Introduction to Virtual Accounting
With the current circumstance of the world today, almost half of the workforce has been affected. Many have resorted to using the online and virtual world to still continue with their work. We are in a time when everything that seemed practical a year ago is nothing practical right now.
Lucky for some, there are careers that are flexible for both physical meetings and virtual ones. Take an accountant for example. Their career is not only flexible but also it’s in demand with the current situation we are in right now.
Business owners would want to bring in one to keep track of how their business profits are doing. Regular accountants are very much eligible to become Virtual Accountants as they exactly do the same job.
The only problem with this transition is the additional tools you need to learn about. Most of these tools are used by Virtual Assistants for organizing works. And also for the advantage of the employee and the client, there are certain tools to keep track of the works.
Virtual Accounts as a job have been added to outsourcing platforms and their annual salary goes to $58,000 on average. We’ll talk more about the reasons why it’s ideal and practical to become a virtual accountant at this time and circumstance.
6 Reasons Why Becoming A Virtual Accountant Is Ideal and Practical
1. High Productivity
Why does being a virtual accountant mean high productivity? Well like all other virtual jobs out there, you only have to stay at home and work. Normal days you would be busy preparing for what dress to wear that would take up some time. And also with transportation, you need to spend your time on transportation on normal days. But when you work at home, as long as you make sure to keep your schedule, you can do many things after doing the work quickly.
After doing the task you’ve done for your client, maybe you could finally take care of the laundry or clean the house and have time to relax on the weekends.
What flexibility pertains here is time flexibility. You don’t need to force yourself to wake up early in the morning as you get to decide when to log in, as long as you keep in mind to fulfill the hours needed for you to work and have diligently finished the task given.
If you are required to work for four hours, you can think of organizing your schedule to work on that entire time, and then you are free for the rest of the remaining time.
3. Lower Expenses
If you remember clearly what was said with reason number one, when you work as a Virtual Accountant, you don’t have to leave home which also means you don’t have to spend your time on your commute as well.
You can rest assure that you won’t only be saving time here, but also you save your money intended for the commute. This also goes with the money you spend on eating at restaurants as some would be able to cook for themselves, but of course, this reason doesn’t always go with everyone.
Some can also save money on buying expensive clothes to impress as they only need a few when working at home.
4. High Employment Rate
As mentioned earlier, the current circumstance with the coronavirus has caused a massive negative impact on the economic industry.
Business owners around the globe are indeed in need of financial related workforce, and that includes accountants.
On a survey of the Job Outlook regarding virtual accountants, an average of six percent of an increase in the job demand is expected in the following years which are above the average.
5. Competitive Pay Range
In annual average, Virtual Accounts are at an advantage from Regular Accountants. Regular Accountants are paid an average of fifty-five thousand dollars, specifically $55,045 annually.
Meanwhile, Virtual Accountants are paid an average of over fifty-seven thousand dollars, specifically $57, 525 annually. That means that Virtual Accountants are paid five percent more when it comes to their annual pay.
6. Less Paper Mess With Cloud Accounting
You might have encountered the word Cloud Accounting before if you on the industry of accounting for a while now. But if you are new, you might have the gist of what it is from the word cloud. Cloud has been widely used as an online platform where you can store data.
Clod Accounting is a way of accessing the features of an accounting software through the web, this means you don’t need the hassle of installing this software. All data collected are organized in the tool. This might be of great use when you transition into virtual accounting.
Is it really practical and ideal to become a Virtual Accountant? You probably have the answer to that question yourself already.
All the reasons might be able to convince you to transition into a Virtual Accountant. All the reasons given are all reasonable enough to help you decide. Aside from the convenience that you’d be able to work from home by becoming a Virtual Accountant, being able to save money from taking out the expenses on transport surely is nice.
Another advantage is the time flexibility. With time flexibility, you would be able to manage your own time without having to depend and listen to superiors.
You won’t even have a problem with employment, as long as you are able and is qualified there is a high chance that you’d be hired with the fact that there is a high employment rate of accountants today and it’s increasing each in average each year.
You also have to consider the fact that the average hourly and annual salary of a virtual accountant surpasses the average annual salary of a regular accountant.