Virtual Accounting: Tax Difficulties Solved!

Today small & medium enterprises are becoming more and more virtual and Virtual Accountants strive to become true trusted advisors for their clients.

A virtual accounting firm not only reduces overhead costs but also helps businesses focus on growing their client base and in the process, pass significant benefits to SMEs.

For many businesses, tax season is one of the dreaded times of year, because tax time can be a stressful time – at least for most start-ups.

But with savvy virtual accountants, small business owners' tax season doesn’t become a pull-your-hair-stomp-your-feet-curse-like-a-sailor time of year. It's like any other day, week, or month.

Not only can virtual accountants save time during tax season, but can also streamline the paperwork and make filing taxes as easy as any other business process. Thereby saving BIG money.

Here’s how virtual accountants can help businesses with their company taxes:

Delegating Bookkeeping to a Virtual Accountant

Bookkeeping is tedious, even with the help of the latest and greatest accounting software. Handing over accounting software management to a Virtual Accountant to get things straightened out and accounts paid, as soon as possible, so everything is balanced and beautiful

Sort Out Payroll

For many small business owners, sorting out payroll, employee tax forms and contributions, and other personnel files is a necessary hassle. Getting payroll issues sorted from a Virtual Accountant helps in handling all employee-related issues, all year long.

Organize Accounts Receivable & Accounts Payable

Hiring a Virtual Accounting firm, like Global FPO with extensive experience in bookkeeping can prove to be the best choice for the day-to-day accounting a company requires. We’ll act as your accounts receivable and accounts payable clerk throughout the year, helping you sort a growing pile of invoices and receipts

Run an Internal Audit

The beauty of a Virtual Accounting firm, like Global FPO, is that Businesses can run An internal audit of the company’s current financial practices with set standards, and verify assets and liabilities, before the rush of tax season.

Also Read: COVID-19: Virtual Accounting Preparedness

Bonus: Coordinate with Your Tax Accountant or CPA

To save some money during tax season, let the Virtual Accountant carry out simple bookkeeping and record-compilation, instead of an in-house CPA (For example, Global FPO charges $16 and an in-house accountant charges $125 an hour, you’ll save over $100 an hour by delegating to us. That can amount to a healthy saving during tax season!)

To know more. Please call us at +1 (347) 781 5928 or send us an email at contact@globalfpo.com.

If you are looking for a Remote Accounting Services Firm, Contact us here to get a free consultation and quote.