Saving money is always the goal for any smart business, and there hasn’t been a time in recent memory when sticking to tight budgets has been more important. Given the current realities of the pandemic, the ‘Great Resignation,’ and our increasingly competitive markets, making good financial decisions has never been so make-or-break.
From helping you set up a smart budget and understand your financial statements, to measuring the right KPIs and helping founders make the right decisions and avoid burnout, there’s really no question that you need a financial expert on your team. You can’t separate out sound business decisions from sound financial decisions.
Of course, especially if you are a small company or new startup, then hiring a full-time, in-house CFO or financial advisor may simply not be in the cards. The solution? Take your finances online—because there are so many money-saving benefits to taking your accounting virtual.
The Money-Saving Benefits of Taking Your Accounting Software Virtual
It’s 2022. That means it’s time to take your accounting virtual.
Specifically, that means you should be using cloud-based accounting software, because it is an affordable and accessible option that is often more user-friendly and sustainable.
When you choose the right software, it will still be powerful enough to help your company grow. Moreover, cloud-based software is something you can access anywhere you have Wi-Fi. That means you don’t need to pay for a hard drive, and all the related expenses that go along with it, leading to even more money-savings.
We love working with Xero, because it’s online accounting software that is easy for our clients to use (among many other great features).
Otherwise, we have the following recommendations, based on your company’s size and goals:
- Cloud-Based Accounting Software for Small Businesses
- Cloud-Based Accounting Software for Medium-Sized Businesses
- Cloud-Based Accounting Software for Large Companies
The Money-Saving Benefits of Taking Your Accounting Services Virtual
Online accounting software is great, but it only goes so far. You still need someone who knows how to use it to guide better financial decisions for your organization. For example, do you need employees or contractors? Do you need to hire new staff? Is it time to incorporate your business – and if so, how will you go about doing that?
And of course, we haven’t even touched on paying tax installments, understanding net income vs EBITDA, or understanding any of the other complex questions about cash flow and paying your taxes properly.
In other words, no company can succeed without a financial expert on their side. But of course, paying a full time CFO or comptroller can get expensive, fast.
That’s why you should take advantage of the money-saving benefits of virtual accounting services! When you are a startup or smaller company with tight finances, it usually makes so much more sense to work with a part-time Chief Financial Officer or Controller who manages the finance and accounting function of a business virtually.
You still get all the bookkeeping, financial reporting, strategic planning and cash management you need—but at a level and price that makes more sense for your current reality.
We’re committed to helping you build a strong financial foundation that will let you scale your business. We are a CPA registered accounting firm, but our services are a bit different than your average firm. Our focus is on assisting companies with the operational and reporting side of accounting on a monthly or weekly basis, not an annual one. We keep a working relationship with our clients and act as their virtual finance team so that all aspects of their accounting cycle and reporting are taken care of each month.