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Your Complete Guide for Hiring a Remote Bookkeeper
In almost every sector, remote work is more prominent than ever,
especially for important tasks such as bookkeeping. The process of
accounting and bookkeeping, which is often regarded as a very
important task, is, in fact, a core element of financial operations and
planning. It is much like a GPS, which helps navigate toward growth
and success. Remote bookkeepers are affordable to hire compared
to having a full
team and helping firms manage their finances
irrespective of
location. If bookkeeping tasks are managed by
companies remotely, it helps cut costs and decentralize operations
and growth. In this blog, we will provide all the information you need if
you are considering hiring a remote bookkeeper.

https://www.whizconsulting.net/us/services/financial-reporting-services/

» What is Remote Bookkeeping?
Remote bookkeeping is the process of managing financial records
and transactions for businesses from a remote location using cloud-
based accounting software. A remote bookkeeper is a professional
who works remotely and handles tasks like entering data, processing
invoices, and preparing financial reports. This enables firms to
obtain financial information promptly and securely without an in-
house bookkeeper.
Remote bookkeeping services are convenient and inexpensive
because the bookkeeper’s
location does not matter, and rent and
utilities are not
incurred. Companies and organizations can
concentrate on the main aspects of operation while their remote
bookkeeper handles their financial records well. It is of greater value
for small
to mid-sized businesses
that
require professional
bookkeeping services but may not want to hire full-time, in-house
employees. Hiring
remote bookkeeping
services
can help
organizations optimize their business solutions as they get accurate
and up-to-date financial information.

https://www.whizconsulting.net/us/blog/virtual-accountant-guide/

» How does Remote Bookkeeping Work: Process
1.Provide Access:
2.The first activity is to grant access of your data to the individual who is providing
remote bookkeeping services to you. This can often be done through secured
cloud-based accountancy packages where both parties get an actual-time view.
3.Data Analysis:
4.Once authority is obtained the remote bookkeeper goes through the company’s
historical records to determine the condition of the books at the current stage and
whether there are gaps or problems.
5.Understanding Requirements:
6.A virtual accountant understand the bookkeeping business requirements that he
needs to provide, be it monthly financial reports, expense statements or preparation
of taxes, are clearly understood.
7.Processing of Data:
8.The remote bookkeeper analyzes financial data to record the money flow through
the business and creates an analysis and an action plan based on the client’s
requirements.
9.Delivering Reports:
10.Finally,
financial
reports are prepared more specifically, with certain
recommendations regarding the state’s financial position, these reports are given to
the client at the agreed time.
» Tasks Handled by a Remote Bookkeeper
A remote bookkeeper performs several important financial chores given below:
• Preparing Financial Statements:
Preparing and posting correct accounts of expenses and revenue, as well as creating statements
of financial position such as income statement, balance sheet and cash flow statements.
• Reconciling Accounts:
A remote bookkeeper makes sure that all accounting records match the current bank statements
and all other supporting documents that may be viewed to support the result obtained.
•
Invoice Processing:
A virtual bookkeeper handles the entire process, from creating purchase orders for vendors to
processing their invoices, ensuring both tasks are managed correctly.
• Accounts Payable Management:
Remote bookkeeping services handle vendor management efficiently, from reconciling balances
and paying bills to addressing vendor queries or disputes.
• Creating Invoices:
Issuing invoices to clients or customers, involving sending invoices for products or services sold or
for work done.
• Accounts Receivable:
Remote bookkeeping services take care of everything, from managing invoice acknowledgments
and following up on overdue payments to maintaining clear communication with customers.
• Accounts Receivable:
Remote bookkeeping services
take care of everything,
from managing
invoice
acknowledgments and
following up on overdue payments
to maintaining clear
communication with customers.
• Bank Reconciliation:
Checking whether all the records in your business bank account correspond with the
financial transactions made.
• Payroll Processing:
Managing employee remuneration by paying employees as and when due and in the right
amount.
• Financial Recordkeeping:
Managing and keeping all business financial records in a systematic order.
• Balance Sheet Maintenance:
Ensuring the balance sheet contains correct data to represent the company’s financial
situation.
• Profit & Loss Reporting:
Ensuring the profit and loss for the business is accounted for and reported correctly
Remote Bookkeeper

https://www.whizconsulting.net/us/blog/why-businesses-should-adopt-xero-accounting/


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https://www.whizconsulting.net/us/freshbooks-accounting-services/


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» Software Used by Remote Bookkeepers
Remote bookkeepers use different software because their work requires them to consider the most
effective approach when performing their duties. Here are some of the most popular tools used by
remote bookkeeping services:
1. Xero:
Xero Accounting Software
is simple and effective for small and medium enterprises. Xero
focuses on cloud-based accounting solutions that are useful for bank feeds and simple invoicing for
a remote bookkeeper.
2. QuickBooks:
Most outsourced accounting and bookkeeping firms are familiar with QuickBooks as it is user-
friendly and suitable for small businesses and anyone whose book is kept remotely for Payroll and
other expenses.
3. Zoho:
Most suitable for small and mid-sized businesses, Zoho Books simplifies invoicing and expense
tracking and is suitable for a remote bookkeeper.
4. FreshBooks:
FreshBooks is designed for independent workers and small entrepreneurs and is exceptional for
invoicing and project control.
5. NetSuite:
When a remote bookkeeper uses NetSuite for larger enterprises, he easily tackles complicated
accounting tasks such as financial planning and inventory management.

https://www.whizconsulting.net/us/blog/5-tips-you-should-know-for-choosing-the-best-accounting-software/

» Steps to Set Up Remote Bookkeeping for Your Business
• Assess Your Business Needs:
Start by determining what specific needs your business entails regarding bookkeeping services. Are you looking for
routine services such as Payroll and issuing invoices or additional services such as preparing for taxes and balance
sheets? This will assist you in determining the specific tasks to be assigned to the remote bookkeeper.
• Choose the Right Accounting Software:
Choose accounting software on which you and the online bookkeeper can work on easily. Some of the top cloud
accounting software that are frequently used by small businesses are Xero, QuickBooks, Zoho Books, and
NetSuite, which can give you real-time data in terms of your financial status.
• Hire Remote Bookkeeper:
Are you looking for a reputable remote bookkeeping services provider with expertise in your business? With a
reputable firm, you will be provided with a dedicated remote bookkeeper even if you have fewer transactions. They
should have previously worked on your preferred software and managed comparable business requirements.
•
Implement a Secure Data Exchange:
You need to make sure that the process for sharing financial documents is secure. As for data transfer between the
parties, it is safe to share files using encrypted services such as Google Drive, Dropbox, or any features offered by
the accounting software.
• Establish Communication Protocols:
Agree and establish appropriate check-ins, status and progress updates, and reporting frequency through Zoom,
Microsoft Team, or Email. This helps your remote bookkeeper remain in touch with your financial objectives.
• Monitor and Review Regularly:
Check your financial reports frequently and check whether your bookkeeping function is properly organized. Your
outsourced bookkeeping firm must consistently report cash flow, financial reports expenses, and other important
business information.

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» Best Practices for a Remote Accounting and Bookkeeping Firm
Here are some of the best practices to follow:
• Use the Right Software:
A remote bookkeeper needs the right equipment to perform the financial jobs well. Software
such as Xero, QuickBooks, Zoho, and others allow for creating records, tracking expenses,
and preparing reports. These tools also enable remote access, assisting the virtual
bookkeeper.
• Create a Clear Workflow:
The clients describe the accounting and bookkeeping activities that need to be performed
and what are the deliverables they expect from the bookkeeper. For a remote bookkeeper,
this entails proper handling of invoices, payments, Payroll, reconciliations, reporting and
taxes, among others.
• Maintain Secure Communication:
Slack or MS Teams make it easier for the team and clients since they are informed of any
progress. Communication is an essential aspect when working on a project, especially when
it comes to remote bookkeeping.
• Backup Data Regularly:
Every online bookkeeping company providing remote bookkeeping services must be extra
cautious regarding data security because they must back up all important files continuously.
This prevents the system’s loss of information and data and allows for business continuation
in case of other technical problems.
Thank You