Using a virtual or paperless bookkeeping system decreases the number of errors that result from erroneously keying in the data and saves a significant amount of time during data entry.
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Because the bookkeeper always has access to the statements and invoices they need, it causes the client's books to consistently be more up to date. They are not dependent on a preoccupied business owner to locate and send them those receipts.
Profit and loss statements that are current and correct
By using virtual bookkeeping, a business owner may better manage their costs and profitability and make adjustments throughout the year to have an impact on them. When compared to traditional bookkeeping, virtual bookkeeping offers far greater transparency and insight into the firm because the client has access to the books via the web or a mobile app. Some clients might not see a profit and loss statement from traditional bookkeeping until the end of the year. Monthly profit and loss statements can be easily provided with virtual bookkeeping at very little extra cost.
Virtual bookkeeping also allows you to work with bookkeepers who are outside of your immediate vicinity. This means that you can find some very talented bookkeepers at a reasonable cost because they work from home far away from big cities.