How does Virtual Bookkeeping Work?
How do I get a virtual bookkeeper?
Getting a virtual bookkeeper works like most other online services, you’ll want to do some research, talk to friends, and know what particular parts of your business you’re wanting a bookkeeper to take over for you. You’ll then want to reach out to your top candidate, or potentially 2-3 top candidates to see who is the best fit for your needs.
How often will I need to communicate with them?
Communication with your virtual bookkeeper will vary depending on the complexity of your business, how long you’ve been working with them, and how in the loop you’d like to be. It’s fairly common for there to be communication most days of the week for the first month, then petering out to once or twice a month if all necessary access to documentation has been automated with your bookkeeper.
What services will a virtual bookkeeper provide?
The services provided by a virtual bookkeeper vary from company to company. Different bookkeepers have different comfort levels with the varying tasks associated and they want to ensure they’re providing you great service with what they’re best at. Because of this, it’s important to consider what services you’re looking for help with so you can ensure that the provider you select can accommodate them.
At Golden Hive Bookkeeping we provide a number of different services, if you’re looking for something that’s not listed it doesn’t hurt to reach out anyways to see if we can accommodate it!
What will I need to give them access to?
This will depend on what services you’re looking for your bookkeeper to manage, but generally speaking you will likely need to give them access to your accounting software and to your bank statements. If you have additional data you’re wanting sorted or cleaned, such as expense reports or receipts, you’ll need to provide virtual access to this information as well.
Do note that you should not give your bookkeeper a full access account to your bank account unless you have carefully thought through that decision and have an established relationship. Check with your bank to see if you can create a read only account for them to utilize.
Can I work with a virtual bookkeeper if I’m not using cloud based software?
Most virtual bookkeepers will not work with you if you are not using a cloud based software. This is not always the case, but you will need to set up a remote connection to the server that is hosting your accounting software in order to provide them access. If you are looking for someone to join you in your office to work on your books a virtual bookkeeper is likely not the right fit for your needs.
If you are working out of excel spreadsheets you may consider moving your data to google sheets so they can be viewed online for ease of access. Many virtual bookkeepers can also assist with transitioning you to their recommended cloud based accounting software for a fee.
Will a virtual bookkeeper come to my office?
Most virtual bookkeepers will not visit your office to work on your books. Generally speaking, most virtual bookkeepers chose that line of work to accommodate a fully remote lifestyle and are anticipating that with their clients. Occasionally there may be a reason for an in office visit, but it should not be a commonplace expectation.
Will a virtual bookkeeper process my paper receipts?
Some virtual bookkeepers will help you design processes to get your paper receipts digitized so they may access them, but many will not want to handle your physical receipts. This does vary from service to service, and if this is something you’re looking for it’s worth asking to see if that’s something that can be accommodated.
How expensive is a virtual bookkeeper?
As you may have guessed at this point, it varies quite a bit from company to company. In addition to that, the services you're needing and the size and complexity of your business play a large role in the pricing. Most virtual bookkeepers will charge a per month price at a flat rate. This can vary from as little as $100/month for very simple services to $2000 or more a month for more complex or plentiful services. A rule of thumb some bookkeepers may use is 2-3% of your annual revenue, so you can use that as a starting point for gauging a price.
Interested in hiring a virtual bookkeeper?
Golden Hive Bookkeeping specializes in providing accurate bookkeeping, accounting, and consulting services for small businesses in the pacific northwest. We are happy to provide a free one on one consultation to give you more insight on how we can help you in this facet of your business!