19 Jan 2024

Top Reasons Why Business Owners Should Employ Remote Accountants

Introduction 

If you are wondering why you need remote accountants for your CPA firm or business, do not panic. The practice of remote accounting was prevalent even before the COVID-19 pandemic. However, the pandemic only fueled the popularity of this trend. Before the pandemic, several businesses were skeptical about remote working, including hiring remote accountants. However, in the post-pandemic situation, many businesses have realized the worth of remote staffing and hiring remote workers.  

Business owners who hire remote accountants do not compromise any data security. Hiring remote accountants has brought forth radical changes in organizational structures and never before advantages. This trend is seen mainly in new-age CPA and accounting businesses, which have already started investing in the best-in-class accounting service offered through skilled staff and remote personnel.  

This blog will examine why businesses should hire remote accountants for their accounting functions. Although your business may have its own CPA firm to look after its financial affairs, it is worth exploring why it is beneficial to consider hiring remote accountants for CPA firms too. 

Remote Accounting services

What is the difference between a remote accountant and an on-premises accountant? 

A remote accountant works from a location separate from the physical office of their business. They typically utilize cloud-based accounting software and video conferencing tools to perform their duties. On the other hand, an on-premises accountant works physically at the business’s location, usually within the office environment. They may use the business’s internal systems and software to carry out their accounting tasks.  

Why you should hire remote accounting staff 

  • Access to a broader talent pool:  Worldwide, countries are witnessing the decentralization of opportunities. Therefore, when businesses like yours seek remote recruits to manage their finances, they gain access to a broader talent pool. They no longer need to confine themselves to the limited or insufficient talent available within local communities or geographic regions. By embracing remote accounting services, businesses can leverage expertise from diverse backgrounds and locations, potentially enhancing the quality and efficiency of their financial management processes. 
  • Reduced Recruitment Cycle: Hiring remote accountants means the reduced hassle of screening, interviewing, and hiring the right accountants for your needs. Your business or CPA firm can requisition the company that offers the remote accounting hiring model to provide you with the required number of reliable and expert accountants for your business or organization. 
  • No Upfront Training: When you hire a remote accountant from a company, they will be well-trained in all aspects of financial management, including bookkeeping, budgeting, forecasting, cash flow management, working capital management, tax return preparation, and filing, payroll management, and other areas related to business finance. These experts also adapt to clients’ policies and working environments. They will utilize your software, such as Xero or QuickBooks, and your working environment to effectively perform their job and deliver productive results within your organization. This approach not only saves significantly on training costs but also reduces the expenditure of time and effort involved in training. 
  • No Infrastructure Costs:   Hiring remote staff doesn’t entail any infrastructure costs. The company that offers you remote staffing provides you with remote accountants, and they usually have a well-established infrastructure. Therefore, there’s no need to worry if you do not have a fully established infrastructure in your small business, company, or organization. You will get access to top-notch talent without spending on infrastructure or other allied expenses.  
  • 24/7 Services: Many businesses do not take the final step to sign up for remote accounting services as they are unsure if the differences in the time zones will work out to their advantage. A top-notch remote accountant services company will ensure they have staff available on a 24/7 basis to discuss your goals, requirements, and needs.   You can take advantage of the time zones easily as the remote accountants will complete the tasks you assigned at EOD while it is night in your country and daytime in theirs. This helps keep your business functioning without a break, and your remote accountants can function as if they are an extension of your team in the country where they work. 
  • Improved Productivity: Choosing remote accountants for your business usually enhances productivity. This is because specialists work with your assigned tasks while you free up time to look into other strategic activities. So, this indeed creates a win-win situation that improves productivity manifold.  
  • Reduced Stress:  Handling the finances of any given business or organization can be highly stressful. Instead, you can reduce your stress levels by hiring remote accountants to do your job. When you hire an extended team to work for you, there’s no need to worry about things like stress. All you need to do is focus on deliverables while your remote team will handle matters such as reports, reconciliations, audit support, tax returns, and other issues.  
  • No Worries About Absenteeism: When an employee calls in sick, you incur delayed work, healthcare, and other ancillary expenses if you need to hire a substitute. On the contrary, remote staffing doesn’t entail this expense as the remote staffing company is responsible for providing you with remote staff. If missed hours occur, the provider must suitably fill in the gaps.  
  • Bonus Point – Lower Expenses: When you hire a remote accounting expert, you cut down on the overall expenses involved in managing your company’s or business’s entire financial operations. For example, you save on contracts, printing agreements, workstations, the cost of beverages, and other facilities you provide to your regular employees. On the contrary, such expenses now become the responsibility of the remote staffing company that provides you with remote accounting services 

Final Thoughts 

To conclude, hiring remote accountants for your business helps bring in a radical change for your organization. Especially the pandemic-era proved the versatility of the remote hiring model. You, too, can hire remote accountants for your business and succeed. At KMK Associates LLP, we help you take advantage of remote hiring by providing remote accountants for your business. We are a highly experienced team of accounting professionals and CPAs who can take good care of your accounting needs. Contact us to know more! 

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