| How Much is Employee Overhead Costing Your | | | | education. Because they focus on particular |
| Company? | | | | administrative tasks, they are able to stay current with |
| A virtual office assistant (VOA) can be hired to | | | | trends and regulations. Business owners are then free |
| perform bookkeeping services for small businesses | | | | to spend the cost savings on income-producing |
| anywhere in the world. Virtual office assistants are | | | | activities, rather than paying in-house employees. |
| independent contractors that can provide small | | | | Virtual office assistants providing small business |
| business accountant services via an Internet | | | | accountant duties can work closely with a client's CPA |
| connection. E-mail, fax and instant messaging, enable a | | | | for review of financial statements, required audits, and |
| VOA and business owner the ability to communicate | | | | tax planning. However, most small businesses have no |
| and share information in real time, even though they | | | | need to pay a CPA to provide bookkeeping duties. A |
| are physically on different parts of the globe. | | | | CPA should help a business owner understand |
| Documents can be scanned, faxed, e-mailed or | | | | financial statements for the purpose of analyzing his |
| uploaded to a virtual office assistant. Many people still | | | | fiscal position, tax liabilities, ability to borrow, etc. Paying |
| prefer to use the postal service or an overnight | | | | expensive CPA fees to pay bills and collect |
| shipping service to send physical documents back and | | | | receivables is ludicrous when a small business |
| forth. Most virtual office assistants are willing to work | | | | accountant can provide the same services for half the |
| whatever is most comfortable to their clients. | | | | cost. |
| Because VOAs work with a variety of industries, but | | | | Be sure to confirm exactly which services a potential |
| specialize in specific duties, they can save small | | | | VOA offers. Some small business accountants |
| business owners a tremendous amount of money. | | | | provide all bookkeeping services except payroll. Some |
| Rather than employing an in-house small business | | | | may produce invoices for accounts receivable, but do |
| accountant at $40,000 per year, and providing ongoing | | | | not offer collection services. You should know what |
| training and expenses for office space and equipment, | | | | you need and what is available before hiring anyone. |
| businesses can contract with virtual bookkeepers and | | | | Many small businesses can find a virtual office |
| pay only for the actual time spent on bookkeeping | | | | assistant to manage almost every aspect of their |
| services. | | | | company. Outsourcing administrative and accounting |
| As independent business owners, VOAs provide their | | | | tasks has the potential to save business owners |
| own work space, computer, Internet service, software, | | | | hundreds to thousands of dollars per year. |
| tax liabilities, health benefits, training and ongoing | | | | |