Every effective accounting department can be broken into four main areas: Accounts Receivable, Accounts Payable, Payroll, and Reporting. We call this the anatomy of accounting. Each area has a specific and important role to play and when any of these sections are not performing at their highest potential, the system as a whole can be weighted down. In order to keep your virtual accounting running accurately and at its peak performance, each section has to be carefully maintained. To detail exactly how each section contributes to the whole, we've examined each one-by-one: Virtual Accounts Receivable
This portion of your virtual accounting is simply the money your business is taking in. It consists of billing clients and entering invoices, as well as making and posting deposits. As we keep track of the money your company is earning, accuracy is pinnacle. Tracking the inflow of cash can be critical for making future business decisions.
Virtual Accounts Payable
Probably the least favorite part of virtual accounting for most business owners is accounts payable. This section takes care of money your business owes others. VAST can help you pay bills, credit cards and perform statement reconciliations. Ensuring that you are not overlooking any bills or paying too much is our priority in handling this section of your virtual accounting.
Virtual Payroll Service
Your employees work hard for you, and VAST makes paying them for their hard work simple. With Intuit, we will process their taxes and issue a check automatically every pay period. At the end of the year, filing taxes will be a cinch, because we will have kept Intuit thoroughly updated.
Often the most neglected of all accounting services, reporting is a critical part of the process. With accurate virtual reporting, VAST gives you all the tools to manage your business and make critical decisions about the future. We reconcile all of your accounts to ensure accuracy and deliver detailed, easy-to-understand reports.
When the anatomy of your accounting is healthy and running efficiently, you can be certain that the information you need is always a click away with our virtual accounting services. When you work with VAST, we make sure that every part of the accounting process is working at peak performance. No matter how simple or complicated your accounting might be, we have the tools to manage it accurately. We understand the anatomy of accounting, and we bring this knowledge to providing exceptional virtual accounting services for our clients.