Remote work has become increasingly popular in recent years, and the COVID-19 pandemic has only accelerated this trend. This has had a significant impact on outsourced bookkeeping services, as CPAs and accounting firms can now outsource their bookkeeping needs to providers located all over the world.
Benefits of Remote Work for Outsourced Bookkeeping
There are a number of benefits to outsourcing bookkeeping services to remote providers.
- First, it can save CPAs and accounting firms money on labor costs. Remote bookkeepers typically charge less than in-house bookkeepers, and CPAs and accounting firms can also save money on office space and other overhead expenses.
- Second, outsourcing bookkeeping services to remote providers can give CPAs and accounting firms access to a wider pool of talent. They are no longer limited to hiring bookkeepers who live in their local area. Instead, they can hire bookkeepers from all over the world, which can help them to find the best talent for their needs.
- Third, remote bookkeeping can be more flexible than in-house bookkeeping. Remote bookkeepers can work from anywhere in the world, so CPAs and accounting firms can hire bookkeepers who are available to work during their preferred hours. This can be especially beneficial for CPAs and accounting firms that have clients in multiple time zones.
Challenges of Remote Work for Outsourced Bookkeeping
While there are a number of benefits to outsourcing bookkeeping services to remote providers, there are also some challenges that CPAs and accounting firms need to be aware of.
- First, it can be difficult to find a reputable remote bookkeeping provider. There are a number of fly-by-night providers out there, so it is important to do your research before choosing a provider.
- Second, it can be challenging to communicate and collaborate with remote bookkeepers. This is especially true if the bookkeepers are located in a different time zone. It is important to establish clear communication and collaboration protocols with your remote bookkeepers.
- Third, CPAs and accounting firms need to be careful to protect their data security when outsourcing their bookkeeping needs. They should make sure that their remote bookkeepers have adequate security measures in place, and they should also have a plan in place in case of a data breach.
How to Overcome the Challenges of Remote Work for Outsourced Bookkeeping
Here are some tips on how to overcome the challenges of remote work for outsourced bookkeeping:
- Do your research. Before choosing a remote bookkeeping provider, be sure to read reviews and compare pricing. You should also ask the provider about their security measures and their communication and collaboration protocols.
- Set clear expectations. Once you have chosen a remote bookkeeping provider, be sure to set clear expectations for the work that they will be doing. This should include things like their work hours, their communication style, and the reporting that you expect from them.
- Use cloud-based accounting software. Cloud-based accounting software makes it easy to collaborate with remote bookkeepers. It also provides real-time access to financial data, which can improve decision-making and reporting.
- Implement security measures. CPAs and accounting firms should implement security measures to protect their data when outsourcing their bookkeeping needs. This should include things like using strong passwords, encrypting sensitive data, and having a plan in place in case of a data breach.
Conclusion
Outsourcing bookkeeping services to remote providers can be a great way for CPAs and accounting firms to save money, gain access to a wider pool of talent, and increase their flexibility. However, it is important to be aware of the challenges associated with remote work and to take steps to mitigate them.
By following the tips above, CPAs and accounting firms can successfully outsource their bookkeeping needs to remote providers and reap the benefits that remote work has to offer.
If you are a CPA or accounting firm that is considering outsourcing your bookkeeping needs, it is important to choose a provider that has experience working with CPAs and accounting firms. A CPA bookkeeping services provider will understand your unique needs and will be able to provide you with the services and support that you need.
