Many businesses outsource central jobs that are not within the staff’s core competencies, and accounting is no exclusion! Virtual accounting is a new trend that allows experienced accountants to offer their services remotely. Businesses across the United Kingdom are taking advantage of this flexible, cost-effective and efficient accounting option so that they can meet their business goals by focusing on their core business.

What is Virtual Accounting?

Virtual accounting is a way or system in which qualified and experienced professionals offer accounting services virtually, rather than working physically at the client's place or client’s office. It is like outsourced accounting. Virtual accounting provides all of the same assistance that the business would get in the case of hiring an accountant, but because the accountant telecommutes and is a contractor, the cost is often less expensive. These services allow for more flexibility for the accounting professionals and for the businesses.

Since the virtual accountant is working remotely, communication is the most important factor in this field, and in order to communicate effectively, your client and you must speak the same language.

1. Understand what your clients want:

It is not just about the need; this is called value capture. An example of a client coming to you with a need would be them asking you to prepare their year-end account. However, what they may want is a particular level of economic progress. Try to discover the client’s values during the onboarding process.

Use this time to accomplish your clients’ expectations. As the virtual format of your business can sometimes lead to misunderstanding, you should be extremely clear about the expectations of the client. There are some outlined things you can do to prevent unrealistic expectations from the start:

• Make it understandable and clear that you highly value fair and open communication.
• Organize an in-person meeting at some point in the process. If this is not possible, make a video conference.

2. Write down the specific items you want to clarify:

For example, about how you work if you are not in the same physical location. Is there any other location where you can interact? Or is there any different terms and condition in case of change of place?

3. Use Phone calls:

Consider using this method for clients who are not tech-savvy or if you know a call will be quicker and more effective. Also, it will save your time and provide clear information in one go only and all the queries will be clear at the time of the call.

4. Implement rhythms and processes:

It requires less administration when a rhythm or process starts guiding things naturally. They keep team members on the same page and enable your practice to run competently.

The process helps team members to know what to expect. These practices eventually become habits, which then turn into the culture. There are some actions one may want to implement:

• Start the conversation with normal talk and can discuss the weather and atmosphere.
• Try to find out the interest area of the client and discuss that, it will provide a comfort level.
• Adding strategy planning to your calendar;
• Reading a book that grows your creativity the same day, each week;

5. Communication is the key to successful remote business:

Because of this, the possibility of good communication between both parties is threatened from the get-go. As such, the virtual accountant or remote accountant must ensure that other methods of communication are satisfactory enough to overcome the absence of the human factor. These methods may include:

• Regular virtual meetings and discussions.
• Clearly written requests and confirmations
• Responding in a timely manner

Conclusion:

Further to this, as in any communication within the virtual accountancy relationship is a two-way street. Both parties must join their “communication responsibilities” in order to ensure a successful outcome. Both the accountant and the client need to aim for a clear and continual message between each other and should act the following advised strategies in order to achieve a good level of communication.

In short, nothing good can come out from poor communication and this applies to working remotely as an accountant and a bookkeeper. Keeping communication clear and consistent between both parties at all times will assure that the choice of failure is about as “remote” as the working relationship itself.

In this field Doshi Outsourcing is a well-known outsourced accounting firm and trusted brand for the last twenty years, providing accounting and bookkeeping outsourcing services. We have the whole dedicated tele-calling department taking taking care of our clients with every possible assistance. Also, we have a training department checking the communication with the client; it helps to reduce the language barrier.