By: Jennifer Brazer
Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.
Fact Checked By: Brittany McMillen
How to Choose the Right Virtual Bookkeeping Service
Managing your business finances shouldn’t feel like trying to row a boat with a hole in the bottom. What you need is clarity, precision, and a system so organized it practically runs itself. That’s where virtual bookkeeping services come in—a remote solution that could save you countless dollars, hours, and (sometimes) headaches. But let me tell you this upfront: not all services are created equal. Choosing the wrong provider could leave you drowning in financial mishaps.
This guide will walk you step-by-step through selecting the best virtual bookkeeping service for your business. By the time you finish reading, you’ll be empowered to make smarter decisions for your financial health.
What Are Virtual Bookkeeping Services?
Think of a virtual bookkeeping service as your personal financial guru—minus the in-office setup. These experts leverage cloud-based bookkeeping tools like QuickBooks or Xero to handle everything remotely, including:
- Accounts payable and receivable.
- Payroll processing.
- Tax preparation and compliance.
- Financial report generation.
As the CEO of Complete Controller, I’ve spent more than 15 years helping clients transition from chaotic spreadsheets to streamlined virtual solutions. One thing is clear: the right tools, coupled with the right expertise, can revolutionize financial management.
Virtual bookkeeping and the rise of remote work
The expansion of remote work during and following the COVID-19 pandemic paved the way for virtual bookkeeping to take center stage. A survey by Gallup found that 43% of employed adults in the U.S. worked remotely at least part-time by 2020, up from 31% in 2015. This shift normalized virtual services across industries, allowing businesses to sidestep geographic constraints and tap into global financial expertise.
Key Benefits of Virtual Bookkeeping Services
Why are businesses letting go of in-house staff and jumping on the virtual bookkeeping bandwagon?
Cost savings
According to the American Institute of Certified Public Accountants (AICPA), outsourcing bookkeeping can save businesses up to 30% compared to hiring in-house staff. You eliminate traditional overheads like office space, equipment, and payroll taxes. This is especially valuable for startups needing affordable bookkeeping for startups without skimping on quality. Learn more about the cost savings of outsourcing bookkeeping.
Scalability and flexibility
Whether your business is growing or experiencing a temporary slowdown, virtual bookkeeping allows you to scale services up or down without the hassle of hiring or laying off staff.
Expertise and insights
A report from the National Association of Certified Public Bookkeepers (NACPB) highlights that virtual services often bring specialized industry expertise. This means you’re not just hiring a bookkeeper—you’re gaining a financial strategist who can help you prepare for tax season, optimize cash flow, and support financial planning.
Efficiency through automation
According to Accounting Today, 75% of small businesses report increased efficiency after switching to virtual bookkeeping. Modern tools automate repetitive tasks, reduce human error, and provide instant access to real-time data.
Features to Look for in a Virtual Bookkeeping Service
Every business has unique financial needs, but no matter your niche, these features must be non-negotiable.
Dependable cloud-based bookkeeping tools
If the provider isn’t using secure and reliable cloud-based accounting software, you’re already on the wrong track. Tools like QuickBooks, Xero, and FreshBooks provide access to real-time financial updates anywhere, anytime. Learn about cloud-based accounting software.
As someone who’s spent decades championing virtual financial solutions, I’ve seen tools like these transform businesses. One client, a small creative agency with no prior experience in accounting, started tracking expenses and profit margins so effortlessly they were able to triple profits within three years.
Top-notch security systems
Your financial data isn’t just sensitive—it’s sacred. Any service worth its salt should offer encrypted storage, two-factor authentication, and compliance with regulations like GDPR. Learn about data security in cloud accounting.
Tailored packages for flexibility
Your financial support needs will inevitably evolve, so the service you choose should offer customizable solutions. Startups might need part-time support now, while scaling businesses may want full-time virtual assistance down the road.
Evaluating and Comparing Services
The marketplace for virtual accounting services is vast, so how do you choose the best one? Let me walk you through the steps I’ve personally recommended to clients over the years.
Check credentials
Certifications like QuickBooks ProAdvisor or CPA status demonstrate a provider’s expertise. When evaluating providers, look for those following small business bookkeeping essentials.
Prioritize communication
Timely, clear communication is critical. During initial consultations, gauge how responsive the service is. Quality providers should make you feel heard and understood at every stage.
Transparency in pricing
Whether it’s an hourly rate for freelance services or a flat monthly fee for a larger firm, ensure pricing is straightforward. Hidden fees could quickly sabotage your budget.
Real-World Success: A Case Study
One tech startup struggled with rapid growth and unorganized books—it was the perfect storm. They partnered with Complete Controller and saw remarkable results:
- Reduced bookkeeping costs by 30%.
- Enhanced reporting accuracy by 25%.
By freeing resources, they refocused on scaling their core operations. Their experience speaks to the transformative power of outsourcing bookkeeping.
How to Hire a Virtual Bookkeeper
By now, you’ve likely shortlisted a few providers. Here’s how to seal the deal:
Define your needs
Clearly outline whether you need help with payroll, budgeting, tax compliance, or a combination of these. For guidance, review our tips on efficient business finance management.
Conduct interviews
Ask each candidate about their industry experience, tools they use, and turnaround times. You’ll want someone who understands your business as deeply as you do.
Check references
Always verify testimonials by reaching out to past clients.
Start small
If possible, begin with a trial project to evaluate whether their workflow aligns with yours.
Advantages of Virtual Bookkeeping Services
Still on the fence? Let’s bring it home with these tangible benefits:
- Higher Accuracy: Automation minimizes errors and keeps your finances clean.
- Improved Insights: Tap into expert advice for maximizing revenue or cutting unnecessary costs.
- Peace of Mind: No more juggling complex spreadsheets—leave it to the pros.
Conclusion: Simplify Your Financial Journey
Streamlined financial management isn’t a luxury—it’s essential for growth. The right virtual bookkeeping service doesn’t just save you money; it simplifies decision-making, boosts accuracy, and frees you up to focus on scaling your business.
As a business owner myself, I know the relief that comes from partnering with experts who “get” your goals. Ready to break free from outdated financial practices? Visit us at Complete Controller and take the first step toward clarity and confidence in your financial future.
Here’s to more thoughtful choices and bigger wins. Don’t wait—your clarity starts now.
FAQ
What sets virtual bookkeeping apart from in-house staff?
Cost-efficiency, remote access, and specialized expertise you’d rarely match with in-house employees.
How can I ensure my financial data is safe?
Stick with providers who prioritize cutting-edge encryption, secure authentication methods, and compliance with global standards like GDPR.
Do virtual bookkeepers handle taxes?
Many services include tax prep and compliance, but they also collaborate with your CPA for more complex needs.
Sources
- American Institute of Certified Public Accountants (AICPA). (2020). “The Benefits of Outsourcing Bookkeeping Services”. https://www.aicpa.org
- Accounting Today. (2020). “Virtual Bookkeeping Services: A Game-Changer for Small Businesses”. https://www.accountingtoday.com
- National Association of Certified Public Bookkeepers (NACPB). (2020). “The Benefits of Virtual Bookkeeping Services”. https://www.nacpb.org
- Gallup. (2020). “State of the American Workplace”. https://www.gallup.com
- Gartner. (2020). “Market Share: Cloud-Based Accounting Software”. https://www.gartner.com
- Complete Controller. (2020). “Case Study: Tech Startup Saves 30% on Bookkeeping Costs”. https://www.completecontroller.com
- Xero. (2020). “Case Study: Small Business Increases Efficiency”. https://www.xero.com
- Grand View Research. (2020). “Virtual Bookkeeping Services Market Size, Share & Trends Analysis Report”. https://www.grandviewresearch.com
- National Association of Certified Public Accountants (NACPA). (2020). “The Benefits of Virtual Bookkeeping Services”. https://www.nacpa.org
- Internal Revenue Service (IRS). “Outsource Bookkeeping”. https://www.irs.gov/businesses/small-businesses-self-employed/outsource-bookkeeping
- Accounting Today. “Cloud Accounting Software: What You Need to Know”. https://www.accountingtoday.com/news/cloud-accounting-software-what-you-need-to-know
- European Union General Data Protection Regulation (GDPR). “Data Security in Cloud Accounting”. https://www.gdpr.eu/article/data-security-in-cloud-accounting/
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.
