Looking to hire an Accounting Virtual Assistant?
You came to the right place!
My name is Connor Gillivan. I’m an entrepreneur and I currently run a portfolio of three companies (Outsource School, EcomBalance, and AccountsBalance).
In 2019, I exited one of my companies, FreeUp, and all of our bookkeeping and accounting was handled by our team of accounting virtual assistants.
In this article, we’ll dive into everything you need to know about accounting VAs.
Here’s what we’ll cover:
- What Is An Accounting Virtual Assistant?
- What Tasks Can An Accounting VA Handle?
- What Skills Do Accounting Virtual Assistants Have?
- Where Can You Hire VAs for Bookkeeping and Accounting?
- Case Study: How An Accounting VA Made Sarah’s Business Double Sales
Let’s get into it!
What Is An Accounting Virtual Assistant?
An Accounting Virtual Assistant is a professional who remotely provides accounting and bookkeeping services to businesses.
They are experienced in managing financial transactions, reconciling accounts, preparing financial statements, and performing other accounting tasks.
They use various accounting software, like Quickbooks Online and Xero, and tools to ensure that your business finances are in order and your books are accurate.
Hiring an Accounting VA can be a cost-effective solution for small business owners who need help with their financial tasks, but do not have the budget to hire a full-time accountant.
If you’re looking for someone to handle your basic bookkeeping and financials for a low rate ($250 to $500 per month), an accounting virtual assistant may be a good fit.
If your business is larger than $500,000 in yearly revenue, we recommend you look to a bookkeeping and accounting service like EcomBalance or AccountsBalance.
Here’s a video to explain accounting and bookkeeping VAs even more:
What Tasks Can An Accounting VA Handle?
Here’s 10 common tasks that an accounting virtual assistant could take off your plate:
- Managing accounts payable and accounts receivable
- Reconciling bank statements and credit card statements
- Preparing and submitting invoices
- Managing payroll and processing employee payments
- Preparing financial statements and reports
- Managing and filing taxes and compliance documents
- Tracking expenses and preparing expense reports
- Managing cash flow and forecasting
- Auditing financial records
- Maintaining accurate financial records and data entry.
These are the 10 most common tasks, but you may have more unique accounting and finance-related tasks that you want an accounting VA to handle.
As long as it’s within the realm of accounting and bookkeeping, an experienced accounting VA should be able to handle it for you.
Just keep in mind that the rate you pay will determine how experienced the accounting VA is.
The more you are willing to pay, the better experience and knowledge you’ll get. Similarly for the less you’re willing to pay.
What Skills Do Accounting Virtual Assistants Have?
Accounting virtual assistants should have a range of skills and experience in order to effectively manage your business finances.
Here are some key skills to look for:
- Accounting and bookkeeping experience, specific to your industry
- Knowledge of accounting software such as QuickBooks, Xero, and FreshBooks.
- Understanding of tax laws and compliance regulations
- Attention to detail and accuracy in financial reporting
- Excellent communication skills, both written and verbal
- Time management and organization skills to manage multiple tasks and deadlines
- Analytical skills to interpret financial data and identify trends
- Problem-solving skills to troubleshoot financial issues
- Experience in accounts payable and accounts receivable
- Ability to work independently and remotely.
Other important things to look for when interviewing:
- That they can work on your time zone (if that’s important)
- That their pay rate aligns with your budget
- That they have relevant experience in your industry
- That they aren’t working for multiple clients at once
- That they have good reviews online
Bottom line: You want your accounting VA to know much more about bookkeeping and accounting than you do.
Hire someone that is passionate about accounting and bookkeeping and that you’ll be able to trust with your books and finances.
Where Can You Hire VAs for Bookkeeping and Accounting?
Having hired from lots of sites online before, here are 6 that we vouch for:
- Upwork – This is a freelance marketplace where you can find Accounting VAs from all over the world.
- Onlinejobs.ph – This is a job board specifically for virtual assistants based in the Philippines, which is known for its large pool of highly skilled and affordable VAs.
- Fiverr – This is a freelance platform where you can hire VAs for various services, including bookkeeping and accounting.
- FreeUp – This is a platform that specializes in connecting businesses with top-notch freelancers, including Accounting VAs.
- Virtual Latinos – This is a platform that connects businesses with bilingual virtual assistants based in Latin America, including accounting and bookkeeping VAs.
- Hubstaff Talent – This is a free job board where you can find VAs from around the world, including those with accounting and bookkeeping experience.
Tip: Make sure to carefully review their qualifications, work history, and reviews from previous clients to ensure they have the skills and experience necessary for your business needs.
Case Study: How An Accounting VA Made Sarah’s Business Double Sales
Meet Sarah, a small business owner who runs a successful e-commerce store.
Despite her success, Sarah was struggling to manage her business finances on her own.
She was spending hours each week reconciling her accounts, preparing invoices, and managing her cash flow.
She knew she needed help, but didn’t have the budget to hire a full-time accountant.
Hiring An Accounting VA
Sarah decided to hire an Accounting Virtual Assistant from an online platform.
The VA had years of experience in bookkeeping and accounting and was familiar with the accounting software Sarah was using.
After an initial consultation, the VA created a customized plan to manage Sarah’s financial tasks.
The VA took over all of Sarah’s accounting tasks, including managing accounts payable and receivable, reconciling bank statements and credit card statements, and preparing invoices.
She also started providing financial reports on a weekly basis, which gave Sarah a better understanding of her cash flow and helped her make informed business decisions.
As a result of hiring the Accounting VA, Sarah was able to focus on growing her business and doubling her sales.
With more time to focus on her marketing and customer service efforts, Sarah’s business started to thrive.
In addition, the VA helped Sarah identify areas where she could save money, such as renegotiating contracts with suppliers and reducing unnecessary expenses.
This helped Sarah increase her profit margins and reinvest in her business.
Overall, hiring an Accounting VA was a game-changer for Sarah’s business.
It allowed her to focus on growing her business and provided her with the financial support she needed to make informed decisions.
What Is Outsource School?
Outsource School helps you to unlock the potential of virtual assistants and accelerate your business growth.
This is the exact system Outsource School’s founders, Nathan Hirsch and Connor Gillivan, used to go from zero to 8 figures and 40+ virtual assistants with an exit in 2019.
Since being founded in 2020, Outsource School has helped 1,000+ business owners hire 2,000+ virtual assistants for their companies.
Schedule a free sales call to learn more
Free resources you might like:
- Outsource School Case Study: How We Scaled to 45+ VAs and 8 Figures in Revenue
- Free VA Calculator | See How Many VAs You Can Afford
- Free Training on 5 Keys to Working With VAs
- Learn Outsourcing 101 | Guides, Downloads, and Checklists
If you’re smart, you’ll outsource your bookkeeping and accounting to a virtual assistant or an online bookkeeping service.
If your budget is low and you really need help getting accounting and bookkeeping off your plate, an accounting virtual assistant can be the best decision as you continue to grow.
If you’re overworked, stressed, and sick of handling your own finances, take the leap and hire an accounting VA.
If you need help hiring an accounting or bookkeeping VA, we can help you through Outsource School.
We have a course within Outsource School specifically tailored to hiring and implementing an accounting and bookkeeping virtual assistant.
If you’re interested, reach out to us at Support@OutsourceSchool.com or set up a call with us through the link on this page.