The elimination of overhead costs all the time through the payment of office space and others is the upliftment of Virtual Assistant Bookkeepers.
The need for them by brands has become rampant because businesses prefer to have someone who will work from home without them incurring any additional cost.
And that is the major reason why being a Virtual Assistant Bookkeeper is a great skill nowadays.
VA Bookkeepers are always involved in the smooth progress of the company and help them uplift the brand.
Below are the things that we are going to cover here in this guide:
- What Is Virtual Assistant Bookkeeping?
- Who is a Virtual assistant Bookkeeper?
- Can I hire a virtual assistant as a bookkeeper?
- Where to hire a virtual assistant that does bookkeeping
- Challenge of a virtual bookkeeper
- Duties of a virtual Assistant bookkeeper
- Final Thoughts on Virtual Assistant Bookkeepers
Let us dive deep into what Virtual Assistant Bookkeeping is all about and how one can start making use of them.
What Is Virtual Assistant Bookkeeping?
Virtual Assistant Bookkeeping is the ability to monitor the day-to-day financial and administrative activities of a company without the physical presence of the administrator.
This means that the financing and management of the day-to-day activities of the company are done from home.
The person is doing everything virtually and doesn’t need to come to the office to perform any task.
And this is fantastic because the company won’t have to pay for any additional overhead costs like Transport Allowance, Office Space, Computer Repairing, Food Allowance, and other costs.
Since the person is doing everything from his or her home…The company will only have to pay for the services either per hour or per day or week or month or year.
Depending on the agreement between both parties and what they both conclude on ways and duration to make payment.
Who is a Virtual assistant Bookkeeper?
A Virtual Assistant Bookkeeper is the person who is involved in the day-to-day financial monitoring and handling of the companies activities from the comfort of his home.
Such a person is not needed to go visit the office before he or she can work.
And they do even have multiple brands and companies that they work for and render several bookkeeping services to.
Let us Immediately look at whether you can hire a virtual assistant as a Bookkeeper or not.
Can I Hire A Virtual Assistant As A Bookkeeper?
Yes, you can hire a Bookkeeper for your day-to-day handling of the financial activities of your business.
But you have to take note of little things before you should consider doing this:
- Nature of Work With The VA
- Years of Experience.
- The Timezone of The VA
- Payment Duration and Estimation.
- Platform Where the VA Will is Hired.
1. Nature of Work With The VA:
What is the nature of the work you are about to task to the VA and how well does it correlate.
You can say that such a VA will be very good in the bookkeeping of your task but might not be that good in it because of the nature of your work activities.
Someone cannot be that good in every aspect of a job or activity.
One needs to be very careful with the way one just hires anyhow VA as the person to be doing the bookkeeping of a firm.
We have to consider several things here and that is first asking the person whether they have the experience related to tour nature of work.
This will save you a lot of stress and you won’t have to bother about whether problems arise in the future.
Also, if the person insists that he or she knows about the Bookkeeping of your firm’s activities.
You can give a trial but always make sure to monitor the first tasks before you can even stay relaxed a little bit.
So, make sure that you monitor the progress of your VA to make sure that the nature of your work correlates with his or her skill.
2. Years of Experience:
Years of experience matters in this kind of service because you don’t want a newbie to handle your financial and administrative tasks.
Although, it is possible to give chance for any new person to also develop since one will start from somewhere.
But giving a newbie the chance to start working with you Virtually depends on the range of your workforce.
If your brand is a little bit big that you have a lot of activities going on in a day just from the working and everything.
It will be very difficult and risky for you to just entrust the daily activities of your brand to such a Virtual Assistant.
So, always make sure that you are hiring based on the range of the workforce in your brand.
And it is better to hire a VA with years of experience in the work of bookkeeping.
Compared to someone that just enrolled for a virtual assistant course last week and already opening a portfolio today without even practicing with his brand.
3. TimeZone of The VA:
Another thing you have to consider is the timezone of the VA to your timezone.
Are you in need of a Virtual Assistant that will have the same time one as yours where you won’t have to stress yourself much to get in contact?
Because if you are with a VA that you will be sleeping when he or she is working or He or she will be sleeping when you require their services.
Then you will have to make a good conclusion on that so that you don’t fall short on anything.
You have to make sure that the way you are working and you are awake is also the way such a VA is awake.
When you have the same timezone – communication will be very easy and smooth between the both of you.
You won’t need to wait much before you can get feedback on a certain report which you need urgently.
But if timezone doesn’t matter and you can easily work with anybody irrespective of the time zone.
Then it doesn’t matter as you can just hire any VA since it won’t affect the smooth running of the business.
Some VA is even very good that they would have dropped everything you need before resting for the day to you without asking them
4. Payment Duration and Estimation:
You need to have a payment Duration as to when exactly you will be paying such a VA for their bookkeeping Services.
You can conclude to be paying them hourly or paying them daily or weekly or monthly depending on your agreement.
I know your next question might be, “Maverick…Which one is the best? Should I pay hourly or weekly or monthly?”.
Well, that decision is yours as I can’t decide on when exactly you should be paying your VA.
Just make sure that any payment that you will be doing is very much comfortable for you and your brand.
And not the kind of payment that will take a lot from you and you will be left broke.
Any decision that you are making must be something whereby the company is gaining a lot from the VA.
If you gain a lot more than you are expecting from a daily task… you can be paying hourly.
And if you gain a lot more than you expected from a weekly task… you can decide to be paid daily.
It depends on how well your brand is progressing from the task given to the VA.
5. Platform Where the VA Will is Hired:
You should also consider the platform where you will be hiring your VA to know whether their Virtual Assistants are quality.
There are some virtual assistant websites where anybody can just register even without them doing any proper scrutinizing.
This is not something you truly want for your brand and yourself.
You want a proper website that is fully dedicated to virtual assistants and you can easily find a Bookkeeper among them.
You click here to read more about the best virtual assistant websites where you will get a virtual assistant for your bookkeeping task.
So, make sure that your VA is coming from a very reputable VA platform and not some anyhow VA platform.
Let us go deeper into one of the few platforms where you can hire a VA Bookkeeper.
Where to hire a virtual assistant that does bookkeeping
A website like VirtualAssistants.com is a very perfect website where you can get bookkeepers who will help you study and manage the financial aspect of your business.
Although, there are a lot of others that are also into this aspect of helping people in the virtual assistant business.
But you can easily find virtual assistant bookkeepers on this platform.
All you have to do is just post a job board on the platform and you will get requests from a number of them.
They are on the platform and a lot of them have already registered themselves as a VA on the platform.
But make sure to consider the requirement and stuff you and I discussed in the previous aspect of this guide.
It is very important as that is what will determine you getting the best result from any VA you will hire.
You will find a lot of them on the platform but you have to be careful with the one you choose – so as not to involve in too much risk.
Freelance.com is a Freelance platform where you pay people to work for you per gig.
You can also head over here to hire some Bookkeepers as you will find a considerable amount of them.
They are there and they have displayed their expertise in full view for you to look at and digest.
Always make sure to look at their record on the platform to be sure that you are dealing with the right person.
Although Freelance.com is an Australian Owned website it has people from several parts of the world.
This means that you are not limited to only the Australians on the platform but to as many VAs as possible.
You can easily head over to their website and get Virtual Assistant Bookkeepers who will help you monitor the financial aspect of your business.
Another freelance platform that does wonders in the lives of many people is Fiverr.
Fiverr has a lot of virtual assistants from several parts of the world coming up to become a service seller.
You can also post a job board on Fiverr and you will get some people that will bid for your job which you can select from.
Although, if you are from the United States or other European countries… you should be prepared to get much bidding from people in India.
As Indians are much on this platform as a virtual assistant… so, you have to consider the timezone of such an Indian to yours.
If you are from Indian – you can easily make use of one among them because you are using the same timezone.
But if you are not from Indian and you want a VA that will be from your timezone… then you have to look well into the bidders.
Or just make use of freelance.com to get your virtual assistants.
There is some very good Virtual assistant on Fiverr that will bring out the best of work for you.
But you just have to be careful and look very well at their portfolio because the majority are just hustlers.
Challenges Of A Virtual Bookkeeper
Few challenges are involved in hiring a Virtual Assistant Bookkeeper which you have to note.
You must know them before you should ever think of hiring a virtual assistant for your company.
- Getting a Good Virtual
- Assistant Bookkeeper.
- Too Many Work-Force (Untimeliness).
- The flexibility of the company.
1. Getting a Good Virtual Assistant Bookkeeper:
Since the majority of those who are into the virtual assistant business these days are only doing it for hustling purposes.
You might get hustlers in your system that won’t truly understand what bookkeeping is all about.
Since the aspect of bookkeeping requires adequate knowledge and expertise about the financial management of the business.
Not many of the VA knows about it and they will put a nice portfolio with a very catchy graphics and headline.
Some can even go as far as to hire ghost reviewers to give them positive reviews on their profiles.
So, you have to be careful because this is a common challenge that many brands out there face a lot.
The aspect of bookkeeping is not graphics design or anything that anyone can just learn within few days.
It takes a little professionalism and the majority are not that professional in this aspect.
They also just want to hustle and make money online because their coaches said they will quickly make money from Virtual Assistant Businesses.
And since Virtual Assistant doesn’t need much waiting for buyers or selling of products.
It will surely make their money since they are only selling their time.
2. Too Many Work-Force (Untimeliness):
Just because of the hustling attitude among these people… you might not get your report quickly.
They work for a lot of people at the same time and your work might be hanging below other business works.
So, when you are messaging and awaiting a reply from the VA which you urgently need.
You shouldn’t be surprised that you are not getting feedback as quickly as you have expected.
You will just realize that it is taking time more than what you planned for and time is already going.
So, they work for multiple people at the same time and they are not only working for you.
The way you request for Bookkeeping is also the way other brands request for a Bookkeeper.
And since they are not that many professionals of them…Those who are goodwill have a lot of clients.
So, the only solution to this is to always have patience and also not have too much patience.
Because your work will be hanging and you shouldn’t be surprised that you are not getting as much time work as you want.
3. Flexibility of the company:
Your company will have to become flexible now that you have the record and the management in the hands of a stranger.
Although, there are some things you can try and keep confidential in your business.
But don’t make it too flexible that such a person will now have every access to all managerial activities of your business.
Anything relating to the administrative aspect must be properly monitored so that you don’t get to lose all your files.
Such a person might not even do it intentionally but might mistakenly delete an important file.
So, if you don’t always keep a copy of your files and other stuff and just leave it lying flat on your admin access which is also accesso by the VA.
You are leaving all your company into such person’s hands and if the files get tampered with.
You will need to stress yourself or might lose access to what you have labored dearly for.
Sometimes, it might be a lot of records that one VA has done and by the time you hire another VA.
The previous record might get tampered with by the new VA.
So, make sure you keep copies of your files if you want to be doing stuff like hiring a Virtual assistant for Bookkeeping.
Duties Of A Virtual Assistant Bookkeeper
Below are the duties that are majorly carried out by a Virtual Assistant Bookkeeper which you must take note of before hiring any VA.
- Input transactions.
- Make sure all bank records are complete and accurate
- Takes Note of employees’ remuneration.
- Prepares quarterly or annual taxes.
- Reports on spending patterns.
1. Input transactions:
If there are some areas through which the company needs to renew its monthly bills or payment.
Or maybe the company wants to purchase some assets either physical or online assets for the smooth running of the company’s activities.
It is the VA Bookkeeper that will input and initiate the transaction for such a payment.
Although, it is also something that the employer or company owner can do – but the Bookkeeper is expected to also do stuff like this.
Since the owner of the brand – most especially if it is an online brand can be busy with some other stuff.
Kindly note that stuff like this has to be properly monitored and you should not just give your account details to any stranger online.
The major aspect where stuff like this occurs is if the VA is around your locality.
And you already dedicate a particular amount of money to send to him or her for the settlement of bills.
This is the only way possible through which this can be initiated successfully.
So, always make sure that you are careful – but this is part of what the person can do for your brand as a Bookkeeper.
2. Make sure all bank records are complete and accurate:
The brand will be paying for a lot of stuff monthly for the smooth running of the activities going on.
And everything comes from the bank – the payment and all other stuff are coming from the bank.
Also, the acceptance of funds and products that customers have bought for that money that period also goes to the bank.
So, a brand must have a Bookkeeper who will monitor the bank records.
And has to check if these records are complete and accurate.
Also, the revenue of the brand has to be monitored to see if there is progression or regression.
Because this is the way the brand can know if they are going forward or moving backward.
It is either they put more effort or they have to retrace another strategy that can shoot them straight to the moon.
3. Takes Note of employees remuneration:
It is always very important to know when the dues of the employees are due and have to be paid.
The owner of the brand may not know this or even take note of it since a lot is happening in the brain.
So, with the help of the VA – he or she can easily notify them of any payment that is due for an employee.
The firm can quickly get to know that the payment of such an employee is due and it’s ready for payment.
This way, it will boost working conditions in the firm and the zeal towards working better will be in the mind of the employee.
Since the payment is due and the employee is already paid on the exact day that payment is supposed to happen.
So, this is another fantastic and outstanding reason why you need to have a Bookkeeper as a Virtual Assistant.
4. Prepares quarterly or annual taxes:
Every firm pays tax no matter how big or small and the Bookkeeper must prepare the taxes.
It is this person that will prepare the quarterly and annual taxes of the company.
It is also very important to know that this can also be done virtually by the assistant.
Enough information about the company only needs to be given to the virtual assistant for him or her to know what exactly to work on.
5. Reports on spending patterns:
The company must know where and what they are spending on for the smooth running of the business.
Without knowing where you are spending on and what is yielding the most benefit.
Then, it is more like a company is only wasting money on unimportant stuff in the business.
That is why the company must do everything possible to make sure that the spending patterns are being monitored.
So, this is also another function and work of the virtual assistant which will be executed to him or her.
A report concerning it has to be given by the VA for the company to continue spending on the important stuff.
Final Thoughts on Virtual Assistant Bookkeepers
You need to have a virtual assistant who will be in the aspect of bookkeeping of your business.
So, always make sure that you implement and digest what you and I have discussed in this guide.
Also, if you are a blogger or website owner who also wishes to have a virtual assistant. Then, you can check out this guide which is a virtual assistant guide for Bloggers.
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