8 Accounting Tasks a VA Can Do for Your Business
Accounting can be one of the most time-consuming areas of every business, that’s why so many companies prefer to outsource it to VAs.
Let’s say that you started your business and fortunately, you’re starting to grow quickly. Suddenly, you start to feel overwhelmed by the number of basic tasks needed to keep your business afloat.
This is the turning point where most people start delegating tasks either by hiring new staff to work in the office or by deciding to hire people who work in a virtual mode which is usually the best investment you can make, especially when you are starting to grow and you need to take into account every penny.
Among the many tasks you can outsource, there are accounting tasks that can sometimes be a big headache.
Thinking about tax season preparation, analyzing business finances, book reconciliation or cash flow can sometimes be the most stressful part of running a business and it can even be an impediment to you being able to serve new customers properly, which ultimately leads to a waste of time and, of course, money.
Virtual assistants are here to help you survive the tasks that may seem more tedious to you while for them it is something they enjoy and are highly efficient at. This is why many companies are relying more than ever on highly-trained virtual assistants to perform all accounting tasks and the demand for them is increasing every year.
What tasks can a virtual assistant support your business with?
1. Invoice payment
All companies have overhead and basic expenses to maintain their operation, be it paying the electricity bill of the small office of the company or space from which you connect to your virtual team. It goes without saying that keeping the bills in check is an important part of the stability of your business and something your VA can easily do for you.
2. Payroll management
Even if you have time tracking tools that provide reports, you need to verify that the information received corresponds to the facts. Depending on the number of people working with you, this can become very tedious. Again, this is something that can be done by your VA without any inconvenience.
3. Checking the accuracy of others’ calculations
Similar to the above, when needing to review reports of technological tools, you also need to review the work of your human team and that is not free of errors either. Your virtual assistant can take care of reviewing each report in detail to make sure there are no discrepancies.
4. Reconciling credit cards and bank statements
We know how important it is to keep your company’s financial records and bank accounts up to date and properly reconciled. Your virtual assistant can verify all the details so that you avoid mistakes and have your accounts completely clear.
5. Processing accounts payable
Yes, we have already discussed the payment of invoices, but we had not mentioned the suppliers. These bills can add up quickly because, let’s be honest, there are too many details to take into account in your business and it’s hard to take care of everything yourself. With a virtual assistant, you make sure that your accounts with suppliers are up to date and that your reputation remains intact.
6. Processing accounts receivable
Almost as important as maintaining a good reputation of seriousness and responsibility with your suppliers, your customers must feel the same way about you. After all, you are running a business, so accounts must be kept clear. Sometimes, a customer might forget to make a payment on time or simply had some complications. The best way to avoid these situations, besides having responsible customers, is to have a virtual assistant who can organize the dates and create alerts so that reminders or notifications can be made to keep the collections up to date.
7. Reconciling supplier and customer statements
Obviously, balancing money coming in and going out is an essential part of maintaining a proper organization of the company’s finances, but it is usually an activity that takes a lot of time and attention to detail. This too can be outsourced to a virtual assistant trained to do the job.
8. Numerical data recording
One of the most time-consuming tasks that can exist is data entry. Likewise, it is an important part of maintaining good accounting habits in the company. A virtual assistant can be in charge of entering all the numbers involved in your company and build more friendly databases that you can use for further studies.
As you can see, all these tasks are essential in the management of your company and are part of the preparation of our virtual assistants.
Would you like a virtual assistant who also handles other tasks for your company?
We are here for you!
Book a strategic call with our director Claudia to discuss your specific needs!