Virtual Accountant — Your Complete Accounts Department, Online
Virtual Advisor's Virtual Accountant is an online accounting solution that provides digital accounting services for organisations that want to cut the cost of appointing a full-time employee as the business expands and the volume of books to be maintained increases. Your all-round accounts department is available at the click of a button — book-keeping, compliance, payroll and MIS handled remotely, so you can focus on the business.
- Accounting — chart of accounts, book-keeping, bank reconciliations, payroll and fixed-asset accounting.
- Review — general ledger, financial statements, budgeting and statutory compliance review.
- MIS reports — monthly, quarterly and annual reporting, receivables/payables and cash flow management.
- Compliances — GST, TDS, income tax, PF, ESI and Professional Tax filings.
An online accounting solution built for growing businesses
It is especially useful for small and medium-sized businesses because it is cost-effective and flexible to the requirements of the entity — a complete outsourced accounts function you engage without adding fixed headcount as your books and volumes grow.
Our team delivers services to fulfil the needs of your business with utmost commitment and flexibility. You choose a range of accounting services from our offerings, and we run them for you — accurately, on time and to a standard equal to or higher than an in-house accountant. When you need CFO-level judgement on top of the day-to-day, our Virtual CFO service picks up where the accounts department ends.
See our Compliance Reporting tool
Choose exactly the services you need
Five service areas that together form a complete, well-run accounts department — pick all of them or only the ones that fit.
Accounting
- Setting up of chart of accounts
- Book-keeping
- Bank account reconciliation statements
- Payroll processing accounting
- Fixed asset and depreciation accounting
Review
- General ledger review
- Review of financial statements
- Budgeting, forecasting and variance analysis
- Review of compliance with statutory laws and regulations
MIS Reports
- Monthly, quarterly and annual MIS reports
- Management of accounts receivable and accounts payable
- Financial planning and strategies
- Cash flow management
Compliances
- GST return preparation and filing
- TDS return preparation and filing
- Income tax return preparation and filing
- Compliance with PF, ESI and Professional Tax provisions
- Filing of PF, ESI and Professional Tax returns
Most regular taxpayers file GST returns (GSTR-3B) monthly, or quarterly under the QRMP scheme for smaller businesses, per the GST portal.
Support Services
- Liaison with statutory auditor for audit closure
- GST audit assistance
- Income tax audit assistance
- Implementation of new accounting software packages
Why businesses go virtual for accounting
Lower cost, higher quality and a compliant, healthy financial system — without building an in-house team.
- Savings in time and cost
- Increased quality and flexibility in the finance function
- Better profitability by eliminating unnecessary activities
- Access to the services of high-skilled professionals
- No need for a separate in-house accounting team, reducing recruitment
- Ensures adherence to compliances
- Lets you focus on operations while we own the financial aspects
- Communicate with your accountant through virtual meetings
- Handles businesses of all sizes, forms and industries
- Timely information to management through reports
- Achieve and sustain a healthy financial system with customised solutions
- Same or higher standards than an in-person accountant
The finance function has moved to the cloud
Opting for virtual accounting is a strategic decision. When a business is too small to hire a full team of in-house experts, it can outsource its finance function — especially MSMEs, start-ups and other small entities. And when the entrepreneur does not have the financial skills, or simply does not wish to execute these functions personally, outsourcing finance and accounting is the sensible choice.
Advances in computerised environments, the internet and technology have changed how businesses operate, and the accounting industry has benefited most of all: the need for physical interaction between the user and the accounting entity has all but disappeared. E-invoices, e-statements, e-documents, document scanners, online file transfer and online meeting applications have made accounting through virtual mode seamless. You get your financial and accounting work done from remote locations by availing services from trusted, established providers.
Because a virtual accountant carries none of the overhead of a large brick-and-mortar office, clients receive accounting services at a lower cost than a regular firm — while meeting the same standards, or even higher. Many MNCs have already started outsourcing their accounting work to remote professionals; the transition to cloud accounting is just the beginning of a more efficient way to run the business.
Virtual Accountant, answered
Yes. We work through trusted, established cloud accounting platforms with role-based access, secure online file transfer and controlled document handling. You retain ownership of your books and data at all times, and access is limited to the professionals assigned to your engagement.
We work on the cloud and desktop accounting packages our clients already use, and we can recommend and implement the right one for your business. Implementation of new accounting software packages is part of our support services, so we can migrate you onto a system suited to your size and industry.
Everything runs through virtual mode — e-invoices, e-statements, document scanning, secure online file transfer and video meetings. You share your bank statements, invoices and documents digitally; we record, reconcile and report, then review the numbers with you over an online meeting.
We are not your statutory auditor, but we make audit season straightforward. Our support services include liaison with your statutory auditor for audit closure and assistance with GST and income tax audits — so your records, schedules and reconciliations are ready and the auditor has exactly what they need.
Hand over the books, keep the clarity
Let our Virtual Accountant run your book-keeping, GST, TDS, payroll and MIS online — so your team can focus on operations and customers.