Wednesday, 17 Aug 2022
Bookkeeping has come a long way since its data entry days. It has become a highly diversified role that has been enhanced over the years to accommodate financial management, cash flow problems, budgeting, tax planning, etc.
Businesses in Melbourne cannot function without their advice on managing expenditure, investments, debts and savings. They are a prerequisite for every big and small entity that intends to grow.
With advancements in technology, bookkeeping responsibilities have become less burdensome and fast. They can use accounting software to automate most of their tasks and use their spare time to analyse the enormous financial data and focus on business development.
These tools allow real-time data access and can be used from anywhere. Thus, remote working has become a possibility even for in-house expert bookkeeper Melbourne. Although the workforce is back in offices, many business owners have become comfortable with remote working and want their professionals to enjoy a flexible working schedule.
The COVID-19 pandemic has helped in making this transition a reality. However, many sceptics question whether effective bookkeeping can be done remotely. Let us answer this question with a detailed explanation below.
Remote bookkeeping has been prevalent in the industry even before the pandemic forced workers to move their workstations into their homes. Most bookkeeping companies provide their services remotely and their professionals work from their own office.
It is known as outsourcing the task to another firm. Some small businesses in Melbourne also hire workers who work remotely because it helps to reduce the cost of hiring a bookkeeper on the payroll. Thus, the task can be effectively performed away from the business without any hassles.
The online tools available these days have given birth to virtual bookkeeping that allows the business owner to connect with the professional at any time of the day. They can chat, video call, send emails, share files, and access the same data through the accounting software to be on the same page.
The best accounting software in Melbourne allows the access and sharing of data through mobile apps. It makes the process fast and effortless as the bookkeeper and the senior management can upload and download files whenever needed.
The online activity is secure and safeguarded, and only authorised users can leverage it to maintain the confidentiality of vital business information. The remote working professionals have everything they need on their computers with the help of accounting software, access to online banking transactions and business credit card details.
They accumulate and assess all the financial information to generate financial reports, create invoices, reconcile bank accounts, file taxes, manage payroll and inventory and do much more.
There are a variety of benefits of remote bookkeeping that cannot be achieved with in-house professionals. Let us look at them.
A virtual bookkeeper helps with cost-cutting measures employed by the business in Melbourne. A remote working professional does not use the office premises and supplies. They are not entitled to other employee benefits that are given to in-house workers. They bill the business for the time taken to complete their responsibilities.
At times, businesses in Melbourne are unable to find an expert bookkeeper who has experience in their domain and must settle with someone inferior. However, with remote bookkeeping, you can hire a professional from any part of the country. You can even outsource the job to someone in another continent because they do not have to be physically present in the office.
When you hire a professional for your small business, you may not be able to provide them with state-of-the-art tools because of budget constraints and training limitations. However, bookkeeping companies in Melbourne have access to the latest and best cloud-based accounting software and online tools that make remote working a breeze. It ensures that your data is updated in real-time and is error-free.
The remote worker in Melbourne can be asked to choose their work hours instead of following the office schedule. It allows them to complete the assigned tasks on time without any delay. You can schedule meetings and video conferences depending on the availability of the management and the bookkeeper. It avoids any wastage of valuable time for both parties.
In-house professionals are aware of the ups and downs of the business and are emotionally connected with the company and its people. It may become challenging for them to refute the arguments of the business owner because of the camaraderie, and they may not provide them with unbiased and realistic financial advice. Thus, hiring remote workers in Melbourne helps to get balanced and professional advice.
Working remotely saves a lot of time for the professional, which is wasted on travelling to the office and socialising with colleagues. Virtual bookkeepers are dedicated to their tasks and must perform to get paid. Thus, they put their best foot forward and offer more value with higher efficiency.
With the help of the required IT tools, bookkeeping can be managed effectively from a remote location. The benefits mentioned above will help you decide whether you need an in-house worker or a virtual one.
