How a Virtual Bookkeeper Can Improve Your Business & Life

A Great Virtual Bookkeeper Will Change Your Life—Seriously.

Bold claim, I know. So let me explain why I think virtual bookkeepers are the future.

Bookkeeping is the backbone of every business (without income and expenses, there’s no such thing as a business).

But let’s be honest—most entrepreneurs would rather spend their time growing their business or taking sales calls than sitting at their computers reconciling bank accounts.

That’s where virtual and remote bookkeepers come in.

A virtual bookkeeper (also known as a remote bookkeeper) will keep your accounting and finances in order (and identify profit opportunities and threats) without taking up a desk in your office.

Let’s break it down so you can decide if it’s time to let go of those spreadsheets and outsource your bookkeeping.

What Is a Virtual Bookkeeper?

A virtual bookkeeper works entirely online, managing your financial records from anywhere in the world. They rely on cloud-based software (like Xero, QuickBooks, or MYOB) to handle everything from invoicing and expense tracking to bank reconciliation.

The best part? You don’t need to meet them in person—they’ll handle everything through emails, Zoom calls, and shared cloud systems. They can also work to your specific time zone.

Benefits of Hiring a Virtual Bookkeeper

Why hire a virtual bookkeeper when you could do it yourself (or hire someone in-house)?

• Cost Savings: Virtual bookkeepers specialise in bookkeeping and have systems and software to streamline your operations better and cheaper than a traditional accountant can. Plus, you don’t have to pay for office space, equipment, or employee benefits.
• Access to Expertise: Get top-tier financial management without needing a full-time accountant. Many virtual bookkeepers are specialists in cloud accounting, financial reporting, compliance.
• Flexible Availability: A virtual bookkeeper can tailor their schedule to suit your business needs and provide after-hours support as needed.
• Scalability: As your business grows, you can adjust the services you need without hiring new staff. A virtual bookkeeper likely has other financial professionals they can refer you to as well.
• Focus on Core Business: When someone else handles your books, you get more time to focus on what matters—like growing your business or getting a decent night’s sleep.
• Accurate Data: High-quality bookkeepers make sure your financial data is up-to-date and accurate. Then, you can use that data to make smart business decisions (like buying new equipment, expanding your operations, or hiring new staff).

What Does a Virtual Bookkeeper do?

A virtual bookkeeper is very similar to a regular bookkeeper, except they’re usually much more tech-savvy and independent. Some of the services they provide are:

• Invoicing and Accounts Receivable: They ensure you get paid on time by tracking invoices and following up with late payers.
• Accounts Payable: They manage and pay your suppliers to keep the cash flowing smoothly.
• Bank Reconciliation: They align your books with your bank statements to ensure nothing’s missing or duplicated.
• Payroll Management: They prepare employee wages, superannuation, reimbursements, and deductions.
• BAS/GST Filing: If your business is registered for GST, they can ensure your compliance with tax regulations.
• Financial Reporting: They can generate profit & loss statements, cash flow reports, budgets, and balance sheets.
• Software Setup and Integration: Virtual bookkeepers can also help with the initial setup and ongoing management of cloud software like Xero, MYOB, or QuickBooks.

How to Choose the Right Virtual or Remote Bookkeeper

Like everything, not all bookkeepers are created equal. Many bookkeepers are inexperienced or unqualified. Generally, higher price = higher quality, while lower price = lower quality (which means you’ll end up having to micromanage them like an employee).

Here’s how to find the right one:

1. Look for Cloud Accounting Experience: Make sure they’re familiar with the software your business uses—whether it’s Xero, QuickBooks, or MYOB. Bonus points if they’ve worked in your industry before.
2. Check for Certifications and Reviews: In Australia, for example, bookkeepers can be registered BAS agents, which means they’re licensed to handle GST reporting. Read online reviews or ask for references to confirm their credibility.
3. Define Your Needs: Do you need someone just for end-of-month reconciliations, or are you looking for full-service bookkeeping and virtual CFO? Be clear about your needs from the start.
4. Consider Time Zones: If you need real-time updates or frequent communication, working with someone in a similar time zone can make life easier. If you don’t mind waiting a few hours for responses, you can broaden your search globally.
5. Trial Period: Start with a short trial period to ensure the working relationship fits your business. This will also help you gauge their responsiveness and attention to detail.

Potential Challenges

While hiring a virtual or remote bookkeeper can transform your business, there are a few challenges you might face:

• Communication: Clear, timely communication is important when working remotely. Make sure your virtual bookkeeper is responsive, organised, and takes initiative. They should be a consultant, not an employee.
• Security Risks: Your financial data is sensitive. Make sure your virtual bookkeeper follows best practices for data security, such as using encrypted software and cloud backups. They should send you an engagement letter which outlines all the terms of working with them (confidentiality, pricing, contractors etc.)
• Technical Issues: Remote bookkeepers rely on technology, so a stable internet connection and up-to-date software are needed.

Tools To Use With a Virtual Bookkeeper

Cloud-based software makes it easier than ever to work with virtual bookkeepers. Here are a few tools that can make collaboration simple + easy:

• Xero: Ideal for small + medium businesses; handles everything from invoicing to reconciliation.
• MYOB Online: Popular for businesses of all sizes; offers strong reporting and payroll features.
• Hubdoc: A lifesaver for automating receipt capture and data entry.
• Dext: Formerly Receipt Bank, this tool simplifies expense management. It’s similar to Hubdoc
• Google Workspace: Share documents, track tasks, and collaborate with your virtual bookkeeper.
• Monday.com: Track projects, ongoing work, and share documents related to milestones.

Ready to Hire a Virtual Bookkeeper?

If bookkeeping is eating into your productivity or stressing you out, it’s time to outsource. When you know, you know:

• You’re spending more time on bookkeeping than on growing your business.
• Your records are a mess, and tax season is getting closer.
• You’re missing payments or forgetting to send invoices to clients.
• You’re scaling up and need help managing payroll or accounts payable.
• You want cleaner, more organised financial reports to inform business decisions.

How Much Does a Virtual or Remote Bookkeeper Cost?

Pricing always depends on the size of your business and the complexity of the work. Many bookkeepers charge hourly rates between $60-$100 or offer monthly packages starting at $400-$600 for basic services. Specialised tasks like payroll, BAS preparation, or virtual CFO will usually cost extra.

Is a Virtual Bookkeeper Right for You?

Hiring a virtual or remote bookkeeper might be one of the smartest moves you make for your business.

Whether you need full-service bookkeeping or just someone to handle reconciliations, a virtual bookkeeper will help you stay organised and compliant—without the hassle and stress of hiring permanent in-house staff.

With today’s cloud technology, location is no longer a barrier. You can work with the best talent, regardless of where they live, and level up your business.

Want To Know More?

Thinking of hiring a virtual bookkeeper but still have questions? Want to outsource your business finances to an expert team of accountants? To find out more, email me your questions or book a call with me here.

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