One thing that is crystal clear in the minds of most business owners (especially nowadays when many side hustles have become main gigs) is just how many aspects of a business there are to keep a handle on – product development, strategy, marketing, funding, and the list goes on.
That said, there is one aspect of your business that cannot go overlooked: managing your business finances. It’s not an exaggeration to say that the extent to which you grasp your business’ finances can either make or break your business in the long run. For most small business owners in Vermont and throughout the U.S., a virtual bookkeeping service has become the best and most affordable option to keep them on top of their finances so they can focus on doing what they love.
Why is a virtual bookkeeping service ideal for small business owners?
7 Benefits of Hiring a Virtual Bookkeeping Service
#1 Virtual Bookkeeping Services Save You Money
When you choose a virtual bookkeeping service, you are essentially hiring an independent contractor. Virtual bookkeepers require no employment taxes, benefits, or insurance, which can save employers a bundle. Plus, most virtual bookkeepers offer service packages, in which they agree to provide a set amount of deliverables during a specific time period, meaning you’ll never owe them overtime like you might an in-house bookkeeper.
#2 Virtual Bookkeepers Save You Time
Your business’ financial status cannot be overlooked but instead of pouring over figures for hours yourself each month, why not save that time and invest it in other aspects of your business? With a virtual bookkeeping service you get timely reports each month that outline your income, expenses, and overall revenue in clear, concise terms with itemized lists. Virtual bookkeepers are usually willing to review these reports with you if you have any questions and even point out areas in which your business can improve financially.
#3 A Virtual Bookkeeping Service Often Includes Valuable Training
Reviewing reports with a bookkeeper can give you some much needed insights into the financial well-being of your business, but a good virtual bookkeeper won’t stop there. They can teach you valuable tips and techniques to help you create a budget, help you learn how to use accounting software effectively, and even keep you up to date on any changes to tax laws that might affect your business.
#4 Virtual Bookkeepers are Flexible
Virtual bookkeeping services are always tailored to your business specifically, meaning your bookkeeper can work as much or as little as your business needs. This is especially useful for businesses that have off seasons or businesses whose needs for financial services fluctuate.
#5 You Get Unbiased Reports
It’s always useful to have someone from outside of your core business operations take a look at your finances. A fresh pair of eyes can catch mistakes quicker and offer a fresh perspective on how well your finances are currently managed.
#6 Online Access to Your Business Reports 24/7
Virtual bookkeeping services center around the use of accounting software that both the owner of the business and the bookkeeper have access to. This means that you can review your books anytime from the comfort of your office laptop or even through an app on your mobile phone.
#7 Secure and Reliable Data Backup
Virtual bookkeeping services include keeping your account information safe and secure. Should you need access to past reports, you can contact your bookkeeper who can show you how to find, download, and even print reports from any time period since they began performing bookkeeping services for your business.
Get Help Bookkeeping in Vermont
Creative Solutions is an affordable way to handle bookkeeping in Vermont without hiring a full time, in-house accountant. Using modern computing systems and QuickBooksOnline software, I offer virtual bookkeeping services to small businesses and entrepreneurs as a secure and precise accounting solution.
Contact me today to discuss how I can help your Vermont small business stay financially healthy and become an established fixture in the local community you love.