3 Popular SBA Loans: What You Need to Know

Funding your small business or startup raises the lifelong question, how do I do it? Whether you’re in your first year operations or reaching a long-sought after landmark of one, three, five years or more, you’ll still need to continue funding your operations. While retained earnings drive your business to profits, everything from expanding your company to buying new property and technology to handle that growth, loans are one of the most commonly used ways to fund small-business projects.

How to Fund Your Small Business with Three SBA Loans

Small, or Micro Loans

When it comes to borrowing a small amount of money up to $35,000 (this is considered a relatively small amount of money compared to other larger business loans) many people find the 7(m) Microloan program to suit them best.

While the loan itself is currently being quite heatedly debated due to its direct sourcing from the SBA, this loan is perfect for startups. The funds, which max out at $35,000, can be used for pretty much any expense, keeping the loan easy-to-use with little restriction.

However, this loan requires its borrowers to enroll in financial responsibility classes that some find useful while others find to be a waste of their already-strained time as small-business owners. Regardless, this loan has a lot to offer its borrowers with relatively little cramping regulations.

Larger Loan Programs

Unlike the 7(m) Microloan program, programs such as the 7(a) or 504 Loan programs offer much larger amounts of money to companies. These loans can be borrowed in amounts between $250,000 and $1 million offered through subcontracted lenders to reduce the risk of the SBA’s offer to borrowers.

The 7(a) loan is actually one of the most popular loan programs offered, and is offered in many different forms to fit the needs of the borrower. Meanwhile, the 504 program allows small business owners the opportunity to borrow up to $1 million for new assets such as land and equipment. However, this loan is more difficult for many service companies to acquire.

Each of these loans have much more regulated spending and qualification requirements alongside a significant portion of borrower-responsibility when backing the loan.

For more information about small business loans, visit the US Small Business Administration's website. Or, drop us a line with your questions to see how Team VAST can help you decide which loan is best for you.

Comcast's Customer Service Debacle: What We Can Learn

Comcast has made headlines in business publications around the nation over the past month; unfortunately, it’s for remarkably terrible customer service. For those who haven’t had enough daily doses of business happenings, Comcast has been ousted for some truly absurd customer interactions.

Here's what happened:

In one viral instance, (the semi) well-known former Engadget Editor Ryan Block recorded being belittled and harassed during an attempt to cancel his service. A report by CNN Money mentioned another instance when former Comcast customer Tim Davis was told a clearly improper charge on his account simply couldn’t be reversed.

None, however, were as bad as Chicago photographer Aaron Spain’s experience, when he recorded himself being placed on hold for three hours when calling to cancel his service. Not only is the customer service terrible, this debacle just happens to be taking place merely weeks before an expected merge with Time Warner Cable. Ouch.

We We Learned as Virtual CFOs

As a virtual CFO and virtual accounting group, there are two valuable lessons the VAST team has taken away from Comcast’s unexcusable customer service.

The first lesson is that regardless of the industry and no matter how long a business has been in operation, the customer still always comes first. In our case, our virtual accounting services exist to make our clients' lives easier, giving them the superb accounting services regardless or their location.

The second lesson to be learned is to continue working as a team and never settle for "good enough." Learning new techniques, embracing new technology and consistently raising the standards of our business is encouraged around our workplace. Also, we want departments that are interdependent to still be informed on the services provided by other departments. Nobody can say whether or not providing a better overall service would have prevented customers from canceling their service with Comcast for sure; however, this entire debacle may have been prevented if Comcast aimed to increase the standards of their company and continue to offer better and better services to their clients.

Around VAST, we believe in working to be the best company our clients have ever worked with, and if we acted as cable providers (which we don't), we'd have the same belief because it's at the root of who we are.

Virtual Accounting: Where you Need it When it Matters

It's the world we live in: everything is digital. From cloud-based document sharing through Google and Dropbox to applications like Venmo offering instant person-to-person financial transfers, it seems that everything will be digital within only a matter of years. And while some things are better left in their old traditional ways, company accounting and financial management is not one of them. Here are the top three benefits that Team VAST brings its clients by granting them access to their finances anytime, any place.

Time-Sensitive Decisions

How many times have you had to check your bank account before making a large purchase? Chances are, more than once. Having access to your company’s financial data when making time-sensitive decision can be the difference between a great new purchase or the cause of your company’s Christmas bonus death. With virtual accounting, you have access to updated information you need when you want it, on your time – not your accountant's.

Financial Safety

Although when you use a certified virtual accounting firm such as VAST you can rest assured that your finances are being protected, it never hurts to know that your money is where it should be. Whether you need to check the status of a transaction or you are just keeping an eye on your accounts, let online virtual accounting lay your worries to rest.

Travel the Easy Way

Using virtual accounting for your small, medium or large business grants you the freedom to travel without the worry of leaving the financial information you need behind. With online virtual accounting services, you have all the information you need no matter where you are, from Berlin to Burbank.

VAST provides small businesses all over the world with the best virtual accounting services. Let us help you transition your finances into the 21st century today. Surely, you won’t regret it.

Tips for Starting an Entity in Nevada and Beyond

The time has finally come. You’ve summoned your inner entrepreneur. You’ve “stuck it to the man” like you’ve been telling your spouse and/or best friend you would for the past few years. You’re ready get rolling down the path of starting your own business, and … you feel completely lost.

Fear not! Many have walked this road before, and while it may seem daunting … even impossible at times, you can conquer the struggles of starting your entity in Nevada. Here’s how.

“Fail to plan and plan to fail.” Yes, it may sound cliché, but this statement rings especially true when considering starting an entity in Nevada. From the initial stages of conceptual design to physically writing your business plan, planning is an absolute necessity to starting your business. Unfortunately, there’s no room for that “sway with the wind and follow my heart” mumbo-jumbo here. You can follow your heart wherever it goes, just have a plan when you do so.

After creating your business plan the time comes to register your business with the state. Visiting the Nevada Silver Flume website (a government website for starting new businesses) will prompt you along a series of different questions, such as what type of business you are starting, your business name, a description of your new entity in Nevada and more.

Your new (hopefully soon to be Fortune 500) company is registered, and it’s time to get cracking on the fun stuff: federal and state licenses and registrations. Again, check with the Nevada Secretary of State website for information on which licenses you will need to operate your business legally. Failing to research exactly which documentation you will need can cost you a lot of money in the future, so doing it right the first time is imperative. Researching business practices and state laws are also important during this time, so don’t forget about those either.

Once you’ve officially registered and licensed your business, let the financing begin. No stage is more important than the other when starting an entity in Nevada; however, this must be done correctly and effectively. From choosing an accountant (such as VAST) or establishing company operating plans and bank accounts, how you handle the financial side of starting your business may determine how it ends as well. Set yourself up for success and consult a professional.

While choosing a location, equipment and employees requires insight specific to each operation, you’ve already began to walk on the racetrack of small-business ownership. For more information on the steps listed above, you can also visit the U.S. Small Business Administration Website. As always, feel free to consult VAST with any questions regarding your entrepreneurial endeavors to learn how we can assist you when starting an entity in Nevada and beyond.

Small Business Accounting: Setting a Strong Foundation for Success

The terms “accounting” or “financial analysis” are often dull enough to put business owners to sleep or frightening enough to send them screaming from a room. In reality, managing company finances can be among the least sexy components of starting your own business; however, establishing methodical and accurate financial habits now will only reap success for your company in the future. Similar to the progression of college math classes, accounting practices only become more complex and varied as your business advances. In order to establish a secure financial foundation that allows your business to grow, keep the following tips in mind for your entrepreneurial ventures.

New business owners often forget that borrowed money must be accounted for before when considering profitability. To fund startup assets such as buildings and equipment, borrowing money is common practice; forgetting to account for the money used to acquire those assets, unfortunately, is common practice as well. Although having more equipment to increase revenues may seem profitable, failing to analyze the value of equipment compared to the revenue can cause confusion and an inaccurate interpretation of your company’s finances. Taking the time to understand your debt-to-profit ratio in the early stages of your business will help maintain that ratio as your company transforms from a small to medium-sized business.

Although it may seem mundane, tracking your company’s breakeven point from the start is crucial to creating a sound financial foundation. Take advantage of the small number of transactions when your doors first open to understand your breakeven analysis thoroughly. By doing so, you’ll have a more comprehensive understanding of the analysis when revenues and expenses begin to increase. All too often small business owners find tracking their breakeven point unnecessary during the first stages of business; when business increases, they find themselves too confused to establish a breakeven analysis, resulting in financial pandemonium.

Company accounting tends to snowball as business grows. Practices that at first appear easy to understand often become more complex over time as assets, debt, transactions and profits increase. Establishing a strong financial foundation during the first months of business is crucial to maintaining financial literacy and achieving success. While VAST welcomes clients throughout all stages of their business’s life cycle, it’s never too early to start building your company’s financial foundation for success.

Small Business Accounting and much, much more ...

VAST offers small business accounting as well as many higher level accounting services for larger businesses. To find out which of our products are best to set your business up for success, visit our products page.

Online Bookkeeping Services: The Wave of the Future, Now

Small business owners are exceptionally well known for their ability to wear more than one hat around the office. From entrepreneur to marketing director to the occasional role of office handyman, they seem to be capable of doing it all; without letting a twirling plate hit the floor. However, when your business’s accounting is one of the spinning plates, you run a hefty risk of major setbacks.

In this post, we’ve listed some of our customer’s most common frustrations with DIY small business accounting.

The Mixup: How to Keep Personal and Company Finances Separate

As a business owner you are responsible for both personal and company finances. While it may suffice for the first few weeks, months and sometimes years of operation, independently managing these finances may prove detrimental to your company’s financial well-being. Combine this common DIY-method accounting error with the rest of the responsibilities that come with owning a small business and it’s only a matter of time before financial errors begin to appear and spread inaccuracy.

To Zig or to Zag: Accrual vs. Cash-Based Accounting

How hard can it be to differentiate which accounting method to use? Surprisingly, very. At-a-glance differences may appear to be minimal, but the accrual and cash-based accounting methods vary indefinitely. While one accounts for services at the time of operation, the other accounts for revenue when cash has been collected, regardless of the time of service. When choosing the DIY method of small business bookkeeping, selecting the wrong method can cause confusion and ultimately lead to damages.

Is it a Case of Tomato/Tamato?: Differentiating Between Cash Flow and Profit

Off the top of your head, can you name the difference? If not, you may need to reevaluate your current bookkeeping situation. Although the two appear to be similar, confusing cash flow and profits is one of the leading complications small business owners face when handling their own bookkeeping. Having positive cash flows does not mean your business is profitable, but many small business owners make the mistake of thinking so every day.

The Solution: Online Bookkeeping

So, how do we recommend resolving these issues? Through a convenient and secure service brought about by advanced technology: online bookkeeping. Whether you are just opening doors or your business has been operating for years, an online bookkeeping service is beneficial to business owners of all types. As a vital component to your company’s health, bookkeeping and accounting is not an area worth cutting corners. DIY style bookkeeping for small businesses is a way of the past; online bookkeeping is the way of the future. At VAST, the future is now.

Easy, Accurate, Done: Outsourced Accounts Payable in Reno

Managing your business’s accounts payable can be a daunting and often annoying nuisance. When managing your own finances as a small business owner, it can feel as if there simply aren’t enough hours in your day stay on top of it all, leading to unnecessary stress, unorganized financial documents and sometimes fiscal penalties when dealing with suppliers and manufacturers; all of which can really dampen your Danish (if you know what we mean).

Fortunately, VAST makes managing accounts payable easy, accurate and done. As just one of the many services we offer, VAST understands the benefits that come with outsourced accounts payable, and our Fortune 500 expertise ensures satisfaction and exceptional results. Although a recent study from the Association of Chartered Certified Accountants (ACCA) found that small business owners worry that using outsourced accounting, (also known as virtual accounting) may disrupt executive control of finances and managerial practice, the results prove otherwise.

Allowing VAST to take control of your accounts payable in Reno (or wherever your business is based) can reduce financial errors while allowing you to enforce business rules and limits that prevent employees from making costly mistakes. Whether your accounts payable includes basic costs or a laundry list of expenses, allowing a professional to manage your accounts payable offers abundant benefits.

VAST offers full-service, across-the-board virtual accounting services; however, we can accommodate working with your internal CPA should you choose--no problem. As virtual accounting becomes more widely used by businesses everywhere, you can count on VAST to stay ahead of the game, providing the best service for outsourced accounts payable and all things virtual accounting.

Choose VAST to ensure managing your accounts payable is easy, accurate and ultimately, done.

VAST; Offering Outsourced Accounts Payable in Reno

VAST is proud to offer reliable outsourced accounts payable in Reno and beyond. While we may be headquartered in Reno, Nevada, our services are available country-wide, with global options pending. For outsourced accounts payable in Reno (or anywhere else), or a full spread of virtual accounting services. Please contact us to get started today. VAST, sounds like ‘fast,’ feels like trust.

Small Business Tax Preparation in Reno (and Well Beyond)

For most small business owners, tax season stinks. As a fellow small business, we understand the blow that comes with being sideswiped by the unpredictable laundry list of requirements necessary to file small business taxes. Mix in the already overwhelming everyday duties of a small business owner and tax season is a recipe for disaster (AKA an impending mental breakdown, a lash out at unsuspecting victims or a series of holes in your office walls).

Fortunately, we know exactly what it takes to make tax season that much easier on you and your business. How? By putting VAST in charge of your small business tax preparation. Whether you use VAST services for your accounting needs year-round or you’re simply looking for a professional hand to assist in filing for 2013, let us give you the ultimate peace of mind. Our expertise handling small business tax preparation in Reno (and beyond) is extensive, mind-boggling really.

As a virtual accounting firm in Reno, the systems we have established to ensure convenience and ease-of-access are unbeatable. We specialize in bringing quality, efficiency and accuracy directly to you and your small business. Let us do what we do best: crunch your numbers and keep your hard earned cash in your pockets where it belongs.

As a small business owner, it’s easy to feel overwhelmed. At VAST, we make accounting so easy that you’ll swear you just discovered the small business accounting “easy button.” April 15th is racing toward us, so help us help you by contacting VAST today.

Whether your small business is based in Reno or elsewhere, VAST has the resources, experience and know-how to competently prepare your small business taxes.

 

Now That it's Tax Season, Has Your Accountant Gone MIA?

Did you outsource your accounting to a firm that promised they specialize in "cloud" accounting or virtual accounting only to find that now that it's tax season, they've run back to their true love (and breadwinner): preparing taxes? There are bushelfuls of accounting firms that moonlight as outsourced accounting firms, generating revenues to fill in those "slow" months when tax returns aren't pouring in. This can often leave their clients scratching their heads during the busy tax season months of February, March and April. Unable to connect via email, phone, in-person visits, telegram or any other means of communication, clients are left asking themselves "where, oh where did my accountant go?"

At VAST, we are dedicated to virtual accounting and outsourced CFO services for our clients and this means that our clients have dedicated accountants on their team (year-round).  These specialized accountants love VAST and work full-time for VAST--so they won't get pulled away when it's busy, regardless of the time of year. We dovetail our virtual accounting services into our tax team so that we can provide more intuitive and calculated tax advice to our valued clients. This way our valued clients receive consistent virtual accounting throughout all 12 months of the year and also the value-add of a tax team that is familiar with their finances.

Connect with us today to learn how VAST can empower you with financial information.

VAST is a virtual accounting service based in Reno, and with the cloud capability to work with clients all over the world. When it comes to tax preparation in Reno and beyond, we aim to take a comprehensive look at our small-business and individual clients in order to prepare and file their taxes professionally, intuitively, and on-time. 

At VAST, We Don’t Take Hostages

With nearly 85% of small businesses in the United States using Quickbooks, there is a really, really good chance that, if you're a small business, you do too. So, when you outsource your accounting to a virtual accounting firm, why would you want them to move all of your critical data to a proprietary system that you've probably never heard of? Sure, many of these systems have snazzy dashboards and additional reporting that the firm can automatically feed over to you, but at the end of the day you are stuck with that program once you make the switch. Like it or not. You are held captive by the firm that understands the program and knows that you need them to help navigate it.

At VAST, we don't take hostages. We keep the accounting for our clients safe and sound in the same Quickbooks file and version of Quickbooks that we initially received from you. Sure, we clean it up and make me sure it is in tip-top shape, but there’s no need to spend our time (and your money) transferring all your financial information into some obscure system.

We keep your accounting current and reconciled so you have full reporting and full transparency whenever you need it. You can log directly onto your Quickbooks file on our cloud server or simply download your reports from our secure portal 24/7, even if our offices are closed for any reason (after hours, holidays, weekends, etc.).

Our talented team here at VAST believes that entrepreneurs are empowered by financial information. Therefore, we want our clients to have full access to their information and full faith and confidence in the condition of their data and the system it's kept on.

Visit www.vastcfo.com today to learn how VAST is better for your bottom line.

New Year’s #1 Resolution Fulfilled: Easy Accounting

With 2014 now settled in, many businesses are looking for opportunities to improve upon their 2013 systems and processes. Successes can be expanded, failures reduced, and efficiencies increased. Business owners all over the world are using the new year as an opportunity to implement new processes that will help them meet their ambitious goals in 2014. As a way to compliment these efforts by business owners, VAST has introduced a selection of new accounting services--services that are geared specifically toward key groups such as new businesses, small businesses and experienced business in need of virtual assistance.

Our revamped website can now easily be navigated depending on the services you are looking for. The following three main areas help guide you depending on which category you currently fall in:

VAST for Help Getting Started: This area has information and help for entrepreneurs who are kick-starting a new venture. VAST has created three products specifically designed for the startup entrepreneur: Guide to Startup Success, VAST:Map and VAST:Launch. The Guide to Startup Success is for the business owner who is hands-on and prefers to do it all themselves. This guide gives clear guidelines and recommendations for handling the numerous tasks that must be completed when opening a new businesses. VAST:Map, also know as our Master Accounting Plan, is for the startup business owner who wants expert direction on their specific business. Our professionals will analyze your business and your industry to provide a detailed MAP to help you complete required tasks competently, without second guessing. The final new product for the startup business owner is VAST:Launch, which is for the entrepreneur who prefers to have a professional complete required tasks quickly and correctly. With VAST:Launch, an expert will complete a series of responsibilities, including setting up a Nevada entity (LLC, S Corp, etc.), acquiring an EIN, creating a cashflow forecast and much, much more.

Virtual Accounting for Small Businesses: This area has information for small business owners who are interested in having their own virtual accounting team fulfill their business’s accounting needs. VAST offers modern, innovative virtual accounting services that allow business owners to outsource their business’s accounting to a competent, professional accounting service, which frees the business owner to focus his/her energy elsewhere. Our services are designed to give you peace of mind, reduce overhead and explore opportunities based on the up-to-date financial information we’ll maintain. With VAST, you’ll have the opportunity to receive help with accounts receivable, accounts payable, payroll and tax preparation, just to name a few. VAST is proud to offer advanced virtual accounting services with limitless features to help your business run efficiently and meet its short- and long-term goals.

Outsourced CFO for Businesses: This area has information and help for businesses that require more sophisticated virtual CFO services. Our virtual CFO services allow your business to have a CFO without paying an exuberant salary to employee one in-house. With VAST’s virtual CFO services, you’ll have a professional, experienced and skilled team member who will offer recommendations and direction in terms of finance, risk management, and high-level consulting. You’ll have continual access to a senior financial executive who will be well versed in your company’s accounting and financial goals.

At VAST, we look forward to being part of your 2014 goals. The new products we have designed are meant to assist our clients in creating businesses that are more efficient, more capable and more knowledgeable when it comes to their accounting. Here’s to a prosperous 2014.

-VAST

VAST is a virtual accounting service in Reno, Nevada that works with ambitious businesses all over the world. We believe that financial information can empower business owners, allowing them to make wise decisions as they grow their business. Looking to make headache accounting easy accounting? Call VAST. 

Simplify Payroll by Going Virtual: VAST’s Outsourced Payroll Services

As a small business owner, if you’ve ever been responsible for payroll, you certainly know there’s much more to it than writing checks to your employees a couple of times each month. From keeping accurate records to calculating and paying payroll taxes, payroll is filled with a number of responsibilities that, if neglected, could spin your business’s accounting department into a frenzy.

In order for your employees to be paid on time, someone has to maintain bulletproof records and schedules. For years, this person had to be housed in your office, and most likely on the payroll themselves. They had an intimate knowledge of the ins and outs of your business and ensured that everyone was paid the correct amounts and on time. Sure, it worked, but it’s often difficult for businesses to house a full-time employee to handle payroll. Payroll is oftentimes either simple enough that even with other accounting duties it doesn’t justify someone spending 40 hours per week completing it or it’s so complex that this person spends the majority of their workweek trying to unwind the mess they’ve unintentionally made for themselves. Instead of trying to justify whether or not businesses can afford to pay someone to complete payroll in-office, many business owners are simplifying the process by using outsourced payroll services. More than simplicity, business owners are actually saving money, saving time and increasing their payroll efficiency.

Save Money

Typically, when clients come to us to hand over their payroll, we find out that multiple people in their company were involved in completing payroll. A couple times each month, these people would be tied up with payroll duties instead of completing their daily work tasks. This can drain a company’s performance. By hiring an outsourced payroll service, these employees are free to focus on their primary responsibilities, making your office more productive and saving you money.

Save Time

The following list shows a number of the time-consuming tasks you’ll be able to free yourself and your employees from once you hire an outsourced payroll service:

  • Writing and distributing paychecks

  • Calculating and paying employment taxes

  • Drafting and distributing W-2s and 1099s

  • Investigating any and all paycheck inquiries from employees

Once you and your employees can let go of these duties and know they're being handled professionally and carefully, everyone on your team will be able to refocus their time--possibly gaining more business, improving processes and procedures or scratching off items from the company wish-list.

By hiring an outsourced payroll service, you’re giving yourself the peace of mind to know your payroll is being processed carefully, on-time and correctly. If your payroll is giving you unnecessary stress and keeping you from your primary responsibilities, there’s no reason to avoid looking into a virtual / outsourced payroll service. It’s the route more and more ambitious small business owners are taking--effectively saving money, saving time and increasing efficiency.

Want one last reason you should call to hear about our outsourced payroll services immediately? How about this: it’s estimated that one third of small business that handle their own payroll are slapped with penalties upwards of $800 each year due to payroll mistakes or failure to correctly file payroll taxes. Ouch.

Giving Thanks to All Our Clients

Thanksgiving

A great American tradition is taking a day out of the year to give thanks for all that we have. At VAST, we have so very much to be thankful for. This last year has been absolutely wonderful for us, and all that we have is because of our wonderful clients, regardless of which of our many virtual accounting and virtual bookkeeping services you enjoy. It’s our clients that have made our jobs worth waking up for every morning. To say that you’re what keeps us going is an understatement. Our clients mean so much more than that.

Thank you for believing, like we do, that we truly can revolutionize the way businesses handle their accounting. Our virtual bookkeeping services aim to make the life of a business owner much simpler. You no longer need to invest huge sums of money into an onsite accounting department. For many, this would probably be enough, but we go even further. By making your financial information easy to read, always accurate and with unlimited accessibility, you always have the information you need to make important business decisions.

As virtual bookkeeping and virtual accounting gain more momentum, we are thankful to be your choice for providing all of the related services. Our goal is to make sure that our clients can always rely upon us. We treat our clients like they are the best in the world, because we honestly think they are. We look forward to serving you for countless years to come. But no matter how long we have worked with you, we will always be thankful for your patronage.

This year, as you gather around your Thanksgiving table, enjoying valuable time with your family and friends, we want you to know that your virtual bookkeeping and virtual accounting is well taken care of. And if for some reason, the conversations lead you to thinking about your business, your accounting information is available for you 24/7, 365 days a year. Even on Thanksgiving.

From all of us here at VAST, have a wonderful, carefree Thanksgiving.

A Step Up from Basic Bookkeeping Services with Accuracy You Can Trust

It's amazing how a single missed keystroke can cause so much havoc in the accounting process--clients could flip, business owners could explode their stress balls, and employees could be on the wrong end of some pointing fingers. Yep, handling your own accounting can be frustrating, to say the least. Hitting six instead of nine, or a $475 charge entered as $457, can cause splitting headaches down the road. While they may seem virtually impossible to avoid, VAST can help eliminate these mistakes from day one. We believe our bookkeeping services have helped to change the world of accounting forever.

We place a premium on accuracy, which starts by understanding that human error is unavoidable. In accepting this, we have implemented processes that call for checking and rechecking every keystroke that is entered into every log. If the numbers are wrong from the start, you can bet that the ensuing math will also be off, which is why we believe that no part of the process can exist effectively without checks.

There's no doubt that constant rechecking sounds tedious, but it is one of the key ingredients that make our Reno bookkeeping services trustworthy. Another key ingredient is the mindset. We bring the same attention to detail to every project. It takes a very special kind of person to bring the same mindset to work every day. At VAST, we have searched long and hard to find our virtual bookkeepers and we know they are up to the task day in and day out.

When you become a VAST client, we offer the opportunity to pack up your calculators and rest easy, knowing that your ledger is in good hands. Our Reno bookkeeping services are the best in the biz. We say that boldly because we know that our process works. If you are finally ready to make the decision to outsource your bookkeeping services, we are the right people for you.

 

Call it Virtual Accounting, Call it Outsourced Accounting: Either Way, We’re Scary Good

Keri Pruitt

Whether you call it virtual accounting or outsourced accounting, there is no denying the convenience, accessibility and accuracy that having your accounting handled virtually can provide. As entrepreneurs ourselves here at VAST, we know what it is like to run a business. Through successes and failures, there is always a shortage of one commodity: time. Sometimes, we're guessing, it seems like you spend the entire day running your tail off and end up not getting a single task checked off your list. When you add accounting into the mix, the demands on your time are only increased.

This is where we can help. If you were to visit our office, and meet our staff, we are certain you would be impressed; we are the valedictorians of virtual. VAST has developed a system that keeps your information consistently up-to-date. As soon as we get information, your account is updated and done so in a manner that anyone can follow. Therefore, if your account representative is out of the office for a day, we know exactly how to pick up where they left off. This gives our outsourced accounting service the feel as if we were right in the office with you.

All of your accounts payable and receivable can be forwarded directly to us. We will handle all the work of digging through the complicated numbers and deliver easy to understand reports that can be accessed anywhere, any time. With outsourced accounting, your information is always at your fingertips, which allows you to make those important decisions and focus your time on building your business. VAST is your partner in success; we are dedicated to giving you all the tools you need to succeed and we are scary good at what we do.

Happy Halloween from all of us at VAST.

Traditional Vs. Virtual Accounting

Melanie Jubenville - Staff Accountant

We get a lot of questions about the difference between traditional vs. virtual accounting methods. At their core, there are many similarities. For instance, both have accounts receivable, accounts payable, payroll and reporting. These are at the heart of every effective accounting system. Every business needs to know how much money they have coming in and how much they have going out. This is the purpose of accounts receivable and accounts payable. Once this information is figured out, then there is paying employees and generating reports that illustrate the money flow for any given period.

What makes traditional accounting so different from virtual accounting is the general approach. Traditional accountants still have to make visits to your office and take up valuable time to hash out numbers. They are reliant upon the business owner to give them every single piece of information they need. This can be done by hiring an in-house accounting department or by having an accountant stop by on a monthly or weekly basis to go through the numbers. Virtual accounting is a game changer that makes the old methods--such as paying accountants to come to you physically--simply obsolete.

Many Virtual Accounting firms take care of your account on a daily basis ... virtually. They consistently pay your vendors and accept payment from your clients. The biggest difference is that virtual accounting can handle all of this work from virtual offices (makes sense, right?). This eliminates the need to take up your valuable space and time, freeing you up to do what you do best, run your business.

If you are considering traditional vs. virtual accounting for your business, our account representatives at VAST are here to answer any questions you may have. We are certain that we can free up your schedule and offer an easier process for all of your accounting needs.

Virtual Accounting Firm

Contact us today to find out how to break free from the chains of traditional accounting; we're anxious to help you get started.

Virtual Accounting: Our Core Beliefs

At VAST, we didn’t create a business and then build values into it. Instead, we clearly defined our core beliefs and then built a business around them. Without those core beliefs we fail to function--we wouldn't know who we are; we would lack an identity. Below are the beliefs that establish the foundation on which our entire company stands.

We believe our clients have the right to access their up-to-date financials whenever they choose, regardless of whether or not our offices are open. This is where our virtual accounting services really shine. As our client, you are never more than a click away from all of your valuable financial information.

We believe our clients are entitled to accounting help and recommendations, even if a member of their team is sick, on a ski vacation or getting their tonsils removed. VAST is there for you regardless of who is in the office on the particular day you need assistance. We keep our records tightly organized so that our trusted representatives can answer any of your questions and resolve any issues.

We believe financial knowledge can empower a business. When you know where you stand you are better prepared to make decisions about where you are going. Sounds like something your grandma used to preach to you before school, but around here we firmly believe it.

We believe we never stop earning our clients’ trust. Yes, we offer virtual accounting services and design them to never let our clients down, but there's so much more to our philosophy. We believe we continue to build our reputation every day; it's everything to us and we never risk damaging it.

We believe we can simultaneously be numbers-people and people-people. Sure, we have dedicated our careers to crunching numbers, but our staff loves working with people. When we can make our clients day, we know we are doing our job.

We believe in building relationships based on doing the right thing. Often times this means taking those extra steps in order to ensure accuracy and accountability. However, it is worth the effort to know that our clients can trust their accounting information is safe with us.

Virtual Accounting

We're here to offer you the highest-notch virtual accounting services offered anywhere on the planet. Whether your business is in need of anything from payroll services to a full-blown outsourced CFO, VAST is happy to work with you and start building your trust in us today. Get in touch; we're excited to hear from you.

Less Time at the Desk, More Time in Front of Potential Clients

Many business owners find themselves trapped behind a desk for the entirety of their work day, their work week, their work year. Some probably get out about as much as the office plant next to their desk. There always seems to be so much work to finish that it is practically impossible to get out of the office and in front of potential clients.

Your customers want to see your smiling face, but instead you're stuck in the back office staring at recent accounting figures--trying to make sense of the scattered reports. When you partner with VAST, we offer freedom. Our accounting service will take care of the numbers so you can get out there to meet with the clients that can take your business to the next level.

Stirring new business is the lifeblood of most companies. Once this becomes stagnant, so do the numbers. We want to see your numbers climbing to simply unbelievable heights. However, getting those big clients to meet with you often takes time and networking.  Outsourcing your accounting to an ambitious, accuracy driven virtual service can make a huge difference.

At VAST, we love sitting around crunching numbers; no really, we do. It’s kind of our thing. We’ve dedicated our careers to numbers, and somehow none of us have come out like Milton from Office Space. We put the swag in accounting. We have solutions that can make your accounting easier than you have ever imagined. Our accounting service offers the highest level of expertise with industry leading CFOs on staff. You will have instant access to all your information whenever you want it. Get out from behind that desk; our virtual accounting service will take care of numbers so that you can get in front people and drive your business forward.

Three Tips When Implementing a Virtual Payroll Service

You’re ready to take the big leap into hiring a virtual payroll service, which truly is the fastest, easiest way to get your payroll out consistently and accurately. Whether you are a new business owner or you have been around the track a few times, there are certainly some important facts to know. As VAST jumps in to help you streamline your business with a virtual payroll service, we will give you all the information you need. As you're gearing up for the switch, here are a couple of big-time tips to help the transition go smoothly.

Classify your employees properly. Just because you have an employee who is willing to be paid as an independent contractor does not mean it is legal to pay them this way. If the employee keeps regular hours and performs the same kind of work your company offers, more than likely they will need to be paid as an employee. Of course, there are a few exceptions to this and we can help you navigate the laws surrounding employee classification.

Don’t forget to budget for taxes. Especially for business owners who have never had employees before, taxes can come as a surprise because you are often times required to match employee contributions to Medicare and Social Security. There are also state and federal taxes along with an obligation to contribute to the federal unemployment fund. Failing to budget these expenses from the start can create serious headaches down the line.

Calculate and pay those taxes automatically! When VAST sets up your virtual payroll service, we use Intuit, a secure and trusted program with exceptional reliability and accuracy. With the simple click of a button, Intuit will calculate your payroll taxes for you. It is a great way to avoid all the fees and fines that come with missing IRS deadlines.

Hiring a qualified virtual payroll service can really clear up time in your crazy schedule. Look for a firm that offers timeliness, accuracy and ease of transition when you're making the decision to step into the future of payroll.

Stuff We Love: Swizznet

Swizznet - Cloud Hosting

These days everything is moving to the cloud.  But some cloud providers are better than others. Enter Swizznet – a top winner in the Stuff We Love category!

 Swizznet can host your Quickbooks on the cloud.  And I’m not talking about the stripped down excuse for an accounting system known as Quickbooks Online.  I’m talking a fully functioning, robust 100% complete Quickbooks platform.  If you have multiple companies, you can host them all under your user name.  And this comes with unlimited storage, continuous backup and free tech support all for one low monthly fee per user.  Interested in migrating your files to Swizznet?  At VAST, we offer a no charge Set-It-and-Forget-It package where we get you set up on Swizznet.  We transfer your files, set up your users and get you off and running.  Contact us today for details.