How Does Virtual Bookkeeping Work?

Virtual bookkeeping permits a bookkeeper or accountant to offer accounting services to clients via the internet. The trend of telecommuting jobs is increasing in popularity as companies look for innovative ways to achieve an appropriate balance between staffing arrangements and work load. 

An arrangement for bookkeeping online can be beneficial for both the business as well as the bookkeeper, in terms of the flexibility and cost.

Apart from the location of work there isn't much difference between traditional bookkeeping and a virtual arrangement. Virtual bookkeeping allows bookkeepers to utilise computers to create bookkeeping software that can post financial transactions, look over and update statements , and reconcile accounts.

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How It Works

In order to enable virtual bookkeeping, the company allows the bookkeeper access to its servers, software and financial records. The bookkeeper logs onto the secure network of the company via his personal computer. 

He connects to the files the same way when logged on an office computer. He then installs the bookkeeping software of the company on his personal computer. 

In accordance with the agreement, either the employee or the customer can buy and install the software, however both need to use the exact program and version in order to ensure proper communication and transfer of the documents.