The COVID-19 pandemic has forced finance and accounting teams to work remotely since the beginning of 2020. Many companies have shifted toward remote online accounting as a result. While many employees have since returned to their offices, others have continued to perform their work remotely.
Telecommuting is Re-writing The Rules
One big question that companies, big and small, need to consider is whether a job role even needs to be “in-person” anymore. In the pre-pandemic world, working in a physical office environment was the norm. The majority of businesses and organizations were not comfortable with remote working. This was usually because they had simply never experienced it or tried it before.
At the same time, many businesses did not even consider the possibility of saving on costs and improving business efficiency through telecommuting. However, the catastrophic health and economic crisis that caught the world unawares has changed the rules of the game.
Remote Online Accounting is The New Norm
After so many employees and business leaders were forced to receive a seemingly overnight crash course in telecommuting, many have now embraced the concept of remote online accounting.
For most business owners, this flexible way to keep their accounts in order comes with plenty of benefits. Every entrepreneur is well aware of the struggle of covering too many duties and wearing too many hats. Depending on how small a business is, many managers and owners also serve as their business’ de-facto bookkeeper, and often attempt to avoid the expense of hiring a certified public accountant – even when they clearly need one.
For these businesses that need extra help but cannot quite justify hiring an in-house accountant, outsourced remote online accounting has always been a perfect solution. And while social distancing is still very much in effect, a remote or virtual accountant is even better!
Also, larger firms that already had a dedicated IT staff found it easier to adapt to post-pandemic business reality. They were not only able to quickly set up networks that allow employees to work from home but also had the technology to safely transmit sensitive financial documents.
Smaller businesses, on the other hand, had to face numerous challenges. However, those who work with a remote online accounting company and had developed a risk management plan were in the clear. A proactive plan works best when a business has backup plans in critical areas such as establishment of sound communication networks, employee training, and documentation.
Work With a Certified Remote Online Accounting Team
At Remote Accounting Online, we offer A-to-Z business taxation and accounting services in a wide range of industries. Here are just a few of the services we offer:
- Accounting system implementation and maintenance
- Management of corporate audits
- Inventory costing/valuation and maintenance
- Cost accounting including key indicator development and analysis
- Budgeting, strategic planning, and forecasting
- Financial statements and consolidation
- And more
All services are performed remotely by our team of qualified specialists at a fraction of the cost of an in-house Certified Public Accountant. When your company’s in-person capacity is limited, you can turn to our remote online accounting experts who have helped several businesses stay on top of tax policy changes brought on by the pandemic. If you have any questions or would like to schedule a consultation with one of our CPAs, please call us at 541-772-5555 or get in touch with us here.