When you first started your business, things like billing, keeping track of who you owe and who owes you money, and keeping the books were easy. But as your small business grows, keeping the books starts to seem like more of an issue. This is where a bookkeeping virtual assistant comes into play.
At a certain point, you can’t do all the bookkeeping chores by yourself. Small business people all over the world face this problem. But with BizVA, your problems are solved with one of our virtual bookkeeping assistants. Let’s review how.
What is a Bookkeeping VA?
A virtual bookkeeping assistant is like a standard bookkeeper in all ways but one. Instead of helping you in an office, they will help you handle your finances from afar.
As opposed to traditional bookkeepers, bookkeeping virtual assistants are paid by the hour and can be brought on board more quickly.
You can talk to your virtual bookkeeping helper in any way you like. Zoom, WhatsApp, and Slack are the most popular ways to do this. At BizVA, our VAs are skilled, organized, trustworthy, and can work well on their own. You’ll need to let them use your software and make them aware of your expectations, and they’ll be ready to go.
Bookkeeping Tasks a Virtual Assistant Can Do
Bookkeeping virtual assistants can help entrepreneurs with a number of bookkeeping tasks, including but not limited to:
Entering and keeping track of expenses – This includes writing down invoices, receipts, and other financial documents.
Reconciling bank reports – This means comparing the business’s bank statements to its accounting records to make sure that all activities are correctly recorded.
Putting together invoices and statements – This includes making bills for customers and sending them, as well as making invoices for the business to use.
Keeping track of accounts payable and accounts receivable – This means keeping track of how much the business owes and how much it still owes.
Getting together financial statements – This means making balance sheets, salary statements, and other reports that sum up how well the business is doing financially.
Taking care of payroll – This means making and sending out paychecks and taking out and sending back taxes and other wage taxes.
Taking care of inventory management – This means keeping an eye on the business’s productivity levels and making sure there are enough items on hand to meet customer needs.
Cost accounting – This means keeping track of how much the business’s goods or services cost and how much it costs to run.
Making sure payments are made on time – A bookkeeper virtual assistant can make it as easy as possible to pay the bills. They are qualified and taught to do all accounting tasks, like paying bills and getting money from people in a timely manner.
Prepare general ledgers – If you create general ledgers, you might not have to go through every receipt to find and record income, which will save you time. General ledgers also keep track of your costs, which could be useful if you want to spend less. Since every purchase has already been written down in the accounting records, it saves time, energy, and maybe even money.
And so much more!
Tips for Working with a Virtual Bookkeeping Assistant
Choose a virtual assistant who has the right skills and experience – Ask the assistant about their experience with bookkeeping and if they know how to use the accounting tools that the business uses. All of our VAs here at BizVA are highly trained and vetted and can help you with all of your bookkeeping needs.
Set clear rules and expectations – Make sure to talk about the specific jobs you want the assistant to do and when you need them done.
Give the VA the tools they need – Make sure the assistant can use the business’s financial software and any other tools they might need to do their job.
Talk to each other often – Check in with the assistant often to see how they are doing and to answer any questions they may have.
Give your feedback – Be sure to tell the helper both what they did well and what they could improve on. This will help them get better at what they do.
Why You Should Hire a Bookkeeping Virtual Assistant
Entrepreneurs can get a lot of help from virtual bookkeeping assistants. Most of the time, these professionals can improve your finances, save you money, improve your cash flow, make your finances more clear, and hold specialized skills. Here are some more benefits to consider:
It can be more cost-effective to use a bookkeeping virtual assistant than to hire a full-time bookkeeper
Virtual bookkeeping assistants offer bookkeeping and accounting knowledge and can assist your business in complying with tax rules, which can prevent legal complications and penalties.
Bookkeeping can take time away from other business tasks. Using a virtual bookkeeping assistant lets you focus on operating your business.
Virtual bookkeeping assistants offer financial flexibility. Depending on your business, you can alter your weekly or monthly hours, and as your business grows, this simplifies financing.
Virtual bookkeeping assistants can also use different kinds of accounting tools. This helps them organize their work, making it faster and more accurate for your business.
Hire a Bookkeeping Virtual Assistant with BizVA
In this article, you will see a list of tasks that a virtual bookkeeping assistant can do for you. Bookkeeping is a part of finances. There are a lot more, and they are a lot more difficult.
Are you a business owner who wants to get your finances in order and make more money? If so, getting a professional virtual bookkeeping assistant could be just what you need. They will help you keep accurate and up-to-date records of your money. This, in turn, will help you run your business better and keep you from having money problems in the future.
The biggest problem that entrepreneurs have to deal with is money. Hiring people in-house can be expensive, so it’s smart to hire an experienced virtual bookkeeping assistant instead.
Set up your call with BizVA today to get started with your virtual bookkeeping assistant.