Is it Time to Take Your Accounting Team Virtual?
Since accounting staff plays a crucial role in your organization, having a talented team matters. Your accounting professionals make sure the lights stay on, and your employees get paid.
If you are preparing to add to your accounting team, it may be time to consider whether a virtual accounting professional is a good fit. Whether you are looking to fill a gap in your team or are a small business owner ready to outsource some accounting tasks, adding a virtual role to your team might be the perfect solution.
How Do You Know What’s Right for Your Business?
First, determine the kind of help you need. Most companies utilize the services of both an accountant and a bookkeeper. What's the difference?
- A bookkeeper keeps organized records of all of your transactions. This way, you can easily access all your financial data when needed. They will pay your bills, execute payroll, and prepare invoices. A bookkeeper is involved in the daily operation of your company. They account for every dollar that moves through your books and manage finance-related tasks.
- An accountant uses financial data to develop a comprehensive picture of your company and create a plan for the future. An accountant is an essential part of your business and a person you need to schedule time with periodically to stay on track. They can often prepare your business taxes using the information from your bookkeeper.
When is the Time to Hire Virtual?
Once you know what type of help you need, the next step is figuring out when it’s time to hire the perfect fit. If any of the following scenarios resonate with you, it's time to pull the trigger and find an accountant for hire or virtual bookkeeper for hire.
You are in a Season of Growth
If your business has grown to the point you struggle to keep up with your bookkeeping, it is time to hire a virtual bookkeeper.
Often, small business owners try to do it all. On top of daily operations and planning for the future, there are a million administrative tasks to tackle. The easy thing to let fall through the cracks is bookkeeping.
Growth also indicates an opportunity to reconvene with an accountant. Understanding what growth means for your present and future will give you a plan to move forward.
Many people find that they are simply not cut out to handle their own accounting tasks. It is detailed and requires a specific knowledge base. When you find your accounting practices are over your head, it's a great thing to outsource so you can free up some time and energy.
Your Time is Stretched Thin
Even if you know how to handle your accounting tasks yourself, often your time is better spent elsewhere. Imagine everything you could do with your time instead of managing your books and handling payroll. Few tasks are as easily delegated as your accounting, making it one of the easiest things to bring in help for.
Your time is valuable. You should be dreaming about the future, investing in your team, connecting with clients, and executing essential functions. If you find that you are pushing aside the things that matter most to work on invoices and payroll, now is the time to hire help.
Your Bookkeeping isn't Getting Done
If you are at a point where your basic bookkeeping isn't getting done, today is the day to hire help. Inputting receipts and tracking expenses is easy to put off, but when you do, it creates a backlog of work. Do your future self a favor and stay on top of your bookkeeping.
If you are continually behind, you likely don't have the time and resources to keep things up to date. It's the perfect excuse to remove the task from your plate and hire a virtual bookkeeper.
You Need Expertise
If you are encountering problems with your accounting that you feel ill-equipped to handle, delegate your accounting to a professional. Many small business owners can manage their own books for quite some time before encountering a problem that needs a professional.
Adding an accounting professional to your team also gives you the gift of an expert's knowledge and expertise. Your team gets better every time you add someone with a specialized skill.
You Would Benefit From Cost Savings
A massive benefit to hiring virtual accounting staff is the cost savings. When you hire freelancers for virtual help, you open yourself to a world of possibilities. You can hire someone who comes with everything they need to start working from home. This saves you money on office space, the cost of benefits, and office equipment.
If you really need an affordable way to acquire the help you need, consider hiring from a low-cost living area, where a liveable wage translates to less money out of your pocket.
You are Ready to Go Paperless
If you are ready to take your company the paperless route, it's the perfect time to connect with a virtual accounting team. Migrating to virtual record keeping will cut down on clutter, make your records easy to find and access, and allow you to hire virtual accounting professionals.
While going paperless can seem like a daunting challenge, most businesses find that after the initial adjustment, it's a vast improvement. This switch presents the perfect time to bring in a professional to help with the transition and develop the perfect system to use moving forward.
Need Help Finding Accountants to Hire Virtually?
Hiring freelance, remote employees has never been easier. Companies like yours can benefit as the workforce takes control of their careers by moving to freelance work. A wider talent pool, lower labor costs, and easy hiring are just a few benefits of hiring virtual employees. All you have to do is visit a freelance marketplace, where you can be in contact with a variety of bookkeeping and accounting professionals from all over the world.