Accounting virtual assistant: a comprehensive guide

There’s a lot involved in running a successful accounting firm. In addition to complex accounting tasks, there are all manner of day-to-day jobs to handle. But when accountants spend too much time scheduling calls, responding to enquiries, or invoicing clients, they don’t have enough time to deliver real value to their firms. 

This is where an accounting virtual assistant (VA) can be a game-changer. VAs are remote professionals who handle administrative, bookkeeping, or accounting tasks. As a result, in-house accountants have the time and space they need to work on tasks that move the needle. 

Read on to explore how a virtual assistant could transform your firm. We’ll look at the services they offer, the benefits they bring, and how to hire the right one. 

How can an accounting virtual assistant help your business?

Accounting virtual assistants are similar to traditional personal assistants. They’re there to support you by taking over all those tasks you don’t have time to do yourself. Virtual assistants for CPAs can handle all those day-to-day administrative jobs that take up so much time but add little value. For example, VAs can: 

• Ensure that client calls, emails, and queries get answered swiftly
• Handle the appointment scheduling process
• Send out engagement letters and welcome packs to new clients
• Send invoices, track payments, and ensure that vendors get paid on time
• Add new clients to your CRM, keep existing files up to date, and update financial data 

But that’s not all. VAs are also qualified accountants. So in addition to administrative tasks, you can hand over day-to-day accounting, bookkeeping, and tax jobs as well. For example, a virtual assistant can: 

• Handle bookkeeping, including recording transactions, categorizing expenses, and maintaining up-to-date financial records
• Support you with tax filing, including gathering the necessary documents, organizing tax records, and preparing reports
• Manage employee timesheets, process payroll, and ensure tax withholdings and deductions are accurate
• Prepare accurate financial reports to assist with informed decision-making

The benefits of using a virtual assistant

Hiring a virtual assistant can yield a range of benefits for your accounting firm. It’s not just about saving time. With a virtual assistant handling day-to-day tasks, you can focus on strategies that drive growth and profitability. In this section, we’ll look at the key advantages that VAs offer:

Cost savings compared to in-house employees

Traditionally, when accounting firms needed additional support, they looked to expand their in-house team. While there are some benefits to growing your team, there are also several disadvantages. 

Adding a new full-time team member can be expensive. What’s more, chances are you don’t require exactly 40 hours per week of additional support. So you’ll likely overpay for what you need. 

VAs are much more cost-effective. Because they aren’t employees, you don’t need to worry about providing office equipment, furniture, or benefits. You can also tap into a global workforce, meaning you can work with someone from a country with much lower rates.

Increased productivity and focus on high-value tasks

Every accounting firm owner would love to scale their business. What often holds them back is their capacity to take on new clients. This is because so much time is spent keeping the administrative wheels turning. 

With a virtual assistant, you can hand over all those day-to-day jobs. This frees you up to focus on tackling complex accounting tasks or high-value clients. Instead of answering endless emails or chasing invoices, you can put that time and effort into growing your business and improving operational efficiency.

Flexibility and scalability for growing firms

We already touched on the lack of flexibility you get with internal staff. If you need some extra support, hiring someone on a rigid full-time contract isn’t always the best way forward. This is especially true if your needs change from month to month. 

VAs give you the flexibility you need to grow your business. You can hand over as much or as little work as you need to. You can also scale the service up or down as demand changes. 

Reduced workload and stress for accountants

Running an accounting firm can be overwhelming. Juggling accounting tasks, client communication, administrative duties, and everything else can lead to stress and burnout. Hiring a virtual assistant gives you that breathing space you need to take a step back. It reduces the burden, allowing you to achieve a better work-life balance. 

How to hire the right virtual assistant for a CPA firm

Finding the right virtual assistant for your CPA firm requires careful consideration. Get the selection process right, and you’ll enjoy stress-free growth and flexibility. Get it wrong, and you’ll face increased inefficiencies, communication challenges, and potential accounting errors. Here’s how you can make the right choice:

Identify the skills and expertise you need

The exact skills you’ll need from a virtual assistant will depend on different factors. For example, if you may need a solid all-rounder who can manage both administrative and basic accounting tasks with ease. 

Alternatively, you might want someone with more specific skills and experience. For example, if you run a tax firm, an assistant with tax preparation experience could be vital. If you want to hand over payroll, hands-on experience in payroll is essential. 

That said, there are certain skills and competencies that a good virtual assistant for accountants possess. When conducting your search, look for VAs that have: 

• Solid accounting and bookkeeping skills
• Previous experience working with a firm like yours
• Proficiency in accounting software, automation tools, and other key tech
• Attention to detail 
• Strong communication skills and English proficiency
• Strong time management and organizational skills

Most of these soft skills and personality traits can be difficult to prove during an interview, so make sure to ask for references from former clients or employers. You can also look at online reviews and ratings. 

Know where to find the best virtual assistants

Accounting virtual assistant is a relatively new job role, so knowing where to find the best ones is crucial. First up, there are now plenty of businesses dedicated to providing accounting virtual assistant services. Here’s what a quick Google search returned: 

In addition to Google searches, you can also look for a virtual assistant for CPAs in freelance marketplaces. Sites such as Upwork, Fiverr, and Freelancer are great places to connect with self-employed VAs. Freelancers are typically cheaper than going through a dedicated VA service provider, but you’ll need to spend more time vetting candidates to ensure quality and reliability. 

Finally, you can tap into your professional network. LinkedIn is a great place to find top talent. You can either ask your contacts for recommendations or join industry-specific groups and ask there. 

Ask the right questions during interview

Once you’ve got a shortlist of candidates, it’s time to reach out and ask some questions. The exact questions you ask will depend on the type of candidate and where you found them. If you’re going with a VA service provider, you’ll want to set up a call to discuss their services. If you are keen to go the freelance route, you’ll need to approach this more like a traditional interview. 

Here are some questions you might want to ask candidates to get a better understanding of their experience, costs, and approach to work:

• What experience do you have working with accounting firms similar to mine?
• What are your hourly/weekly/monthly rates?
• Which accounting software are you proficient in?
• How do you ensure accuracy when managing financial records?
• What steps do you take to maintain client confidentiality and data security?
• Can you provide me with references or reviews from clients you have worked with?

Nail the onboarding process

Once you’ve chosen a virtual assistant, you’ll need to onboard them. The quality of your onboarding process will set the tone for the engagement. With this in mind, you must set clear expectations from the start. Define the VA’s role, responsibilities, and the metrics you’ll use to gauge performance. You can then provide detailed training on your internal workflows and standards.

Next, you’ll need to provide access to all necessary tools and systems. Pay careful attention to granting the right access levels. This could include:

• Accounting, bookkeeping, or tax software
• Communication channels
• Document management system
• Invoice and payments platform
• Customer relationship management (CRM) platform
• Shared email and calendars 

Once they are up and running, it’s a good idea to check in with your virtual assistant at regular intervals. This gives them a chance to ask any questions, and for you to provide feedback and advice. 

Final thoughts

If you’re looking to scale your accounting firm in the most flexible and cost-effective way, hiring a virtual accounting assistant makes a lot of sense. By handing over all those day-to-day accounting and administrative tasks, you can focus on what matters most — driving growth and profitability. 

Another way to achieve this is through the right software. With TaxDome, you can automate entire accounting workflows — including all client communication, document collection, e-signature requests, task management, and more. With all those repetitive tasks taken care of, you’ll have more time to focus on high-value projects and strategic growth.