Okay so you run a small business and things are super busy! You’ve got lots to organise – employees, clients, projects, supplies, website, marketing and dare I say it, yes, the bookkeeping and tax compliance tasks! Some business owners prepare their own books but many are outsourcing the task to professional bookkeepers instead. Some prefer to employ an onsite bookkeeper but others have chosen to use the services of virtual bookkeepers. They have done this for various reasons, the main ones being:
Done well, the virtual bookkeeping relationship can be very beneficial for both the bookkeeper and the business owner. Done poorly, the virtual relationship will fall over leaving all concerned a little worse for wear. So are there any pitfalls to virtual bookkeeping? Unfortunately yes, as with any system, things can go wrong. Here is our list of common pitfalls:
Many SME’s are outsourcing their bookkeeping and BAS tasks to professional bookkeepers. This frees them up to get on with running their businesses and gives them peace-of-mind that their bookkeeping is correct and compliant. It’s a great thing to do especially if you loathe bookkeeping! While some SME’s prefer to employ an on-site bookkeeper, many are turning to virtual bookkeepers for assistance. So just what is a virtual bookkeeper and how do you work with one?