Virtual Accounting and Online Bookkeeping FAQ

What is virtual accounting?

Virtual accounting is a growing financial niche in which qualified bookkeepers and CPAs provide standard business accounting services virtually, instead of physically in an office. Virtual accounting can offer all the same benefits of hiring an accountant, but because of the remote ability of the virtual accountant, fees are typically lower.

Remote accounting is flexible, cost-effective, and the future of accounting for businesses of all sizes.

What are the benefits of online bookkeeping to my business?

Along with the lower costs of hiring a virtual accountant or virtual accounting firm, online bookkeeping affords unique advantages you won’t get from hiring a standard bookkeeper:

  • Accessible – Have access to all imperative documents, reports, records, and files at all times, whether you’re at home or on the road.
  • Paperless – Tired of wading through all of those papers and reports and receipts that have consumed your desk? Online bookkeeping software stores all of your business financial data on a cloud-based storage system that’s robust and secure.
  • Safe and Secure – The best online bookkeeping and accounting software has advanced levels of encryption, along the lines of bank-level security.
I haven’t filed my corporate tax for the past 3 years – what should I do?

Besides contacting the CRA and going through the Voluntary Disclosure Program, or arranging a payment plan with them, your best and safest course of action is contacting an accountant for advice and next steps in catching up on payments.

I need to calculate the cost of my services and products – do you offer such services?

Of course! Our virtual accountants are wired into a number of industries, and can help with all aspects of pricing. Afterwards, we offer complete accounts payable and accounts receivable services, ensuring you’re always on top of business assets and liabilities going forward.

Is my financial information secure with your software?

Using some of the best cloud-based accounting and bookkeeping software available, we guarantee all of your financial data is secure in our systems, which features bank-level encryption.

Do you charge hourly rates, or is it fixed-rate pricing?

Virtual accounting is all about flexibility and convenience for clients, and we wanted our pricing model to reflect that. Unlike many online accounting firms, we offer flat-rate, fixed pricing on all of our virtual accounting services. You’ll know exactly what you’re getting and how much it costs, all up-front. No hidden fees, no surprises.

Which virtual accounting services do you offer?

Real Time Accounting provides all the essential business and accounting services startups and small- to medium-sized businesses need in a number of fixed-rate packages.

You can learn more about our services below: