Virtual bookkeeper

Bookkeeping Accounting: A mandatory business task

Bookkeeping accounting is a task that every business undertakes to keep track of financial transactions.There are several ways to manage books of accounts. But as a small business owner, you have to learn to choose the method that would best suit your requirements.

What is virtual bookkeeping?

Virtual bookkeeping is a service offered by many outsourcing companies. It is similar to having your own in-house bookkeeper, except that is not exactly “in-house”! You can have your bookkeeping tasks done virtually and save overhead costs.

Why opt for virtual bookkeeping?

The funny thing about bookkeeping is that it seems like a task so simple anybody can manage. What's so difficult about noting down figures?

Well, there is every possibility that it could turn into a nightmare you cannot wake up from! Unless you have trained bookkeepers to manage books of accounts, you run the risk of making mistakes that you just cannot afford to make. You have to make sure that your bookkeepers know what they are doing.

However, a trained bookkeeper arrives at your doorstep with a truckload of additional expenses. You have to provide office space, training, computer, software and yes, a truckload of stuff for him to maintain correct account books.

With virtual bookkeeping, what you are looking at is a trained bookkeeper minus his truck.

How does virtual bookkeeping work?

This is how it works.

1. As the small business owner, you choose the bookkeeping accounting software that you would like the virtual bookkeeper to work with. For example, QuickBooks, Sage, KashFlow and so on.

You make the source documents such as invoice, receipts etc available in electronic format. For instance, you can scan them.

The virtual bookkeeper then gains remote access to your own computer on a secure connection. It is like your bookkeeper works on your computer without being physically present.

He updates your financial records and logs out.

And Tada! You can view your updated records the next morning!

Virtual bookkeeping: How security constraints associated are managed

The first objection anyone could raise to virtual bookkeeping would be associated with data security. The financial matters of any business should stay confidential – no questions. The idea of transferring source documents like invoices and receipts to someone you have never met in your entire life could freak you out! What if they misuse them?

So yes, there are risks associated.

But the good news is that they can be overcome. The virtual bookkeeper usually has to have two passwords, one for you virtual software account and another for your PC. Unless he provides the right ones, he cannot access the accounts.

And usually, all outsourcing companies have high end security systems such as 24/7 surveillance and 128-bit encryption and so on.

So, if it is any consolation, there are risks, but none that cannot be overcome.

Getting help from Integra

Integra Global Solutions is a provider of outsourced bookkeeping services. The fact that we operate from India gives us an edge over our competitors in that our clients would also have local support in the USA and the UK.

With our virtual bookkeeper at your service, you will sleep when you ought to sleep and eat when you ought to eat.

So, let us just leave Superman to do his 'thing', shall we!