I am going to upset a lot of my fellow accountants with this statement. But the plain and simple truth is most companies do not need a forty hour a week CPA. Most companies require about forty hours of services per month. Technology has made it possible to outsource your company’s accounting needs. The “Cloud” has opened doors for small business that were not possible five years ago.
Some the advantages of the cloud are:
Quick implementation of the process
Applications can be up and running in just a matter of minutes because there is no installation process. Regular upgrades occur automatically without interruptions to your business.
You can access your financial information anywhere.
You may not have to pay for the cost of hardware and the IT personnel to support the software. Vendors can offer their products at a lower cost since there are more customers sharing in the infrastructure. The vendor fronts the cost since it is responsible for maintaining the servers and software.
Vendors have backup systems in a separate data center. You don’t have to remember to backup your data or hire an outside contractor to provide this service.
Some of us are old enough to remember “Dumb Terminals.” It looks like they are making a comeback with the cloud applications. No offense Google, but the Chromebook is nothing more than a portable dumb terminal. All you need is an internet connection. My clients have real on-time access to their financial information. Immediate access to customer balances, inventory levels, and vendor balances. In today’s competitive marketplace, business owners need this extra advantage.
With a virtual CPA, the business owner has access to document sharing and the ability to store scanned documents. Here is how it works.
- You scan your invoices and all source documents.
- These documents are uploaded to your document management system.
- Your Virtual CPA takes it from there.
- The business owner writes checks and makes deposits.
- Monthly, weekly, or daily financial reports are generated.
In addition, cloud computing has leveled the playing field in payroll processing. A new breed of cloud-based payroll solutions eliminates all the headaches associated with payroll processing – tax payments, compliance forms, direct deposit and even printing and mailing of paycheck and reports. Innovative cloud-based payroll solutions do all of these functions for you.
- Send payroll data to the document center.
- Our payroll system performs direct deposit, deposits all required taxes, and electronically files all compliance forms.
- PDF of the paychecks are created. You can log in anytime to download the paychecks and print them.
- Similarly, all reports are automatically stored in our secure document center for easy access 24×7. There is no hassle of printing and mailing paycheck and reports.
In a nutshell, the Virtual CPA gives you corporate-quality accounting services for a fraction of the cost of hiring a new employee (or a bricks & mortar accounting firm). We can meet on the phone, on the Internet or in person, depending on your needs. Complete financial confidentiality from employees of your company. Your business is between us and stays with us.
It is a tough business environment out there, and today’s virtual accountant can help.