Numbers and numbers. They are good if you are counting the amount of money you have. But if it involves payables, invoices, receivables, and any bookkeeping related, who enjoys them anyways?
If you are one of the few who loves numbers and enjoy the tedious process of bookkeeping, you can skip this page. If bookkeeping is not your thing, probably because of the following reasons:
- As a business owner, you just don’t have time for it
- You lack the proper software package
- You lack the skill or knowledge in bookkeeping
If your reasons fit one of the excuses above for missing out or skipping bookkeeping, you may need to go back and reconsider your business choices. Bookkeeping is an integral part of any business. Ever wonder why big companies employ several bookkeeping and accounting professionals?
Many businesses fail due to financial mismanagement and financial management includes a big chunk of bookkeeping. This is why the US Small Business Administration released this statement as an advice to all:
“Accounting for revenue and expenses can help keep your business running smoothly. Make sure you maintain proper bookkeeping and have a basic knowledge of business finances.”
You have to understand and monitor the financial aspect of your business. If you wish to do well over the coming years, then you completely must keep on top of your finances.
Having a well-organized bookkeeping framework is essential for better long-term financial management of your business. Applying proper bookkeeping practices can give you the following powers:
- Bookkeeping is important because it is a way to budget. To make a proper budget, it is necessary to arrange income and expenditures carefully so that the budget is more beneficial.
- Bookkeeping is almost as critical for preparing an individual income tax report. As a business owner, a substantial portion of your revenue comes from the job that you do.If you want to know what you made, you need to know how much your business made first.
- Organization is a skill every business owner should know how to develop. A way to organize your business is through bookkeeping. Organizing your financial records makes it easier for you to locate and give them to the appropriate agencies.
- Bookkeeping is essential because it helps to define the business performance. The financial records of a company are from bookkeeping. Financial reports will serve as a guide in the future strategy of the organization.
- Bookkeeping is critical in that it helps a company owner to take care of the business’ finances. Bookkeeping helps you keep track on how you spend money.
- A complete bookkeeping can give you a peace of mind. When books are closed, you can navigate through your business with confidence. You are confident your financial information is ready and available anytime for review.
Virtual Assistant for Bookkeeping
A common misconception is that virtual assistants have a limited set of skills and only cover general tasks like administrative support. This is the opposite. The demand for virtual assistants across the globe from different niches and industries make it possible for bookkeeping professionals to enter the virtual remote workforce.
You might be thinking, why virtual assistant bookkeeper? Here are the compelling reasons why outsourcing a professional virtual assistant bookkeeper to manage your business books and financial paperwork.
- With the data they manage and the analyses they can bring, you can effectively identify high spending areas of your business and look for ways to manage your money more efficiently. On top of that, the benefit of employing a virtual bookkeeping assistant is much lower than hiring a local bookkeeper.
- A virtual bookkeeping assistant can help you save time, stress. and a huge headache by checking out, monthly updating, and other tedious report and tax-related tasks.
- Virtual bookkeeping assistants can categorize, reconcile, and translate figures into understandable terms so you can keep track of your business’ transactions. This will help you determine the financial direction of your business.
- Your virtual assistant can take care of bills payment, generate invoices, and collect payments.
- Payroll management is always urgent among small and big businesses. A virtual assistant can send weekly reports and take you through the whole payment phase. So you, as a business owner, will be updated and get the know-how of managing payrolls.
- Tracking your business transactions is more possible and simpler with a qualified virtual bookkeeping assistant. Save valuable effort and time, making sure you never miss a single payment, a virtual assistant will be there to help you track it all by providing you reminders and insights.
- Last and foremost, you do not have to sweat complying with the law. Everything has been organized and updated, so they are ready for audit and avoid penalties.
The idea of outsourcing a bookkeeper beyond a business not only saves money by minimizing the expenses associated with full-time employment, but it also encourages you and your team to invest your time and energy on what you do better – and that does not include recruiting, overseeing, training, and managing staff.
Consider hiring your virtual bookkeeping assistant from VALUE Virtual Assistants! When you get a virtual assistant from us, we guarantee our virtual assistants are:
- qualified and experienced.
- trustworthy, after all, it involves money, right? You need someone trustworthy.
- professionals and understand tax compliance requirements.
- perceptive and able to provide insights based on the gathered data.
- in touch with the latest trends and tools required in providing an excellent bookkeeping service.
VALUE Virtual Assistant has emerged as one of the leading staff management companies and providers of outsourced virtual assistants to various business organizations around the world at the most affordable costs. It is time to focus more on your core competencies and grow your venture.
For more information and inquiries, contact info@value-va.com.
For more contents like this, connect with us on our LinkedIn and Facebook Page.
