Passing on the accounting and bookkeeping responsibilities of your company is a big task that requires a lot of trust as a business owner or CEO. There is no shortage of benefits that switching to a virtual accounting services provider has, but there are certain things to be aware of to weed through the options.
With over 17 years of providing services virtually for our clients, we've come to learn a thing or two about how to hire vendors virtually. Here are our top 3 tips for sizing up a company when you can't meet them in person (or even if you can!):
Look For Comprehensive and Organized Processes and Procedures
Going with a virtual company that does not have a comprehensive and structured approach is a red flag. If tasks, processes, procedures, and operations are well documented across the organization, you are dealing with a reputable company that takes pride in its quality and stability. If a company cannot provide you with an example of its processes and procedures from the start, you can likely expect the entire lifespan of working with this company to go that way.
Verify The Team's Location and Background
It is very easy as an outsourced service provider to put together an attractive-looking website to sell you on their services. But you should investigate who their team is actually made up of. Are they full-time W2 employees, 1099 freelancers, or located overseas? A certain structure may be more preferred by you, but you should be aware of who will be working on your accounting before hiring a virtual company. At AccountingDepartment.com, our entire team is made up of full-time, W2 employees of our company, and is located in the United States. Once you start researching other options, you will be surprised to see which companies operate overseas or with freelancers. When hiring a virtual company, make sure you know where your information is going and who you can count on to work on it.
Find Out How They Handle The Issues
As much as everyone wants things to go smooth with a business, things happen, emergencies happen, and unexpected situations occur. It's out of your power, but you want to be sure that there is a plan in place for how to handle it. A virtual service provider prospect should be able to clearly explain what procedures they have in place to handle any type of issues that arise - and we advise that you run from those that say problems won't happen. Having a plan in place for when issues arise is far more important than promising it won't happen.
There are many industries in which virtual companies operate, accounting is one of them. AccountingDepartment.com checks off all of the boxes when it comes to a virtual company that can handle your entire accounting department. If you are interested in seeing how we can help, reach out today!