Most companies require remote assistance to run a company smoothly. All businesses need administration assistance, tax preparation, accounting, and keeping records up to date. Without proper virtual bookkeeping, there are risks of exceeding the budget, and businesses may invite legal complications.
Virtual assistant bookkeeping is a strenuous and expert process requiring a professional workforce. It allows businesses to make intelligent and timely decisions to enhance their
business standards, including profit. Most companies are outsourcing virtual bookkeepers to cater to accounting needs.
Whether you are an established business or a startup, wrong virtual bookkeeping practices will trench your finances and time. You can now eliminate bookkeeping troubles by relying on a virtual bookkeeping service. These super assistants can prove to be assets by adopting paper-free bookkeeping to gain total control over the overall process.
This blog has everything you want to know about a virtual bookkeeping assistant. So, read on.
Who are Virtual Bookkeeping Assistants?
Virtual bookkeeping employs professionals who undertake accounting and financial tasks of various businesses and is entirely remote. The cultural shift of the market and the need to keep up the pace and win over the competition has resulted in virtual assistant dependency to complete the accounting and bookkeeping tasks faster and with correctness.
Why Businesses Should Hire Virtual Bookkeeping Assistants
1. Efficient Alternative
Appointing a full-time worker to oversee accounts and bookkeeping is costly. A full-time operative comes at a CTC cost with other pay, perks, and employee benefits. In addition, a full-time employee will require office space and other IT and administrative requirements to function.
Businesses should utilize employees for essential tasks. As a business manager, you can focus on the fundamental financial objectives of the company. Hiring a virtual bookkeeper allows companies flexibility and saves costs. Saving time and money by employing a bookkeeper makes excellent business sense for companies.
2. Improves Business Purchases
Never make private purchases from a business account. Following this rule will remove anomalies in financial transactions. Virtual bookkeepers are essential for companies to keep track of all corporate assets. In addition, bookkeepers are proficient in purchase automation for monthly recurring expenses.
Finding a bookkeeper is not challenging, although getting the right pick may be difficult. Startups should employ bookkeepers trained to handle accounts, like making spreadsheets, updating reports, and keeping a financial list. Businesses looking to hire virtual assistant bookkeeping should engage with multitasking employees, particularly those with reliable experience.
3. Offers Skill in Finances
Virtual bookkeeping services are proficient in completing tasks on schedule compared to standard employees. Virtual employees are experts in finance without restrictions to work from
the office or within office timings. Most reputed virtual assistant bookkeeping companies have skilled workforces which businesses can exploit.
Virtual bookkeeping employs professionals who can handle business finances effectively and reduce financial fraud risk. In addition, a virtual bookkeeper can create labels conferring everyday expenses. Recording assets with reconciliation of every transaction is another benefit companies get from virtual assistant bookkeeping.
4. Time Management
One significant challenge for businesses is time management. Startups cannot allow spending trained workers on regular bookkeeping or tedious tasks. Companies should utilize trained staff for creative and development efforts. In addition, a virtual bookkeeping employee can correctly file your tax return on time. It keeps businesses safe from legal repercussions and saves time and effort in moving into the finer details of taxation rules.
A virtual bookkeeper is an excellent asset in saving time; your company need not spare time maintaining accounts, verifying cash flow, or making into the nitty gritty of taxation laws. A bookkeeper can achieve these tasks efficiently and quickly.
Beginning a new venture needs constant involvement and attention to every detail. Once your business gains steadiness, you can reconsider your company strategy and KRA. Doing everything yourself will be taxing and will not help your business grow. It would be best to pull yourself out of monotonous and routine tasks. Hiring virtual bookkeeping experts and looking to outsource the most complex tasks is better. An excellent way to begin is by hiring a virtual bookkeeper to handle business accounts.
Finances and accounts are crucial areas that need to be done well for industry growth. Business development depends on appropriate planning, considering workable resolutions, and determining challenges. Hiring a virtual bookkeeper solves most of these problems for a startup.
6. Confidence in Business Growth
A standard business can entice clients and produce profitable income. Most companies are shaky about their investments and need specialists to handle reports. The financial documents prepared by skillfully hired bookkeepers are free from errors and adapt to the taxation rules. Having worry-free accounts can keep businesses focused on their growth and key result areas.
If financial management is sound, the future of startups has greater chances of success. It not only keeps strategic policies in place but also gives self-confidence to the administration. Hiring virtual bookkeepers are essential for startups to grow and have confidence in their policies.
7. Timely Payments
Lastly, hiring virtual assistant bookkeeping ensures bills are paid timely to prevent gaps in financial operations. Accounts have procedures to monitor invoices generated on time, and payments are not delayed. A virtual bookkeeper effectively ensures no late payment penalties resulting in the company’s poor performance.
Virtual bookkeeping helps startups deal with the legal commitments of tax payments and filing returns on time. Good financial transactions develop business enterprises increasing overall sales patterns.
Challenges in the Bookkeeping Process
According to a report published by Capital Counselor, 66% of businesses would rely on Artificial Intelligence (AI) shortly to automate tasks and save on expenditure. However, along with relying on technology, the challenges in the accounting sector are increasing.
Businesses will get into the following bookkeeping issues on any given day if they are not careful enough.
· Invoices are not generated on time.
· No record of transactions –big or small
· Sent invoice track records not maintained.
· Financial report glitches.
· Bad payroll management.
· Fraud is not detected on time.
· Cash management discrepancies.
· Failure to hire a talented workforce and bookkeepers
Depending on virtual bookkeepers, accountants, and tax professionals, organizations can go carefree on accounting and bookkeeping processes or can reduce the burden of the in-house bookkeeping professionals.
Tasks that can be Outsourced to a Virtual Bookkeeper
A Virtual Assistant Bookkeeping can handle all the tasks given to an in-house bookkeeping professional.
Here is a condensed list of Bookkeeping tasks that your business can easily outsource.
· Inventory Management
· Payroll Processing
· Bookkeeping consulting and supervision
· Billing and payment tracking
· Payroll file keeping and management.
· We keep records of purchase invoices, payment cheques, cash receipts, bank receipts, credit card journals, depreciation journals, etc.
· Checking all the records for accuracy
Benefits of Hiring a Virtual Bookkeeping Assistant
Careless handling of Bookkeeping records will later be a huge burden for businesses. So, for smooth operation, relying on Virtual Bookkeeping Assistants is advisable. Given below are the top advantages of hiring a Virtual Bookkeeping Assistant:
Reduce Expenditure and Save More
Virtual Bookkeeping Assistants are not under the company’s direct payroll; they are paid based on their work hours. Unlike regular in-house bookkeepers, they won’t ask for extra benefits such as healthcare benefits or transportation allowances. A business can save more on getting a Virtual Bookkeeping Assistant to do the tasks.
Also, to get an eminent, knowledgeable, and adept bookkeeper is like searching for a needle in a haystack. There will be many with a finance degree with ample experience, but those with proper skills and talent comes with substantial price tags. An average base salary of a Bookkeeper in the US is $18.99 (Source: indeed.com)
However, a Virtual Bookkeeper charges flexible prices in the year 2020.
Lower the Chances of Glitches
A small or medium firm cannot always appoint an employee to oversee the bookkeeping department alone. They will be given accounting, financial, and tax-related tasks. In this case, there are chances of causing errors as the in–house employee is multitasking. The big companies, too, can get the bookkeeping tasks all wrong because of the massive number of daily tasks.
Neglecting day-to-day bookkeeping tasks can even lead to unintentional errors. So, clean and clear bookkeeping is a constant effort. It is where a Virtual Bookkeeper Assistant can be of great aid. They use cutting-edge technology, automation software, and conscious labor to produce an error-free result.
Unbiased Consultation and Opinion Access
Anybody can find out the best practices of bookkeeping by searching online. However, it is important to gain fresh insights from the experts and unbiased opinions of experienced bookkeepers. A reliable virtual bookkeeper completes the tasks they are assigned and offers new perspectives on bookkeeping best practices.
Moreover, unlike an in-house professional, a Virtual Bookkeeping Assistant would be associated with many businesses and have the proper knowledge of modern techniques and skills to improve financial positions.
Get More Business Focus
You will never have enough time to perform revenue-generating tasks as a business owner or someone holding a top managerial position. How would you perform bookkeeping tasks regularly? The innovative idea would be to concentrate more on core business functionalities and outsource all the bookkeeping tasks to a reliable virtual assistant.
The advantage of entrusting bookkeeping tasks with an agency like Ossisto is that one can get other essential business services at a reliable price and get the benefits of Bookkeeping Assistants. Yes, at a packaged cost, an enormous number of tasks can be completed while busy professionals can focus more on the core activities.
Bring Creativity to the Process
Bookkeeping, as we all know, requires a professional to be good with mathematics and computer skills, discipline, commitment, and an eye for detail. But what would an extraordinary bookkeeper skill be? A person who brings creativity into the Bookkeeping process is a genius.
Whether creating an Excel Sheet, saving data, or making a presentation, there is always space for creative thinking in all junctures. Most often, non-specialists find accounting and financial documents truly boring; but creative geniuses will have a solution to it. A Virtual Bookkeeping Assistant in an organization like Ossisto is selected based on their creative and analytical abilities.
Strike the Right Work-Life Balance
Today, an accountant and a bookkeeper should collaborate to have a smooth process. It demands bookkeepers do more than what they usually do. Traditionally, accounting functions are overseen by a bookkeeper. Today, a single person is expected to do the tasks of an accountant, bookkeeper, and tax professional.
It affects the work-life balance of most employees employed in the corporate sector. It is one of the reasons why most professionals have chosen to give their services virtually. Account managers and in-house bookkeeping professionals can also find the right work-life balance by outsourcing extra repetitive and monotonous tasks to a Virtual Assistant.
The Sum Total
2020 saw the highest demand for Virtual Bookkeepers because of the Coronavirus Pandemic and its aftermath. Virtual Bookkeeping Services are available for everyday bookkeeping tasks and specialized business accounting functions.
Small businesses should leverage this opportunity to accomplish bookkeeping tasks within the intended budget. Big companies can save a lot during these challenging times by outsourcing accounting and bookkeeping tasks to a reliable agency and using the saved-up amount to cover other expenses.
So, do you want to know more about this topic and see how Ossisto can help you with your Bookkeeping processes?
About Ossisto Virtual Bookkeeping Assistant Services
If you want to grow your business, it is time to look for a trusted partner to increase leads and build revenue. Ossisto delivers virtual bookkeepers to all companies. We specialize in crafting unique techniques for businesses customized for your needs to thrive online.
Managing accounts for business require a user-friendly approach. With online businesses becoming more popular, handling the entire bookkeeping is arduous. It requires attentive eyes for detail and a sharp mind to catch flaws. At Ossisto, we offer various strategies in account creation, taxation, and online ledger management.
Suitable accounts creation, pitching reports, accounts analysis, and taxation are a few everyday tasks done by virtual bookkeepers. Ossisto’s virtual assistant bookkeeping services handle most of your accounts.
Here is how Ossisto’s virtual assistant bookkeeping helps you grow
· Creation of new accounts.
· We are embedding correct figures in taxation.
· Strategy building in expenditure cutting.
· Drive engagement and user-friendly platform.
· Create brand value with conversion.
· Performance evaluation and accounts improvement Ossisto’s virtual bookkeeping services can elevate your business to new dimensions. We provide virtual assistants for all types of companies that are better compared to AI modules. At Ossisto, we deliver virtual bookkeeping experts in the form of professionals for all kinds of businesses.
Ossisto has been a leading name in digital services and employing virtual assistants. We have assisted more than 500 clients and have answered 95% of calls within the third ring cost. The company also has the distinction of delivering over one thousand completed projects.
Virtual assistants can be trained to work with proficiency around the clock. It is an effective communication tool that can get into details of transactions and records that other accountants may miss. Virtual bookkeeping experts are proficient with Google, Microsoft, and other popular platforms.
Is Hiring a Virtual Bookkeeping Assistant Important for Businesses?
Most businesses have plenty of titbits of trim work that eats up too many work hours and workforce. Spending time on routine tasks will take time for business planning and analysis, which is essential for the company’s growth. However, everyday tasks do not require any intervention. Important work does require supervision, planning, and guidance.
Hiring a virtual bookkeeping assistant helps businesses from increasing the additional load of employees in their initial phase. Virtual employees can handle routine tasks like replying to emails, creating spreadsheets, or responding to common queries. Moreover, hiring a virtual employee proves more economical than hiring a full-time employee for routine tasks.
How to Hire Virtual Executive Assistants?
The first step before hiring a virtual employee is to assess your business needs. Virtual bookkeepers’ most common tasks are filing income tax returns, managing accounts, and data entry. In addition, a virtual bookkeeper can also reply to regular emails, keep accounts, and organize a database. The task details with a time plan will give you a fair idea of routine tasks.
Many companies are proficient in providing virtual assistants. However, it is advisable to do a background check on the virtual assistant company before getting into business dealing. Another way is to post a job listing on job sites to look for freelancers. The process may be cumbersome, and it might be challenging to get the right candidate by this mode. The best way is always to go for a reputed virtual assistant company who are proficient in getting you the right candidate. Ossisto is a well-established, reputable, and reliable partner in getting your company the best virtual assistants.
Why Choose Ossisto Virtual Bookkeeping Assistant?
Ossisto’s virtual bookkeeping services can elevate your business to new dimensions. We provide virtual assistants for all types of companies that are better compared to AI modules. At Ossisto, we deliver virtual bookkeepers in the form of professionals for all kinds of businesses. The company has the distinction of supplying over one thousand completed projects.
Virtual employees are practical communication tools that can see details of transactions and records that AI modules may miss. Ossisto’s virtual assistants are proficient with Google, Microsoft, and other popular suits. Here are some reasons to choose Ossisto services.
Country Based Location
We have proven and tested experienced members in different parts of the world. For region-specific assistance, we have specific arrangements like our virtual assistant USA are suitable for US companies and entrepreneurs.
Currently, we are giving virtual assistants in the US, Asia, and Europe. Having employees from country-specific areas is helpful for companies. It provides a frictionless onboarding process and gels with the local parlance.
Ossisto’s virtual bookkeeping services remote hiring team specializes in candidates’ recruitment and assessment evaluation. We conduct interviews and background checks before employing any virtual assistant. With complete remote hiring, you can reduce the company’s costs.
Get a Chaperon
Once we are committed to the business, you need not worry about anything. Our team of experts will guide you all the way. We give you the best virtual assistant services with excellent results that speak volumes about the credibility and quality of our services. You can get a trial offer and use our services if they suit your company.
We believe in your success for our growth. We don’t brag about our services; instead, we let our clients speak for us. You can talk to our customers and get unbiased feedback to evaluate our services. In addition, our company does not charge clients for virtual assistant software training. We provide expertise in widely used software with installation free of cost.
Steps to Hire Virtual Executive Assistant from Ossisto
Step 1 – Inquire.
Get in touch with our consultant to identify your needs. List out points to see if we fit your requirements. If yes, we will send you an agreement and assign a dedicated client consultant. There is no need to rush into a contract. Once satisfied with our executive virtual assistant service, give a partnership commitment.
Step 2 – Evaluate.
Evaluate all the pros and cons with our client consultant. Look at your tasks, tools, and requirements, and be assured how we will help you grow. We offer virtual bookkeeping services with a detailed report of merits and a time plan for assistant induction. We believe in transparency, and there are no hidden costs or false promises.
Step 3 – Placement.
Meet the placement team and select the top candidates from our pool of talented assistants. Our client’s consultant will interview and help choose the best candidate for you based on your requirement.
Step 4 – Kickoff.
Get a kickoff call with our assistant in the presence of a client consultant. It is deemed to be the official start of our partnership. You can set initial goals, communicate your plans, and look forward to success.
Step 5 – Onboarding.
Our client-consultant stays in touch to provide a valuable relationship service to guide you through our foolproof onboarding process. We are honed as the best virtual executive assistant services in the operations and administrative packages.
Step 6 – Follow up.
We will follow up to keep ongoing check-ins to support your framework. Through our partnership, we advocate a win-win arena for our clients. Ossisto’s virtual bookkeeping assistant service consultant will keep himself tagged on for expert guidance till you are satisfied with our services.
So, who are Our Remote Team Members?
Our US, UK, and India contractors have proven and tested experience employing virtual bookkeepers. Ossisto helps you get the apt professionals according to the region and client your company is based.
With complete remote hiring, you can reduce the company’s costs. Ossisto’s virtual bookkeeping services remote hiring team specializes in the technical evaluation and assessment of any website.
Get a Chaperon
Our team of experts will guide you all the way. We specialize in accounts maintenance and taxation and have delivered excellent results to small businesses in bookkeeping.
We don’t brag about our services. We know our success is linked to your growth. At Ossisto’s virtual bookkeeping services, we let our clients speak for us.
Who Can Use a Virtual Bookkeeping Service?
· Small Businesses
· Sales team
Our Other Services
1. Content Writing
We have developed content across industries with specialized blog services. We have a team of top-rated content creators across all niches. With thousands of satisfied customers and top-ranking content on the SERP, we at Ossisto are committed to delivering the best content-writing solutions.
2. Graphic Designing
At Ossisto, we provide comprehensive UI/UX services for websites and e-platforms. Supercharge your creative index with custom illustrations, presentations, digital ads, and graphic motion pictures. Put your brand the best face for a competitive acceleration and create a lasting impact.
3. Business Consulting
We are helping businesses grow across the United States and on four significant continents across the globe. Ossisto’s company consulting gives you the best business advisory and consultancy in the central business models. We are proud to provide the best business consultancy to our clients who speak volumes of our services.
4. Digital Marketing
Ossisto’s Digital marketing services provide performance services to businesses to access diverse media platforms. Our vast experience in digital marketing provides our clients with top
rankings in the SERP. Along with social media marketing, we provide the best SEO and google ads results.
5. IT and Website
With Ossisto, you get the best It and website services. Whatever site design you need, wherever you are in the world, and whether you are a freelancer or a business owner, we will provide customized websites. Our vision is to enable SMEs to use emerging digital technologies best.
Bookkeeping involves identifying, classifying, recording, and summarizing significant transactions. Outsourcing accounts with Ossisto keep you legally safe and on track in the fierce business competition. Apart from the legality of financial transactions, we give valuable analysis and help companies in planning, decision-making, and recording transactions.
7. Business Support
With Ossisto’s business support services, you get the best telemarketing, business delivery schedule, and logistics analysis. Your company can build an online business presence with enhanced customer interaction with our business support.
8. Virtual Assistant
Ossisto’s virtual assistant will take care of the tedious tasks and give you a much-needed break. Ossisto’s virtual assistants are trained professionals who can make calls, book appointments, and handle accounts. In addition, our virtual assistants are trained to handle all routine tasks.
In a vibrant, developing world expanding with new skills every day, businesses need to mechanize their process to stay in the competition. Virtual bookkeepers help improve most tedious tasks without errors. It saves time and money and makes your business transactions smooth.
Many reputed companies are serving their customers with satisfaction. However, it is best to check companies’ performance before getting into a contract. At Ossisto, we offer clients all solutions with efficient virtual bookkeeping. If you want to know more about Virtual assistant bookkeeping, don’t hesitate to contact us. You can also drop a message, and one of our team members will contact you.