The Outbreak Continues
We’re now three months or so into the Covid-19 outbreak and it’s starting to take its toll. Depending on where you live, you may have seen state governments impose lock-down orders and quarantine laws. Even if the states haven’t done this, maybe you’ve had your local business alter its operating hours and staffing policy for the safety of your customers and employees. It’s looking like the federal government may attempt to open things up again soon, but that doesn’t mean everybody’s going to immediately start going to stores again. If this has created problems for you, you may want to consider virtual bookkeeping to help keep your records straight.
What Is Virtual Bookkeeping?
Dragon Financial, a bookkeeping and accounting agency based in Portland Oregon, talked to us about the concept of virtual bookkeeping and how they’ve used it to help small businesses in their area keep on top of things.
Virtual bookkeeping is, as the name implies, using virtual and digital tools to keep your financial records straight. With the economy in an outbreak induced slump, money is tighter than ever, but illness is making it hard for a lot of businesses – especially small, local businesses – staffed properly. This is a bad combination, because it can lead to mistakes in bookkeeping.
How Virtual Bookkeeping Helps
Virtual Bookkeeping basically means you take everything online. The internet is a fantastic tool and it allows us to do a lot of work without needing to actually go into the office. If your work can be done on a computer, it can be done from home. This includes bookkeeping and accounting.
The best part is, if you find the outbreak has left many of your accountants unable to work, virtual bookkeeping is a great way to cover for them. You can easily find firms willing to take up the slack while your staff recovers. You can hire people to take up payroll management, help make sure your business to business expenses are taken care of on time, and still do consulting through streaming services like Zoom or Team Viewer.
Now More Than Ever
With the economy in its current shape and many people being afraid to buy, managing money is more important than ever. The budget needs to be balanced and people need to be paid. If your financial records get disorganized due to a lack of staffing, it creates a terrible mess down the road. For small, local businesses, these kinds of mistakes are costly and might put you at risk of needing to shut down, or declare bankruptcy.
Virtual bookkeeping can help you avoid that. Whether it’s letting your financial department work from home to avoid getting sick, or hiring temporary staff to help cover for people who get sick, it can help you keep organized in these trying times. It can avoid headaches now, and prevent more serious problems from cropping up in the future.
Hopefully, we’ll soon be getting some respite from this outbreak and can start getting things back on track. Until then, everybody stay safe.