Tag: Bookkeeping services near me

BENEFITS OF OUTSOURCED BOOKKEEPING SERVICE

Posted on 12/05/2020

13 BENEFITS OF HIRING AN OUTSOURCED BOOKKEEPING SERVICE

Precise and up-to-date accounting is vital for a growing business as non-compliance takes a heavy toll on a business, hampering its development. But business owners and executives can gain more value from their time spent on business growth rather than bookkeeping. Though they could employ online accounting software like Quickbooks, they would still need an expert to feed accurate and relevant data. Thus, outsourced bookkeeping services become indispensable for any business and here are some benefits which you could derive from them.

ABUNDANT TIME

Velan’s bookkeeping services help businesses in freeing up valuable time which can be utilized for business development and betterment of the organization. Frequent distractions in the form of day-to-day accounting are eliminated, thereby improving the efficiency of the business. Customer satisfaction then gains prominence for executives, resulting in improved customer retention and referrals

RESOURCE MANAGEMENT

Resources locked in non-core Finance Accounting Statement activities can be then utilized in tasks that achieve vital business growth objectives. Executives who save money by doing their bookkeeping or doing them using non-finance employees lose out on valuable time which could be employed productively.

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OUTSOURCED-BOOKKEEPING-SERVICE-NEAR-ME

REDUCED COST

Outsourcing your bookkeeping helps you save significant money as often they could be hired at just a fraction of the cost of an in-house bookkeeper. As the service can also be customized according to your needs, you could also save up lots of idle time of an in-house bookkeeper. Velan’s bookkeeping service helps its clients save up to 40-45 % of the standard cost.

ACCESS TO EXPERIENCE AND SKILL

Hiring an outsourced bookkeeping service like Velan gives businesses access to rich experience and knowledge, without the need for hiring them full-time. Efficient and streamline accounting becomes possible as your books are handled by experts with accounting experience in a variety of industries.

LATEST TOOLS AND TECHNOLOGIES

Technology is progressing at breakneck speed and businesses have an urgent need to be in sync with them to compete in the volatile business environment. Velan’s bookkeeping experts keep up with the latest bookkeeping software and trends, thereby offering the client the best possible service.

LESS SCHEDULING

As business accounting demands consistent updates, businesses without a bookkeeping partner have to spend much of their efforts on proper scheduling and compliance. Whereas a dedicated bookkeeping partner like Velan can augment your existing infrastructure, streamlining the entire system for better efficiency without your inputs.

EXPONENTIAL GROWTH

As mentioned before, an outsourced bookkeeping partner can substantially reduce your operational costs, delivery time and personnel employed. Thus, an outsourced bookkeeping service can maintain your books and can also provide a strong base for your growth by enhancing profits and accelerating cash flow.

PRIVACY

The financial records of business require maximum confidentiality and must be handled with the utmost secrecy. Thus, trust between partners becomes vital and a certified bookkeeping partner maintains the highest level of privacy as they have to deal with multiple clients and a single blemish can become fatal.

SECURITY

Continuing from the privacy benefit, a virtual bookkeeping partner will employ highly encrypted web servers and strict security guidelines within their office premises. This your data can be more secure with a virtual bookkeeper than with a local bookkeeper who may know about your personal finance.

SCALABILITY

One major advantage of experienced bookkeeping service providers like Velan is that they have a standard process that can be scaled and customized according to the requirements of the client. This a small business can hire them at a much lesser cost and scale the service as they grow, thus making it suitable for a business of any size.

TAX AND AUDIT

When a business grows, it becomes difficult for a local bookkeeper to keep their books as different regions and countries have different tax compliance regulations. Whereas a virtual bookkeeper will have experience dealing with clients from different countries and can help you navigate the myriad tax and audit processes.

ACCURACY

Error-filled business accounts can prove to be a hindrance to business growth as they can lead to penalties and even investigations. An experienced virtual bookkeeper can maintain accuracy by using the latest and high-quality accounting tools and automating error-prone manual tasks wherever possible.

MOBILITY AND REMOTE ACCESS

Access to your accounts using a mobile device or laptops is one important benefit of hiring an outsourced bookkeeping service. Multinational organizations with offices in different locations involve a lot of travelling for their executives and they may not have the option to present in a single location all the time. This the remote access to your books is a vital factor in outsourcing your bookkeeping.

Topics: Bookkeeping Services


9 TOOLS TO IMPROVE BOOKKEEPING EFFICIENCY WHILE WORKING FROM HOME

Posted on 16/04/2020

How can you maintain your bookkeeping efficiency while telecommuting?

In light of the COVID-19 pandemic, organizations across the world are encouraging their employees to telecommute, thereby preventing the rapid spread of this virus and ensuring employee safety. However, the organizations need to maintain the productivity and efficiency of the employees as most of them have not worked from home before this pandemic. Companies that are equipped with the right hardware, proper bandwidth, sufficient VPN capabilities, and secured web servers have a smooth transition from traditional office space to a home environment.

Successful bookkeeping organizations like Velan, also have a secure and accurate infrastructure with sufficient capabilities to manage the workload of its entire workforce who are telecommuting. Tools and technology can further streamline this transition and here are some tools that could have a major impact on your bookkeeping services an efficiency while working from home

HIGH-SPEED INTERNET

Professional bookkeepers distinguish themselves from mediocre ones by employing high-speed internet with sufficient bandwidth to avoid delays and buffers in their work. As they also deal with sensitive information, the usage of a secured web server can also give an edge over their competitors. The last thing you want is a slow internet connection in the middle of a meeting with your client.

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9 TOOLS TO IMPROVE WFH

SLACK

Slack is a highly popular team management tool that helps team leaders to manage their subordinates using text, audio, and video communication. Though it is sophisticated enough to have a feature to build online communities, it also has simple features like file sharing where the users can share any type of file ranging from images to PDFs. It also eliminates the hassle of maintaining complex email chains by allowing users to leave the channel, once their work is done in the project

TRELLO

One of the best project management tools around, Trello is highly visual allowing its users to access powerful features with a simple user interface. It allows managers to handle multiple projects simultaneously using a feature called “Boards”. Each board has multiple “Lists” which are equivalent to various divisions in a project and each list can have many “Cards” which are the tasks performed. Thus, Trello offers flexibility and simplicity which could provide useful for managers to handle remote teams

ASANA

Asana is also a project management tool with comparatively more features that could prove useful for telecommuting but with a complex interface. Similar to Trello, it has the “Boards” and “Lists” features, but in addition to that, it also has “Timeline” and “Calendar” features to integrate your tasks with the calendar and assign them a priority. It is also equipped with project templates and pre-determined workflow which makes it easier for beginners as they can input their data and follow the process

GOOGLE FORMS AND SPREADSHEET

One major advantage of Google tools is their popularity which makes them compatible with various software tools and products and simple enough to be used transparently with your clients without much fuss. For example, you can easily manage your inventory using google spreadsheets by logging it if anything moves in or out while keeping your client in the loop at all times ensuring accuracy and transparency.

TODOIST

While Trello is an executive-level software giving you a bird’s eye view of the whole project, Todoist is an employee level software with minimalist features. Bookkeepers working from home can improve their efficiency by using this software as it gives them options to prioritize their tasks based upon importance, create reminders and even delegate tasks to colleagues if needed. It is more of a personal software but can also double up as a project management tool seamlessly

GRAMMARLY

Working from home involves a lot of writing and editing work as communication mostly involves texting through various tools and emails. Grammarly is an online writing assistant tool that can clear most of your grammatical errors and can further improve the tone of your writing. The ability to communicate clearly with your clients is vital and Grammarly ensures that your document is clear and easy to read. Hence Grammarly is a must for every employee whose work involves writing and editing

DROPBOX

Sharing large files over email can sometimes become difficult and hence Dropbox can be your primary content sharing platform, particularly for employees working remotely. Employees working from home can easily share work-related presentations, documents, and video files with their colleagues thereby collaborating efficiently

SKYPE

Skype is a commonly used free communication platform which supports audio, video and text communication and can be used in your computer as well as a mobile device. The major advantage is its cost efficiency and offers high-quality video and audio chats. With an array of features, Skype is a highly affordable communication tool with an easy-to-use interface

CONCLUSION

Most employees make the mistake of working from their kitchen or dining table, thereby making them susceptible to a lot of distractions. Though some manage to work efficiently like that, most people need a dedicated workspace. A proper workstation, high-speed internet, relevant tools, and good vibes can make your work highly productive and provide you with a successful telecommuting experience.

Topics: Bookkeeping Services