| I get this question asked quite a bit as many small | | | | invoice. For monthly invoicing, a master invoice |
| business owners just don't like bookkeeping or | | | | template can be set up with the client filing in the |
| don't have the time. I can tell you that virtual | | | | necessary information and then emailing to the |
| bookkeeping can be done pretty easily but it does | | | | bookkeeper for completion. The virtual |
| depend on what system you have in place and | | | | bookkeeper can prepare and either mail or email |
| how comfortable you are with delegating to your | | | | the invoice on your behalf. The virtual bookkeeper |
| virtual bookkeeper. | | | | can also help you in keeping close tabs on your |
| The first consideration: | | | | accounts receivable. |
| 1. Accounting Program. If you are using | | | | 3. For those of you who have online banking, it is |
| QuickBooks, Peachtree or any other accounting | | | | very easy to use a virtual bookkeeper. There are |
| software, you need to make sure that your | | | | a couple of ways this can be done - you can |
| version is the same as the virtual bookkeeper. | | | | download your bank activity weekly, bi-weekly or |
| Most accounting programs will allow you to | | | | monthly and email the information to the |
| restore a file from either the same version or | | | | bookkeeper for entry along with the monthly |
| version below (QuickBooks Pro 2009) but then | | | | bank statement when it is available. |
| you would not be able to restore the file back | | | | For those of you who have had a long, |
| down to your version (QuickBooks Pro 2008). | | | | established relationship with your bookkeeper, you |
| Most QuickBooks ProAdvisors do have multiple | | | | can assign access to them through your bank, |
| versions of QuickBooks on their computers. I | | | | and they would then be able to log in and |
| personally have clients still using much older | | | | download the transactions and bank statements |
| versions and they have opted not to upgrade | | | | themselves. You can also email your bookkeeper |
| because the version just works fine for them. | | | | vendor invoices with suggested payment dates |
| 2. Another option is QuickBooks Online. | | | | and the bookkeeper can set up the vendor for |
| QuickBooks online allows 3 users to access the | | | | payment through your online bank account. |
| account (business owner, bookkeeper and | | | | Lastly, finding a virtual bookkeeper. You can |
| accountant). What is nice about QuickBooks | | | | certainly contact your accountant and ask if they |
| Online, is you do not need to purchase software | | | | can recommend a bookkeeper to help with your |
| each year and the file is backed up on the Intuit | | | | monthly transactions. Many bookkeepers do work |
| server every day. You can also access the file | | | | closely with their client's accountants. Throughout |
| from anywhere you have computer access - | | | | the year I am sending QB files for quarterly or |
| from your home office, if you travel frequently - | | | | six review for tax planning discussions that my |
| from the hotel, or even review the file directly | | | | clients have with their accountant. Another idea |
| from your accountant's office. The QuickBooks | | | | would be to ask other business owners that you |
| Online version is different than the desktop | | | | know and ask them who assist's them with their |
| version but if you just use QuickBooks for | | | | bookkeeping. |
| invoicing and entering payables, this method will | | | | 1. Intuit (makers of QuickBooks) has an online |
| work fine for you. If you are thinking about using | | | | database of their Certified QuickBooks |
| QuickBooks online, please discuss with your | | | | ProAdvisors you can find at Intuit's website. You |
| QuickBooks ProAdvisor and they can explain the | | | | enter your zip code and a list will show the |
| different packages available as well as help set up | | | | Certified ProAdvisors in your area. To become a |
| your account. The monthly fee is between $9.95 | | | | QuickBooks Certified ProAdvisor you must take a |
| - $34.95 depending on what package you select | | | | test each year on the most recent edition of |
| and keep in mind that most QuickBooks | | | | QuickBooks. It is an online test and can take up to |
| ProAdvisors do pass on their discounts to their | | | | 16 hours to complete. |
| clients. | | | | 2. Another recommendation is to find someone |
| 3. You can also use remote access sites such as | | | | who is a Certified Bookkeeper. There are two |
| logmein, gotomypc or pcanywhere where the | | | | organizations that offer certification programs for |
| virtual bookkeeper can log into your computer, | | | | bookkeepers and they are the American Institute |
| access your QuickBooks file and update as | | | | of Professional Bookkeepers (AIPB) and the |
| needed. The only problem with using this method | | | | National Association of Certified Professional |
| is it will prevent you from using your computer at | | | | Bookkeepers (NACPB). With both organizations |
| the same time as the bookkeeper and usually the | | | | you need to obtain CE credits throughout the |
| entering transactions can take a little bit more | | | | year in order to attain your certification. In |
| time due to type of internet connection you have. | | | | addition, NACPB provides the nation's leading |
| The second consideration: how do I get the | | | | bookkeeper licenses. NACPB bookkeeper licenses |
| information to the bookkeeper. There are a few | | | | assure small business and nonprofit organizations |
| ways to handle this and again it will depend on | | | | that NACPB licensed bookkeepers are trusted and |
| what process works best for you and the | | | | competent bookkeepers. |
| bookkeeper. | | | | 3. The International Virtual Assistants Association - |
| 1. Set up a file folder for each month of the year | | | | a non-profit organization with over 1,200 |
| - January through December. Throughout the | | | | members is another association where you will be |
| month, insert your credit card receipts, vendor | | | | able to find well-qualified bookkeepers or certified |
| bills, and cash outlays into the appropriate file | | | | bookkeepers. They have an RFP area where you |
| folder. When the bank statement is received, you | | | | can post your job requirements and members |
| can then send the file folder to the bookkeeper | | | | who match those qualifications will respond to |
| via Priority Mail, Express Mail, FedEx or UPS. Once | | | | your RFP. |
| the bookkeeper receives the file, the credit card | | | | These are just a few of the methods that can |
| charges are entered into the accounting program | | | | be used when working with a virtual bookkeeper. |
| and the statement reconciled along with your | | | | There are also other processes that can be used |
| business bank accounts. For this method, most | | | | which I did not cover. It is important that when |
| clients do pay their vendor bills and send the | | | | you are interviewing for your virtual bookkeeper, |
| check stubs to the bookkeeper for reconciling. | | | | that you both decide on what process will work |
| Once the reconciliations have been completed, the | | | | best for both yourself and the bookkeeper. Of |
| bookkeeper will email you the monthly financial | | | | course, when you start working together, you |
| reports (Profit & Loss, Balance Sheet) and | | | | may find that emailing your QuickBooks file is just |
| mail back to you all the receipts, which have now | | | | too cumbersome and you may then elect to use |
| been attached to the appropriate statements | | | | QuickBooks Online or one of the remote access |
| (bank or credit card) for filing. | | | | programs. It will certainly be the task of the |
| 2. For client invoicing, you can email, fax or mail | | | | bookkeeper to find the process that will work the |
| the information needed for preparing the client | | | | best for you. |