Virtual Bookkeeping: What It Is & How to Get Started in 2023

virtual bookkeeping services

You should be able to access a dedicated bookkeeper for any questions or advice and one-on-one assistance. Yes, you’re free to switch QuickBooks Online plans or cancel at any time. Want to learn more about bookkeeping before you sign up for a virtual provider? Our article on business bookkeeping basics gives you more information on how to do bookkeeping and why. In the end, your virtual bookkeeper should be a partner that can help grow your business affordably.

Are you going back and forth with a prospective bookkeeper trying to nail down a time to talk, or do they use a scheduling app? If they’re not efficient about this stage of doing business, this may be a sign that they won’t be efficient once you are a client. This way you don’t have to rely on the claims they make about what they can do for you. If they are offering advice that others find useful, then you will be able to see that rather than simply taking their word for it. If your prospective virtual bookkeeping service understands the value of adding to the conversation, then it is a good sign that they will be genuinely helpful to your business.

You’re limited to one scheduled appointment at a time and appointments have to work within your bookkeeper’s schedule. Communications that are available any time include document sharing and live chat with a member of your bookkeeper’s extended team. is an all-around solid pick for small to midsize businesses that might want additional payroll and tax help down the road. It will be a lot harder to work with a virtual bookkeeper if you use QuickBooks and they use FreshBooks or Xero. Therefore, make sure you ask them which accounting app they use for their business and why. If they are using different software and tools, you should figure out why and use that to determine if you really want to work with them.

For a bookkeeper, working virtually provides convenience in the form of schedule flexibility and the ability to work from home. Our partners cannot pay us to guarantee favorable reviews of their products or services. We believe everyone should be able to make financial decisions with confidence. They helped me catch up on over a year of lackadaisical sloppy data entry.

ways bookkeeping can save your business—and how to get started

And it is, but you may still be asking yourself, “Well, what’s it like to run a virtual bookkeeping business? A virtual bookkeeper helps companies stay on financial track, understand their bigger financial picture, and decide where to spend money. Virtual bookkeeping is a way to record, store, and manage all financial transactions for a business from a remote location. One of the biggest challenges for bookkeepers lies in handling credit card receipts. All too often, these are delivered in bulk, leaving the bookkeeper to sort them out.

That can leave them feeling stressed when they realize they need to get the task done pronto and appreciative of that instant service. Your bookkeeper brings your past financials up-to-date and sets up your bank connections and chart of accounts. Her professional work experience includes roles in media advertising, financial services and human resources. She holds a Bachelor of Arts in human resources management and is PHR-certified. Monthly bookkeeping, corporate and tax filings, all done accurately, on time and online. The firm is equipped with a team of experts who are fluent in the US Taxation Law & Legislation, thanks to their several years of experience.

  • Each receipt represents money that has already been spent, and the bookkeeper is tasked with bringing the books up to date, categorizing each expense and attributing it to the right department.
  • If your monthly average is $50,001 or more, the monthly price for QuickBooks Live is $400.
  • These are just starting prices, as they increase based on the number of monthly expenses.
  • Preparing a business plan is essential for everyone should do before they start a business.
  • The goal should be an easy-to-follow site that highlights your experience and what bookkeeping services you offer.
  • Its biggest drawback is that it only offers basic bookkeeping services, excluding bill payment and invoicing.

But the type of professional you hire depends on your business needs. Financial responsibilities vary based on the size of your business, the number of workers you employ, and more. To get a better idea of what your business might require, let’s explore the differences between bookkeepers and accountants. Most entrepreneurs start a business to be their own boss and do what they love. Running a company, though, isn’t all about visionary leadership and big ideas.

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Referrals are the most effective marketing tool for virtual bookkeepers and accounts. Outsourced bookkeepers like yourself can offer flexibility to adapt, see things from an outside perspective, and be more cost-effective for the company. Your client doesn’t have to pay for your time-off, health insurance, 401k, and share of payroll taxes. On the basic level, virtual bookkeepers record daily financial transactions for a business, and they do it all remotely instead of working on-site. Virtual bookkeeping means categorizing, reconciling, and recording financial transactions online using cloud-based software.

virtual bookkeeping services

These roles have become more dominant as enterprises adopt cloud-based software to meet their necessities. If you’ve been thinking about becoming a bookkeeper, now’s the time to start. There are minimal start-up costs, flexible working hours, room for growth, and pay ranges from $20 to $40/hour.

Best for Small Businesses

We’ve analyzed the best bookkeeping services to help you find the right solution quickly and easily. We selected these services based on their service options, pricing, customer service, reputation and more. Bookkeeping services start at $399 monthly and are only available with the Enterprise plan, which also includes priority support and access to financial reports. Its bookkeeping services include a free, 30-minute consultation with an account manager, a review of your books year-to-date, and an action plan created each quarter with specific recommendations. As your business grows and potentially takes on funding, the accrual-based and advanced bookkeeping services that it offers will be especially useful.

Decimal partners with accounting management software like QuickBooks, Gusto, and to drive better financial visibility. Thus, overlooking bookkeeping inadvertently leads to financial mess and mismanagement, apart from being an accounting nightmare during year-end. Bookkeeping is indeed a vital errand in the intricate world of business, where financial trades and documents flow continually.

Proper bookkeeping makes tax preparation much easier, especially when you have separate accounts for business and personal use. The right bookkeeping procedures can prevent missed payments and provide better records to improve your tax return. The IRS requires business records to be available at all times for their inspection, and Receipt Template in Word Free Download if they do examine your tax returns, clean books ensure you can explain everything you reported. Bookkeeping goes well beyond organizing your bank and other financial statements in the right folders. With solid bookkeeping practices, you have a better idea of which invoices clients need to pay and which vendors you need to pay.

How To Start A Virtual Bookkeeping Business

A trustworthy software will help you stay on top of your clients’ bookkeeping and better manage the workflow. Having the right tools and support in place makes a big difference, and your clients will love you for it. A business email address that uses your company domain (, and your name gives your virtual bookkeeping company a polished look. Minimally, you’ll need $1,000 to get started if you already have a laptop.

If you’re reading this and feel like it’s something you can do, do it. Many virtual bookkeepers start with zero experience and continue to earn up to $80/hr and more. Don’t worry, we cover all the in-depth tactics in the resources for starting a virtual bookkeeping business below. A virtual bookkeeping business is one of the lowest-cost businesses in existence.

While Bookkeeper360 is our best recommendation for Xero users, it also works well for QuickBooks Online users dissatisfied with the limited services of QuickBooks Live. If you are behind on your bookkeeping, you can use Bench’s Catch Up and Retro bookkeeping services to bring your books up to date. Unlike most other outsourced bookkeepers on our list, Merritt Bookkeeping doesn’t offer any in-house add-ons for payroll and tax services.

Virtual bookkeepers work online and remotely for their clients, and this is a distinguishing feature. Instead of working on-site as they reconcile bank and credit card accounts and process payroll, online bookkeepers do everything remotely using cloud-based accounting software. Bookkeepers would enter a company’s financial transactions after they had already happened. Today, virtual bookkeepers can easily add bill pay services to their offerings thanks to digital, cloud-based solutions.

What Is Virtual Bookkeeping?

You can use its monthly financial reports to assist with filing taxes, and it provides a simplified issuance and electronic filing of 1099s for your contractors at an additional fee. There are three pricing tiers for QuickBooks Live, which are based on your business’s monthly expenses. In addition to the cost of QuickBooks Live, you will pay a monthly subscription fee for QuickBooks Online, which ranges from $30 to $200. While it lacks its own mobile app, you can use QuickBooks Online’s app to access your books. It’s ideal for businesses looking to outsource their bookkeeping with a full-service accounting firm. The virtual bookkeeping providers above might be our favorite—but if they don’t quite fit your needs, we understand completely.

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