Accounting is one of the vital departments to run business operations smoothly. Therefore, the trend of outsourcing accounting services for small business has been booming a lot. The virtual accounting services can bring quality and efficiency in the accounting operations under the limited price range. Thus, the concept of virtual accountants has been introduced to offer effective online accounting services to numerous business organizations.
Who is a Virtual Accountant?
A virtual accountant is a qualified person who provides digital accounting services instead of traditional physical accounting. The accountant and client both are not physically present in an office to discuss work. Sometimes, both are located in two different time zones. But, using innovative accounting software and communication tools, online accounting services are provided.
The benefit of hiring virtual accountants is that you don’t have to pay a fixed monthly salary to them. One agreed lump sum amount is paid to them for a predetermined work. Moreover, you don’t have to provide virtual accountants with anything besides the agreed amount after the completion of work. This will free up lots of accounting professionals’ time as they can delegate their repetitive or urgent tasks to fully competent virtual accountants.
Why Hire Virtual Accountants?
At CapActix, we always recommend to small businesses to hire a virtual accountant to effectively perform their accounting activities because –
- It is cost-effective to hire a virtual accountant as compared to a full-time accountant.
- Large accounting companies can delegate their work to virtual accountants during rush seasons like tax preparation season.
- Virtual accountants are fully trained with vast experience, so no need to provide them any further training.
- When specially trained accountants are required in tax or auditing related work, hiring a highly experienced virtual accountant can be an easy solution.
Characteristics of a Good Virtual Accountants
If you are looking forward to hiring a virtual accountant for your firm, you have to make sure that your candidate has all the characteristics of an excellent virtual accountant. Apart from the academic degree in accounting, business management, or other related fields, a virtual accountant needs to possess a couple of vital traits also.
Trait 1. Tech-Savvy Person
One of the primary traits of a virtual accountant is to be tech-savvy. The virtual accountant needs to be comfortable with technology and various accounting tools. The person should be well trained with technical skills and must have the knowledge to implement numerous accounting operations using technology.
In the virtual accounting services, plenty of different accounting software are used to deliver services such as QuickBooks, Zoho Books, Tally ERP, Marg ERP etc. Apart from the necessary accounting tools, much other software to communicate, share work, and manage remote workflow are used. So, a virtual accountant needs to be familiar with all the latest accounting and other helping technologies.
Trait 2. Adapt Change in the Technology
Technology knowledge is essential, but it is also necessary to be a flexible person so that you can adopt changes in technology. That’s because technology is always evolving and improving. Every other day a new version or update of the previous software is introduced in the market. Thus, a virtual accountant must adopt all the sweeping technology changes so that your accounting services won’t get influenced in any manner. Flexibility and zeal to take new technological changes is a trait of an excellent virtual accountant.
Trait 3. Team Player
An excellent virtual accountant has to be a team player. He or she has to coordinate with different departments, follow-ups, and share the necessary course of action. Thus, it is essential for a virtual accountant to be a team player. If the accountant won’t share his progress promptly or coordinate with different financial departments, it will influence the quality of the work. Moreover, the communication gap can lead to numerous misunderstandings and slow down the workflow drastically.
Trait 4. Quick Thinker
During unfortunate situations, a virtual accountant needs to think quickly and analytically to pull the company out of the crisis. So, the accountant should have the right analytical data and decision-making skills to minimize the extent of the loss. Moreover, accountants have to do all this very quickly so that the amount of damage can be reduced. Thus, if you are looking for a competent virtual accountant for your team, ensure that he or she can think quickly and provide the correct solutions.
Trait 5. Flexible Personal
A virtual accountant might not be working inside your office, but it is essential for him to understand your business culture. If accountants aren’t familiar with your business culture, they can’t provide adequate services to your client. To provide the best quality services, a virtual accountant must have to understand the culture of the organization.
Trait 6. Professional Attitude
For every professional, it is essential to possess the right professional attitude. The virtual accountant should deliver the work on time without any delays. He should instantly communicate in case of a delay. One need maintains professional etiquette while performing accounting activities. Thus, a timely delivery, proper communication, and professionalism should be practiced by a virtual accountant.
Trait 7. Accept Constructive Criticism
A virtual accountant should always be ready to accept healthy criticism. He or she should not get annoyed or disrespectful to clients if their work is questioned by them. They should calmly convey their point to the clients, and virtual accountants should gracefully accept that if they are wrong anywhere. Thus, an excellent virtual accountant never rejects a reasonable criticism and even take it as a challenge to improve himself.
A Good Virtual Accountant
No one is perfect, but it doesn’t mean that you should not try to be an ideal person. Similarly, you can’t become an excellent virtual accountant overnight. You have to gain technological, academic, and professional traits to become a perfect virtual accountant. It is a continuous process to be the best, so keep on growing and evolving.
CapActix has employed some of the proficient virtual accountants to provide outsourcing accounting services for small businesses, so just contact them on email – [email protected]. or can call on +201-778-0509 and get the best accounting services.