Regardless of the form of ownership, any organization has to keep bookkeeping records. Bookkeeping organizes information about the assets and liabilities of an enterprise in monetary terms and records the business transactions that have occurred. Correct record keeping allows to control the efficiency of business operations, prevent errors and control the use of resources within the enterprise.
Surely many employers have already realized that doing business involves many risks and aspects. To be confident that all the bookkeeping is properly taken care of, you need to cooperate with a team that not only knows and understands the bookkeeping specifics but also quickly adapts to the technological innovations and current situation in the world.
Who is a remote bookkeeper?
A remote bookkeeper is a specialist who maintains the bookkeeping records of your company from a distance. If working with an outsourcing company, a specific bookkeeper is assigned to your business, with whom, if necessary, you can communicate by phone, via e-mail, or any other convenient way. The distance does not affect the efficiency of work in any way. In fact, there are many benefits to remote bookkeeping, which we will discuss next.
Remote bookkeeping benefits
Remote bookkeeping services have a number of advantages over an in-house bookkeeper. If you are just starting to develop your business or you have a small company, then it is unreasonable to hire specialists to do bookkeeping work in the office. The solution is remote bookkeeping conducted by professionals from an outsourcing company.
Financial outsourcing is an effective way of enhancing the transparency of a company’s business processes, optimizing its costs, increasing investment attractiveness, which consists of transferring financial functions to the outside highly qualified specialists.
The company has more opportunities to concentrate its efforts and resources on the development and improvement of its core business, and significantly minimize its tax and accounting risks, as well as significantly reduce the cost of maintaining full-time accounting department employees. This way you don’t have to hire and train worker(s), organize working space, pay employment taxes, and much more.
Regular changes in the legislation and regulations also complicate the bookkeeping process, especially if you are trying to do it yourself. The remote bookkeeping team consists of people who continuously monitor the slightest changes in the legislative framework – they are always ready to be the first to give recommendations regarding the changes themselves and their impact on the business.
The transfer of bookkeeping functions can occur either partially or completely, depending on the needs and preferences of each company. Moreover, there is usually no need to sign a contract with a remote bookkeeping company.
Other benefits of remote bookkeeping include:
- guaranteed experience of specialists, so no losses associated with the unskilled work of bookkeepers;
- transparent and high-quality bookkeeping with the help of modern accounting software;
- timely submission of reports;
- increased organizational flexibility and efficiency in making managerial decisions;
- no sick leave, no vacations, no unexpected quitting of employees;
- confidentiality and loyalty because the bookkeeping company cares about its reputation and wants every single client to stay with it.