Outsourced Accounting Services

Virtual Accounting- Outsourced Accounting Services

Several businesses today outsource main jobs that are not within the core competencies of the staff, and accounting is undoubtedly not an exception here. Virtual accounting/outsourced accounting services are generally a new trend allowing experienced accountants to offer their services remotely. Companies across the UK are taking advantage of cost-effective, flexible, and efficient accounting options so that they can align with their business objectives by focusing on their core business activities.


outsourced accounting services


Basics about virtual accounting/outsourced accounting services

Virtual accounting is ideally a way or system where qualified and experienced experts offer accounting services virtually instead of working physically at the client’s office or place. It is also known as outsourced accounting services. Virtual accounting provides the same assistance as the business would get in case of hiring an in-house accountant, but because the accountant telecommunicates and is a contractor, the cost is budget-friendly. These services allow for better flexibility for accounting professionals and, of course, for the business.

As the virtual accountant is working remotely, communication is the most critical factor in this field, and to communicate effectively, your client and you must be on the same page.


Understand what your client wants

It goes way beyond the need as it is known as value captured. For instance, a client coming to you with the need would be asking you to prepare the year-end account but what they might want is a specific level of economic development. You need to understand the client’s value during the onboarding process. Then, you can use the time to accomplish the client’s expectations. As the virtual format of your business can sometimes lead to some misunderstandings, you must be clear about the expectations of the client. There are some outlined things that you need to do to prevent some unrealistic expectations from the start. You also need to organize an in-person meeting at some point of time in the process, and if that is not feasible, then you can go for a video conference.


Write down the specific elements which you wish to clarify

For example, how your work, if you are not in the exact physical location, would be a great question to ask. So whatever queries you have at the back of your mind, you should clarify them with the client so that you are on the same page.

Use phone calls:- 

Consider using this method for clients who are not that tech-savvy; if you want to know something, you just have to call them as it will be quick and quite effective. Additionally, you will save time and provide clear information quickly, and all the queries will be straightforward at the time of the call. Communication clarity is a must. 

Implement process and rhythms:- 

It requires minimum administration with them, or a process starts guiding things naturally. They keep team members on the same page and allow your practice to run seamlessly. 

Hence when accounting takes place, both parties should take some communication responsibilities to ensure the best possible outcome.