How to Set Up a Secure Remote Bookkeeping Environment?

The COVID-19 pandemic brought the world into a new work era, facilitating the telecommuting that many industries turned to for certain tasks. In the process, they found that everything from HR to accounting could be taken online. Remote and hybrid work models are here to stay as the world reopens for business. Technology has made it a new wage, and some industries, such as bookkeeping, are seeing significant changes professionally. Leveraging remote bookkeeping opportunity: 94% of accountants using cloud accounting services. In this article, we will cover the nuts and bolts of starting an online/bookkeeping company, riding the demand for virtual financial management solutions.

How Does Remote Bookkeeping Work?

Remote bookkeeping is the process of accessing an organization’s financial reports and documents online through bookkeeping and accounting software to make daily data entries and reports, as well as pay bills and invoices remotely.

A cloud-based system will be utilized by a remote bookkeeper to monitor your financial data using online applications. They will guarantee that your information is current and provide you with precise financial reports to assist you in making critical decisions.

By employing a virtual bookkeeper, you can concentrate on your business while they handle all finance-related responsibilities. It is highly advantageous for enterprises, and it can be executed by anyone, regardless of their location. 

This is because you can get more flexibility and also save money by having a full system for your accounting needs only. Also, it is cheaper than hiring a bookkeeper in-house.

Companies that conduct maintenance of a cloud-based accounting app have been proven to have a 15% year-over-year growth in revenue as compared to their competitive companies. It is also one of the reasons remote bookkeeping has been sought after over the last couple of years.

How Beneficial Is Remote Bookkeeping?

Leaving statistics and other data aside, the biggest question that pops right up in our heads is—Does remote bookkeeping work? More people work from home, and many technological advancements like this one are now digital.

Back then, if you had multiple pages of financial reports to balance, you needed to use the documents and calculate them on your own. This was a gruelling process. Bookkeeping processes can now be automated thanks to technology, which thus saves the manual work time.

More flexible than in-house bookkeeping. Allows you to do what matters most. It also guarantees that there is no scope for errors, as automation leaves almost no room for such blunders with data.

This ensures transparency with clients and stores all private data on a secure portal. Also, you do not have to worry that needed data stored on the cloud could be lost in natural or unpredicted circumstances.

Launching a Bookkeeping Company: The Perfect Configuration for Remote Work

Being a Bookkeeper One of the appeals of working as a bookkeeper is that it can be done from anywhere as long as you have a computer and an online connection. Image for post This also means that you will be able to start your accounting business and offer services to clients worldwide. There is a downside to starting your own remote bookkeeping business. There are many factors you must weigh, from legal and financial to technical and marketing considerations. In the series, we are discussing some of the steps and tips you need to follow to set up a successful remote bookkeeping business.

A few of the steps and tips include;

• Niche & Target Market You cannot keep a book for the entire world. You must figure out the type of clients you want to work with and what kind of work you are going to do. This could be industry-specific (e.g., e-commerce, healthcare, or real estate), type of bookkeeping (e.g., payroll, tax, audit), or even software (e.g., QuickBooks, Xero, FreshBooks). When you select a niche and target market, you avoid competition and gain clients who appreciate your knowledge.
• Create your business entity and apply for necessary business licenses and permits. You may need to get the word out depending on where you live and in which city, state, or country from your website that has a business registration, license, and tax ID number. Also, choose the form of business organization, that is, are you a sole proprietor, partnership, LLC, or corporation? There are pros and cons to each structure, so you will need to speak with a lawyer or an accountant to get assembly the proper option for your unique situation. You will also have to open a company bank account and tend to your finances, keeping them apart.
• Organize your home workspace and equipment. You must designate an area within your home to work without disturbances or interruptions. You must have a reliable internet connection and a decent computer. mobile, printer, scanner, etc. and place an order for office supplies. Along with that, you will need your accounting software, spreadsheet software, cloud storage, encryption, and backup software. You must also provide fluent and confidential channels for communication with clients, be it email, phone, video conferencing, or chat.
• Build Your Website & Portfolio Your website is the virtual storefront that you can leverage to display your portfolio, services, and happy customer stories. You should have a good-looking website and an easy-to-go-through portal where you provide information on your product. You must also showcase your work so far in a portfolio where you can demonstrate your skills and accomplishments. Don’t forget to bring some of your work samples, case studies, or testimonials of your clients. You also need to have a straightforward call to action, where you ask your leads for the contact form or consultation.
• Advertise your business and acquire clients. You have to market your business and let prospects know that you are in business. Through word-of-mouth, referrals, networking, social media (especially LinkedIn), blogging, email marketing campaigns (newsletter), online directories, or advertising. It is essential to be able to articulate a distinct value proposition—what services do you offer that assist your clients in resolving their issues and achieving their objectives? A pricing strategy is necessary to determine our fee, which will be determined by the balance of costs, value, and marketplace compatibility. You will also require a contract that delineates the scope of your work and the conditions under which it is provided.