In the world of small-business accounting, virtual bookkeeping services are becoming more and more common — so much so that the practice of bookkeepers traveling to meet with clients is becoming more of an exception than the rule. In fact, I will likely never meet most of my clients in person.
It can be difficult to trust a virtual service with your books, and even harder to know which service to choose. To help ease the process, I’ll show you how I run my virtual bookkeeping service and explain what to look for in these services, so you can make the best decision possible.
What is a virtual bookkeeping service?
Virtual bookkeeping, also known as cloud accounting, is when a bookkeeper or accountant works with their client remotely. This is made possible through accounting software that allows you and your bookkeeper to share an account. With a shared account, your bookkeeper can post your financial transactions, review and update your statements, reconcile your accounts, and perform other vital accounting functions without having to meet with you in person. In this arrangement, the accountant and business must utilize the same accounting software to ensure the proper transfer and communication of files.
The benefit of using a virtual bookkeeper as a business owner is that it is often cheaper than hiring someone local to work on-site. The bookkeeper can be paid as a contractor and work as little or as much as the business needs. For a bookkeeper, working virtually provides convenience in the form of schedule flexibility and the ability to work from home.
How does virtual bookkeeping work?
Working with remote clients comes with its challenges, but modern technology has made it possible. Here’s an example of how I am able to work virtually with clients. It really is all about the apps. The ones I use are:
- QuickBooks Online.
- Zoom.
- Smartsheet.
- Slack.
- G Suite (Google Docs).
This is the “ecosystem” that I use to run my virtual bookkeeping service. With these five apps alone I can manage every aspect of my clients’ needs.
QuickBooks allows me to do the actual dirty work of bookkeeping, Zoom lets me virtually meet with clients over video, Smartsheet makes remote project management possible, Slack is for messaging about issues that don’t need to be resolved over video and finally, G Suite and Google Docs facilitate easy file management.
