Virtual accounting and bookkeeping mean hiring an online company to perform accounting and bookkeeping operations for your business against some amount. Businesses in USA, UK, Canada, Singapore and other western countries, to get low-cost resources, outsource there bookkeeping in developing countries where per capita income is little and professionalism is higher.
Small businesses require a complete team of professionals such as accountants, bookkeepers, financial planners, and investment advisors for the upkeep of their business. Instead of keeping an in-house team of professionals, companies prefer to have Virtual Bookkeeping and Accounting. If you are the proprietor of a small scale business, CEO of a private limited company or owner of a shareholder of a public enterprise, a virtual bookkeeper is your solution.
How virtual accounting and bookkeeping is your key to success, here are details:
Accurate and in Time Financial Reporting:
Virtual bookkeeping and accounting firms, report you regarding cash flow, payments, receivables and other processes happening inside a company, on regular basis- at the start of every month. These reports are not generated by using the only software in fact, each reporting process has been supervised by the professionals of the company in order to give you accurate and bug-free accounts.
Free CFO Services Along with Virtual Accounting:
A good company provides virtual accounting along with free CFO service. What is a CFO service? Well, CFO is the chief financial officer or you can say ace of a finance company. CFO is the person who will help you understand the market scope related to your business and attain market strategies. Along with this, he will also help you in analyzing financial reports generated by the company.
CFO lets you choose the options by using which you can get the most out of your business. Newsletter, emails, and telephone lines are the options by using which CFO will communicate with you.
No More Struggle with Job Prices Costing:
Job costing refers to a process of evaluating products to be produced and the money to be invested. The decision of price costing is very crucial and at the same time tough to make. The CFO advisor will help you in the process of job costing and so you will be able to decide the volume and cost of production. Profit earning tips!
Free IT Services and Accounting Software with No Extra Cost:
As virtual accounting companies use medium of technology and internet to reach their customers hence their IT systems are so strong. This is the reason virtual accounting companies offer you bookkeeping software for no extra cost so that you can check the business reports whenever required. Their IT professionals help you in choosing the software and offer you tutorials on how to use a specific bookkeeping software.
Victual Bookkeeping with Trust and Confidence:
Moreover, when you are using online and virtual accounting options, you will not be able to trust an online company right away, without a proof to share your complete and confidential details. Thus, to build the trust and make you confident about their aptitude, virtual accounting and bookkeeping services offer free services for a specific period of time. During this period, you can evaluate your needs and requirements and make a decision if you want to hire that specific company or not.