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Virtual Bookkeeping vs Traditional Bookkeeping


GritForce Virtual Bookkeeping

As a small business owner, there are so many benefits to bookkeeping. Bookkeepers can help you be audit-ready for any time of year, you’ll have a trustworthy advisor that is up-to-date with tax rules and changes, and most importantly you can focus on your small business without being bogged down by bookkeeping.


Now that you’ve decided to outsource your bookkeeping, it’s time to decide if you want to go with virtual or traditional bookkeeping. Both virtual and traditional methods involve accounts receivable, accounts payable, payroll, inventory, and account management. They will track cash flow and income, and the expenses for salaries, inventory, marketing, etc., then using that, can help you make a forecast and business plan, as well as file your taxes.


Differences Between Virtual and Traditional Bookkeeping


Traditional bookkeeping has the bookkeeper in-house. This involves the process of seeking out potential hires, interviewing people, hiring someone, then training them as your bookkeeper. After hiring them, they become an employee just like any other, requiring you to manage and pay them a salary. They have a physical office in your business where all your records and books are kept.


Virtual bookkeeping is entirely different. How it works is you choose