Hiring An Accounting Virtual Assistant - Real Estate Virtual Assistant

Virtual bookkeeping assistants are becoming a go-to resource for small business owners as a cost-effective way of managing their financial affairs.

Keeping track of all your financial incomings and outgoings can eat away at your valuable time, but the biggest headache comes when you fail to keep up with your bookkeeping.

Hiring a virtual assistant to document your financial activities correctly will prove invaluable when filing your tax returns. The last thing any business needs is hefty fines for late or incorrect tax returns.

Keep reading to learn the critical things you must know before hiring a virtual assistant for all those dreaded bookkeeping tasks.

What Tasks Can You Outsource To Virtual Bookkeeping Assistants?

Here are three vital benefits of hiring a bookkeeping virtual assistant.

Enter Bookkeeping Records

Businesses hire virtual accountants to manage their bookkeeping, allowing in-house staff to focus on other dollar-generating tasks.

Virtual assistant bookkeeping services help businesses of all sizes navigate the tricky processes of keeping financial accounts up-to-date and correct.

Many company owners fall into the trap of handling their sales tax returns themselves without the right expertise.

As your turnover revenue increases, so do the figures you must handle when managing the books. Therefore, it is vital to hire a skilled accounting virtual assistant.

Manage Invoices

As a business owner, doing your bookkeeping may seem like a good idea, but inevitably you will encounter problems if you don’t manage invoices correctly.

A purchase invoice must be issued for every product you sell and the same for every service or product you buy, allowing you to keep track of every transaction that goes through your business.

Return On Outsourcing Handling these invoices can be time-consuming; therefore, virtual assistants must be skilled and knowledgeable in creating invoice templates to be issued with each sale.

The virtual bookkeeping assistant you hire must also repeat the process for every financial business expense your company incurs.

Knowing you can entrust these financial duties to your virtual assistant bookkeeper gives you peace of mind to concentrate on generating additional sales for your business.

Prepare Financial Data Reports

Attempting to write detailed financial reports is a bad idea if you don’t have the right skill and knowledge; this is why small businesses hire virtual assistant bookkeeping experts.

It requires skill to extract data from your business accounts, make sense of it and then write an easy-to-follow but professional report; your virtual accounting services provider must be able to do this.

As well as writing detailed reports, they must devise a long-term financial strategy based on annual company figures to achieve business growth.

Virtual assistants with a financial affairs background can advise companies on the best way forward and how much budget they have each year.

Critical Skills To Focus On

Here are four areas your virtual assistants must be skilled in before you hire them.

Real Estate-Specific Financial Knowledge

The VA you hire must have experience specific to the real estate industry to do the job to the required standard.

They will need experience managing all your company’s financial transactions, including large figures, paying bills, and managing all your taxable accounts. In addition, they will also have to be able to compile ledgers and write expense reports easily.

The person you hire will have excellent organisational skills as they must manage multiple transactions and separate them into different sections.

Attention To Details

Whenever you are dealing with finance, attention to detail is vital.

Why Your Agency Needs A Real Estate Virtual Assistant For example, if your virtual assistant miscalculates your accounts by a few hundred dollars a month, which is ongoing, it will cause your business substantial problems moving forward.

Accuracy is important for any VA but is particularly vital for bookkeeping assistants due to the tax implications that could arise, leading to hefty fines imposed by the government.

Trustworthy

It may seem a simple requirement, but being trustworthy as a virtual assistant bookkeeping service provider is paramount.

The last thing any business needs is to hire someone untrustworthy, especially when they are in charge of dealing with company finances.

Building trust and understanding in any business relationship takes time, but honesty and trustworthiness are vital.

As a business owner, trusting your staff to be able to do the job you pay them for without causing any unnecessary stress is a must.

General Account-Keeping Skills

Hiring a virtual bookkeeping VA is a good way to ensure your business runs smoothly, but the person you hire must know all general accounting principles.

For example, to calculate taxes correctly and ensure your balance sheets match up, they must know how to use the latest accounting software to help them in their role.

As well as using accounting software, they will use communication tools to make their job easier, which is vital when avoiding costly financial errors.

Benefits For Your Business

Here are three main benefits of hiring virtual bookkeeping assistants.

Cost Savings

Hiring A Virtual Assistant With A Simple 5 Step Process Saving money is always a decisive factor in all business decisions, and hiring a virtual assistant for bookkeeping will save your business money.

Paying remote workers hourly for tasks is far more cost-effective than making them full-time employees and incurring additional employment fees.

Time Savings

Payroll management, financial reporting and the whole bookkeeping process are time-consuming tasks that require skill, so hiring a professional is an excellent time-saving option rather than doing your bookkeeping.

The time you save can be wisely spent on other dollar-generating areas of your business, like dealing with multiple clients.

Faster Data Entry

Hiring a virtual bookkeeper allows faster data entry, which helps prepare financial reports on time every time.

Experienced virtual assistants will be able to input your financial data at a fast and accurate pace which will allow you to view your accounts more easily and also allows you to stay on top of tax return deadlines.

More Flexibility

Hiring accounting virtual assistants allows you the flexibility you need when calculating how many hours a week you need to hire them to manage your books and look after all your financial statements.

Having that degree of flexibility allows you to increase or decrease the hours they work depending on the needs of your business.

Let Us Help You Hire The Right VA

Hiring a virtual bookkeeping assistant is a smart, cost-effective move if you want to ensure your company’s financial affairs are managed correctly.

Instead of struggling to get all your financial statements processed yourself, which increases the chances of mistakes, hiring a virtual assistant bookkeeping services provider makes sense.

We can help you source, hire, train and manage the perfect accounting virtual assistant to meet your needs.

Call us today to find out how quickly and cost-efficiently we can get you up and running.

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More businesses around the world are outsourcing services to virtual assistants. From small- scale businesses to Fortune 500 companies, many have discovered and acknowledged why contracting virtual assistants is a good business strategy.

Virtual assistants are Internet- based professionals who are contracted to handle a specific task or set of responsibilities. They work from a remote location; usually from home and are generally considered self-employed or proprietors of a business that offers virtual assistance services.

Over the last 15 years, outsourcing has grown to become an important component in business development strategy. What was once viewed as a stop- gap measure to address cost reduction has evolved into a process that can actively contribute to revenue generation.

The exponential growth of outsourcing corresponds with increasing turbulence in the global economy. Political regimes are changing; new foreign policies are being enacted and economies are re-aligning their resources.

There is a growing trend among companies to integrate a remote staff member within their work force. In 2011, Yahoo! CEO Marissa Meyer introduced a remote worker plan where 10% of staff worked from home. A few years later Meyer increased the distribution to 15%.

While Meyer chose not to maintain the program, other companies such as United Health Group, AETNA, IBM, AMEX and Xerox started their own remote worker programs.

Contracting the services of a real estate virtual assistant can help with those non dollar productive tasks. From taking and making calls, preparing contracts, updating lists, arranging inspections and marketing.

If you can’t manage time efficiently, your productivity will suffer and ultimately affect your agency’s profitability.

There is an option that will enable you to exponentially increase your productivity.

The Virtual Assistant was once the best kept secret of successful entrepreneurs. However once Tim Ferris, Michael Hyatt and James Schramko shared how their online employees allowed them to grow their businesses, others wanted to experience the same successes as well.

But as with most professions, not every candidate who signs up can get the job done.

Increasing demand for virtual assistance work has blown open the doors of opportunity for those who want to cross over to the online profession.

If you want to maximize the benefits of outsourcing, you may want to outsource to Philippines. It has been the primary destination for global outsourcing since 2013 and its industry continues to grow at an annual rate of 20%. If you want to know “why”, here are 7 reasons you should outsource to the Philippines:

High Literacy Rate – At 98%, the Philippines has one of the highest literacy rates in the world. This is quite an achievement considering the Philippines is essentially a developing economy.

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