Post-pandemic, the majority of the large organization continue to work remotely by benefitting from online and remote accounting services. Given how easily one can access the best accounting services at an affordable cost while achieving solid ROI and accounting performance, remote accounting has become the go-to for SMB entities looking to recover and grow post-pandemic.
Remote accounting services are going to flourish and are going to play a significant role in helping business improve their accounting performance. So it is for accounting firms to establish a robust remote accounting model and adopt best practices to cater to increased demand in the market; if you are an accounting firm aiming for the same, they this blog is for you.
As one of the best back-office accounting firms in the market, Outsourced Bookkeeping has been providing remote accounting services for small, medium and large businesses for years now. And in today’s blog, we are going to provide the best remote accounting practices that can help any accounting firm lay a strong foundation for providing remote accounting services. These remote accounting practices may also help businesses aiming to adopt remote accounting services and extract the maximum value of them. So read on:
1. Invest in Infrastructure: If you are building a remote accounting team, then the first thing your business can do to set up an infrastructure that can strongly support your remote accounting services. Physical, technical and communication technologies form the pillars for remote accounting services. While basic physical infrastructure is taken care of, firms must firms businesses must focus on suitable communication, collaboration and organization tools that can help teams work in sync with each other.
2. Automate your manual process: Automation is what makes remote accounting possible and it’s high time you equip your team with essential automated accounting technologies that override manual processes. OCR with AI, Automated Accounts Payable and receivable systems, reconciliation tools are the most commonly used technology stack among remote accounting firms. Look into the cloud accounting software and tools that can help you automate your regular accounting functions. Focus nifty features like chat tools, online documents systems that can help improve collaboration among team members.
3. Adopt Advanced Security Measures: With automation being the key to remote working, cyber security is more important than ever. Given the high volume of sensitive information an accounting firm or a business has at hand, one must do away with regular commercial applications and should beef up their system with advanced security measures.
As employees work remotely, a firm or a business must follow the robust security protocols to ward off potentials attacks and data breaches. Furnishing your employees with a laptop and secure VPN can be the first step in adopting the right security measures. But in few cases that may not enough too. The unsecured Wi-Fi access in public networks still pose threat to remote working. In such cases, encryption can help. Also, employees must make sure they back up the data every day to ensure it is comfortable retrieved in case of emergency.
4. Support Infrastructure for Productivity: The most ignored aspect of any remote working time, even more so in accounting is the support infrastructure. Remote working can be isolating without adequate team support and well-thought team building sessions. At Outsourced Bookkeeping, we have a daily and weekly check-in with our team members to touch base on our project’s progress. Whole team meetings with Zoom, training sessions and get-to-know sessions are even more important for any accounting firm looking for long sustainable progress.
Remote accounting will continue to flourish even after the pandemic and accounting firms need to lay a strong foundation as soon as possible. Remote accounting is as much as beneficial if not more for accounting firms to aims to provide accounting services for clients around the world. They get access to the best accounting resources to expand their services and serve clients to improve their performance. And every accounting firm that aims to build a remote accounting team for themselves must make sure to follow all the above best remote accounting practices to provide sustainable long term remote accounting services.
However, not all accounting firms need to build remote accounting teams to expand their services and serve more clients. Accounting firms can also accrue all the benefits of remote accounting by outsourcing their accounting requirement to established remote accounting firms like Outsourced Bookkeeping.
With years of experience in providing back-office accounting services to all types of businesses, Outsourced Bookkeeping boasts an excellent track record in providing Bookkeeping, Accounts Payable, Accounts Receivable, Tax preparation and all types of accounting services. For more information on our services, contact us here: https://outsourcedbookeeping.com/