Benefits of a Virtual Accountant

You might choose, for example, to meet in person once a year and meet virtually once a quarter. We’re happy to provide that flexibility because it allows us to build strong relationships and deliver the kind of personal service you deserve from your accountant. Obviously, it’s easier to pick up the phone or use a video conferencing application than get in the car, drive to our offices, and drive home. Documents and information can be securely shared via email or file-sharing applications. If you forget a document, this is much faster than delivering the document by hand or sending it through traditional mail. Companies come to BlackLine because their traditional manual accounting processes are not sustainable. We help them move to modern accounting by unifying their data and processes, automating repetitive work, and driving accountability through visibility.

Automate, optimize, and virtual accountant intercompany non-trade transactions. Deciding whether to hire full-time remote workers versus freelancers can be a difficult decision, especially when working in a… Productivity is something entrepreneurs, employees, and business owners strive for daily. We offer fixed weekly subscription price based upon your company’s annual revenue and the number of employees and subcontractors you employ.

How to Become a Virtual Accountant

BlackLine’s foundation for modern accounting creates a streamlined and automated close. We’re dedicated to delivering the most value in the shortest amount of time, equipping you to not only control close chaos, but also foster F&A excellence. Enable greater collaboration between Accounting and Treasury with real-time visibility into open transactions. Integrate with treasury systems to facilitate and streamline netting, settlement, and clearing to optimize working capital. Streamline and automate intercompany transaction netting and settlement to ensure cash precision. Unlock growth capacity with tax-effective intercompany operations.

BlackLine’s Modern Accounting Playbook delivers a proven-practices approach to help you identify and prioritize your organization’s critical accounting gaps and map out an achievable path to success. Ensure consistent regulatory and tax compliance by automating non-trade transactions and invoices while enforcing trading relationships and policies, as well as required taxes and transfer pricing. Accelerate dispute resolution with automated workflows and maintain customer relationships with operational reporting. Unlock full control and visibility of disputes and provide better insight into how they impact KPIs, such as DSO and aged debt provisions.

How to Start a Virtual Accounting Firm

Give you information about what it’s like working with a virtual CFO and the types of services you can expect. Visit our Virtual Close Hub for the resources you need to close virtually with confidence. With an impact on customer behavior, supply chains, liquidity, foreign exchange, country-level operations, and business functions, enterprises are still faced with economic uncertainty. During a recent Genpact webinar, 70% of participants said that COVID-19 has had a positive impact on their financial close process.

• Make the most of your team’s time by automating accounts receivables tasks and using data to drive priority, action, and results.
• Book a free, 60-minute discovery call, where we can discuss your goals, where your business currently stands, the level of support you need and offer customized tiered solutions with pricing.
• All of these tasks help you understand your income and expenses incurred by the business.
• Virtual Bookkeeping, payroll and tax tasks need experts for efficient handling and to make sure that the growth and prosperity of any business remain unhindered.
• The client’s business gets a new higher value service that can manage and supervise the finance function and provide a factor of mentoring the in-house staff accountant.
• An online financial service puts all your important financial statements right at your fingertips.
• From there, you can add comprehensive accounting, payroll, and tax services as needed.

By relying on a virtual assistant, you can free up your resources for other tasks and ensure that your financial records are accurate and up-to-date at a fraction of the cost. Kylie McQuarrie has been writing for and about small businesses since 2014.

How are virtual accountants evaluated?

In contrast, outsourced bookkeeping and accounting nearly always refers to accountants with an accounting firm who handle your books from their own office. Along with offering the typical outsourced bookkeeping services, AccountingDepartment.com provides outsourced controller services. With this service, their CPAs manage bookkeeping while also budgeting, forecasting, doing job costing, managing cash flow, tracking inventory, and performing other financial management tasks on your behalf. The very thought of a virtual accountant can cause feelings of anxiety and dread. Each time you invoice a client, pay for an item, or compensate a vendor or contractor, money is changing hands. A virtual accountant with the skill of bookkeeping can help you gain better control of your business finances. Instead of worrying about the payment status of invoices, payroll, or if you are bringing in enough to cover expenses, hire a virtual accountant to handle this for you.

• However, as with any in-person accounting professionals you’d trust with your financial data, you should always verify a bookkeeping firm’s credentials before committing to a monthly plan.
• While it is typically not in the virtual accountant’s scope to handle financial projections, they can provide still provide them.
• With an impact on customer behavior, supply chains, liquidity, foreign exchange, country-level operations, and business functions, enterprises are still faced with economic uncertainty.
• A virtual accountant should be a qualified accounting professional, capable of doing anything a conventional accountant can do.
• Some companies charge by the number of accounts you need them to manage, while other companies charge based on your company’s monthly expenses.
• We take care of your account books so that you can continue to focus on the tasks that you do the best to take your business a notch up.

Explore our schedule of upcoming webinars to find inspiration, including industry experts, strategic alliance partners, and boundary-pushing customers. Retailers are recalibrating their strategies and investing in innovative business models to drive transformation quickly, profitably, and at scale. Save time, reduce risk, and create capacity to support your organization’s strategic objectives. Centralize, streamline, and automate intercompany reconciliations and dispute management.