A lot of virtual bookkeepers use accounting software like Xero or QuickBooks Online. Both are easy to navigate for bookkeepers and accountants alike but require some learning for the typical small business owner. When a virtual bookkeeper uses software you’re comfortable with, you have a smoother onboarding experience and can hit the ground running. You should outsource your https://www.bookstime.com/ bookkeeping tasks to a virtual bookkeeper if you don’t have the time for and knowledge of DIY bookkeeping. As your business grows and your financial transactions increase, you will need a virtual bookkeeper to do routine tasks, like classifying transactions and reconciling bank accounts. With its powerful mobile app, it is also useful for businesses working remotely.
Block Advisors aced our pricing category and received higher-than-average marks in the other criteria. It doesn’t offer a mobile app or unlimited meetings, so Bench is a better option in this case. However, with Block Advisors, you’ll be assigned a dedicated bookkeeper who will provide access to video meetings, and there is also a phone number to call if you need virtual bookkeeping services support. 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. After you’re matched with a dedicated bookkeeper, you can opt to be trained on day-to-day bookkeeping tasks, which is ideal for novice QuickBooks users.
Time back in your day
However, virtual accounting typically encompasses broader services beyond basic bookkeeping tasks. Virtual accountants may provide financial analysis, tax planning, budgeting, forecasting, and strategic financial advice. Yes, you can hire a bookkeeper instead of an accountant, depending on your business needs and the scope of financial services required.
With a flat fee of $190 per month, Merritt Bookkeeping received a perfect score for pricing. It also received the highest user review score of all the providers on our list. Kelly Main is staff writer at Forbes Advisor, specializing in testing and reviewing marketing software with a focus on CRM solutions, payment processing solutions, and web design software. Before joining the team, she was a content producer at Fit Small Business where she served as an editor and strategist covering small business marketing content. She is a former Google Tech Entrepreneur and holds an MSc in international marketing from Edinburgh Napier University. Magazine and the founder of ProsperBull, a financial literacy program taught in U.S. high schools.
How much does a virtual bookkeeper cost?
Businesses use virtual bookkeepers for several reasons, including cost-effectiveness, flexibility, and access to specialized expertise. Virtual bookkeepers operate remotely, eliminating the need for businesses to maintain in-house accounting departments or hire full-time staff. They can provide a wide range of bookkeeping services tailored to each client’s needs, from basic data entry and reconciliation to more complex financial analysis and reporting. The daily financial operations of your business, including the payments you’ve processed and the expenses incurred, are organized by virtual bookkeepers using bookkeeping software. Most bookkeeping services online will also send you updated financial reports and perform a monthly account reconciliation.
