Mythbusting: 5 myths about virtual accounting to unlearn in 2024

If you’re a kiwi small business owner you might have heard about different negative myths surrounding outsourcing and virtual accounting service providers.

In this blog post our accounting professionals debunk a few of the most common virtual accounting myths.

Let’s take a squiz.

5 Myths About Virtual Accounting to Unlearn in 2024

Myth #1: “Virtual accounting is more expensive than traditional accounting”
Debunked – With traditional accounting, you have to incur recruiting costs, onboarding costs, equipment and software costs, and paid leave costs.
When outsourcing payroll, bookkeeping, and accounting functions, you only have to pay for the services you receive.

Myth #2: “Virtual accounting is riskier than traditional accounting”
Debunked – As mentioned in our fraud prevention blog post, virtual and white label accounting services are the safer option.
Employee fraud is actually more common among in-house accountants and our previous blog post details 4 major ways in which virtual accountants prevent fraud.

Myth #3: “Virtual accounting will limit your control over your finances”
Debunked – With a virtual accounting service provider in NZ, you get to decide how much control they will have over your finances.
Due to their expertise they will be deeply involved in boosting your financial health, but crucial financial decisions will always be taken by you.

Myth #4: “Virtual accountants provide generic solutions and services”
Debunked – Accounting service providers who offer packaged solutions, often make them customisable.
A good service provider will always take the time to analyse your needs and come up with a tailored mix of services.

Myth #5: “Only enterprises should outsource their accounting functions”
Debunked – Those who will benefit the most from outsourcing their accounting functions are small business owners.
The cost benefits and the time-saving you receive by outsourcing is more important to those who are still starting out. Outsourcing also comes with less risks – something that small businesses can afford to have less of.

Not convinced?
Drop your email in the chat and we’ll send you our FREE Ebook that lists out many more reasons as to why you should outsource.

We’ve got your back – Professional virtual accountants and cutting edge payroll systems NZ

Trying out something new might give you the collywobbles.

But we assure you that with our highly qualified professionals and affordable accounting & bookkeeping packages pricing, you’re in great hands.

Drop a kia ora in the chat and we’ll take it from there!

Talk to us about how we can support you and your business.

No products in the cart.