What is virtual bookkeeping?
A virtual bookkeeper handles your books of accounts remotely. You can have access to your business information anytime and anywhere through cloud-based software. You can communicate anytime without compromising your time and space. They are like any individual bookkeepers belong to your company or any accounting firm hired, but the difference in the kind of service one gets we things are done remotely. They classify your transactions and prepare financial statements for your business.How virtual bookkeepers are different from the local bookkeepers?
Traditional a company must hire a bookkeeping staff or outsource a bookkeeper from an accounting firm and then they were given accounting records of each month for categorizing and passing entries in your books of accounts. Though they use accounting software for delivering you the work, still lose to the service of a virtual bookkeeper. That’s why many businesses are now opting for virtual bookkeeping service.Virtual bookkeeper vs Local bookkeepers.
- Paperwork: While working with local bookkeepers, you deal with a lot of paperwork such as receipts, payments, bills etc. to deliver them, but since virtual bookkeepers are serving remotely you need to either take a snap or scan the copy of the necessary documents.
- Mobile access: Your bookkeeper may not use a software that is mobile friendly so, you cannot have access through your mobile phones, a Service provider like Meru accounting have a mobile app that let you access the records any time.
- Online business accounts experience: Not every local bookkeeper are versed with the online business such as e-commerce or services like PayPal and not a solution to all industries, but Virtual bookkeepers are experienced and well-versed with bookkeeping as they provide a tailored solution.
- Tax preparation: A local bookkeeping won’t assist you in tax fillings, Virtual bookkeepers like Meru accounting can assist you with different compliance and tax fillings process.
- Cost-effective: We might think to outsource a local bookkeeper or virtual bookkeeper for US-based business in US only, but that would cost you too high, our cost is only $US 10 per hours plus you get a free 6 Hour trial service.
Software
Most freelancer bookkeepers and local bookkeepers use software that you may not be familiar to, you have to get familiar to check your accounts. But with us, we can don’t spare time for such thing as we use software like Xero, QuickBooks with customized apps to make it client-friendly. There is no denying that bookkeeping is one of the essential activities for any of the businesses. It keeps all the financial information regarding your business in a very proper format. If you have a business in the US, then you have to be very particular regarding your commercial recording. Bookkeeping helps to know the actual financial health of the company in a very structured way. Maintaining the bookkeeping of the business becomes quite time-consuming tasks for small and medium businesses. They need to put effort and resources to maintain bookkeeping for their business.Virtual bookkeeping for US-based business
Several businesses in the US are shaken heavily because of the high volatility in the market. Small and medium-sized businesses find it challenging to sustain these situations. They usually end up making massive losses, so it is significant for the businesses here to concentrate dedicatedly on the growth of their business. Some businesses handle their bookkeeping activities in-house. However, in-house bookkeeping handling leads to taking a lot of time and resources. also chances of inefficiency in the quality of the bookkeeping service provided. Here, outsourcing the bookkeeping work to a third-party organization can lead to lots of benefits for the business.Here are some benefits of outsourcing bookkeeping services to a third party agency:
- Managing all activities under one roof There are a lot of financial activities in the businesses like Accounts Payable, Accounts Receivable, Bank reconciliation, the payroll of the employees, tax payable, etc. which has to be recorded properly in bookkeeping. A third party will maintain all these records properly for your business. Thus, the businesses get much relief from all these important daily activities.
- Saves space and cost Maintaining the bookkeeping activities would need extra staff for handling all the bookkeeping activities. Also, hiring these staff would need space in the organization, and they even need to be paid. Bookkeeping work to a third party will help the business from saving the space as well as extra money for their staff.
- Quality service The third-party specializes in maintaining the bookkeeping activities of several businesses as they have expert qualified people for maintaining the bookkeeping activity. They will also provide better quality bookkeeping services to your business where you can get the proper insight regarding your business. They have a standard format of high-quality reports as per the need of the business.
- Foster business growth Delegating the bookkeeping work to a third party agency can relieve business owners from bookkeeping activities. This will help them to concentrate more on growing the business and explore new opportunities. This will help to increase the business revenue to a greater extent.
Meru Accounting virtual bookkeeping services
- Professional and Experienced bookkeeping team.
- Tax filling assistance and compliance with different tax laws.
- Payroll, invoicing, sales tax, federal tax and tax add-ons.
- Xero certified silver partner.
