If you’ve heard of Virtual Assistants and understand the concept, then Virtual Bookkeeping/Virtual Accounting is not too far from that.  The main difference is the area of specialization – instead of administrative tasks, the tasks outsourced are of a bookkeeping and accounting nature.

Who should care about virtualization?  YOU, Mr & Ms Small Business Owner.  Why should you care?  LEVERAGE.  Outsourcing to a service provider can give you the leverage, the leg up that you need and help put you on equal footing with bigger companies.  Think about it, big businesses have been doing it for years (leveraging and centralizing their resources).  Big businesses may have satellite locations all over the state, all over the country, all over the world but they have a centralized location that handles certain “global” business functions such as marketing, advertising, and accounting at the “corporate office”.

So what’s the difference between outsourcing (small business) and centralization (big business)?  To be honest, if you give it some thought and consideration, there isn’t much difference at all – except the numbers – the number of people employed and the dollars available to spend.  How can you leverage and use this big business model of operations to your advantage as a small business owner?  Use economies of scale.  Think about it…it’s less expensive to share an accounting department with other small business owners than it is to create, manage and maintain one in-house.   When you hire a virtual bookkeeping and accounting service provider, that’s exactly what you’re doing – sharing an accounting department with other small businesses.  And, let’s take it one step further – in most cases, hiring a service that will function as an ENTIRE department is less expensive than employing ONE bookkeeper!  Providing you with MORE experienced professions for LESS money…more bang for your buck, talk about LEVERAGE.  Don’t believe me?  Give me a call and I’ll SHOW you the numbers…

Agree?  Disagree?  Have questions?  Post a comment…I look forward to hearing from you and reading your comments.

Image Credit: Filomena Scalise/FreeDigitalPhotos.net

 

About The Author

Joyce M. Washington is a Certified Public Accountant & Business Strategy Coach who teaches consultants, coaches and creatives how to go beyond the numbers and grow their businesses.

Visit her at: TheCommonCents.com to grab 7 Steps To Better Books or come chat with her at The Cents Community on Facebook.

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