Bookkeeping is an essential part of any company as it’s needed by law for tax purposes, but it also allows companies to have well kept financial records. Since bookkeeping can be very tedious and time intensive, let alone dull and sometimes even frustrating, many company owners choose to employ the services of bookkeepers. Bookkeepers may do full time work in a business, yet this is often not required because their services and assistance are not required on a regular basis.
For that reason, it became a viable alternative for companies to employ freelance or virtual bookkeepers. A freelance bookkeeper usually charges an hourly rate bearing in mind the workload they’re effective at doing in a span of an hour. Due to this, company owners are able to cut down prices because they’re only required to purchase the acceptable period of time the services are rendered for. If an onsite bookkeeper were hired on a full-time basis, company owners would have to pay a stated salary rate regardless of how much work was needed from the bookkeeper in any given month.
Also, hiring a virtual bookkeeper as opposed to full a time one may reduce the overhead costs of the company because the bookkeeper will not be kept on the company’s payroll. Because of this, companies can avoid added costs relating to paid vacations, sick leaves, insurance, 401k, etc. Companies are able to save even more as virtual bookkeepers frequently work at home meaning that the hiring company does not have to spend on additional office space, equipment, resources, and materials.
Hiring a freelance bookkeeper implies that training will not be required. Aside from the expenses involved with teaching full time staff, several companies try to avoid training their very own bookkeepers due to the possibility that they’ll move on to work for other organizations providing advantages to other companies. A freelance accountant has already been trained in the field and will only require some time to know the requirements of the company.
Finally, an organization should be cautious in choosing a bookkeeper. Company owners want to be sure that their financial records really are kept and managed by a fully trained and experienced person. For many numerous reasons, companies may take advantage of hiring a virtual bookkeeper since they are able to reduce expenses, free up time for company owners along with other staff to concentrate on other important business process, and ensure that finances are documented and maintained in a professional manner.
If you are in a need of a virtual bookkeeper please review our services and prices. You will note that we use Xero Accounting. It is the easiest accounting system to use. You will have access to your account via your Mac, PC, phone or tablet. Your valuable information is secure even if your computer is stolen or lost. Please contact us so we can provide the best available service to you and your business.