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
Common Misconceptions About Virtual Bookkeeping
Did you know virtual bookkeeping could cut your accounting costs by up to 40%? Yes, you heard that right. But despite its stellar benefits, many businesses hold back due to misinformation. Fear of security risks, challenges in setup, and skepticism about reliability—these misguided notions are costing businesses both time and money.
Over my 15+ years as the CEO of Complete Controller, I’ve watched countless entrepreneurs transform their businesses by shedding outdated beliefs about virtual bookkeeping. Together, let’s break down the common misconceptions holding you back. By the time we’re done, you might wonder why you didn’t switch sooner.
Myth 1: Virtual Bookkeeping is Less Secure
One of the most frequently raised objections I hear is, “Isn’t it risky to hand over sensitive financial data to online platforms?” This concern is valid—your financial security should always be a priority. However, the reality is that online bookkeeping services invest heavily in protecting your information.
The facts about security
The top virtual accounting solutions offer bank-level encryption, secure cloud-based storage, and multi-factor authentication to safeguard your data. For instance, at Complete Controller, we implement systems equivalent to those used by major financial institutions. Regular audits and secure data backups guarantee that even in worst-case scenarios, your information is protected.
For perspective, Gartner reports that businesses implementing virtual bookkeeping reduce their financial costs by up to 40%—and they do so without compromising security. In fact, your spreadsheets sitting on an office computer are likely more vulnerable to breaches than cloud-based solutions.
Want extra peace of mind? Always verify that your bookkeeping service has SOC 2 compliance, a gold standard for data security. And for an added layer of protection, remember to prioritize best practices, such as those detailed in the importance of reconciling your accounting statements regularly.
Myth 2: Only Large Businesses Need Virtual Bookkeeping
I hear this all the time: “My business is too small to benefit from remote bookkeeping.” Let me set the record straight—small businesses and startups are arguably the ones who gain the most.
Why small businesses thrive with virtual bookkeeping
As a small business owner, you’re likely juggling multiple roles. Virtual bookkeeping allows you to offload time-consuming financial tasks while also saving money.
Here’s how:
- Lower Costs: Outsourced bookkeeping services cost far less than hiring an in-house bookkeeper.
- Scalability: From handling a handful of invoices to managing payroll, virtual bookkeepers adjust to meet your needs.
- Flexibility: You can start small and expand services as your business grows.
I worked closely with a local coffee shop struggling to keep up with inventory tracking and payroll. After transitioning to virtual bookkeeping, they reclaimed hours each week and channeled that time into launching new menu options. This kind of transformation is why I’m so passionate about spreading the word.
Curious about other strategies to simplify your process? Check out these small business bookkeeping tips and tricks.
Myth 3: Virtual Bookkeepers Lack Personal Touch
It’s easy to assume that working with someone remotely means sacrificing personalized service. However, good remote bookkeepers don’t just input numbers—they build relationships.
Real connections, regardless of distance
The best virtual bookkeepers conduct regular check-ins, offer tailored financial advice, and serve as your trusted advisors. I’ve witnessed many clients develop lasting relationships with their bookkeepers. With no office politics in the mix, the focus is purely on delivering results and supporting your business.
For the best experience, schedule consistent video calls and share your business goals. You’ll realize that your virtual bookkeeper is as invested in your success as you are.
Myth 4: It’s Hard to Set Up Virtual Bookkeeping
Businesses often delay making the switch because they fear a messy, time-consuming transition. But let me break this myth for you—it’s way simpler than you think.
Quick and hassle-free setup
Modern bookkeeping platforms like QuickBooks Online, Xero, and Wave are designed with usability in mind. They provide step-by-step guides for data integration, and most virtual bookkeepers will handle the heavy lifting for you.
I recently worked with a startup that was transitioning to QuickBooks Online. They were nervous about migrating all their receipts and spreadsheets. With the proper guidance, we had their financials fully integrated in under a week. By the next day, they were running real-time reports with a few easy clicks.
Here’s how to get started:
- Identify your bookkeeping needs—tax prep, payroll, or full financial management.
- Select a platform that aligns with your business.
- Work closely with your bookkeeper during the onboarding process.
Early adopters of virtual bookkeeping have historically reported significant savings and streamlined operations, so don’t let fear of the initial setup stop you.
Myth 5: Remote Bookkeepers Are Unreliable
If you’ve ever wondered, “What if they just disappear?” you’re not alone. Reliability often comes down to finding a certified, experienced provider.
Separating the best from the rest
Established certifications like CPA or QuickBooks ProAdvisor back reputable virtual bookkeeping services. Additionally, many belong to trusted organizations such as the American Institute of Professional Bookkeepers, setting high standards across the board.
I can’t forget the florist I worked with who chose to hire a “budget” freelancer from an unknown platform. They ended up with financial disarray, proving yet again that vetting your bookkeeper is critical. Reading reviews on platforms like Trustpilot or Capterra is a must when making your decision.
Need more advice? Guidance on how to use content to set yourself up as a thought leader is an invaluable resource when evaluating service providers.
Why Virtual Bookkeeping Works for Startups
With limited budgets and time, startups often lack the resources to hire a full-time team. That’s where outsourced bookkeeping services step in.
Unmatched benefits for startups
- Cost Savings: Spend less on payroll while accessing expert advice on tax prep and inventory management.
- Tailored Financial Insights: Virtual bookkeepers customize their advice to fit your industry niche.
- Time Efficiency: Free up your bandwidth to focus on innovation, product development, or customer service.
The rapid innovation of cloud computing has paved the way for virtual bookkeeping. Forbes noted that this parallel growth means businesses can adopt advanced financial tools without investment-heavy physical infrastructure. If you’re in the early stages of building your company, virtual bookkeepers can help lay the groundwork for scalable growth.
Best Virtual Bookkeeping Platforms
Here are my top picks for bringing efficiency into your business operations:
QuickBooks Online
- Ideal for small businesses and startups.
- Intuitive with extensive reporting features.
Xero
- Seamless third-party app integration.
- Great for collaborative remote accounting.
Wave
- Free for essential features.
- Best for freelancers or solopreneurs with tight budgets.
Still unsure? Start with platforms recommended by the Small Business Administration’s guide to cost-effective accounting solutions.
Conclusion
Virtual bookkeeping has revolutionized how businesses manage their finances. It’s secure, cost-effective, and flexible, making it invaluable for small businesses and startups.
So, what’s holding you back? Partnering with services like Complete Controller empowers you to break free of traditional constraints and focus on growth. Ready to let us handle the numbers while you lead the vision? Visit Complete Controller and take the first step toward transforming your financial management today.
FAQ
Can virtual bookkeeping help small businesses save money?
Yes! Businesses save up to 40% on accounting costs by switching to virtual services.
What are the best platforms for virtual bookkeeping?
QuickBooks Online, Xero, and Wave are among the top choices.
How do I know my financial data is safe?
Choose services with SOC 2 compliance, bank-level encryption, and regular audits.
Is virtual bookkeeping scalable?
Absolutely—bookkeepers adapt as your business grows, adding services like tax prep or payroll when needed.
What sets great virtual bookkeepers apart?
Certifications, glowing reviews, and membership in organizations like the American Institute of Professional Bookkeepers.
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.
