Hiring Bookkeeping Services: It's Not as Difficult As You Think
There are many reasons you may be in search of a bookkeeper. Perhaps your business is growing and you no longer have time to keep on top of the day-to-day finances, or maybe it’s just not where your strength lies and you’d rather leave bookkeeping to the professionals.
Whatever the reason, many business owners say they struggle to find the right bookkeeper at their desired price point. This is generally because most small businesses don’t need a full-time bookkeeper. The benchmark for needing a full-time bookkeeper is typically 30+ employees and over a million in revenue per year. Employing someone part-time is harder than filling a full-time position because most individuals want to work for a full-time salary. Furthermore, it’s unlikely you have the office space and necessary equipment required for an in-house bookkeeper.
Luckily solutions are out there, and we’re not talking about learning Quickbooks or devoting your precious time to teaching yourself how to manage your finances. Virtual bookkeeping has paved the way for small businesses to get the proper financial support they need at the desired price point.
What Does Virtual Bookkeeping Mean?
The term “virtual” conjures up images of computers doing the work in place of humans, however, this couldn’t be further from the truth. What virtual bookkeeping really means is that you have an experienced professional providing support from a remote location.
Through cloud-based software, you are able to access all your reports and financial documents the same way your virtual bookkeeper can. You will communicate with them online or over the phone, making it a simple and seamless working relationship.
What Does a Virtual Bookkeeper Do?
It’s important to note that a bookkeeper is not the same as an accountant and therefore does not perform the same tasks. Unlike bookkeepers, accountants can deal with your taxes and provide forecasting and planning advice that will enable you to manage your cash flow better and scale your business.
The Benefits of a Virtual Bookkeeper
What Should I Look for When Hiring a Bookkeeper?
Bookkeepers are not required to have any professional qualifications or any formal training to practice, but of course it helps if they do. Most have learned through on the job experience. This makes it a bit more tricky on how to pick the right fit, that’s why by choosing to work with a business like Evolve CFO, you don’t have to worry about that because we have highly trained professional bookkeepers with years of experience on our team with the proper training needed to successfully help your startup. If you decide you want to seek an individual candidate, here are a few things you can assess the candidate on:
What are your certifications?
How many startups have you previously worked for?
Which software do you use?
How will you work with me and keep me informed?
What is your working style?
Are Virtual Bookkeeping Services Expensive?
Evolve CFO has recognized that businesses require different levels of services depending on where they are in their growth. For example, a startup requires less bookkeeping than a business that’s experiencing rapid expansion.
Because of this, there are three service options to choose from at different price points, plus a variety of optional extras. This allows you to customize your bookkeeping service, so you only pay for what you need. If you start at the lowest level and suddenly find you need to increase the services, you can easily level up.
Unlike hiring someone in-house, you will be paying a flat monthly fee rather than a salary. You’re also not responsible for finding and paying for sick leave cover or providing paid time off. Since Evolve CFO has a pool of bookkeepers available, you will never have to deal with any gaps in service.
How to Get Started With a Virtual Bookkeeper Service
Finding a virtual bookkeeper is typically far easier than finding and employing one in-house. For a start, you don’t have to go through lengthy interview processes to find the right person, nor do you have to produce and fill out employment contracts.
Evolve CFO virtual bookkeeping services are provided on a month-by-month basis. This means you’re not locked into a lengthy contract, but you have a dedicated team of professionals available to you when you need them.
By choosing a reputable provider like Evolve CFO, it’s unlikely you will have to change bookkeepers because we will have taken the time to match you with the right type of bookkeeping service. For example, we first hold a discovery call with you to determine your needs and the level of service you require. This process makes finding an experienced and qualified bookkeeper a complete breeze. You can pretty much have your bookkeeper working for you as soon as you decide you need one.
If you need virtual accounting or consulting services too, then Evolve CFO can also provide these professionals when you’re ready. You can rest assured that all your business financials will be taken care of, freeing up your time to focus on making your new business a success!