Bookkeepers maintain records of all the transactions related to your business so that your accounts department can analyze the financial trend of your company and determine the best strategies to increase your profits. Many companies prefer to have an in-house bookkeeper, but this work can be outsourced to remote bookkeepers. In either case it is important to make sure you hire the right person or company. With different remote bookkeeping services so readily available, choosing the best one for your company can be difficult unless you have a thorough understanding of the benefits of what a bookkeeper does and what your company specifically needs.
Benefits of Hiring a Remote Bookkeeper
A remote bookkeeper can help you with the following:
- Saving time
When you have a business to run, irrespective of whether you have 10 employees or 10,000, there is always a lot to do and often more than you can manage in-house. Due to these huge volumes of work, certain aspects of the business can get neglected which may lead to problems in the future. Bookkeeping is one such crucial part of your business, and it should never be ignored. Hiring a professional to handle this job will save your in-house staff and the company as a whole a lot of time, as these professionals will be dedicated to managing your business’s work.
- Saving money
The cost of hiring a remote bookkeeper is usually a lot less than having one in-house, since they can offer you their services on a part-time or hourly basis. As you are one of several clients, you need not pay them a big amount. You can choose from different payment packages and ask for hourly or part-time services. This is advantageous when you compare it to having a full-time bookkeeper on your payroll.
Remote bookkeepers record your company’s financial events through a system that is well-organized and accurate. Since these are professionals who specialize in this one job, you can expect your accounts journals to be ready within your deadlines, making it easy to quickly process any crucial financial decisions.
Tips to Choosing the Right Remote Bookkeeper
To get the best service, it is important to hire a reputable remote bookkeeper. Determining who the best person or team is for your company is not easy, but taking into account the following criteria will help you choose the ideal remote bookkeeping service for your company:
Where your remote bookkeeper actually works may not seem like a priority – they do work remotely after all – but it is an important factor that should be taken into consideration. If you are looking at the services of a company that operates in a completely different time zone, coordinating with them could be a problem. Due to that difference, having an agreed-upon time when you can communicate over the phone or online, or schedule meetings, can be a tad difficult. However, no matter out of which time zone they operate, your company’s finances will be updated in a timely manner, provided the company has a reputation for timely delivery.
Here are some questions to ask when you are hiring remote bookkeepers.
- If an urgent report is needed, can you reach them for a meeting on short notice?
- What platforms of e-meeting and video-conferencing are they using?
- Is it viable for the bookkeeper to meet you physically if the situation calls for it?
Virtual assistance and off-shore outsourcing thrive on various web-conferencing applications. You need to agree upon a mutually convenient platform.
Bookkeeping involves sensitive financial information, and when you are sharing it with a third-party, it is important to know they are trustworthy. So do your research. Go through various online forums dedicated to reviewing and recommending companies and their services. You may also want to seek help from friends and associates who have hired remote bookkeeping services themselves. It is always wise to choose a company that has experience and that upgrades their technologies to adhere to the latest market trends.
A reputable remote bookkeeping company will provide its services at a standardized rate. If the rates they quote you for their services seem absurdly low, it may also indicate that the quality of the service is absurdly low. It is always better to choose a company known for the consistent quality of their services and that charges a standard rate than opt for a company offering a good deal but that is not well-known for their quality of work.
The remote bookkeeper you hire should understand what work they have been hired to do. This means they should know about all the latest technologies and software needed for bookkeeping and have the organizational skills needed to accurately maintain records. Also, be sure they have been certified by a credible institution. You can find this out by communicating with the bookkeeper and asking them the following crucial questions:
- Do they know about the specific tax write-offs and policies related to your industry?
- What bookkeeping software do they use and how proficient are they in it?
- Are they aware of the financial laws for your specific province or state?
Hiring a remote bookkeeper to help out when other aspects of the business are driving you crazy is a good idea. Taking note of the above-mentioned criteria will make it easier to find the right person or company.