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
Cost Savings with Virtual Bookkeeping:
How to Cut Costs and Simplify Your Finances
Money isn’t just a number; it’s the backbone of your business. Yet, managing finances often feels like taming a wild animal—unpredictable, messy, and sometimes downright overwhelming. That’s where virtual bookkeeping comes in, offering a modern, cost-effective solution to streamline your financial processes for growth and simplicity.
As the Founder and CEO of Complete Controller, I’ve worked hand-in-hand with entrepreneurs and small business owners over the past 15+ years to transform their financial chaos into clarity. Virtual bookkeeping isn’t just an alternative to in-house staff; it’s the smart, scalable choice in today’s fast-paced world. Let’s break this down step-by-step—from how virtual bookkeeping works to how it can help your business save money and thrive.
What is Virtual Bookkeeping, and Why Does It Matter?
Virtual bookkeeping is the process of outsourcing your financial management tasks to a remote bookkeeper or bookkeeping service. These professionals use cloud technologies to handle essential functions like payroll management, accounts payable and receivable, financial reporting, and even tax preparation.
Why bother switching to this approach? Here’s the kicker: virtual bookkeeping eliminates the costs of hiring a full-time in-house bookkeeper without compromising expertise or quality. It allows you to access professional services on your terms—whether that’s hourly, monthly, or quarterly.
The Perks You Can’t Ignore:
- Lower Costs: Forget about salaries, benefits, or paid time off. You only pay for the services you need, lowering your overhead significantly.
- Scalability: Whether you’re running a side hustle, a growing startup, or an established business, virtual bookkeeping adapts to your operational needs.
- Expertise on Demand: Virtual bookkeepers are often certified in top-tier bookkeeping software such as QuickBooks Online and Xero, giving you access to skill sets that match your needs.
Interestingly, this isn’t a new concept. Back in the 1990s, the rise of the Internet paved the way for remote work, a revolution that today’s virtual bookkeeping is a part of. Businesses then—and now—embrace this model for its profitability and adaptability.
How to Choose the Right Virtual Bookkeeper
Not all bookkeepers are created equal. Having transitioned thousands of companies into virtual bookkeeping, I can confidently say that choosing the right professional is where the magic begins.
Start with credentials
Would you let someone without a culinary degree run a Michelin-star kitchen? Exactly. Look for certifications like QuickBooks ProAdvisor or Xero Certified Advisor, and don’t hesitate to ask about industry-specific experience. These qualifications ensure you’re working with someone who knows the tools of the trade inside and out.
Strong communication is a must
One of the most frustrating things I’ve seen happen to businesses is unclear communication between their team and bookkeeper. A solid virtual bookkeeper should explain complex financial data in plain English, respond promptly, and proactively address concerns.
If you want tips on finding such a professional, check out this guide on how to find a virtual bookkeeper.
Data security is non-negotiable
Your financial data is your lifeblood. Any trustworthy virtual bookkeeper will use encrypted systems and multi-factor authentication and follow compliance and audit standards. Before you commit, ask about their security measures. For more, dive into the comprehensive guide on data security and compliance in virtual bookkeeping.
Did You Know? A study by Intuit found that businesses save an average of 5 hours per week by using virtual bookkeeping services. Those hours could be reinvested in sales, innovation, or even just focusing on the bigger picture!
Cost-Saving Strategies with Virtual Bookkeeping
Let’s get to the part you’re really curious about—saving money. Done right, this switch can save your business up to 30% on labor costs, according to Gartner. Here’s where you’ll feel those savings the most:
Cut down on labor costs
No salaries, no payroll taxes, no benefits. Virtual bookkeeping lets you work with top talent at a fraction of what you’d pay a full-time employee. Firms often offer hourly rates or fixed project costs, ensuring you pay only for what you need. As outlined in our article on cost savings with virtual bookkeeping, the numbers don’t lie.
Skip the software fees
Many virtual bookkeepers provide their services complete with access to premium software like QuickBooks, Xero, or Zoho Books. That’s one less hefty subscription fee on your monthly bill. You can read more about these cloud-based accounting software benefits.
Automate for efficiency
Automation is the secret sauce of virtual bookkeeping. From reconciling accounts to invoicing, tools like QuickBooks Online can streamline tedious financial processes and eliminate human errors. The result? Saved time, increased accuracy, and reduced costs.
Case Study: XYZ Startups
A growing tech company called XYZ Startups came to us at Complete Controller not long ago with financial challenges:
- Their DIY bookkeeping approach resulted in late payments and vendor disputes.
- In-house bookkeeping had inflated their costs.
- Financial reports were outdated and riddled with errors.
Within six months of switching to a virtual bookkeeping solution, here’s what changed:
- Costs dropped by 50% compared to hiring a full-time bookkeeper.
- Automation cut reconciliation errors in half.
- Custom financial reporting gave them clarity on where every dollar went.
Today, XYZ Startups runs leaner, smarter, and with confidence—all thanks to seamlessly integrated remote bookkeeping solutions.
How to Integrate Virtual Bookkeeping into Your Business
Ready to take the leap into virtual bookkeeping? Here’s how to make the transition painless:
Assess your current needs
Identify what tasks you want to outsource. This could include payroll, account reconciliations, or monthly financial reports. Having a game plan ensures no task goes unnoticed.
Choose your tools wisely
Your bookkeeping software is key to collaboration. We recommend platforms like QuickBooks Online or Xero for their user-friendly interfaces and cloud capabilities. For additional insights, here’s a guide on choosing the right bookkeeping software.
Set best practices
Consistency is king. Schedule weekly check-ins with your bookkeeper, share documents securely, and agree on clear deadlines to keep everyone aligned.
Oh, and don’t forget—those weekly hours you reclaim? Use them wisely. According to QuickBooks, companies using virtual bookkeeping see productivity rise by 25%.
Conclusion: Simplify and Save
Virtual bookkeeping isn’t just a “nice-to-have” solution. It’s a proven, cost-effective way to simplify your finances, regain control of your time, and fuel your business growth.
As someone who has made financial empowerment my life’s work, I can’t recommend this approach enough. From cloud-based systems to cost-effective expertise, virtual bookkeeping represents the future and the present of wise financial management.
If you’re ready to step into financial clarity, let Complete Controller show you the way. Learn more here!
FAQ
What does the average cost of virtual bookkeeping look like?
Virtual bookkeeping services usually cost $25–$50 per hour, depending on the scope of work and the bookkeeper’s credentials.
Is virtual bookkeeping secure?
Yes! As long as your provider uses encrypted systems, secure cloud platforms, and compliance standards. Read more about data security and compliance in virtual bookkeeping.
Can this work for non-profits?
Absolutely. Many non-profits use remote solutions to save on costs and focus their funds where it’s needed most.
How do I find a virtual bookkeeper who fits my needs?
Start with certifications, reviews, and references. Here’s a step-by-step guide about how to find a virtual bookkeeper.
What tools are commonly used?
Popular platforms include QuickBooks Online, Xero, FreshBooks, and Zoho Books.
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.
