Making the Switch to Virtual Accounting
Everything seems to be virtual these days, virtual learning, virtual meetings, virtual events, virtual tours, and even virtual accounting. However, virtual accounting has been around for a quarter of a century but has recently gained more popularity as a result of the pandemic. So, what is virtual accounting? Virtual accounting, also referred to as remote accounting, flexible accounting, or cloud accounting, allows accountants to work from any location instead of commuting to a client’s physical business or office. The business grants the accountant remote access to their server, financial documents, and software programs. Many virtual or cloud-based accounting firms offer a variety of business services. Consultance Accounting specializes in accounting system optimization which involves a customized approach to integrating the best technology available.
What are the Benefits of Virtual Accounting?
Typically, virtual accounting services are less expensive than an inhouse accountant. Hiring a full-time employee to do accounting for your company or hiring an outside accounting firm can get expensive. Virtual or remote accountants save a company money because they do not need to travel to a business to get documents or commute to an office to work which reduces travel expenses and overhead costs.
Virtual accountants save companies time because less time is spent hiring and training employees for the accounting position. Automating processes save time and reduce inconsistencies in financial management. Bookkeeping and accounting documents are automatically retrieved which reduces the time spent with document management. For example, clients can scan receipts and bills which are automatically posted to QuickBooks instead of having to enter the information. This also allows employees and business owners to spend time on what is important.
Convenience and Availability
All information is securely hosted in a cloud which is accessible anywhere anytime. If a business has a question or needs information, a virtual accountant can access that information while at their child’s soccer game or when they are out of town. Conversely, if a business owner needs a financial report, contract, employee payroll, or payment history the business owner can access the cloud software and get that information in real time from anywhere. Real-time access to key financial information helps with better timely decision making, cost control, and budget management.
Making the Switch to Cloud-Based Accounting
Consultance Accounting is a technology-based accounting firm with the vision and proficiency to deliver efficient, manageable, and cost-effective accounting services. We collaborate with best-in-class technology partners to create a customized platform that will substantially reduce the amount of time and effort you must spend on your accounting activities while receiving the highest quality accounting services. The results will be simplified document management, improved cash management, and real time metrics and analytics that provide you with greater insights into the financial health of your organization. You will be able to make better business decisions – that impact your bottom line – with greater confidence. Contact Consultance today for assistance with making the switch to flexible accounting or any other accounting and bookkeeping needs.