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https://www.whizconsulting.net/au/blog/remote-bookkeeper/

Why You Should Hire a Remote
Bookkeeper?
The number of companies hiring a remote bookkeeper is rapidly increasing, and for good
reasons. Online bookkeeping services Australia allows companies to efficiently manage
their finances without the cost of setting up an in-house staff. These services help
businesses strike a perfect balance between accurate financial management and cost
efficiency. In this blog, we delve deeper into why you should consider outsourcing your
bookkeeping services.
» What is Remote Bookkeeping?
Remote bookkeeping services
involve managing a business’s
financial
records and
transactions from a remote location. An online bookkeeper leverages cloud-based software to
provide a wide range of bookkeeping online services. The remote professional takes care of
tasks such as data entry, invoice processing, and financial report preparation. It allows
companies to gain accurate financial data without needing an in-house bookkeeper.
The convenience and cost-efficiency of bookkeeping online services are the primary reasons
these solutions are becoming more apparent. They help companies save on rent and utilities,
recruit and train staff, and set up an in-house infrastructure. When experts handle the
finances, companies can focus better on their core operational areas and pave the way for
growth. Virtual bookkeeping services are especially important for small and medium-sized
businesses with limited resources.
» Remote Bookkeeping: The Process
Once you have hired a remote bookkeeper, here’s how the professional start their work
process:
•Data Collection
The first course of action for a bookkeeper is to collect relevant information. To ensure
expectations are met, you must provide the bookkeeper with clear expectations and
objectives. Additionally, it is the responsibility of the current team to share all relevant financial
information with the remote professional to get the work started.
•Data Processing
Once all the data is collected, the online bookkeeper analyzes it to gauge the flow of money
within the company. This process helps with further analysis and the necessary action plan.
•Delivery Reports
The last step is to generate financial reports for the clients. The bookkeeper ensures that all
transactions are accurately reported and makes recommendations to improve the company’s
financial position.

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» Tasks Handled by a Remote Bookkeeper
A remote bookkeeper is responsible for various tasks that include:
1. Maintaining Financial Records
The primary duty of a remote bookkeeper is to maintain financial records in a timely manner.
These tasks include:
• Recording financial transactions into the software
• Keeping the data updated and in compliance with relevant regulations
• Creating financial entries
• Sharing financial reports with clients to present the financial health of the company
2. Budgeting and Forecasting
By budgeting and forecasting, a virtual bookkeeper provides valuable insights that support
businesses in making the right decision. Additionally, these professionals help companies
equip themselves with the right financial resources to implement strategies and achieve goals.
3. Accounts Payable
A Remote bookkeeper automates bill payments and simplifies invoice processing to ensure
financial obligations are accurately recorded and tracked. This also helps maintain sustainable
relationships with suppliers and ensure smoother cash flow within the business.

https://www.whizconsulting.net/au/services/accounts-receivable-services/

4. Accounts Receivable
Handling accounts receivable also comes under a remote bookkeeper. Whether it is voice
recording or tracking and managing payments, these professionals ensure that all financial
transactions are executed promptly. Additionally, by maintaining the books accurately, they
help.
5. General Ledger
General ledger accounts are the cornerstone of the bookkeeping system. A bookkeeper online
is responsible for managing these accounts, including:
•Recording and maintaining financial transactions
•Accounts reconciliation
•Accurate categorization of expenses
•Recording credit card receipts

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https://www.whizconsulting.net/au/blog/accounting-automation-101/

» Software Used by Remote Bookkeeper
The right technology is the cornerstone of every reliable remote bookkeeping work. Here are
the top 5 software commonly used by online bookkeepers:
1.Quickbooks
Quickbooks is a popular cloud accounting bookkeeping software developed to simplify
bookkeeping online. The tool automates essential tasks such as bookkeeping, invoice
management, payroll, expense tracking, bank reconciliation, tax management, and invoice
management, Facilitating effective financial management.
2. Sage Accounting Software
Sage is another versatile software for a remote bookkeeper. It is designed with features such
as payroll processing, inventory management, financial management, payroll processing, and
seamless integration.
3. Zoho Books
Launched in 2011, Zoho Books is easy-to-use software for all bookkeeping services. It allows
businesses to record transactions, bill customers, automate workflow, track time, and adhere
to tax compliance in a central location. It has a suite of features to help businesses of all kinds
and scales.
4. Xero Bookkeeping Software
Xero is robust software designed to manage bookkeeping, cash flow, and finances.
It automates accounting tasks such as bank transaction reconciliation and invoice
reminders. Moreover, it provides smart data, valuable insights, and customizable reports.

https://www.whizconsulting.net/au/blog/basics-of-bookkeeping-process-and-how-you-can-improve-it/

» Challenges Faced in Setting up Remote Bookkeeping
While a remote bookkeeper could be an invaluable asset, there are some challenges in setting
up bookkeeping online that must be addressed to ensure efficiency, security, and reliability:
•Data Security
If a remote bookkeeper works from a different location than the company, data is likely to
come through various channels, devices, and connections. This creates significant security
concerns that must be addressed through the right measures.
•Barriers in Communication
Another concern when hiring a virtual bookkeeper is the communication barrier. A lack of a
proper communication system means information could be misinterpreted, resulting in financial
errors and potential losses.
•Technical Issues
The efficiency of a remote bookkeeper depends heavily on the technology the professional
uses. Software
incompatibility,
technical
glitches,
and
integration
issues hamper
the bookkeeping process.
•Time Zone Differences
Working in different time zones is another challenge when setting up remote bookkeeping
services. If you are not available to address clients’ concerns in a timely manner, this creates a
communication gap.
•Training and Onboarding
Every company operates differently, which is why training and onboarding are important parts
of hiring any worker. If the online bookkeeper is not trained to explain how things work, issues
could arise.
» Steps to Set Up Remote Bookkeeping for Your
Business
Ready to be a remote bookkeeper? Here are essential steps you should take care of while
setting up virtual bookkeeping services:
Step 1: Start with a Strong Business Plan
A well-defined business plan is the foundation of starting any business. Your business plan
should include:
• Business name and structure
• Target clients, competitors, and industry
• Strength, weaknesses, opportunities and threats
• Problems you aim to solve
• Cost-effectiveness of your services
• The available capital, projected cash flow, estimated expenses and gain
• Business growth plan
• Marketing strategy
Step 2: Get the Required Licenses and Permits
To start remote bookkeeping work, you must obtain the relevant permit and license.
Depending on the type, you must register your business with the state to get the required
identification. You must pay registration and license fees that vary depending on your location.
Step 3: Get the Right Resources
One of the biggest advantages of setting up a remote bookkeeping Australia is that you need
limited hardware. A few well-performing laptops and powerful software are all you need to kick-
start your business. Another key resource investment is a stable internet connection to ensure
undisrupted work. Other resources you may need include a monitor, webcam, and headsets.
Step 4: Set Pricing
How much are you going to charge for your services? Pricing is tricky, especially when you are
starting out in an already saturated market. Ensure you do thorough market research to
understand how your competitors are pricing their services. Additionally, multiple price
packages help attract businesses of all sizes and provide them with scalable options.
Step 5: Implement Data Security Measures
An increasing number of data breaches has made data security a primary concern for
companies worldwide. Ensure you implement stringent data security measures and follow
them with rigorous monitoring and tracking.
Step 6: Creative Marketing Strategy
How is your online presence? Are people able to reach out to you easily? This is where
marketing comes into play. Analyse who your target audience is, their locations, what problem
they are facing, and what solution you are offering. A clear and innovative marketing strategy
is crucial to attract an audience and sustain your business.

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https://www.whizconsulting.net/au/blog/does-your-business-need-a-bookkeeper/

» Best Practices for a Remote Accounting and
Bookkeeping Firm
After setting up your remote accounting and bookkeeping firm, the next important step is to
sustain it with the right practices. Here are some of the best practices that will help you do the
same:
•Invest in the Right Software
Remote bookkeeping Australia heavily depends on technology; reliable internet is just one
aspect. The right technology that aligns with your business needs is important to ensure
efficiency in your operations. Reliable software automates a lot of manual work, making the
process more accurate and effective. Additionally, invest in proper cloud storage to ensure all
your data is stored securely in one place and can be easily shared with clients.
•Proper Communication Systems
The need for a proper communication system cannot be overstated. Invest in the right
communication tools, such as Gmail, Slack, Microsoft Teams, and Zoom, to ensure clients
have an easy channel to reach you and your team. Along with the right tools, ensure
transparent and honest communication with clients to keep everyone on the same page and
organized.
•Create a Structured Workflow
A well-structured workflow is critical to define your process for clients and team members. The
former can gauge your work patterns and understand what is expected of them. Additionally,
set clear expectations of deliverables from your team to avoid any delays. It makes your
operations more systematic and easier for people to get on board.

https://www.whizconsulting.net/au/services/online-bookkeeping-services

» Benefits of Hiring a Remote Bookkeeper
The benefits of hiring an online bookkeeper are multi-faceted. Let’s discuss some of the key
advantages:
•Easy Access to Experts
Hiring a remote worker gives you easy access to a wealth of knowledge and expertise. An
online bookkeeper has experience in the field and stays updated with the latest developments
in the industry. Outsourcing bookkeeping allows you to leverage the expertise of seasoned
professionals without having to put heavy investment into training.
•Cost-Saving Decision
A skilled virtual bookkeeper can save you a lot of time and money. When experts manage
your online bookkeeping services Australia, you have time to focus on core operational
activities. Additionally, when you don’t have to set up an in-house workplace, it saves costs
related to infrastructure, salaries, benefits and other associated costs.
•Boost in Productivity
Virtual bookkeeper provides accurate and efficient bookkeeping services, helping you boost
productivity. You focus on business growth activity while experts manage your online
bookkeeping. This segregation of work helps improve efficiency within the business and
pave the way for economic growth.