Hiring a virtual assistant for most of the tedious tasks like bookkeeping and accounting has since benefited either small businesses, accounting firms or bigger companies.
In this article, we will talk about how to hire a bookkeeping virtual assistant and the many things they can do for your business.
As a business owner, your main job is to ensure that all of your resources are properly managed, you resolve any issues that arise, you build relationships with clients, and most importantly, at some point, you wish to understand how the business is doing.
What more reason to be happy than seeing that you have high cash sales for the day. But, that is just the tip of the work. There are records of receivable payments, dues, and other expenses that need to be plotted and maintained in the books so you get a clear picture if the business is really earning.
Who would do this tedious job? A bookkeeper, who you can actually outsource online just like hiring a general administrative assistant.
Here are a few reasons why hiring a bookkeeping virtual assistant is the best option for you:
It remains a fact that online assistants can get you so much cost savings in the long run. As compared to hiring a full-time accountant or bookkeeper, getting a bookkeeping virtual assistant to manage your books only pays a fraction of the actual cost.
Also, your bookkeeping VA is trained to properly organize data into readable reports so you would easily know areas you have to minimize your spending.
Saves You More Time
Hiring a bookkeeping virtual assistant definitely takes off that heavy load of sorting out receipts and managing the ins and outs of money in the business, plus properly keeping a record of every transaction in your books.
Let’s be real here. You can’t just be all around the place and doing every single task in your business. Having a VA makes it all bearable, at least for the mundane items that feed on so much time and consistent headaches.
Bookkeeping then becomes one sorted fully-packed task so you can spend your time on high-level management needs.
What Does a Bookkeeping VA Do?
You might be wondering what a virtual bookkeeper can do or which repetitive tasks you can possibly hand over:
Paying Bills on Time – Keeping track of all the bills’ deadlines and making sure you pay them before they are due can be a daunting task for you, but not to your VA.
Preparing the invoices and accounting books – Your VA will take care of preparing the receipts and will also maintain a daily recording of business transactions in the books.
Manage the sending of invoices and payment reminders – A routine task of mailing invoices and sending your clients payment reminders can also be delegated to your virtual assistant.
Financial Database Management – Perhaps, the most efficient way to maintain an organized financial record is through the use of applications or systems like Quickbooks where you can safely store your financial data. Your VA can help you manage and maintain your accounts and at the same time, helps you to retrieve financial documents easily.
While these are all that your amazing bookkeeping assistant can do, there are also tasks that are best done and worked with your accountant:
- The legal side of the process
- Tax-related items
- Financial analysis and forecasting
The Hiring Process
Whether you are a small and growing company or a large corporation, the need to hire for a bookkeeper to manage, monitor and keep records of your daily business transaction is a vital decision.
It goes the same way with gauging if you need a full-time employee for this role or hire a virtual assistant instead.
As pointed out earlier, anything you can outsource without sacrificing the desired quality of work is always worth your money as it eventually saves you labor costs and gives you more room to focus on the business’ core activities.
The ways to select and hire a bookkeeping virtual assistant can be patterned from the typical hiring process of any other virtual assistant service.
You may refer to our fast and easy guide on how to hire a virtual assistant from the Philippines.
Fulltime Filipino bookkeeping or accounting virtual assistants normally have a pay scale between $500 to $1,000 per month. This is just a rough guide as individual talent may offer a different price range depending on your desired skill set and task requirements.
As far as the online resources, virtual assistant service or outsourcing companies, we have made a list of a few credible companies you can find in the digital marketplace.
Being productive does not mean doing everything alone and at once. We always need an extra pair of eyes and hands sometimes, especially on tasks that will surely consume most of our time staring at a computer screen or in our calculators.
For the business to grow, learning to prioritize is equally important as knowing how to delegate. The bookkeeping side of the business is something that demands an expert on that field, so hiring an assistant in this area is key to letting go of a mountainous task from your shoulder.
By doing so, your focus will be more directed on the strategic aspect and organizational growth to keep your business afloat.