No one ever said running a business was easy, but most business owners don’t realize that one of the most difficult aspects of their job will be bookkeeping headaches. Virtual accounting and bookkeeping services can solve some of the biggest problems for fast-growing businesses with revenue between $2 and $25 million. Let’s look at the top 7 reasons business owners call upon a virtual firm for their accounting and bookkeeping needs:
1. “I never get the financial reports I need, when I need them.”
As a business owner, you wouldn’t think looking for timely and accurate bookkeeping is asking for a lot. But, if you’ve been using an in-house bookkeeper who doesn’t know their job or the bookkeeping software as well as they should, you may not get what you need in terms of bookkeeping services. On the other hand, a virtual accounting firm will deliver all the reports and statements you need on a daily basis, so the information that will help you run your business is right at your fingertips.
2. “Hiring and training bookkeepers is a hassle. Just when someone learns the job, they leave.”
Have you struggled with finding qualified bookkeepers? Why not leave the hiring and training process to an experienced virtual accounting and bookkeeping service? A high quality virtual accounting firm hires only the best-of-the-best online bookkeepers and virtual accountants from across the United States. A premiere virtual accounting firm also requires its bookkeepers to pass Quickbooks certification exams annually, so your bookkeepers stay up-to-date on software revisions and new capabilities of QuickBooks.
3. “My books are just a mess. They’re not balanced and I have no idea where we stand financially.”
You’ll never have to worry about out-of-date or inaccurate books with 24/7 access to your financial dashboard and a financial controller who can explain anything you may not understand.
4. “I don’t need a full-time bookkeeper. But I definitely need some help with bookkeeping services!”
Often, fast-growing businesses aren’t quite ready for full-time bookkeeping services, but the individual they have doing their books is overworked at certain times of the month and bored at others. With a virtual accounting firm, you get the bookkeeping services you need, when you need them, all at one monthly rate. Virtual bookkeeping services are scalable, so as your business grows, you and your virtual accounting firm can re-evaluate your virtual accounting and online bookkeeping needs.
5. “I’m afraid we’ll be audited, and I don’t trust the accuracy of my company’s bookkeeping records.”
This is a big fear, understandably, of business owners. If you do get audited, a reputable virtual accounting firm will stand by your side through the whole audit process, helping you provide the information your auditors need to make their decision.
6. “We’re losing money because we’re not job costing properly, if we do it at all.”
Accurate job costing goes beyond Accounting 101 and, for that reason, if you’re not using a professional accounting and bookkeeping service to manage your bookkeeping, it may not be done properly. A successful virtual accounting firm helps businesses make more money every day just by establishing better, more accurate job costing processes.
7. “I need help with payroll to make sure it gets out accurately and on time.”
Payroll can get complicated for fast-growing businesses, especially if you have employees who work and travel across state lines. Your virtual accounting team will work with your payroll company to ensure this crucial part of your business is always accurate and on time.
What’s your biggest bookkeeping headache?