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Financial Virtual Assistants Help With Bookkeeping and Financial Reporting

Bookkeeping and Financial Reporting with Financial VAS

What is a Financial Virtual Assistant?

First of all, a financial virtual assistant is not an accountant. If you are looking for someone to submit your accounts then you really need to work with a qualified CPA in the US. Similarly, a financial virtual assistant is not going to be able to offer financial advice.

In other words, a financial virtual assistant is not a qualified financial expert.

A financial VA is, however, someone who can help you and your business in many financial areas. They can often act as a support person for accountants, investment managers, financial advisers etc. as they do have financial knowledge, as well as being tech-savvy and having a very high level of English.

In terms of their exact profile, they may be a qualified accountant (but with a qualification from another country) or have studied finance at university. They are going to have experience in the financial field and ready to help you get more done!

Which areas of bookkeeping and accounting can a Financial VA help with?

If you need assistance taking care of your financial affairs, a Financial VA is well worth considering. There is a whole catalogue of tasks they can take off your hands and transfer into their safe hands. We have financial VAs that specialize in bookkeeping and related services. They are known for their attention to detail and recording of all financial matters and are good with numbers.

These are just some of the tasks that a financial VA can help you with:

  • Processing invoices
  • Financial analysis and reporting
  • Payroll processing
  • Tracking expenses
  • Account reconciliation
  • Helping with end-of-year reports
  • Maintaining financial data
  • Credit control
  • Preparing P&L and balance sheets
  • Chasing outstanding invoices

financial virtual assistant

Why Choose a financial VA over hiring in-house?

There are a fair few reasons why entrepreneurs and business owners are opting to hire a financial VA to assist with their financial tasks and bookkeeping rather than hiring someone in-house. The first is cost – the VA will work for you remotely. This means if you’re limited on office space, no extra space is required and most of the time they will have their own equipment ready to go. They will simply need access or accounts set up for your respective accounting packages or financial software.

A VA can also scale up and down according to your business’s needs. During busy periods, they can scale up to provide more assistance and then revert back to the standard run-of-the-mill bookkeeping tasks at any other time. They can also save you time, as most of the bookkeeping processes, as you know, are very time-consuming. And as a business owner, if you can free up time to focus on other areas of your business while, at the same time, leaving these tasks in capable hands, then that only serves to help you grow your business.

How to Onboard Your Financial Virtual Assistant

If you’ve decided to hire a financial VA to help with your bookkeeping services, you want to start getting your onboarding process ready. It’s vital that they understand how your finances work, what software packages you work with, who you typically invoice, what expenses you usually accumulate and where they are stored. They need to be informed about everything they need to do their job. You will always want to make them feel welcome, too. If there are other colleagues in your business, make sure you introduce the VA. After all, the financial VA, yourself, and your colleagues are all now working towards the common goal of the business, so everyone should feel equally involved.

financial virtual assistant

The benefits of using a Financial VA for your bookkeeping

Well, firstly, as we have already mentioned, if you employ the services of a VA as your bookkeeper rather than hiring someone in-house, you are saving yourself (and your business) a considerable amount of money. Studies have found that, on average, if you employ the services of a virtual assistant, you can reduce your operating costs by up to 78%. You also then not only save yourself money but time. The time that you typically spend carrying out the tasks you’re going to outsource to your VA can be devoted to other areas of your business or even so that you can have a bit more spare time to spend with your family if you’re finding that you’re overworking yourself.

How to Get The Most from Your Financial Virtual Assistant

Once you have your financial VA on board and they are fully in the loop about what you expect from them, you then need to advise them of what you see in the future for the business—what clients, for example, tend to pay late. What big dates are coming up in the year? For example, if there are a busy few months towards the start of the year where more time and hours may be required of them, make sure you let them know in advance. At the same time, hold regular meetings with your VA to ensure that they know where you are up to and any changes to the business that have been made or are upcoming. And always drop in to make sure they’re happy in their position and being part of your business overall. A small chat here and there is vastly underrated for helping someone feel appreciated and part of your organization.

Summing it all up

There are a range of VAs that specialize in finance, including bookkeeping and other accounting services. The trend over the past few years has been to choose VAs to help you with these tasks rather than hiring in-house. You also save significant recruitment and equipment costs by outsourcing. You can get started by asking us about the financial tasks you need help with today.


  • Looking to scale your business more quickly?
  • Are you overloaded with administrative tasks?
  • Would you like to free up more time for business strategy?

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