Entrepreneurial Spirit

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.

 

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 Accounts Receivable: Managing the Mayhem

When business is good, Accounts Receivable can be your favorite report to review.

What your customers pay you is in effect the lifeblood of your company and its future. At VAST, we can make that report look even more impressive. When you sign up for our virtual accounts receivable, we take care of all the work that goes into managing it and send you a simple, easy to read report. In fact, this report is not something you only get to see say on a Wednesday at 11 a.m. Instead, you will be able to get up-to-the-minute reporting anytime you have the itch.

VAST takes care of all the less-than-fun parts of your virtual accounts receivable for you. We can even take the initiative to bill your clients for you. When they don’t respond we will help track them down on your behalf. Once their payment is received, we make haste in updating your virtual accounts receivable report promptly. When you are on the go, making your business work, you need information about your money immediately. As the partner who is interested in facilitating your success and helping you reach unimaginable heights, we work to always keep you informed.

Once a payment is received, we will also do the legwork of getting it into your bank account. By making deposits for you, often within the same day, we are removing any delays that could hold you back from making those important business decisions. It is our commitment at VAST to never hold our clients back, but to always be propelling them forward. It is this attitude, combined with the unbelievable services we offer, like our virtual accounts receivable, ahem, that makes us the ideal partner for businesses of every size and shape.

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.

How Going Virtual Can Streamline your Small Business Accounting

How Virtual Accounting Can Change Your Business

It has been said by countless small business owners that there simply aren’t enough hours in the day. At VAST, we feel no need to argue with that. We could certainly do with a couple of extra hours—maybe finish that “Why We Love Accounting” manuscript that has been collecting dust in the corner. The truth of the matter is that a little bit of free time would be welcome in most people’s schedules, and for small business owners, those hours would most likely go right back into their businesses.

Building a business into a success is an all-consuming prospect. But what if you could have that extra time? Going virtual can really streamline your small business accounting. All the time you are currently dumping into crunching numbers could be spent doing what you do best: running your business. VAST is like a horse chomping at the bit before a race; we are ready to jump in and get started.

Not only will going virtual with VAST save you the time of dealing with your small business accounting, it'll also give you access to resources that are largely unavailable to most small businesses that are out there on their own. We can put you face-to-face with one of our very experienced CFOs to discuss the direction your business is heading. Say you land a big contract and you need to make adjustments to meet the obligations that come with it; if it has to do with numbers, we’ve most likely been there and know how to approach the situation.

As you build your business, don’t let small business accounting bog you down. Let VAST be the partner that is always there with the helping hand. Together, we will streamline all your processes and get your business running as smoothly as possible. You never know, your business could be so efficient that you get a little bit of well deserved free time.

Online Accounting Service Helps Launch New Businesses

VAST Launch

Starting a new business is a hectic process. There is so much to do and all you want is to open your doors for business. If it’s your first time on the entrepreneur merry-go-round, the process can seem overwhelmingly complicated. Besides, who really knows the difference between a Limited Liability Corporation, a C Corporation and an S Corporation? Well, honestly, we do and we would love to help you figure out exactly which entity would work best for your company. VAST is a comprehensive resource that can help you make and then implement these decisions.

However, figuring out what kind of entity best fits your company is only the tip of the daunting iceberg. There are also the tasks of setting up a bank account, applying for an Employer Identification Number (EIN), creating budget and cash flow templates, and setting up a QuickBooks file. With so much to do on the accounting side alone, it is easy to understand why a business owner can become overwhelmed even before they cut the ribbon.

If getting your system together is proving challenging, our virtual service is here for support. We know that you want to build the right foundation, but you want it to be an elastic foundation that can grow and expand to meet your company's needs as it grows. This seems like no easy task, but since our inception, VAST has aimed to make life easier for busy business owners. Now, how would we be living up to this if we didn’t help startup companies get their feet firmly underneath them? This is why we are revealing our new package, VAST:Launch.

Sure, we could keep our secrets locked up in a shed or basement somewhere, but we want you to succeed. So we are dropping the curtain and sharing our knowledge with ambitious business owners everywhere. If you want someone else to magically make all your accounting needs just appear … you got it. Contact us to learn more and sign up for VAST:Launch today Our online accounting service will build the foundation so you can put your laser focus on your company's success.

Online Accounting Service

VAST (sounds life fast, feels like trust)

Clear Up Your Schedule With Virtual Accounting

The world seems like it is spinning faster each day. For business owners, the pace is nearing hyper speed. With so much to do, it may be difficult to get to everything on your daily list. While there are many priorities, your accounting is definitely worth every bit of attention you can give it. The problem is that it never goes away. Every minute you miss today is doubled tomorrow. Before you know it, your inbox has taken over your entire desk.

Now the solution for this may be to come into work extra days, throw on you green visor (the signature accessory of every accountant) and get to work, plugging away on your calculator until the sunsets, or you could go virtual. Everything else is giving way to technology, might as well let your accounting do it as well. We are the Virtual Accounting Services Team, aka V.A.S.T. We think this name is pretty slick because we offer a vast array of virtual accounting services that are all specifically designed to make the busy entrepreneur’s life a little bit easier.

We don’t need to group a bunch of kids around a table and ask them which is better: easy or hard? Our point is simple enough. When you decide to go with virtual accounting for your business, you get the ease and accessibility of an in house accountant at a fraction of the cost. This simply translates to an affordable option to clear up your schedule for the tasks that can only be done by you.

Not only does our virtual accounting clear your plate, it is handled by some of the best accountants imaginable. We have credible CFOs on staff that can step in and help your business grown in any number of ways. Don't limit the dreams you have for your company because of time constraints; clear up your schedule to dream VAST.

Virtual Accounts Payable: How it Works

Virtual Accounts Payable

It is everyone’s favorite chore: paying the bills. With VAST, you get to take that old calculator and throw it in file 13 (that special file in every office that we only put items in but never remove). In fact, our virtual accounts payable is so efficient that you may actually be able to clear just enough space for the varnished wood of the desktop to finally see sunlight in a few places. Now we know this is a big claim, but we intend on living up to it.

VAST provides outsourced accounting that can honestly live up to all of your companies accounting needs. Imagine never having to deal with a bill from a vendor ever again. We can have them mail their invoices directly to us. Once approved, a check will be in the mail faster than you can say pneumonoultramicroscopicsilicovolcanoconiosis. Hey, it may be the longest word in the English language, and could take a few minutes to figure out how to say, but you get the point.

On top of being fast, this also makes for easy accounting on your part. Your only obligation is to give us your approval. As an added bonus, our bookkeepers will also take care of the ever-tedious task of reconciling your credit card statements. Every team member is overseen by experienced certified public accountants and chief financial officers, so these guys and gals know what they are doing. With us on your side, your virtual accounting will always be running like a well-oiled machine.

If you are tired of handling all the numbers, then our online bookkeeping services are ideal for you. Whether you want us just to handle your virtual accounts payable or your entire accounting operation we have to tools to get it done. Let us be your outsourced accountants.

3 Big Tax Tips for the Busy Entrepreneur

No need to burden you with every little tax code in the book on this one. While there are dozens of tips that could potentially help your business, there is no need to overcomplicate the issue. The last hassle a business owner needs is a cumbersome list of tax tips to try and keep in mind throughout the year or to waste their day digging through complicated tax lingo. Here are three big tax tips that will help you drive through each tax year safely.

1.     Personal and business expenses are friendly but not intimate. Too many entrepreneurs allow their expenses to comingle in their accounting. While it may seem like they are hitting it off, in reality they are making your tax preparation far more complicated. Just like in a relationship, when things get complicated someone always ends up getting hurt. In this case, the only person who can get hurt is you, so keep those hands above the waist and visible distance between your business and personal expenses.

2.     Procrastinators, check your bags at the door. Don’t wait for the last minute, keep up to date on your estimated quarterly payments. Procrastination gets the best of us all at times. While it may be warranted to put off a trip to the DMV, and those ever-so-cheerful clerks, taking your time about getting around to your taxes is no bueno. Get those quarterly payments in on time, every time. When January rolls around and you are going through your reporting, you will be glad you did.

3.     Tax preparation is a team sport. Don’t wade off into the deep end alone. By hiring a knowledgeable and dedicated virtual accounting service your information will always be accurate and well organized. Come tax season you can call on your team to be there for the assist. Plus, we will maximize your potential for deductions, ensuring that you don’t pay more than you owe.

The IRS may be big and bad, but you don’t have to be the one who gets caught alone in the woods unprepared. These three tips can help you get safely through tax season without any surprises laying in wait at the end of the journey.

Virtual Accounting Service

VAST is a Reno-based virtual accounting service offering Virtual Bookkeeping, Outsourced Accounts Payable and Receivable and much more.

Wherever You Go, There You Are

I recently read a travel review from a woman who went to a five star Eco resort on a peninsula in Costa Rica.  All of the other reviews raved about the location, beauty, culture... This woman bitched about the sound of the birds.  Really?  It made me wonder if she would ever be happy anywhere.  But, then again, we all have a certain capacity for malcontent. Our ability to grow disenchanted or stagnant as humans is really astounding.  My husband and i joke about how when getting his MBA at USD, his apartment directly faced the fireworks at Sea World.  I thought this was the coolest thing i had ever heard!  But, the fireworks quickly lost their appeal and he and his roommates would close the windows and drapes with a sigh and a groan to be away from this annoyance after not too many shows...shows that we now purposely book rooms to see when we visit San Diego!

Do you love what you do?  I would imagine that the answer for most of you is a resounding...sometimes.  Being an entrepreneur, like any other adventure, has its ups and downs.  Sometimes we think, "I am so lucky to be able to do what I love each and every day!" And other days we think "what the Hell was I thinking?  I'm going to go get a normal job!"

But, wherever you go, there you are.  If you are an entrepreneur at heart, there is probably no such thing as a normal job for the likes of you.  You need to march to the beat of your own drum - in good times and bad.

Staying focused on the good, sometimes amazing, aspects of being an entrepreneur can keep you away from the thoughts of the bad, sometimes disastrous, parts that can derail your company's success.

Here is a sure fire focus list to ensure that wherever you are, is where you want to be:

1. The Compare and Contrast: reimagine the "day job" you had before you had your own company.  For me, this would entail a 270 degree view of gray felt, gray Formica, gray filing cabinets and gray carpet all topped with fluorescent lights while earning slave wages and working insane hours.  What does it mean for you?

Now envision yourself at your desk in your company on a great day.  Maybe you just won a large contract or were approved for a patent on a product you designed.  Maybe it was something a simple as getting your company's first printed brochure delivered.  How great did that day feel?

2. Fix what you can Fix:  if I ever get overwhelmed and feel like I no longer enjoy the entrepreneurial experience, I have a ritual that I make myself go through.  First, I get out of the office and go somewhere that I can be alone and think.  write down absolutely everything that you hate about your job, company, etc.  Now do the same with everything you love about it. This is just brainstorming.  Write or record everything that comes to mind- positive or negative.

The next step is that for every negative, you are going to write a doable solution.  Quit shaking your head.  This can be done and every problem has a solution even if that solution is to tell yourself to get over it.

When you are done with the exercise, you will have an action plan to attack every negative you listed.  Keep this visible (obviously somewhere only you can see so as to not freak out anyone affected) and stay focused on implementing every solution to all of the negatives you listed.

3. Control what you can control:  We all know the serenity prayer, right?  Grant me the serenity to accept the things I cannot change, courage to change the things I can and the wisdom to know the difference.  I have a fourth take on this.  Acknowledge what you can't control, but work to control how those things affect you.

For example, You can't control the tax laws in our country anymore than you can control crazy family members that drive you mad.  But, what you can do, is actively plan for and mitigate any negative effects either have on your life.  You can either be complacent and let the tax code have its way with you or you can aggressively plan for taxes to mitigate their effect.

Try these strategies for your business and also your role within it.  You may just find that wherever you are, you are happy to be!