The benefits of hiring a virtual accounting assistant extend beyond the obvious cost savings. You'll be surprised at just what an impact it can have on your business.
In this article, I'm going to cover the following:
- The difference between a bookkeeping virtual assistant and an accounting virtual assistant
- How much does it cost to hire a virtual accounting assistant
- Why hire an accounting virtual assistant in the Philippines
- How to hire an accounting virtual assistant
The difference between a bookkeeping virtual assistant and an accounting virtual assistant
First, a virtual accounting assistant can be both a bookkeeper and an accountant, as they have skills and experience in both areas.
As you know, it's expected that an accountant will do or be able to do bookkeeping, whether that's through Xero, QuickBooks, or any other accountancy software.
However, a bookkeeping virtual assistant is probably unlikely to do all of the work that a virtual accounting assistant would be able to do.
This is because not all bookkeepers can or can do more complex accountancy tasks.
How much does it cost to hire an accounting virtual assistant
It depends where you hire the virtual accounting assistant. If you hire somebody locally in America, you're likely to pay between $3,200 and $6400 per month. Especially when employee-associated costs are factored in.
The good news is you can save as much as 70% of that by hiring a virtual accounting assistant in the Philippines instead. The going rates are $640 to $1,920 per month, depending on the person's experience.
If you've never hired anybody in the Philippines before, then I'd highly recommend you read the article; Philippines outsourcing guide to doing it right.
Why hire an accounting virtual assistant in the Philippines
In addition to the cost savings, their several reasons why hiring accounting VAs makes perfect sense for your business.
English is the official language of the Philippines
If you don't know anything about the country, this might surprise you. The fact is, English is the joint official language of the Philippines, and the USA introduced it during the American occupation of the Philippines (1898-1946).
I don't want to bore you with a history lesson. Still, it's important to emphasize this, as you must understand more about the country if you hire an English-speaking accounting virtual assistant in the Philippines.
- The Philippines was one of the few countries in the world to have been a colony of the USA. (1898-1946), this came about because the USA bought the Philippines from Spain.
- The Philippines are named after King Philip II of Spain. (It was a Spanish colony from 1521-1898).
- Degrees in the Philippines are tested in English. All written exams are in English.
- English is the sole language on road signs, official documents, etc.
- The Philippines constitution and laws are written in English.
The truth is, the Philippines is the perfect country for outsourcing. It ticks all the boxes and has a vast pool of talented and educated young English-speaking population.
How to hire an accounting virtual assistant
You have several options, from hiring locally to hiring somebody in the Philippines. I'll focus specifically on the Philippines because it's my area of expertise and the choice that I think is best for most businesses that want to hire a virtual accounting assistant.
VirtualStaff.ph: The Philippines outsourcing marketplace:
With thousands of Filipino virtual assistants and remote staff to choose from, you can directly hire accountants or accounting VAs on the VirtualStaff.ph marketplace.
It's easy to get started, and for an employer, it's as simple as creating your account, posting a job, and interviewing and hiring the best applicants.
VirtualStaff.ph: Enterprise Solution:
If you want to build a professional outsourced team and hire bookkeepers and accountants in the Philippines, my team can take care of everything for you.
As part of the virtual staff enterprise solution, we will provide you with:
- Talent acquisition - we will find you the best virtual staff)
- Client success manager - have an expert in your corner. Your outsourcing expert is just a message away.
- Legal protections - we onboard the staff with our Philippine company before exclusively assigning them to you.
- Staff monitoring - your client success manager will track the staff's hours and ensure you only pay for their work hours.
- Simple pricing - The price you pay includes staff salary, management fee, payroll, and local and legal compliance.
Frequently Asked Questions
1. What is the difference between a bookkeeping virtual assistant and an accounting virtual assistant?
A bookkeeping virtual assistant handles daily financial tasks such as managing transactions and recording expenses, while an accounting virtual assistant can also perform more complex tasks like preparing financial statements and reports. If you need both services, you may want to hire a bookkeeping virtual assistant with accounting experience.
2. How much does it cost to hire a bookkeeping virtual assistant?
Hiring a bookkeeping virtual assistant in the Philippines is much more affordable compared to local hires. On average, you can expect to pay between $640 to $1,920 per month, offering significant savings compared to the U.S. average of $3,200 to $6,400 per month.
3. Why should I hire a bookkeeping virtual assistant in the Philippines?
The Philippines offers a large pool of skilled, English-speaking professionals at a lower cost. Their strong education system and fluency in English make them an excellent choice for businesses looking to hire bookkeeping virtual assistants.
4. What tasks can a bookkeeping virtual assistant perform for my business?
A bookkeeping virtual assistant can manage daily financial tasks, such as recording transactions, invoicing, managing accounts payable and receivable, and reconciling bank statements, allowing you to focus on growing your business.
5. How do I hire a bookkeeping virtual assistant in the Philippines?
You can hire a bookkeeping virtual assistant in the Philippines by using platforms like VirtualStaff.ph. Simply create an account, post your job description, and interview potential candidates to find the best fit for your business.
6. Can I hire both a bookkeeping and accounting virtual assistant for my business?
Yes, you can hire both a bookkeeping and accounting virtual assistant, depending on your needs. A bookkeeping virtual assistant will handle routine tasks, while an accounting virtual assistant can manage more advanced accounting duties, such as preparing financial reports and tax filing.
7. What are the advantages of hiring a bookkeeping virtual assistant from VirtualStaff.ph?
VirtualStaff.ph offers a streamlined process to hire bookkeeping virtual assistants in the Philippines. You get access to a pool of qualified candidates, and with our Enterprise Solution, you receive additional support like staff monitoring, legal protections, and simple pricing for a hassle-free experience.
