If you are a startup and having difficulty in managing your bookkeeping activity, don’t panic. Hiring a full-time CFO is not your only option. For those looking to maximize their bookkeeping and accounting functions, there is an option of opting for Virtual Accounting Services which would also lead to a significant saving in cost and time.
What Does Virtual Accounting Service Mean?
Virtual accounting service is the online version of the accounting services you get from your accountant. The companies which provide this service have a group of qualified accountants and financial professionals who are well versed in this field and can provide reliable accounting services from journal to financial statements, all essential bookkeeping services offered by these companies. The process is mainly online, where you have to send them the invoices, purchase memos, and other bills and they will keep track of every penny you pay and get in the books of accounts.
Whether you are a startup, an individual firm, or even a multinational company, you can opt for Virtual Accounting Service. Here are the reasons why choosing for Virtual Accounting Service for your firm can prove to be beneficial:
Unbiased and Fraud-less Services:There is always a possibility of personal bias involvement leading to frauds when a bookkeeper has a direct interest in your accounting books. Some small frauds such as the inclusion of personal expenses as the firm’s expenses are challenging to detect and track.
However, hiring Virtual accounting services would mean very low possibilities of fraud since a remote accountant would have no direct interest in your accounting books. Most Virtual accounting service provider companies double-check their work before sending it across, thus leaving no room for fraud.
Updated Technical Support:
Accounting today has become one of the most technology-oriented industries. All the latest technologies, such as Artificial Intelligence and Blockchain, are adopted by the accounting industry. However, it is challenging for a small business or a startup to invest in the latest technologies and upgrade them frequently.
On the contrary, Virtual accounting service provider companies invest in latest software and also regularly update them. Thus, by hiring them you would also be getting the updated technical support and services from trained staff.
Minimize Costs:
Normally, most small businesses and startups hire junior accountants to look after their bookkeeping in order to save costs. This often leads to bookkeeping that has flaws and errors.
However, Virtual Bookkeeping companies hire professional and talented accountants. Thus, you don’t have to worry about the level of experience, while your cost will also be reduced at the same time. You can also get a QuickBooks Setup which would prove to be very effective for your business.
While the concept of Virtual Bookkeeping and Accounting Services is quite new, it is quite convenient and of course, cost-effective. Smart Business Consultants is a smart service provider for startups and small businesses. The company provides Bookkeeping, Payroll and CFO/Controller services for businesses all over the USA. Whether you want to opt for Virtual Bookkeeping Services, Quick Books Bookkeeping Services, or get an outsourced CRO/Controller, Smart Business Consultants have the answer for your needs.