The difference between in-house and virtual bookkeepers

Written by Joanne David

What can be the difference between in-house and virtual Bookkeepers

The definition of a Bookkeeper according to Google:

“A person whose job is to keep a record of the financial affairs of a business”

Is this all a bookkeeper is?

 Bookkeepers have been around since 6000 BC. The role of a bookkeeper has changed so much over the centuries. Bookkeepers are no longer confined to offices, with online bookkeepers now becoming a more sought-after bookkeeping service. The role of bookkeeping is growing, and business owners find that having the company accounts information up to date and on hand is becoming more invaluable to decision-making than waiting till year-end.

Whether it is accountants or business owners, the advantages of having an outsourced service, an off-site bookkeeper, is proving very beneficial.

So what can a Virtual Bookkeeping Service offer compared to an in-office bookkeeper?

There are some differences between Virtual Bookkeeping services and an in-house Bookkeeper, and what differences there are can affect the bottom line.

So let us look at the role briefly. A bookkeeper can sort receipts, update payables and receivables, and inform you about cash flow. This is just a super brief list. As there is so much more, and over time, future blogs will delve deeper into the role of a bookkeeper.

What are the differences, I hear you ask, well a virtual Bookkeeper or online Bookkeeper? Which way you choose to call, the role is not fixed in an office, but some do visit the office, for example, one day a week or whatever was agreed, but are not there five days a week. Desk space and equipment are generally provided whilst they are not a full-time employee. This still has some cost involved that may not be involved in using a virtual bookkeeper as they will already have their own in place.

full or part-time employed bookkeeper

The full or part-time employed bookkeeper needs a desk, equipment and stationery. They also are entitled to full wages, sick pay, holiday pay, SMP and SSP. Whether they are in the office or have been set up as remote employees, all this must be provided by the employer.

Security for the computer against viruses, cost of computer repairs, insurance etc., will be down to the business. For some businesses, this is not cost effect use the money. For example, funds will not be freely available in the early stages of building a business.

The Virtual Bookkeeper

A Virtual Bookkeeper, as I said earlier, will already have the equipment, space and protection in place, plus they will have all their own stationery.

It will not cost you as a business there. Only pay for the package needed for the bookkeeping services required and agreed upon.

In some cases, it can cost less than having a full/part-time in-house bookkeeper, and as the business grows, you may decide that in-house or remote is the way forward.

Many virtual bookkeepers are also growing their skills and moving towards some of what accountants do, but for a client, be available monthly and not just at the end of the year.

The conclusion

When I was an in-house bookkeeper waiting for paperwork, etc., there was downtime and twiddling my thumbs. It got boring sometimes, and it bothered me as this was not the most effective use of my time or cost-effective, but only some have this experience in an office environment. Now I am fine as I get to manage my own time.

Don’t get me wrong, I love being my own boss, helping other like-minded business owners build and grow plus learning a different way to work, but I now fully appreciate all the hard work that goes into running a business and the different areas that all have to have attention to, like marketing ( hence why I am writing a blog), and how hard it can be to stand out from the crowd.

I hope this article has given you a better insight into the differences between in-house and virtual bookkeepers.

Till the next blog

If you are interested in finding out more or want to see what I could do for you, please click here

Virtual Bookkeeper Joanne David

Joanne David

Joanne David has been running her own business for 5 years and has over 15 years experience in bookkeeping.  From September 2023 has added another branch to her tree and now includes Chapter Foundations for bookkeeping, marketing and business strategy.

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The information contained above is provided for information purposes only. The contents of this article are not intended to amount to advice, and you should not rely on any of the contents of this article. Please research and Professional advice should be obtained before taking or refraining from taking any action as a result of the contents of this article. Joanne David and Chapter Bookkeeping disclaim all liability and responsibility arising from any reliance placed on any of the contents of this article.

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