Outsourced Accounting Services

Why Virtual Bookkeeping?

Advantages of a Virtual Bookkeeper over a Full-Time or Part Time Bookkeeper -

Marshall, Jones & Company Online Bookkeeping

Better service at half the cost

The formula is simple. Full-time employees are pricey and not always the best solution for a growing business. Part-time employees, while they may command less of a compensation package, still come with their share of constraints, for instance, they require space and accommodations when they visit the office.

Here’s the comparison:

Full-Time Bookkeeper

A full time bookkeeper commands a full-time salary and full benefits. According to Payscale.com, salary alone could range between $37K and $64K, depending on the experience level of the bookkeeper, type of business and part of the country you are in. Add on the employer’s taxes, health and other benefits, which typically add another 30% to the annual salary base and ouch—you’ve expanded your bookkeeping budget from $48K to $83K per year. And remember to factor in the money to pay for temporary help when your bookkeeper takes vacation.

Part-Time Bookkeeper

If the full-time bookkeeper gave you sticker-shock, you may want to consider hiring a part-time bookkeeper. Paid as a consultant, the 1099-worker will come and go at will—those are the directives for your part-time consultant. That means be ready to free up space and a workstation whenever he or she is in “work-mode.”

The annual compensation for a part-time bookkeeper ranges from $31K to $58K, with 41% of companies providing health benefits (which, once again would raise the salaries considerably). And when the bookkeeper is not in your office, chances are he is elsewhere, working on another client—unavailable to you. You have a question that must be answered now? You need to view a financial statement? Time is money, but with a part-time bookkeeper, you may just have to bide your time until the bookkeeper is back on your dime.

What are the advantages of having a virtual bookkeeper?

Imagine a bookkeeper that takes up no space, is like a full-time employee, but is paid like a contracted employee—at the lower end of the part-time pay scale. This bookkeeper commands no benefits, insurance or employer’s taxes withheld, and is available even in the off-hours to help minister your account. Yes, you’ve found the Virtual Solution – says one client, “Thanks to Virtual Bookkeeping, my company easily saves $30,000 in bookkeeping fees each year.” Imagine having an extra $30k in your account!

The system enables clients to log in anytime, from anywhere. We also offer a Disaster Recovery System which provides backup “just in case” and a new Document Retrieval System. This allows companies to create electronic files, and a “Green” system that eliminates the need for bulky file cabinets, and costly filing systems—all the bookkeeping space and supply expenditures that cost a company money. Our fee is based on the size of the company, the services required and the amount of virtual space and mindshare necessary to maintain the account—a far cry from employing even a part-time bookkeeper.

Sounds great, but will it work for me?

Our Online Bookkeeping is the perfect solution for:

Companies whose bookkeeper has left – When there is a shift in personnel, often the business owners don’t know what they are getting. We’ve heard horror stories of accountants who are “whiz-kids” with numbers, but don’t know how to turn on a computer. There have been many businesses ‘saved’ after their bookkeeper left and everything was a mess just by picking up the phone and calling us.

Companies with multiple locations – An example of this would be a men’s clothing stores with locations in New York and Los Angeles, as well as in Tokyo and Osaka, features groundbreaking designer fashions and the most up-to-date bookkeeping system available—Virtual Bookkeeping—to manage it’s bi-coastal bill payments. Says the Office Manager, “Paying vendors is easy—and we can access the system from both U.S. stores. After I reconcile the books, the firm generates financial statements that include both location’s information. It was easy to train our staff to use the Quickbooks-based system.”

Companies Interested in Cost-Savings by Reducing Full Time Employees – A Labor & Employment firm. always maintained an in-house clerical person to handle bookkeeping matters within the firm. Around four years ago, they began using Virtual Bookkeeper. The system freed up the company’s in-house staffer, who now helps out in the reception area, doing paralegal work and other clerical tasks.

Companies That Need 24/7 Access to Their Finances – Client engagements frequently take the CEO of a boutique consulting firm that provides executive coaching, leadership workshops and creates management programs for senior leaders of Fortune 500 companies. Checking her company’s financial situation is vital to her decision-making, and the Virtual Bookkeeper provided the perfect solution. No matter where she happens to be—irregardless of the time zone, the Bookkeeping Online system keeps her in the loop and aware of all financial transactions.

Executives Who Have No Time to Balance the Books – There comes a time in any growing company, when certain responsibilities have to be relinquished in order to focus on sales, marketing and other key areas that keep a business thriving. When a gentleman opened a vision center franchise location in 1991, he had always outsourced his bookkeeping, although he had part-timers coming in for a while. Then a sales representative recommended Virtual Bookkeeping. The owner happily handed over all his bookkeeping and began using Virtual Bookkeeping. This freed him up to manage his eye doctors, technicians and sales staff. The owner says, the staff is great – and there’s always someone available to help him.

Call us for a free evaluation of how this system can help your company.