- Less paperwork, more productivity:
Keeping track of paperwork and maintaining physical books can be challenging and time-consuming. Since virtual accounting firms only keep digital copies of your records, they provide significant benefits for your data retention requirements. You can easily access your documentation and run any reports in real time without the need to retain physical copies of these documents.
Since sensitive financial information is often stored in the cloud rather than in traditional filing cabinets, or servers located in a physical office, information is more secure. Access to cloud storage systems is heavily encrypted and backed up across multiple locations.
- Timely access to financial data:
With the use of cloud accounting software, virtual accounting firms are giving you real-time access to business accounting records. In fact, platforms like Quickbooks or Xero, allow both virtual accountants and their clients to collaborate on their accounting records without being present in the same city.
With lower overhead costs, virtual accounting firms offer the same level of services at a lower price, than traditional firms. As a result, you benefit from the same high quality accounting and tax services at a much lower cost.