4 Top Benefits of Hiring a Virtual Bookkeeper

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4 Top Benefits of Hiring a Virtual Bookkeeper
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• For small businesses and start-ups looking to
  limit their overhead, outsourcing their
  accounting and bookkeeping tasks makes business
  sense. They have the option to hire an onsite or
  virtual bookkeeper to perform these
  time-consuming yet essential responsibilities.
  While some SMEs feel more comfortable working
  with a part-time bookkeeper onsite, more and more
  businesses are turning to virtual bookkeepers
  because of the benefits they offer. So, if youre
  thinking of outsourcing work to a virtual
  bookkeeper, youre on the right track.

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• Functions of a Virtual Bookkeeper
• Although a virtual bookkeeper is essentially an
  independent contractor working online or
  remotely, they can help you stay on top of your
  accounting and bookkeeping needs just like an
  onsite employee.
• They are usually well-versed with QuickBooks,
  Peachtree, Xero and other accounting software and
  can perform the following functions

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• Account servicing
• Accounts reconciliation
• Balance sheet management
• Bank and credit reconciliation
• Budgeting
• Cash flow projection
• Daily petty cash management
• Implementing record-keeping and accounting
  procedures
• Inventory management

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• Maintaining accounts
• Maintaining cash flow
• Payroll processing
• Report creation
• Revenue and expenditure management
• Sales and purchase order management
• Trial balance maintenance
• Year-end accounting

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• Reasons to Hire a Virtual Bookkeeper Hiring a
  virtual bookkeeper comes with several benefits,
  including the following four
• 1. A fixed monthly retainer for no surprises
• One of the biggest perks of getting a virtual
  bookkeeper to perform accounting and bookkeeping
  tasks is that you dont need to worry about a
  surprise costs. benefits and the equipment that a
  regular employee is entitled to. All you have to
  do is hire a virtual bookkeeper.

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• 2. Free up more of your time for important tasks
• Even if you have an accounting background, it
  could be difficult to manage your business and
  keep track of your business finances, too. By
  hiring a virtual bookkeeper, youll have more
  time to devote to other important tasks, such as
  strategising, marketing or getting more investors.

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• 3. Stay on top of payments and collections
• By giving your virtual bookkeeper access to your
  accounts and invoices, and records of creditors
  and suppliers, they can check, update and follow
  up payments. They can also track receipts, note
  accounts payables and receivables, balance your
  accounts and give you an accurate picture of your
  cash flow.

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• 4. Monitor your KPIs
• Whatever your type of business, its essential to
  know your companys financial standing. You need
  three major reports to determine this cash flow
  statement, income statement and cash disbursement
  schedule. With a virtual bookkeepers help,
  monitoring your businesss KPIs becomes so much
  easier. So, are you ready to hire a virtual
  bookkeeper? Remember, getting a virtual
  bookkeeper on board is a highly cost-effective
  way of managing your business finances minus the
  expenses of hiring a full-time accounting
  professional.