Virtual bookkeeping - a smart way to invest in your business
What is virtual bookkeeping?
Virtual bookkeeping is a popular service that allows you to work with a part-time bookkeeper to manage your accounting. These services often also include consulting services as the in depth knowledge of your books provides much insight into the health and current standing of your business. Virtual bookkeeping is a way to get the help you need when you aren’t in need of a full time bookkeeper.
What is it like working with a virtual bookkeeper?
Your experience working with a virtual bookkeeper can vary from service to service, but there should be some similarities across the board. Generally speaking, you can expect to connect via email, phone, or video meeting to discuss your books. When signing up you will likely connect over phone or video for a more in depth conversation about what your needs are and what services you’re looking for. Once all parties are in agreement and paperwork is completed, you can expect a bit heavier communication in the first month or two as your bookkeeper continues to learn about your business. After that point, most bookkeeping services may send the occasional questions a couple times a month and have a monthly or quarterly check in to ensure their services are continuing to meet your needs.
Is it a lot of work managing a virtual bookkeeper?
The main goal of hiring a virtual bookkeeper is to free up you and your team's time so you can focus on running the business. There usually is more time commitment when initially signing up for bookkeeping services, however as long as clear avenues for information gathering are set between you and your bookkeeper additional management should be at a minimum. Talking with your bookkeeper when signing up for services about what to expect and clarifying how you both like to communicate is the best way to avoid issues and ensure both parties are benefiting from the agreement.
Will I lose insight on my financial situation if I’m not managing my accounting?
While there is something to be said for being more knowledgeable on a situation when you’re actively having to manage it, hiring a bookkeeper can give you the opportunity to analyze your financials from a higher level while they can handle being in the weeds for you. You’ll still have all the same access to information as before, but it will already be curated for your review. If you’re worried about being out of the loop, you can request a monthly review of certain reports with your bookkeeper to ensure you have a regular check in point for the financial health of the company.
Why should I hire a virtual bookkeeper?
Hiring a virtual bookkeeper allows you to work with someone who’s knowledgeable in the field, saves you time, is a cost-effective option, and provides an opportunity for a service that can grow with your business as needed.
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!