Virtual accounting refers to the ability of your finance and accounting teams to access the technology they need online to complete all their tasks and activities. This new way of working is more flexible and efficient.
It is also flexible and long-lasting, unlike traditional manual processes that used to limit accounting teams to five days per week. Virtual accounting can reduce travel costs and commute time and increase productivity with fewer interruptions.
Best Virtual Bookkeeping Services for 2022
Bookkeeper360
Bookkeeper360 provides a complete-service accounting platform for business owners. The pricing depends on the monthly expenses of your business and whether an accrual or cash accounting is used.
The Bookkeeper360 platform can be customized with many add-ons and can handle most back-office tasks. Bookkeeper360 is the only provider that offers Payroll and HR services (other providers might offer this service but outsource it to other companies).
Bookkeeper360 Features
1. You have the option to choose between QuickBooks and Xero software.
2. Bookkeeper360 is compatible with Shopify and Expensify making it a great option for businesses selling products or services online.
3. This service performs monthly reconciliations of bank statements.
4. An add-on service could include an HR department.
5. Contact customer service via email, phone, or online chat.
6. All employees are based in the USA.
FinancePal
FinancePal provides a range of fully customizable options for small businesses, such as transaction recording, income statement preparation, and balance sheet preparation.
FinancePal offers dedicated bookkeepers, CPAs, and tax specialists to help your business.
FinancePal also offers many services. FinancePal adjusts the pricing to its clients based on the number of transactions performed each month and the industry served. No two plans are alike.
FinancePal Features
1. Team-based in the USA
2. Recommendations
3. Projections for the business
4. Access to transaction recording
5. Preparation of income and balance sheets
6. Tax services for small businesses
7. Payroll solutions
8. Mobile app integrated
9. Data storage centralized
10. Monthly or annual payment plans
1-800Accountant
1-800Accountant offers a complete digital solution to accounting processes, making it ideal for both small and large businesses. The company combines local financial expertise with a cloud-based platform to help business owners save time and maximize tax savings.
1-800Accountant is a cost-effective solution for small and new businesses that want to reduce the administrative burden associated with accounting. They have industry-leading expertise. They make it easy for you to add payroll, bookkeeping and tax preparation services as your business grows.
1-800Accountant Features
1. Bookkeeping services start at $153 per Month
2. Accounting professionals available 24/7 for support
3. CPAs are available in all 50 states to advise you on the best practices.
4. On average, staff have more than 17 years of experience
5. Flat, annual fees are paid with no transaction limitations.
6. Mobile application integrated
7. Formation of entities
8. Payroll services
9. Tax preparation, review, and filing.
What you can expect from a Virtual Bookkeeping Service
The mix and depth of virtual bookkeeping services are different.
Bookkeeping software is used by virtual bookkeepers to manage the financial activities of your company, including payments received and expenses incurred. The majority of basic catchup bookkeeping services will reconcile your accounts monthly, and send you financial reports. Some services even offer payroll or HR.
You should focus on the services your business requires and can afford. Virtual bookkeeping services often offer additional services that allow you to upgrade easily if you require more help than basic bookkeeping.