The best remote bookkeeping services to offer in 2024 are:
Unlike traditional methods, virtual bookkeeping offers more efficient and accessible accounting service from anywhere. The U.S. Small Business Administration reports that there are 32.5 million small businesses in the United States. These businesses need virtual accounting services. A virtual bookkeeping service is more cost-efficient compared to traditional bookkeeping. It means higher profit margins and quicker break-even points for the business owner. This benefit increased the demand for virtual bookkeepers.
Kajea shared on her YT channel the services she offered as a virtual bookkeeper. She sets up the company's account on QuickBooks, Xero, or Wave. She also organizes the company's transactions in an accounting software. Invoicing and billing are also services she offers. She manages the company's inventory and sets up their financial reports.
This article enumerates 8 of the most-offered services by virtual bookkeepers. I'll discuss what services to provide, plus the common tools remote bookkeepers use. I'll also reveal how to get bookkeeping clients and where to find them.
Top 8 Services Virtual Bookkeepers Can Offer
Top 8 Virtual Accounting Software
Services Offered by Experienced Virtual Bookkeepers: Reddit
This virtual bookkeeper shared on Reddit the top services he offers. This includes tracking payables and reconciling supplier statements. He also disburses supplier remittance advice and adjusts accounts payable.
He also offers receivables, cashbooks, and general ledger management. This includes reconciliation of deposits and cash banking. He investigates variances and reconciles card merchant accounts. Revenue reconciliation is also part of the services he offers.
Payroll processing, annual accounts preparation, and cash flow forecasts are also among the services he offers.
What is a Virtual Bookkeeper?
A virtual bookkeeper manages a range of essential accounting tasks for businesses. They are financial professionals who use the latest software to categorize transactions. They reconcile bank statements and monitor accounts payable and receivable. Virtual bookkeepers maintain accurate financial records, prepare comprehensive financial statements and reports, and ensure compliance with tax regulations. They play a crucial role in assisting management with budgeting and forecasting.
What is the Difference Between Bookkeeping and Accounting?
Bookkeeping records and maintains financial transactions, while accounting interprets the collected data. The bookkeeping job logs sales, tracks expenses, and manages accounts payable and receivable. It reconciles financial statements. Accountants handle more complex tasks like auditing, forecasting, and advising on business decisions. Bookkeeping is typically more transactional and routine, while accounting requires more analysis and expertise.
What is the Average Virtual Bookkeeper's Salary?
The average salary of a virtual bookkeeper is between $53,269 and $61,700 annually or $24.31 per hour. The actual rates vary depending on their experience and skill level. Cloud-based accounting software and secure file-sharing platforms revolutionized this industry. It enabled bookkeepers to work remotely and offer flexible part-time or full-time services. Business owners save up to 50% on costs by hiring virtual bookkeepers. It's a strategic accounting option that optimizes financial management while reducing overhead expenses.
How To Decide on the Services You Want To Offer as a Virtual Bookkeeper?
Where Can I Find Remote Bookkeeping Clients?
Find bookkeeping clients in directories like QuickBooks ProAdvisor and Xero Partner. These platforms list virtual bookkeepers based on their expertise and the number of clients they serve. Profiles should be engaging and authentic to see optimal results. LinkedIn is another great platform for finding clients. Bookkeepers can easily find clients who need their services. Beginners can also find clients through staffing agencies like Accountingfly. They always have virtual and part-time listings for bookkeepers. Building your network with bookkeepers in your area also increases the likelihood of getting referrals.
How To Get Clients as a Remote Bookkeeper?
My Low-Maintenance Alternative to Virtual Bookkeeping
My low-maintenance alternative to virtual bookkeeping is local lead generation. This business builds simple websites for local businesses and ranks them on Google. It's low-maintenance because I don't need to constantly keep up with the client's demands. Income with bookkeeping can be inconsistent. It's hard to find clients if you're a beginner without an established network. The business is competitive, as many professionals are offering the same services.
Owning digital properties through local lead generation is a better online business. Small businesses heavily rely on local leads to grow their customer base. They're willing to spend to get high-quality leads that give them an edge over their competitors. There's less competition in local SEO compared to broader markets. Local markets have steady demand for leads with lower competition. This biz is more sustainable compared to virtual bookkeeping.
