Being an accountant today is more challenging than ever. Every day you’re expected to deliver high-quality, high-volume work, and don’t even get us started with month-end closes and tax season. This workload overload causes burnout in 99% of accountants, but what if there were a way to alleviate stress?
Recently there have been more options to help accountants with their workload. There’s leveraging accounting software and AI, another option is just straight up increasing your capacity with outsourced accountants, but one of the more underrated solutions is enlisting the help of accounting Virtual Assistants (VAs).
These remote professionals can handle a wide range of tasks, freeing your onshore accounting team to focus on core activities that drive business growth and enhance client satisfaction. In this guide, we’ll explore the roles and benefits of integrating a virtual assistant into your accounting workflow.
How Can Virtual Assistants Help CPAs?
VAs can take off a variety of responsibilities from CPAs’ plates, from routine administrative tasks to more specialized accounting functions. Here’s a breakdown of how VAs can support your practice.
| Administrative Support | |
|---|---|
| Email Management | Filtering and organizing emails, responding to routine queries, and managing communication with clients. |
| Calendar Management | Scheduling appointments, organizing meetings, and ensuring you never miss a deadline. |
| Document Management | Handling digital filing systems, organizing client records, and ensuring secure document storage. |
| Client Coordination | |
|---|---|
| Client Onboarding | Managing the initial paperwork, setting up client profiles, and ensuring a smooth onboarding process. |
| Client Communication | Following up on client inquiries, sending reminders for upcoming meetings, and providing updates on project status. |
| Bookkeeping and Accounting Tasks | |
|---|---|
| Data Entry | Inputting financial data into accounting software and maintaining accurate and updated records. |
| Invoicing and Payments | Creating and sending invoices, tracking payments, and managing accounts receivable. |
| Expense Management | Monitoring expenses, reconciling statements, and preparing financial reports. |
| Specialized Accounting Support | |
|---|---|
| Tax Preparation Assistance | Organizing tax documents, assisting with data collection, and supporting tax filing processes. |
| Financial Reporting | Preparing draft reports, compiling financial statements, and assisting with analysis. |
| Compliance and Audit Support | Helping with compliance documentation, organizing audit files, and ensuring regulatory requirements are met. |
Benefits of Working with Accounting Virtual Assistants
Increased Productivity
This one is a given, but an essential one. VAs take on time-consuming tasks from your accountants, freeing them up to focus on higher-value and income-generating tasks such as strategic planning and client advisory services.
At TOA Global, on top of being skilled at admin tasks, our executive virtual assistants are also trained in various accounting functions such as bookkeeping, managing invoices, expenses, and billing. In addition, they’re also trained to use systems such as Xero/XPM, Now Infinity, and MS Office, ensuring that they can hit the ground running and provide immediate value.
Cost Efficiency
Scalability
Enhanced Client Service
Access to Expertise
Many accounting virtual assistants bring specialized skills in accounting software, tax preparation, or financial reporting, adding value to your practice without extensive training. However, TOA Global’s EAs can be further trained through our RTO-registered training division, Ab2 Institute of Accounting.
Best Practices for Integrating Virtual Assistants
- Clearly Define Roles and Responsibilities – Lack of clarity is one of the major reasons why some might fail at outsourcing. Make sure to outline the specific tasks and expectations for your VAs. A detailed job description helps ensure they understand their role and how they contribute to the practice’s success.
- Invest in Training and Onboarding – Provide comprehensive onboarding to familiarize VAs with your systems, processes, and client expectations. Continuous training is essential to keep their skills up to date.
- Leverage Technology – Utilize cloud-based accounting software and project management tools to facilitate efficient collaboration and communication with your VAs.
- Establish Communication Channels – Regular check-ins, clear reporting structures, and open lines of communication are crucial for maintaining alignment and addressing issues promptly.
- Set Performance Metrics – Define key performance indicators (KPIs) to measure the effectiveness of your VAs. Regularly review their performance and provide feedback to encourage continuous improvement.
- Maintain Security and Confidentiality – Ensure your VAs adhere to strict confidentiality agreements and data protection protocols to safeguard sensitive client information.
Choose TOA Global’s Elite Executive Assistants
Virtual assistants represent a valuable resource for CPAs looking to upgrade their practice. By delegating the busy work, CPAs can focus on delivering strategic value to their clients, driving growth, and achieving long-term success.
Ready to transform your accounting practice? Partner with TOA Global’s outsourced executive assistants and experience the benefits of specialized expertise our team brings. In addition, you can also download our The Virtual Assistant Guide to immediately boost your billings with an offshore virtual assistant.
