You've started a business? Wow.
You've set up shop.
You've produced a few products.
You might have even sold a few!
Profits rising; success imminent!
When your business starts seeing success, your to-do list tends to grow.
No, really, it grows a lot.
And when it comes to an important task of bookkeeping, you can't afford to skip out on the things you're good at and do a bad job.
That can cause serious harm to your business:
Poor financial organisation can prevent you from having a clear budget
It can make tax time a stressful period
And it prevents your from knowing how your business is actually doing.
How are you going to know if it's successful, then?
That's exactly why I suggested a bookkeeping virtual assistant to my client.
4 months ago, they emailed me in a panic:
Our cash-flow is chaos.
I don't have any time to do the bookkeeping myself!
And if I did do it, it would be wrong - and I daren't think what would happen if it was
Their tax returns were incorrect, and they overspent on their budget - it was serious financial problem.
They didn't have time to run the numbers themselves, and they didn't even know how to!
So, having suggested a virtual assistant to take care of their bookkeeper, I found them a perfect match for their small marketing company.
And now? They've witnessed a 37% increase in profits.
They could finally get back to what they were best at - running their business!
Fancy seeing the same for your business?
(Course you do.)
That's why I've brought together the ultimate guide to finding a great virtual assistant bookkeeper. This article will cover:
- What virtual assistants are
- What bookkeeping tasks they can do
- Why you should outsource your bookkeeping
- How you can find virtual assistant bookkeeping
And if you're still a bit stuck, I've provided a handy Frequently Asked Questions to bust your queries on both bookkeeping and virtual assistants.
Isn't it obvious?
They're an assistant, and they're virtual!
Okay, fine, here's a better explanation:
Virtual assistants can do any job you hand to them, and they do them online.
You ask them to do a task, send them the relevant documents, pay em, and wait for the completed work.
Read More: Wikipedia On Virtual Assistants
Need someone to take care of your customer service?
Desperate for data entry support?
Praying for someone to fix your social media profiles?
It's the brand new way to do work, and is becoming an ever-popular tool for businesses just like yours.
And it's all because you can easily choose them based on their skill sets.
Just like for bookkeeping!
You can vet their experience, expertise, and knowledge of bookkeeping, ensuring you're getting a top-notch assistant who will do a top-notch job.
This is all because there are 2 types of virtual assistant:
|General Virtual Assistant||Specialised Virtual Assistant|
These VAs take on everyday tasks that are necessary to keep the business afloat, but not necessarily to sail it.
This doesn't involve specialist knowledge.
Tasks typically include scheduling appointments, sorting your inbox, data entry and research.
These VAs have the specialist knowledge that exceeds your own.
They essentially become their own department and take control of something you can't do.
Tasks include controlling your social media and bookkeeping.
So, if you've got a task, you can outsource it to a virtual assistant.
Virtual assistants can clearly do a lot.
Look what they did for my client!
(Reminder: they increased their profit by a seriously crazy amount!)
But before we discuss all the great bookkeeping tasks for you, let's define bookkeeping first:
Bookkeeping is the recording of all your business' financial transactions, and is considered a component of accounting.
These transactions can include the purchases, sales, receipts, and payments made by a business. It's then the accountant that creates their reports from the information that has been recorded by the bookkeeper.
Money makes the world go around, right?
That means ensuring that a skilled bookkeeper is in control of recording your finances is not just important
It's a necessity!
Poor bookkeeping equals poor accounting.
And that equation doesn't add up to success.
So, to convince you to hire a VA to do your bookkeeping, here's all the tasks they can do for you (and all the tasks you don't have to worry about anymore!):
Making sure your bills are paid, and paid on time
Preparing balance sheets
Preparing invoices and general ledgers
Reconcile bank and credit card statements
Mailing payment reminders
Maintaining your financial software
Entering the payables and receivables
Reporting your sales tax
Interpret financial statements
Deal with delinquent accounts
Mailing invoices to customers
Finally, you can ditch the complex tasks, and skip straight to success!
Plus, your virtual assistant bookkeeper will work closely with your accountant and finalise your financial needs.
And that means no more running the numbers.
(Well - no more trying to, anyway.)
Virtual assistants are brimming with benefits.
Not only is it the up-to-date method of running a business, it can save you time, it can save you money
And it adapts to your business needs!
Yep, there's a lot.
That's why I always recommend them to my clients - no matter their needs or their problem at hand, there is a virtual assistant that can provide a low-cost solution to it.
So, to help convince you to hire a virtual assistant to do your bookkeeping, I thought I wouldn't just summarise the benefits of hiring a VA.
In fact, I thought I'd also summarise the benefits of hiring a VA to do your bookkeeping!
First up, here's all the reasons you should have a VA:
They are low-cost
Bookkeeping means you can keep control of your finances.
But improving your financial situation doesn't stop there:
VAs are a popular component of running a business because you don't have to hire a full-time employee.
That means no more forking out for a wage.
No more scraping pennies together to pay for an extra laptop.
And no more squeezing an extra person in your super-small office.
My client's marketing company was so small, they were working from home! That's right, all their employees worked remotely
So, by outsourcing their bookkeeping, they could lower labour costs and simply receive brilliant bookkeeping.
They can improve your business' efficiency
Like I said: when my client emailed me, they were stuck.
They didn't know how to use Excel.
They weren't sure how to run the numbers.
And they barely knew the tasks they had to do for bookkeeping!
They were a graphic designer - if they weren't on photoshop designing the next Facebook ad, they were wasting their time!
By hiring a VA, they could stick to what they were good at, and let their VA do the same.
Last time I checked, increased efficiency was a good thing!
They ensure that your office is always open
Your virtual assistant could be on the other side of the world.
That's right - thanks to the wonders of the internet, your VA could be 30 or 30,000 miles away!
As long as they speak the right language, have the skills and experience, they can work for you.
And you know what's really awesome?
When you look for a virtual assistant, you can clearly see all of these things.
My client worked in the UK, and saw a VA that worked in Australia.
See, this wasn't a problem - this was a benefit!
As they work in a different timezone, when my client's office closes, they're just starting to get to work.
No more 9-to-5. Take things 24/7!
They're a flexible tool for your business
Remember when I mentioned that VAs are a low-cost solution to your business needs?
Well the money saving doesn't stop there.
Having a tight month? Struggling to stay within your budget?
Simply don't hire the VA!
Virtual assistants rates are typically by-the-hour, meaning you can easily budget your usage.
And hiring and firing at ease is just another benefit. No awkward meetings, and no guilty feelings
Start saving, and stay in control of your finances.
Oh, and guess who can help you stay in even greater control of your finances?
(Answer: a virtual assistant bookkeeper.)
Sounds good, right?
What about hiring a VA to do your bookkeeping in particular?
Prepare to be amazed by all the benefits of virtual assistant bookkeeping
You can get an experienced bookkeeper
Did you know that it was 2 am when I got that email from my client?
Yes, they were in a pickle.
The stress of being overloaded with it, and the panic when it just wasn't working was simply too much.
The first thing they said was that they didn't know how to do their own bookkeeping.
But that's what's great about outsourcing your financial tasks to a VA:
They can do your tasks, and they can do it well.
You can even easily pick the VAs based on their experience and expertise, and pick the one you want!
You can find a VA that will be trained in your specific bookkeeping system
Speaking of experienced bookkeepers, if they know bookkeeping inside out, chances are they will know the system you use.
All you have to do is give them the logins, and let them get on with it!
Take my client - they used Xero.
Well, I say used... they tried to!
All they had to do was scroll through the VAs and click hire' for one that said they were versed in Xero.
No training needed, no chance of mistakes - only high efficiency work.
You can determine which virtual assistants have experience with businesses just like yours
Like I said - you can see the experience that the VAs have had.
Most of the time virtual assistants work with small or medium-sized businesses.
So, my client was very happy to know that virtual assistants can easily adapt to business just like theirs.
They could find a virtual assistant that knew small business bookkeeping like the back of their hand
Hey presto - they were a match.
Finding a virtual assistant can be complicated.
And finding a specialist for a task like bookkeeping?
It's a whole other ball game.
There's many-a-method to finding a virtual assistant:
You could search for their social media
You could put up a job posting on a jobsite and wait for the applications to roll in
Or, you could check out an agency that brings together experienced VAs that you can easily assess, chat to, and pick from.
I just don't have time for that!
That's what my client said 4 months ago before I found the perfect VA for them.
And that's what I'm going to do for you!
(You can thank me when you're really successful.)
I've brought together the top-rated VA agencies based on their ratings, rates, and defining features.
And each one specialises in Virtual Assistant bookkeeping!
|I Need a PA||Belay Solutions||Acelerar|
The cost-effective VAs and simple procedures for hiring them are often brought up in the reviews. And for something as important as bookkeeping, this is key.
The matching-up process of bookkeepers and VAs is a popular benefit of Belay. It makes for a close relationship and good communication - you need this with bookkeeping.
Reviewers loved the low-cost rates on offer as well as the quality of the assistant. Their quick learning and get-it-done attitude made for highly efficient and high-quality work.
||$||25.77||$|| per hour.
||$||479.85||$|| is the weekly rate (25 hours)
||$||38||$|| - ||$||45||$|| per hour.
Plans start at ||$||560||$|| a month.
||$||6||$|| - ||$||9||$|| per hour.
Plans start at ||$||180||$|| per month for 20 hours.
You can hire a bookkeeper on the same day as finding them, and they even specialise in support for start ups! Need super-fast support? You've got it.
They focus on finding experienced bookkeepers who have at least a bachelor's degree, and have proven experience in careers. And you can trust that!
Acelerar specialises in financial services like accounting and bookkeeping. This means that only specialists with the necessary experience on offer.
What's The Difference Between Bookkeeping And An Accountant?
Accounting - or accountancy - is the measurement, the processing of, and the communication of financial information about economic entities. Due to its complex nature, it typically gets confused with bookkeeping.
Bookkeeping, on the other hand, is the recording of the financial transactions that the accountant then uses for their role. However, bookkeeping is considered to be apart of accounting.
What Happens If I Do My Bookkeeping Incorrectly?
Poorly executed bookkeeping won't just prevent you from having a clear and accurate budget to stick to.
A whole host of legal issues tend to accompany poor bookkeeping: your creditors can sue your business if you don't pay them, and you can be on the receiving end of heavy penalties for improper deductions and late tax filing.
Don't forget the risk of debt problems ! Missed or late debt payment can cripple your business credit report, hiking your interest rates and giving you unfavourable payment terms.
Failing to pay suppliers - a common consequence of poor bookkeeping - can even result in your business losing sellers.
The final consequence is at the root of all these problems - with limited financial data, you won't be able to make accurate financial decisions. By having high quality bookkeeping, you can identify your business' financial weaknesses, strengths and opportunities.
Then you can make your next business move.
Money makes the world go round - and staying in control of it matters!
Are Virtual Assistants Trained In Bookkeeping?
Typically you can vet virtual assistants based on their skills and experience, and can use this information to deduce if they are at the standard you expect for your business.
Virtual assistants are often trained by the respective agencies, or the agencies only accept virtual assistants of a specific level of experience. Often this is based on their degree level, such as having a bachelors in their specific field or having a minimum number of years of experience.
How Do I Communicate With My VA?
Do you have the internet? 'Course you do.
Well, that's how you communicate with your virtual assistant. It could be pinging them an email, giving them a phone call, or having a skype conversation every morning - frequent contact is key.
And because they work via the internet, this contact has never been easier.
So there we have it.
You know why you should hire a virtual assistant.
You know why you should outsource your bookkeeping.
And you even know how to find a virtual assistant to outsource it to.
Or you could skip all that, and we can do it for you!
All you have to do is grab that quote.
So, which tasks are you looking to outsource to a virtual assistant bookkeepers?
And what are you looking forward to not doing anymore?