Although bookkeeping can feel like an especially tedious chore, it is a necessity if you would like to run a healthy, successful business. Not only that, but bookkeeping needs to be comprehensive and high quality, in order for it to truly benefit your company.
Bad bookkeeping habits are essentially a form of financial self-sabotage, as a small business owner. And, with disorganized financial practices comes a greater probability that your business will collapse, from the foundation up.
In reality, approximately 29 percent of small businesses go under as a result of cash flow problems. This is a frighteningly high number, for many new entrepreneurs.
Instead, make sure you are laying out strong groundwork for your business. In part, you can accomplish this by maintaining good bookkeeping practices.
It can be extremely difficult to pour so much time and effort into other areas of your business, and then have energy leftover to stay on top of bookkeeping. In this instance, it is wise to hire a virtual bookkeeper for assistance. Using outsourced bookkeeping, you’ll never have to stress about this important aspect of running a successful business.
Why Hire a Virtual Bookkeeper?
Unsure whether or not a virtual bookkeeper is the best option for you and your business? Here are some of the most useful benefits of hiring a virtual bookkeeper, in order to manage this component of your business’s finances.
1. Virtual Bookkeepers Are Cost Effective
If you’re looking to outsource your bookkeeping, opting for a virtual bookkeeper is typically the more cost-effective option. Alternatively, if you were to hire an in-house accountant, you could expect to pay considerably higher fees, overall.
For instance, virtual bookkeepers are often able to work part-time, rather than full-time. Additionally, virtual bookkeepers are contract workers, and serve more as a business partner than a hired employee. This means that you won’t need to deal with hiring expenses such as payroll taxes and a salary.
2. Virtual Bookkeepers Are Flexible
Compared to an in-house bookkeeper, an outsourced worker (such as a virtual bookkeeper) is far more likely to have a flexible schedule. Whatever your schedule, there’s a strong chance you’ll find a virtual bookkeeper able and willing to accommodate it.
3. Virtual Bookkeepers Keep Your Data Secure and Organized
Not only should all of your bookkeeping data be backed up and organized using reliable software, but also, these records should remain easily accessible. An online bookkeeper will typically use software that’s designed specifically to accomplish these objectives.
4. Virtual Bookkeepers Allow You to Focus on Your Small Business
As we’re sure you already know, running a business is a complex process, with a huge number of moving parts to tend to. In order to devote time and effort into other areas of your business, it makes sense to outsource certain financial duties to an accountant, such as a virtual bookkeeper.
One Books Provides Reliable Virtual Bookkeeping