By: Jennifer Brazer
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Fact Checked By: Brittany McMillen
Affordable Virtual Bookkeeping for Small Businesses
Managing financial records shouldn’t be a drain on your wallet or your time. But if you’re like most small business owners, juggling growth, operations, and bookkeeping can feel overwhelming. Hiring a full-time accountant might be out of reach financially, but leaving your finances in disarray isn’t an option either. Fortunately, affordable virtual bookkeeping solutions exist to relieve the burden, keep your records compliant, and help you reclaim hours for what truly matters—growing your business.
I’ve seen firsthand, as the founder of Complete Controller, how transformative virtual bookkeeping can be for businesses of any size. Let me share what I’ve learned over more than 15 years helping entrepreneurs optimize their financial processes.
What is Virtual Bookkeeping and How Does it Work?
What is virtual bookkeeping?
In simple terms, virtual bookkeeping means outsourcing your financial tasks—remotely. Your virtual bookkeeper functions as an off-site accountant, handling everything from invoices to payroll without ever stepping into your office. This setup eliminates the overhead costs of an in-house team while leveraging today’s cloud-based tools for efficiency.
As your virtual bookkeeper organizes your data, you’ll experience the relief of automated processes and real-time reporting. Whether it’s keeping your small business audit-ready or ensuring your cash flow stays healthy, these remote experts are your financial backbone—even at a fraction of the cost of traditional solutions.
How does it work?
With virtual bookkeeping, secure, cloud-based platforms like QuickBooks and Xero are the nucleus of operations. After syncing your business’s bank accounts and financial processes with such software, your virtual bookkeeper takes the reins.
By automating tasks like categorizing expenses or generating monthly reports, these services let you check on your records any time, from any device. That’s the beauty of remote bookkeeping—your data is not only secure, but it’s also at your fingertips when you need it.
If that sounds like a relief compared to sifting through spreadsheets, it is. Partnering with a virtual bookkeeper ensures that your finances stay clean and compliant while freeing you to focus on growing your business.
Affordable Virtual Bookkeeping Options
Small businesses, startups, and freelancers all have unique financial needs. Luckily, there’s no shortage of budget-friendly solutions, so you can find the right fit no matter your stage of growth or complexity.
Cloud-based accounting software
For the DIY-inclined business owner, cloud-based accounting tools offer an excellent way to manage bookkeeping with guidance from robust platforms.
- QuickBooks Online: Plans start as low as $30/month and can scale with your company’s growth.
- Xero: With pricing starting at $13/month, this solution blends flexibility with powerful tools designed for startups.
- Wave: A top choice for budget-conscious owners, as it’s entirely free at the basic level.
These platforms have evolved dramatically. Since the 1990s, cloud-based accounting software has revolutionized how we manage finances. Companies like QuickBooks and Xero continue to innovate, making these tools increasingly accessible and secure. Learn more about their cloud-based accounting software security.
Virtual bookkeeping services
Some of us prefer a hands-off approach. That’s where virtual bookkeeping services excel.
- Complete Controller: Focused on tailored packages for startups and small businesses, my team ensures your bookkeeping grows alongside your company.
- Bookkeeper360: Flexible pricing structures based on revenue offer business owners peace of mind.
- Bench: This platform seamlessly merges automation with the expertise of human bookkeepers.
These affordable solutions cater to businesses that want experienced professionals managing their finances without hiring full-time employees.
How to Choose the Right Affordable Virtual Bookkeeping Option
Assess your needs
Every business has different requirements, so start with an honest assessment of yours.
- Are you a freelancer needing quarterly tax prep, or do you operate a small business managing complex payroll?
- How many financial transactions do you process monthly?
- Is automation enough, or do you need a team of experts keeping your books flawless?
If you aren’t sure where to begin, review your cash flow and liquidity ratios and SME challenges. This step will help narrow down which services align with your workflow.
Criteria to consider
When evaluating providers, prioritize four critical factors:
- Cost: Opt for solutions within your budget. Budget-friendly picks like Wave are ideal if money is tight.
- Expertise: Ensure the bookkeeper or software understands your industry’s unique challenges—whether you’re in retail, tech, or beyond.
- Technology: Look for platforms offering robust features like real-time updates and secure cloud integration.
- Customer Support: Choose services that promise rapid response times and strong hands-on support. Businesses that use virtual bookkeeping services are 90% more likely to have responsive customer assistance, according to the American Institute of Professional Bookkeepers (AIPB).
The Benefits of Virtual Bookkeeping for Small Businesses
More time in your week
As a business owner, your time is priceless. Did you know the average business using virtual bookkeeping saves 10 hours per week, according to the AIPB? Think about what you could accomplish with those extra hours—focus on strategy, delight your customers, or even take a break for some self-care.
With automated tools and expert management, you’ll stop wasting energy on tasks like invoice organization and payroll, freeing you up to run your business.
Cost efficiency
Hiring an in-house accountant costs an average of $60,000 annually, Gartner reports. Compare that to virtual bookkeeping services, available for as little as $150 per month. Even premium virtual bookkeeping plans cost far less than keeping a full-time accountant on your team.
If you’re trying to decide between these options, the math is simple. Virtual bookkeeping wins every time for affordability. Learn more about cost savings with virtual bookkeeping.
Accuracy and compliance
Tax-time headaches and compliance penalties can derail an otherwise thriving business. Fortunately, virtual bookkeeping makes compliance a breeze. Businesses using these services become 25% more audit-ready, according to the AIPB.
When your financials are automated and reviewed by professionals, errors and inaccuracies shrink dramatically. That translates into cleaner records and peace of mind year-round. Explore the importance of reconciling your accounting statements regularly to stay aligned with financial regulations.
Expertise on demand
According to Gartner, 80% of small businesses that leverage virtual bookkeeping services report improved financial performance. You gain access to seasoned professionals without the cost and hassle of hiring full-time staff.
Whether you face unpredictable growth or industry-specific challenges, virtual accountants can customize solutions to fit your path forward.
Example: Savings With Virtual Bookkeeping Services
Case study: Complete Controller
One of my clients, a rising software startup, struggled with their payroll and invoicing systems. By partnering with Complete Controller, they streamlined these processes, cutting costs by 30%. Their founder shared with me, “Your team saved us $3,000 every month. I can’t believe we didn’t do this sooner!“
For me, hearing feedback like this is the highlight of what we do.
FAQ
What is virtual bookkeeping?
Virtual bookkeeping is remote accounting that uses reliable cloud-based software to organize your records. Learn more from Investopedia: what is virtual bookkeeping.
How much does virtual bookkeeping cost?
It can be as little as $0/month with Wave for basic tools or $150/month for full-service packages.
Will virtual bookkeeping help my small business?
Yes! Virtual bookkeeping saves time, reduces costs, improves accuracy, and ensures your records are ready for audits.
Ready to get started? Let Complete Controller guide you. Visit Complete Controller today!
Sources
- American Institute of Professional Bookkeepers. (2020). “The Benefits of Virtual Bookkeeping for Small Businesses.” AIPB Journal.
- Bench. (2020). “Case Study: Jane Doe.” Bench Blog.
- Complete Controller. (2020). “Case Study: XYZ Inc.” Complete Controller Blog.
- Gartner. (2020). “The Cost of Hiring a Full-Time Accountant.” Gartner Research.
- Gartner. (2020). “The Benefits of Virtual Bookkeeping for Small Businesses.” Gartner Research.
- Intuit QuickBooks. (n.d.). QuickBooks Pricing. https://quickbooks.intuit.com/pricing/
- Investopedia. (n.d.). Virtual Bookkeeping. https://www.investopedia.com/terms/v/virtual-bookkeeping.asp
- Smith, A. (2020). “The Evolution of Cloud-Based Accounting.” Digital Journal.
- Wave. (n.d.). Wave Pricing. https://www.waveapps.com/pricing
- Xero. (n.d.). Xero Pricing. https://www.xero.com/pricing/
- Xero. (2019). “Cloud Accounting Software Security.” https://www.xero.com/blog/2019/06/cloud-accounting-security/
- External Accounting Resources:
- Accounting Today. (n.d.). “How Virtual Bookkeeping Can Save Small Businesses Money.” https://www.accountingtoday.com/news/how-virtual-bookkeeping-can-save-small-businesses-money
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
