Best Practices for Remote Accounting Firms

Most accounting firms are now offering remote accounting services, which are convenient and effective. Accountants also prefer working from home because they get a better work-life balance, which tends to make them more productive. Furthermore, remote CPA firms save money as operational costs reduce when accountants work from home. 

However, as a virtual accounting firm, to allow your employees to work from home, you must introduce the best practices that make work easier. But which are the best practices your accounting firm can introduce? 

If you're planning to set up a modern accounting firm, this guide is for you. We’ll elaborate on the best practices that can make your virtual accounting firm successful. But before we get into the meat of the matter, let’s answer some common questions some of you might have.

Can Accountants Work from Home?

Yes. Accountants can work from home with the help of modern technology, which makes collaboration and communication easier. Most accountants work from home, as it's more convenient and cost-effective. Furthermore, remote accounting companies now hire remote accountants to reduce the cost of operation that comes with in-office setup. 

Accounting firms with accountants working from home also have access to highly qualified talent worldwide. Plus, it helps boost the employee retention level of remote accounting firms as accountants prefer working from their homes.

But do accountants work from home? The answer is a resounding yes.

Several accountants now prefer working in remote accounting firms, which gives them a work-life balance. Working from home also saves accountants time, as commuting daily to work is unnecessary. 

How Does Remote Accounting Firms Work Remotely?

For a virtual accounting firm to operate effectively, there are measures put in place that enable accountants to work remotely. Some of the ways accountants can work remotely include:

Creating an Ideal Working Space

As an accountant, you need an ideal work environment at home that can make you productive. Choose the best space that works well for you. You can select a room with enough air and light supply to make you attentive and ready for meetings. Also, ensure the furniture in the room is comfortable and ergonomic to increase productivity and prevent health complications.

Tracking Time

Another thing you need to do as an accountant working for a remote accounting department is track your time. Doing this will help you calculate your wages, as most virtual accounting companies pay hourly. It also lets you know your daily work hours to plan yourself better. 

You can track time using the remote CPA firm’s preferred time tracker to help them know how long you've been working. Know how your employer wants you to log your time to avoid inconveniences.

Introduce a Fast and Reliable Network

The remote accounting department contains a lot of work which requires the accountants to have a fast and reliable internet connection. So if you're working for remote CPA firms, ensure your workspace has a reliable network supply that will help you meet deadlines on time. Shop around for the best network supplier that won't disappoint you. The network should support all the functions of remote accounting and bookkeeping.

Get the Right Software

Remote accounting also requires the right tools that make work easier for accountants. So as an accountant, ensure you have the appropriate software to enable you to work from home without challenges. 

Have the collaborative software that remote accounting companies recommend to enable you to complete the assigned tasks on time. A collaborative tool can also allow you to access and share files remotely without any challenges. But ensure you talk to the remote accounting online ICT team to know the right downloading procedure or how to log into the specific tools.

Communication tools will make the out-of-office environment convenient to work in. Depending on your company's preference, you can get Zoom, Microsoft Teams, or Slack.

How Do You Create a Virtual Accounting Service Practice?

As more accounting firms working remotely are mending their way to get more clients, you should learn how to create virtual accounting service practices. Here are some best practices that you can adopt for your virtual accounting service practice:

Create Your Vision

Your vision for the remote accounting firm is what will enable it to become successful. So start by stating what you want your business to be, which should be personal. You can achieve this by answering the following questions:

• What do you want to be as the owner in the next 3-5 years?
• What kind of team members and clients do you want to work with?
• What kind of remote accounting services do you like to offer?

Develop Your Core Values

After that, you must develop how to meet your vision through your values. Remember, your core values are like personal values you want to be evident in the business. Know what you value as an individual, like creativity or innovation, and that can keep you ahead of the competition. 

Also, know what you value as a client, as this can help you meet your client's expectations. This should include customer experience and what impresses or bothers you when interacting with other service providers. Then ensure your values reflect on your virtual accounting firm, as this is what will sell you to potential clients. 

Have the Right Setup

For your virtual accounting team to work effectively, you must have the right hardware to make work easier and more effective. Have laptops, mobile devices, or a dual monitor setup that can boost productivity. Also, consider doing the following:

Introducing the Best Infrastructure

The best remote accounting companies need the right infrastructure that allows employees to work from home easily, like:

Communication Tools

A remote accounting firm must have the best communication tools to enable its team members to communicate internally and with clients. Find the right communication tool that meets your company's needs. The best communication software should allow you to create a telecommute bookkeeping channel or virtual CPA channel for specific team members. 

Collaborative Tools 

Also, ensure your accountants work without challenges through collaborative tools. Introduce an easy-to-use tool allowing team members to share and access files for better telecommute accounting. It's advisable to use paid collaborative tools that are more effective, secure, and convenient to prevent file or data loss. 

Investing in Security

Invest in reliable, secure tools and use safe storage like cloud computing. The cloud can also enable the sharing of files and documents without security threats. Remember to teach your team members the best security practices and protocols that prevent data breaches.

Can You Work as a CPA Remotely?

Yes. You can offer telecommute accounting services remotely, provided you have the right tools and know how to use them. Invest in collaborative tools like Qbox to access and share files remotely. You can also track the progress of different tasks through the app, making teamwork easier. Contact us for a reliable and secure platform to share files and documents in various formats.