Virtual Bookkeeping Services

The internet has made it easier than ever for companies to outsource services. While outsourcing was initially of interest to large multinational corporations, many small to medium sized enterprises have discovered that there are many benefits to outsourcing services such as bookkeeping.

Virtual Bookkeeping Services

Virtual bookkeeping services can be used to outsource mundane and routine office administration processes, leaving you and your employees free to concentrate on the core aspects of your business. Outsourcing can also save you thousands of dollars in staff and administration expenses.

Virtual Bookkeepers

Outsourcing companies allow you to have your own virtual bookkeeper in an English speaking country like India or the Philippines

Outsourcing companies allow you to have your own virtual bookkeeper in an English speaking country like India or the Philippines

When choosing a virtual bookkeeper be sure to select an appropriate pricing plan. Many bookkeepers charge by the hour for their services, or they charge for a set number of hours per month. If you want a better estimation of the costs involved then go for a fixed price plan. Companies like MyVirtualBookkeeper charge a basic fixed monthly fee, plus additional fees for extra services.

Needless to say, you should also ensure that your virtual bookkeeper uses QuickBooks if that is your preferred accounting software package.

Most company accountants get very busy at certain times of the year, especially at year ends. Check to see if your virtual bookkeeper has extra resources that you can hire to get you through this busy time in the financial calendar. A big tip here is that accountancy services can get more expensive in December and March/April, so if you change your company’s reporting financial year end to coincide with a less busy time for accountants then you can often negotiate a better deal for accountancy services.

Outsourcing Bookkeeping to India

There are a large number of virtual bookkeeping services in India that will allow you to outsource to India. The main advantage of outsourcing to India is the cost. Typical costs for a virtual bookkeeper are around $8 an hour or $100 per month depending on the services required.

If you’re seeking an Indian outsourcing company then make sure that they have staff that are familiar with the accounts package you use. Also check to see if they are aware of the financial regulations in your own country. Ideally it’s best to go for a company that already has customers in your own country and it’s even better if their customers are in a related business sector to your own. Don’t be afraid to seek testimonials or letters of recommendation from their existing clients.

Risks of Outsourcing Bookkeeping – Does Accounting Outsourcing Work?

Outsourcing isn’t always a risk free operation. For example I outsource many aspects of my website management to professional companies. In April 2011 the Amazon EC2 service went offline for a couple of days. During that time I was unable to access some vital business information. What made it worse was that Amazon could give no time estimate for how long the outage would last, and even after the event I feel that their response wasn’t really adequate. So I would obviously hesitate to outsource my banking or accounting processes to an online operation.

One way to mitigate against the risk of outsourcing bookkeeping is to get the outsourcing agent to dial into your own computer network and use your own accounts packages remotely. This means that the critical business data is stored onsite on your premises. And should you get into a dispute with your virtual bookkeeping service then you can simply revoke their access to your computer network.

So if you want to save money and streamline your business financial operations, then check out some virtual bookkeeping services and see how they can help you manage your company’s finances for you.

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