What is a Bookkeeping Virtual Assistant?
A bookkeeping virtual assistant is a professional independent contractor who remotely manages the day-to-day finances of a firm. They provide all of the same services as an in-house bookkeeper but without the associated costs of office space, office equipment, transportation, or insurance. They also come from a wider pool of candidates, crossing borders across the world so your business can get the most ideal candidate that fits your needs.
How can a Bookkeeping Virtual Assistant Help My Business?
A bookkeeping virtual assistant can assist businesses in various ways, including:
- Handling tedious tasks like transaction entry and ensuring accurate and complete bank records
- Processing payroll for employees and contractors
- Assisting with the preparation of quarterly or annual taxes
- Generating spending pattern reports
- Guiding with QuickBooks
By delegating these responsibilities to a virtual bookkeeping assistant, business owners can devote more time and energy to more critical business activities and decisions. In addition, a virtual bookkeeping assistant can aid the business in staying profitable and sustaining positive cash flow. They can also suggest better ways to categorize expenses and accounts. Hiring a remote bookkeeping service is more cost-effective than creating an in-house accounting department, as businesses pay only for the work they require.
What should I Consider when Hiring a Bookkeeping Virtual Assistant?
When hiring a bookkeeping virtual assistant, you should consider the following: their qualifications, the cost of their services, the amount of time they can save you, their expertise, and the cost of hiring a full-time employee. Qualifications are important in order to ensure that the VA you are hiring has the right skills to do the job. The cost of services will vary depending on the VA’s qualifications and experience. Consider the amount of time you will save by outsourcing this task to a VA, as this will free up your schedule to focus on other core business activities. Additionally, look for a VA with expertise in your specific field or industry. Finally, be sure to factor in the cost of hiring a full-time employee, as this will likely be higher than the cost of hiring a virtual bookkeeping assistant.
What Qualifications Should a Bookkeeping Virtual Assistant Have?
When seeking to hire a virtual bookkeeping assistant, it is crucial to find someone with the appropriate qualifications.
The ideal bookkeeping VA should possess the following skills or qualifications:
- Aptitude with numbers
- An organized thought process
- Strong attention to detail
- High integrity
- They should also hold a certification from the American Institute of Professional Bookkeepers, a license from the National Association of Certified Public Bookkeepers, or possess an associate’s degree in bookkeeping or accounting.
- They should have unique abilities and knowledge of smart accounting and finance management methods.
- They should be proficient in the latest accounting software and able to comprehend intricate financial data.
What Bookkeeping Tasks Can a Virtual Assistant Perform?
A virtual bookkeeping assistant can carry out various duties that aid in the organization of your business finances. These responsibilities include:
- Keeping track of income and expenses
- Paying bills and preparing invoices
- Monitoring payments and sending payment reminders
- Balancing books and staying current on sales tax
- Creating financial statements
- Ensuring bills are paid on time
- Preparing balance sheets and profit and loss accounts
- Reconciling bank and credit card statements
- Maintaining financial data in accounting software
- Entering payables and receivables
- Preparing and submitting sales tax reports
What to Consider when Hiring a Bookkeeper Virtual Assistant?
Finding the right candidate can be a daunting task, but with the right tips and tricks, you can make the process smoother. We’ll provide you with the top 10 tips on how to hire a bookkeeper virtual assistant for your business.
1. Skillset
When hiring a bookkeeper virtual assistant, there are several skills you should consider. Find someone who can help you With your accounting needs. Additionally, it is helpful to find someone familiar with your industry, as they will better understand the specifics of your business.
Bookkeeping VAs should be able to keep track of income and expenses, pay bills, prepare and send invoices, follow up on payments, balance books, stay on top of sales tax, and create financial statements. The VA should also be able to do bank reconciliations and other similar tasks to ensure that your records are up-to-date and accurate. Finally, they should be able to prepare financial reports for sales tax filing, as well as submit the necessary documents needed for your annual taxes.
2. Experience
Bookkeeper virtual assistants should have at least 3 years of experience serving as an EA (Executive Assistant) and/Bookkeeper, and/or Account Manager. Preferably, the assistant should be experienced in working as a Virtual Executive Assistant and/or Bookkeeper and/or Account Manager, and be able to demonstrate expertise and gratitude by serving as a trusted advisor to Clients. Furthermore, they should have the ability to work full-time in a virtual role, be available for at least 30 hours/week to support Clients and deliverables, have comfort with their skillset, and know how to set boundaries.
3. Professionalism
When hiring a bookkeeper virtual assistant, it is important to consider professionalism. A professional virtual assistant should be honest and dependable and have the expertise to provide quality services. They should also possess certifications or qualifications from relevant organizations that show they have the necessary skills. Furthermore, the virtual assistant should have the technological know-how to use essential accounting software. It is also important to make sure that the virtual assistant is up to date with the field’s technological advancements.
4. Service Quality
When evaluating the service quality of a bookkeeper virtual assistant, it is important to consider their qualifications, the services they offer, their attention to detail, and the cost of the services. Qualifications, such as certification by the American Institute of Professional Bookkeepers or a license with the National Association of Certified Public Bookkeepers, show that the VA has more expertise than the average accounting virtual assistant. The services they can offer, such as preparing financial reports, and balance sheets, reconciling bills, managing payroll, and invoicing, should also be considered to determine if they can meet your business needs.
5. Support
When hiring a bookkeeper virtual assistant, it is important to consider the type of support you need. Freelancing platforms provide a more cost-effective solution for bookkeeping, but they may not be able to provide as many specialized services as a professional agency. Agencies are more reliable and typically offer a wider range of services, such as preparing financial reports and balance sheets, reconciling bills, managing payroll, and invoicing.
6. Task delegation
Hiring a bookkeeper virtual assistant can have a significant impact on task delegation. By utilizing virtual assistants, businesses can delegate their bookkeeping tasks with maximum transparency, allowing them to benefit from a more efficient and cost-effective approach. With virtual assistants, businesses can outsource their bookkeeping requirements and create individualized plans based on their budgets. Furthermore, virtual assistants can use both manual and automated bookkeeping tools to reduce overhead costs and offer services such as paying bills on time, reconciling bank and credit card statements, preparing invoices and general ledgers, and helping to create year-end reports. With the help of a bookkeeper virtual assistant, businesses can ensure their financial data is up-to-date, accurately managed, and organized, and that they are getting the most out of their task delegation.
7. Availability
When hiring a bookkeeping virtual assistant, availability is an important factor to consider. This is because you need to make sure that the virtual assistant is available when you need them to work. For instance, if you require a certain number of hours of work per week, you need to make sure that the virtual assistant’s schedule is flexible enough to accommodate your needs. Additionally, you need to ensure that your virtual assistant can work during the hours that are most convenient for you. This way, you can ensure that the virtual assistant is able to get their work done on time and in an efficient manner.
8. Communication
When hiring a bookkeeper virtual assistant, it is important to consider their communication skills. Virtual assistants should be able to communicate clearly and effectively with clients. They should also have the ability to understand instructions and questions and provide concise and easy-to-follow answers. Additionally, they should have good problem-solving abilities, as well as the ability to provide timely responses. Specific communication skills to look for in a bookkeeper virtual assistant include:
- Active listening: A virtual assistant should be able to listen carefully to the customer’s needs and accurately interpret their requests.
- Written communication: A virtual assistant should be able to write clear and understandable documents such as reports, emails, and invoices.
- Verbal communication: Virtual assistants should be able to express themselves clearly and professionally.
- Interpersonal skills: A virtual assistant should be able to work well with customers, demonstrate empathy, and maintain a positive attitude.
9. Task tracking
Task tracking is an important part of the hiring process for bookkeeper virtual assistants. Knowing the scope and complexity of tasks they will be responsible for is key to ensuring successful work completion. This can help to identify potential areas of improvement and make sure that tasks are completed efficiently and on time. By tracking the number of tasks each virtual assistant is assigned, employers can ensure that the workload is spread out and all tasks are completed. Additionally, task tracking can be used to evaluate the progress of virtual assistants and can help employers determine whether they require additional services or additional virtual assistants to complete their tasks.
10. Time management
By hiring a bookkeeper virtual assistant, business owners can save time and energy that could be better used towards growing their business. Time management is a key factor in the hiring of a bookkeeping virtual assistant. With the help of a productivity management tool like Time Doctor, businesses can keep track of the exact amount of time a VA spends on each task and monitor the websites visited during work hours. This helps to ensure that tasks are completed efficiently and accurately.
The Top 10 Tips on How to Work Efficiently with a Bookkeeper Virtual Assistant
1. Set clear expectations
When working with a bookkeeper virtual assistant, several clear expectations should be set. Firstly, the availability of the virtual assistant should be discussed and confirmed in order to ensure that the business’s needs will be met. Secondly, a test should be completed to assess the virtual assistant’s accuracy and ability to make corrections. Thirdly, the number of hours expected to be worked should be discussed and established. Lastly, the security of the financial information should be discussed and confirmed in order to ensure the data remains safe and secure.
2. Communicate efficiently
When communicating with your bookkeeper VA, it’s important to be clear and concise. Make sure that you provide all the necessary information upfront, including any relevant documents or data. Use simple language and avoid technical jargon that your bookkeeper may not understand. Consider using bullet points or numbered lists to break down complex tasks or instructions into smaller, more manageable steps. It’s also important to establish clear communication channels and a regular schedule for updates and check-ins. By communicating efficiently with your bookkeeper VA, you can ensure that they have all the information they need to perform their job effectively and efficiently, which can help you to streamline your business operations and achieve your goals more quickly.
3. Provide instructions effectively
Providing clear and effective instructions to your bookkeeper VA is essential for ensuring that they understand what tasks they need to complete and how they should be completed. To provide effective instructions, it is important to be clear and concise, using specific examples whenever possible. Break down complex tasks into smaller, manageable steps, and provide detailed guidance on how each step should be completed. Use bullet points or numbered lists to make your instructions easy to follow, and avoid using technical jargon or industry-specific terms that your bookkeeper VA may not be familiar with.
4. Provide a workload that is manageable for the VA
Providing a workload that is manageable for the Bookkeeper VA is crucial for ensuring that they can perform their tasks effectively and efficiently. Overloading them with too much work can lead to burnout and errors while underloading them can result in the underutilization of their skills and resources. To create a manageable workload, it is important to define the scope of work clearly, prioritize tasks based on their importance and deadline, and establish realistic timelines for completion.
5. Ensure you have a good rapport with your bookkeeper VA
Having a good rapport with your bookkeeper VA is essential for a successful and productive working relationship. Here are some tips to ensure that you establish and maintain a good rapport with your bookkeeper VA:
- Communicate regularly: Establish clear communication channels with your bookkeeper VA, and make sure that you communicate with them regularly. Regular communication helps to build trust and ensures that everyone is on the same page.
- Set clear expectations: Set clear expectations from the start, such as the scope of work, deadlines, and frequency of communication. This helps to ensure that there is no confusion or miscommunication down the line.
- Be respectful: Treat your bookkeeper VA with respect and professionalism. Remember that they are an important part of your team and their work is crucial to the success of your business.
- Provide feedback: Provide regular feedback to your bookkeeper VA, both positive and constructive. This helps them to understand what is working well and where improvements can be made.
- Celebrate successes: Celebrate your bookkeeper VA’s successes and achievements. Recognize their hard work and efforts, and show appreciation for their contributions to your business.
By following these tips, you can establish a good rapport with your bookkeeper VA and create a positive working relationship that benefits both you and your business.
6. Utilize software tools to streamline the process
- Use accounting software that is compatible with your virtual assistant. By using the same software, you will be able to minimize onboarding time and get to work quickly.
- Utilize instant messaging tools, such as Slack or Telegram, to communicate with your virtual assistant. This can help you quickly exchange information and collaborate effectively.
- Video and audio calling tools, such as Google Meet, Microsoft Teams, and Zoom, can also be used to easily stay in communication with a virtual assistant, even if they are on the other side of the world.
- Invest in a productivity-tracking tool like Time Doctor to monitor how much time your virtual assistant is spending on each task. This can help you measure their productivity and adjust your workflow accordingly.
- Ensure that the virtual assistant you hire is experienced with the latest accounting software and technologies to help you streamline the process.
- Utilize web-based project management tools such as Trello, Asana, and Clickup to easily manage tasks and collaborate with your virtual assistant.
- Take advantage of cloud-based services offered by platforms such as Intuit QuickBooks and Sage 50 to help you keep track of your finances and payroll. This will help make bookkeeping more efficient.
7. Consider Compensation
When setting the compensation for a bookkeeper virtual assistant, consider the level of experience and expertise required for the role, the number of hours you expect your virtual assistant to work, and the going rate for bookkeeper virtual assistants in your region.
8. Have a trial period
When hiring a virtual bookkeeping assistant, it is important to have a trial period to ensure that the assistant is a good fit for your business and that their skills meet your needs. This trial period allows you to assess the virtual assistant’s accuracy and attention to detail and to ensure that their schedule can accommodate your business’s needs.
9. Check the credentials of a VA
Research the candidate and their previous work experience. Look for work experience with a financial institution, a reputable agency, or a reputable bookkeeping firm. Inquire if the candidate has any certifications or training related to bookkeeping.
10. Have a reasonable budget
Having a reasonable budget when working with a bookkeeper Virtual Assistant is essential to the success of any business. A budget helps guide the decision-making process and ensure that resources are allocated appropriately. A budget can provide an overview of how money is being spent and helps to identify areas where costs can be reduced. It also allows you to easily track and monitor expenses, which can help you identify areas of potential savings.
Conclusion
Hiring a bookkeeper virtual assistant can be a great way to save time and money for your business. By following these top 10 tips, you’ll be able to find the right candidate for the job. If you need help finding the right bookkeeper virtual assistant, contact StaffingSolutions.io today.
FAQs
Q: What skills should I look for when hiring a bookkeeper virtual assistant?
A: Look for candidates who have experience in bookkeeping and accounting software, strong organizational skills, attention to detail, and good communication skills.
Q: How can I evaluate candidates for a bookkeeper virtual assistant position?
A: You can evaluate candidates by conducting virtual interviews, checking their references, and giving them a trial task to complete.
Q: What should I consider when setting the compensation for a bookkeeper virtual assistant?
A: Consider the level of experience and expertise required for the role, the number of hours you expect your virtual assistant to work, and the going rate for bookkeeper virtual assistants in your region.
