financial statements it will be as simple as getting online and logging into your information.
- Access at any time of day, from any place
One of the major benefits of cloud based accounting is the level of access you have to your financial data. You can access your information anytime you have an internet connection. It is similar to the concept of looking at your emails-you can look at them anytime, from any device as long as you have the correct sign-in information. If you want to look over a financial statement at three in the morning, you can do that without leaving your house.
You can also access all of your information from almost anywhere, which is a major benefit for business owners who have to travel frequently. It allows for real time collaboration with your team even when you cannot be in the office. For example, if you are out of town and want to collaborate with your marketing team on a new project, you and the team can all see the data in real time through the cloud.
- Secure access
Technology integration is one of the benefits of switching over to a virtual accounting firm. A top notch firm will provide you with the expertise you need in both accounting and technology. Each firm is different, but they typically store your financial information in a secure server that is equipped with anti-hacking safeguards. In addition, you can discuss the firm’s policies related to sending confidential information via email to make sure you are comfortable with how the information is handled.
Take some time to research your options and talk to a virtual accounting firm before you make a decision about switching. Change can be difficult and time consuming, but moving your bookkeeping responsibilities to a virtual accounting firm will provide you with several benefits that make the change worth the effort.