https://www.whizconsulting.net/au/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
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

https://www.whizconsulting.net/au/


https://www.whizconsulting.net/au/services/invoice-processing-services/


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


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
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.
» 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.
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

https://www.whizconsulting.net/au/


https://www.whizconsulting.net/au/cloud-accounting-bookkeeping-software/


https://www.whizconsulting.net/au/sage-accounting-services/


https://www.whizconsulting.net/au/zohobooks-accounting-services/


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


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


https://www.whizconsulting.net/au/netsuite-accounting-services/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
• Accurate categorization of expenses
• Recording credit card receipts
» 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.
5. Oracle NetSuite
Oracle NetSuite is another robust software program designed to automate and streamline
bookkeeping and other financial functions. It records transactions, manages payables and
receivables, automates closing, offers quick access to financial data, and ensures regulatory
compliance.
» 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:

https://www.whizconsulting.net/au/


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


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


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
• 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.
• Tracking Productivity
Working in a remote system means you must be proactive with tracking and monitoring. How well
is the remote bookkeeper working? Is the deadline being met? How efficient is the process? Lack
of productivity tracking can delay the reporting and decision-making process.
• Compliance Issues
Bookkeeping and accounting compliances differ by location. Is the remote bookkeeper
experienced in working with jurisdictions? Failure to comply with relevant regulations could result
in legal complications.


https://www.whizconsulting.net/au/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
» 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

https://www.whizconsulting.net/au/


https://www.whizconsulting.net/au/


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


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
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.
» 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.
• Prioritise Security
Given the sensitive nature of financial data, implement robust security measures. This includes
using secure passwords, enabling two-factor authentication, and regularly updating software to
protect against vulnerabilities. Moreover, regular training sessions on cybersecurity best

https://www.whizconsulting.net/au/


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


https://www.whizconsulting.net/au/services/outsource-budgeting-services/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
practices should be conducted. Ensure your team is aware of phishing scams, data breaches,
and other potential threats to maintain a secure remote working environment.
» 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.
• Flexibility at its Best
Online bookkeepers allow you to scale the services up and down based on the requirements.
Outsourcing also allows businesses to work with clients from different locations and time zones.

» Frequently Asked Questions
Q. What does a remote bookkeeper do?
A virtual bookkeeper is responsible for various tasks to maintain the accuracy of the business’s
financial records. Some of the key responsibilities of online bookkeepers
include
recordkeeping, budgeting and forecasting, general ledger, accounts payable, accounts
receivable, reconciling reports, and financial reports.
Q. Are virtual bookkeepers in demand?

https://www.whizconsulting.net/au/


https://www.whizconsulting.net/au/virtual-accountant-services/


https://www.whizconsulting.net/au/pricing/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
The demand for a virtual accountant or bookkeeper is rapidly increasing due to their value.
Businesses prefer to hire an online bookkeeper because of their flexibility and cost-effectiveness.
Q. How much can you make as a virtual bookkeeper?
A virtual bookkeeper can start a business with minimal investment and can earn very well based
on experience and skill. The profitability of a bookkeeper online depends on experience, location,
clients, and many other factors.
Q. Can you work remotely as a bookkeeper?
Starting virtual bookkeeping services will allow you to expand your horizons. Offering online
bookkeeping services Australia can be highly lucrative if you have the right knowledge and skills.

Take Control of Your Finances Remotely
Explore Our Pricing Plans!
» Additional Tips for Remote Bookkeeping
• Track Time:
A time-tracking system helps you improve your time management. You can dedicate a certain
period for a particular project and monitor the time it actually took to complete it. This will help
you prioritize tasks and meet deadlines.
• Backup your Data:
Data in the cloud is vulnerable and must be protected actively. Creating backups of files helps
ensure important financial documents are never left behind, even in case of mishaps.

https://www.whizconsulting.net/au/


Address: Suite 1A, Level 2, 802 Pacific Highway, Gordon NSW 2072
Websites: https://www.whizconsulting.net/au/ Ph-no: +61-280-064-788
• Customer Experience:
Customer experience plays an important role in the growth of a remote business. Ensure to check
the reviews of a remote bookkeeper online to assess the experience of previous clients.












Thank You