Services

Online Bookkeeping and Accounting Services and Solutions for Your Business.

Plain and simple, our scalable cloud based bookkeeping and accounting solution removes the burden of staffing and managing in-house bookkeepers, accountants and controllers. We deliver a level of reliability, consistency and expertise that is typically reserved for mid-market companies with large accounting departments. With a fractional share of a full accounting department you’ll get the best of both worlds – expertise as needed without the headaches.

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When you choose to outsource your online bookkeeping needs to Virtual Accounting Solutions Inc, you can expect cost savings over fully loaded expenses associated with hiring and retaining in-house staff. More importantly you will also benefit from our established accounting expertise and industry best practices that ensure your financial house is in order and you are receiving actionable financial information.

What You Get

Our cloud based bookkeeping services allow you to begin where you need us to help, and add on when or if the time arises. You can customize our services by choosing which tasks you want to perform internally and which tasks you want to outsource to Virtual Accounting Solutions Inc:

OUR BOOKKEEPING & ACCOUNTING SERVICES INCLUDES:

  • Accounts Payable
  • Accounts Receivable
  • Payroll
  • 1099 Tracking & Year End Preparation
  • Banking and Credit Card Reconciliation
  • Sales Tax and Payroll Tax Reporting
  • Weekly review of detailed coding
  • Review of bank reconciliations
  • Reconciliation of balance sheet account
  • Month-End & Year End Close Preparation

Benefits

Removal of Burden
  • No More Hiring, Training, Retraining, Office Space, Vacation and Sick Days 
  • Total Financial Systems Design & QuickBooks Integrations & Automations in the Cloud
  • Frees Up More Time & Resources Towards Building The Business
Peace of Mind
  • Dedicated Team & Technology Expertise 
  • Clean, Accurate & Timely Set Of Books
  • Audit-Ready, Year Round!
  • Reduce Fraud With Internal Controls
  • Expertise-As-Needed Without Adding Staff
Financial Intelligence
  • Custom Reporting Packages Deliver Financial Foundation For Success
  • Anytime, Anywhere Access to Real-Time Financial Intelligence From Dashboard

If a service business’s financial, time tracking and payroll systems aren’t integrated, it’s likely they have time and expense leakage that are going unnoticed and un-billed. When project-based businesses lose sight of project management, travel time and other non-billable time, it’s not uncommon for them to go for months without knowing they are under water on a job or project.

And, by the time the missed expenses are discovered, it’s too late to return to the client with an adjusted fee.

The only way that job costing works is to know that nothing is slipping through the cracks. 

While many well-run businesses rely on “standard rates” from their project management system to gauge profitability, the best run businesses use their accounting system to track all labor and direct expenses incurred to deliver services to see a true reflection of their gross profit.

True job costing goes beyond just tracking salaried time to include health insurance, travel time, and even costs related to recruiting and training your people. While the initial effort in designing the financial system is greater, once you have a fully burdened labor cost allocation, you can track profitability by customer, job, service item, product line, or whatever way your company and organizational chart are structured. This allows businesses to monitor, and manage, every expense that goes into conducting business. 

Get decision-ready financial information

Virtual Accounting Solutions Inc helps businesses achieve accurate job costing by fully integrating their accounting, time tracking and expense management systems. We work with any time tracking system that integrates with QuickBooks. We make it really easy for your staff to track the time they spend on every job, customer, product or service, and we automatically feed that information into your accounting system. Once it’s in your accounting system, we use that timesheet information for billing purposes, to generate payroll, and to automatically allocate your labor costs based on the timesheets and direct expenses.

With customized job costing reports, you can make data driven decisions for your business’s biggest questions:

  • Are we running jobs on budget? 
  • Who are the most profitable and least profitable clients? 
  • Do we have operational inefficiencies?
  • Which clients do we need to re-price? Or fire?
  • Who are the most productive people, employees, teams, and departments? 
  • When is the right time to hire more staff? 
  • Are we within our target margins?
  • Where should I invest my marketing dollars?