With the growing trend of businesses adapting to remote work environments, the need for virtual accounting services has significantly surged. Numerous companies are pivoting towards online accounting firms to handle their financial affairs due to the considerable advantages such as flexibility, cost-efficiency, and niche expertise.
Nonetheless, the process of engaging a remote accountant demands meticulous evaluation to secure a suitable match for your business requirements. Especially when more and more accounting firms are considering hiring globally from more cost-effective markets like South America or the Philippines.
Here are some essential aspects to consider when recruiting a remote accountant, catering to the needs of both small business owners and freelancers eager to simplify their financial administration.
What advantages of a remote accountant?
There are many benefits to hiring remotely for accounting firms, but, the bottom line is definitely less costly. Remote accountants often have lower salary expectations, and the company can save on traditional office space costs such as rent, utilities, and equipment.
Also, hiring remote accountants can improve productivity and provide more flexibility for both the company and the worker. Remote accountants have fewer distractions, and they can work in environments that suit their individual needs.
With advancements in technology and access to the same tools and software as in-house workers, ensuring a merger between both teams is possible.
What to look for when hiring a remote accountant
Before you start looking for an online accountant, it's essential to determine exactly what you need help with. Do you need help with bookkeeping, tax preparation, financial reporting, or all of the above? Do not hesitate to seek professional help or consult specialized staffing companies for advice.
If you decide to go with a remote accountant, it's important to follow some steps to ensure they are qualified and trustworthy. Here are some tips:
- Check their credentials: Make sure your remote accountant has the proper licensing, certifications, and qualifications to do the work you need.
- Ask for references: Talk to other clients who have worked with your remote accountant to get a sense of their experience and the quality of their work.
- Review their work: Ask for samples of their work, such as financial statements or tax returns, to ensure they have the necessary skills and expertise.
- Set clear expectations: Clearly define the scope of the work, the timeline, and the deliverables to ensure that you and your accountant are on the same page.
- Use secure communication and file-sharing tools to protect your sensitive financial information.
How to Hire a Remote Accountant?
When it comes to hiring a remote accountant, there are many possibilities. Here are some of the most popular options you can find:
- Freelance marketplaces: Platforms like Upwork, Freelancer, and Fiverr can connect you with remote accountants who are looking for work. These tools are a little dubious since you never really know who you are hiring and they have no way to prove the truthfulness of job samples. If you decide to use one of these platforms, it's crucial to thoroughly review the candidate's profile, job history, and work samples.
- Staffing companies: If you are looking for a more reliable and guaranteed solution, staffing companies are a great option for finding remote accountants on a part-time modality. They usually work with various companies and can hire contractors both locally and internationally.
- Employer of Record companies: The best option for global talent attraction. An Employer of Record helps you hire internationally without any of the complications of job posting, language barriers or compliance issues. These companies have a pre-vetted pool of highly skilled professionals who can provide accounting services tailored to your specific business needs and assume all of the employment responsibilities.
- Referrals: Ask for recommendations from your network and see if anyone has worked with a remote accountant that they would recommend. This is not necessary when hiring through an outsourced staffing firm as they take care of the pre-screening process for you.
So, should you hire a remote accountant?
Yes, definitely. By hiring remote accountants for your firm, you can enjoy the benefits of having a financial expert, with just the experience and flexibility you need, without the physical office space costs.
Remember to create a thorough process to evaluate your potential candidate and check their background as much as you can. If you need more time or experience to do it, accounting staffing services can be a great solution to simplify your life. Your best accountant is online, you just have to find it.
