Why Accountants Are Moving To Virtual Offices

The first and most important term for any business owner to understand is “profit”. That is the essence of the venture in the first place. A doctor heals us of our illness, accountants job is to ensure businesses account’s “i”s are dotted and the “t”s crossed.

Accounting is a job that does not necessarily need a brick and mortar office to be performed. When the required information is provided, the accountant can work from anywhere.

With a forecasted revenue of more than 156 billiongenerated from the industry, more and more of the practitioners are leaving their four-walled office to begin to work virtually. This is because it saves cost and saved cost translates to “more profit”.

In the first place, it is right to ask “why accounts need a virtual office?”. This question wouldn’t be one a few years ago before the invention of the internet. And with the everyday release of software that made accounting tasks easier and able to be done anywhere, many accountants now even doubt the justification of an office in the first place.

Over time, virtual offices have been proving to be a better alternative for accountants who seek some “me time”.

It’s only an understatement to say it has not proved to be effective. Here are some of the reasons many accountants put into consideration before eventually deciding either to go virtual or to stay glued to a desk in the office area.

Reduced Operation Cost

Just as the virtual office has been helping different industries professionals save a lot on operational cost, the accounting profession is not left out. Thompson Reuters stated on their website that a financial company Glen Ross from Ross & Company CPA was able to save $20,000 a year by transforming to the virtual style of operation.

Supports Small Business

The accounting section plays an important role in every business. There are various small businesses devoid of these, hence their accounts have always been nothing to write home about. With the support of virtual offices that burden can be lightened and unnecessary losses can be cut short. Because virtual offices offer accounting services of at reasonable prices.

This ability to significantly reduce cost is one of the main reason why a virtual office is best for accounts.

Competency

Business startups benefit generously from virtual offices as they are more likely to need a competent financial consultant for their business.

It is very easy for them to log onto a virtual office site to ask for financial advise and afterward hire such for their company. Why this? Startups usually prefer someone who understands their mode of operation and thus will not charge them excessively while delivering a great service.

This is possible for a virtual office accountant because the exorbitant fee of rent is out of the way and therefore can be merciful in billing.

Working from Convenience

Many ideologies relating to accounts have been put to test by virtual offices for instance “all accountants work in an office“.g

Nowadays we have accountants working from their bedrooms, yes, bedrooms due to the opportunities that virtual offices offer especially the availability of software that makes work easy and stress-free.

Office Address

Accountants need an address to receive mail such as a client’s company financial files. An address is also needed on the company’s website to show the financial firm credibility.

Using a home address may sound like it is a good choice since that shows guaranteed credibility. But culture has trained us all that a business should be separated from home.

Listing a home address as an office address is not allowed in some cases, and in others, it makes the business less professional.

The accountant does not need to pay monthly or yearly rents for spaces used for meetings with clients, as virtual offices provide the options of conference rooms and private offices in relation with the nature of the meeting, hence promotes professionalism.

Access to Cost-Effective Virtual Assistants

Especially as a start-up account firm, the cost of hiring an office assistant is too expensive. Big companies even though they could afford office assistants are reducing cost by hiring virtual assistants instead.

Virtual assistants are professionals who in most cases have worked in the same capacity they would be undertaking virtually for many years. Some of the task they help accounts with include;

• Data entry
• Schedule management
• Research (such as that of a potential client)
• Responding to emails and taking notes in a meeting.

Saves Commuting Cost

The cost of commuting to work every day is not just in monetary term. A post on psychology today tagged it “The Stress That Doesn’t Pay”. A news website in Hawaii described it thus: “It Takes Your Time And It Gives You Back Stress”.

The use of a virtual office evicts the stress and at the same time the gasoline cost of shuttling to a four-walled office. Accountants having realized this are now switching to the “virtual office” to save them of all these costs and also have more time for their family or other things that are important to them.

Staying Updated

Working remotely requires the heavy usage of technology especially software. Want to communicate with a client without calling? There is a software for that. Need to send an invoice to a client? Simple clicks on software will do just that.

Lots of accounting jobs are now made easier than ever thanks to technology. Getting involved in the use of these technologies make accountants working virtually to always be on the lookout for the latest and new technology in their industry.

Since this is one of the edges big firms usually have over the smaller ones. Virtual accountants are usually delivering just as multinational counterpart could.

3 Things Accountants Need to Consider Before Moving to a Virtual Office

The answer to the question “why accounts need a virtual office?” has been answered with the reasons discussed above.

Any accountant considering to move and join the others enjoying the benefit and flexibility of a virtual office needs to consider the following;

SEO Services

Many online startups and business owners want to be able to create websites that are always within the reach of customers, can be quickly accessed and are user-friendly. The accounts section is not left out in this quest as they also search for a way to climb the rankings of search result pages. This is one of the services that virtual offices offer. Virtual offices utilize SEO services to improve your visibility and increase traffic generated to your site.

Quality Working Environment

Working virtually doesn’t permit the use of cheap bargain bin equipments, so as an accountant aiming to have a boom-in-career, there would be the need to equip your workspace pieces of equipment that would help maximize your potentials and while that doesn’t come handy, virtual offices offer a hand in getting these materials or software at a less expensive rate.

The Needed Office Assistants

You should not only hire a virtual assistant when you discover you cannot do without one. Knowing beforehand even though you may not hire them directly will help in factoring it into the budget.

Budgets are well managed when there is little or no contingency. Factoring everything in before commencement is proof of your competency as an accountant.

Virtual offices will support your business with the best of the best by linking you up with worldwide talents, a virtual office can provide you with assistants that are way above what your paygrade ever could be for very less to help handle all communication tasks, manage customer services, and questions as well as their needs. This would eliminate so much stress and help you achieve so much within a short time.

Now the question is would you rather be surrounded by ledgers, invoices, and cash books when there are virtual offices with the sole purpose of easing your accounting problems, with the additional advantage of relieving you of the boring and tedious moments with weeks and days old ledgers invoices and cash books.

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