How to hire a bookkeeper for your small business

virtual bookkeeping

Virtual bookkeepers can work with companies of all sizes and sectors, including independent business owners and small businesses with a few employees. They can offer specialized bookkeeping services based on the client’s requirements, spending limits, and expectations. In-house teams use it to streamline their processes — data entry, bill payment, budget management, and more. Virtual bookkeepers use it to expand their offerings and provide even better service to their clients. Learn how you can use BILL’s accounts payable software to automate your processes.

virtual bookkeeping

You can promote videos, images, or offers to people by age, interest, behavior, and location — needless to say, it’s the most targeted type of advertising. To discover guest posting possibilities, go to your favorite industry blogs, and see whether they have information about guest-posting. Or, you can type in accounting + “guest posts” or “contribute” into Google — and see what opportunities come up.

How to assess virtual bookkeepers

Ignite Spot Accounting delivers heftier reports than many other cloud accounting providers we checked out for this piece. Along with typical financial reporting (like profit and loss reports and balance sheets), you’ll get a KPI (key performance indicator) report and profitability analysis, among others. However, Ignite Spot doesn’t list its virtual accounting prices upfront.

An accountant may perform all the same tasks as a bookkeeper plus additional advisory responsibilities. In addition to data entry and reconciliation, an accountant provides key financial statements to business owners and stakeholders. Those include profit-and-loss statements, balance sheets, and anything else a business owner might need to do their taxes. These days, we live in an on-demand economy and thrive on being connected on the go. Connecting with a bookkeeper from wherever your work takes you means you get answers when you need them most.

For pricing, we considered whether a service offers a free trial or a free version of its software as well as the affordability of its lowest and highest price tiers. QuickBooks Live is best for business owners who want to get their bookkeeping in order but don’t have the time or resources to do it. After setting up your accounting system, you can collaborate with your bookkeeper or accountant using the cloud-based Bookkeeper360 platform. They record all the tax-related information that applies to your company and can even assist you in timely tax filing. They help you even more by consistently making your payments on time.

  1. Our intuitive platform is designed for business owners, not accountants.
  2. Not all bookkeepers can prepare taxes, for example, which requires an IRS Preparer Tax Identification Number (PTIN), and many tax filing professionals have only limited rights.
  3. You can make payments, deposit checks, and schedule transfers from anywhere, and it takes a few minutes to open an account.
  4. So it’s important you make timeliness and accuracy a critical part of your business.
  5. A virtual bookkeeper’s job will include some data entry and receipt tracking.

You have to enter more information about your needs to get a quote—which is useful if you want truly customized services but unhelpful if you’d rather choose a basic plan out of a lineup. But there’s more than one virtual accounting company in the world, and solutions range from on-demand CFO services to simple pay-by-the-hour book balancing. Below, we review the best virtual and outsourced accounting services for small-business owners like you. Forbes Advisor analyzed 13 online bookkeeping services and considered 15 metrics such as price, features, customer service, ease of use, integrations and service level. We also looked at real customer experiences to determine if their expectations were met based on what each company promised.

Live Bookkeepers you can trust

Outsourced, virtual bookkeeping can cost as little as $150 per month and as much as $900 (or more) per month. Some companies charge by the number of accounts you need them to manage, while other companies charge based on your company’s monthly expenses. Typically, the lower your expenses (and the fewer your accounting needs), the less you’ll be charged. It also starts at $190 a month, which is less than nearly every other provider on our list. Online bookkeeping services can save business owners both time and money.

Bookkeeping goes well beyond organizing your bank and other financial statements in the right folders. With solid bookkeeping practices, you have a better idea of which invoices clients need to pay and which vendors you need to pay. When you have a better idea of when money is coming and going, you can get ahead of potential cash flow issues.

virtual bookkeeping

Look, we don’t want to toot our own horn — but if you need more help on getting started in bookkeeping, you’re in the right place. There’s no need for a paper trail — you can log in to make sure they make proper entries, reconcile accounts and bank statements, retrieve statements, and more. This helps you keep clients files organized, protected, and backed up on a cloud you can access from anywhere. For example, you can get a customized website for your business with SavvySites. They work exclusively bookkeepers, and can create a site designed with your logo, images, and content.

Why QuickBooks

GrowthForce accounting services provided through an alliance with SK CPA, PLLC. For example, a marketing and advertising agency likely handles its own sales, but would work with an outside design firm or freelancers for graphic design needs. Conversely, rather than hiring full-time employees, that same design firm likely contracts an outside marketing agency for their marketing and advertising needs. For each of these services, you can book a consultation call to get in touch with the company and onboard your virtual bookkeeper. If your business has multiple workspaces, in-person bookkeeping professionals can be an inefficient solution. Having a single bookkeeper who covers all your offices means lots of time wasted traveling rather than working on the books, but hiring a bookkeeper for each location is a significant expense.

If you want to sell yourself to potential clients, you should know how valuable you are to their small business. Thanks to new cloud-based technology, you have the opportunity to reach a broader audience. Receiving documents by fax, face-to-face client meetings, paper receipts — all of these are now a thing of the past. Accounting principles change country-by-country, but bookkeeping is a universal language spoken the same no matter where a client is based.

Zeni: The Virtual Bookkeeping Service Built For Startups‍

At Zeni, we take efforts to build strong client relationships, and our finance team is adept at providing the guidance that new businesses need to stay focused on growth. These days, most local options use the same bookkeeping software as virtual bookkeepers. By syncing up with your bank accounts and credit cards, the software allows bookkeepers to automatically record transactions, categorize them, and create financial reports. Larger businesses may also hire virtual bookkeepers, but they’re more likely to have their own internal department for accounting services. “Virtual bookkeeping” refers to online bookkeeping services that perform these tasks remotely.

Save Time and Money by Reducing In-House Costs

Bookkeeping is one of the many specialized tasks that business owners take on while they start and grow their businesses. One of the biggest challenges for bookkeepers lies in handling credit card receipts. All too often, these are delivered in bulk, leaving the bookkeeper to sort them out. Each receipt represents money that has already been spent, and the bookkeeper is tasked with bringing the books up to date, categorizing each expense and attributing it to the right department.

Browse the Pros to find the bookkeeper who’s right for you and your business. If you have employees or contractors, try applying the hourly rate of the one whose time costs the most. If you’re ready to have bookkeeping taken off your hands for good, give Bench a try. You can also message your bookkeeper directly if you have any questions or need to upload any documents. Interact directly with your bookkeeper using one-way video and virtual screen share. See website for more details.[1] QuickBooks Live Assisted Bookkeeping[2] QuickBooks Live Full Service Bookkeeping[3] QuickBooks Live Assisted Bookkeeping requires QuickBooks Online subscription.

It’s these types of questions your clients will have in and around data security. Your goal is to make them feel secure with leaving their most valuable the differences between managerial and financial accounting company information in your hands. In the early days of accounting, we relied on the abacus then PC’s and floppy disks to show our work to clients.

Small businesses often schedule video appointments once or twice per month to discuss questions and to review results. You’re limited to one scheduled appointment at a time and appointments have to work within your bookkeeper’s schedule. Communications that are available any time include document sharing and live chat with a member of your bookkeeper’s extended team. Virtual bookkeepers are frequently seasoned professionals with accounting or finance backgrounds. They are proficient with accounting software and have a solid grasp of accounting concepts and procedures. They might have an accounting degree or have credentials like the Certified Bookkeeper (CB) designation.