In today’s fast-paced construction industry, figuring out the right way to manage your finances and juggle the budgets for construction projects is one of the most important tasks for executives who want to stay competitive and profitable.
Executives often hire in-house teams or outsource with a third-party service for their accounting and bookkeeping tasks. Our team of expert virtual bookkeepers can keep your construction business on top of job costs and financial statements.
If you are on the fence between hiring a traditional in-house bookkeeper or outsourcing to third-party construction bookkeeping services like Virtual Construction Assistants, we will help break down which is best for your growing business.
Efficiency
Traditional bookkeeping usually involves an in-house team managing all financial records and processes during office hours. This can sometimes cause delays if the team is unavailable or requests come in outside of normal working hours. It also requires hiring additional people to manage the busy seasons when workloads increase. This can mean increased overhead costs and added time to find reliable employees.
On the other hand, virtual assistants specialized in construction bookkeeping work remotely and often outside traditional work hours. This gives you more flexibility and ongoing support since they will use cloud-based financial management systems that allow real-time access and updates to financial data from anywhere, at any time. A virtual bookkeeping assistant can make sure all work is complete within a timely manner without delays by factors like limited working hours or hiring new employees.
Cost-Effectiveness
Traditional construction bookkeeping methods come with fixed overhead costs like paying your employees salaries, benefits, workspace, and resources. For small to mid-sized construction companies, these costs can add up.
However, virtual construction assistants give construction business owners a more scalable and flexible service with customized pricing that allows them to pay only for the services they need. This allows you to reduce overhead costs since you will not be paying for additional office space, supplies, and full-time salaries. It also allows you to scale more efficiently, so you are not paying for full-time employees when you are in a slow season or still ramping up your business.
Experience in the Construction Industry
Finding bookkeepers who have experience and knowledge of construction bookkeeping and accounting can be a pretty difficult task. The construction industry has specific financial management methods, and finding someone with specialized knowledge and ongoing training can be helpful.
That is why a good alternative is hiring virtual construction assistants with experience working in the construction industry. Our virtual assistants have experience in construction accounting and financial management, making them a great choice for improving the accuracy and reliability of bookkeeping processes. Construction companies can get personalized help from virtual construction bookkeepers to ensure their financial records are always accurate and up-to-date.
Scalability and Flexibility
When managing a construction business or a project, it can be difficult to know how many people you need on your accounting team. Sometimes, you might have too much work for your current staff, and other times, you might not have enough work to keep everyone busy.
In the past, it was hard to quickly hire and train new employees to match these changes in your workload. But now, with virtual construction bookkeeping assistants, you can scale up your workforce when you need it and cut back when your business is slower without having to hire or lay off workers. This means you can have the right amount of support — without the hassle of hiring and training new employees.
Security and Technology
Traditional bookkeeping methods require you, the business, to manage all of the security and technology for your employees. This includes securing sensitive financial data and maintaining up-to-date bookkeeping software and infrastructure. This can be expensive and require additional IT support for your accounting team.
On the other hand, virtual construction assistants have their own equipment and security protocols that take the responsibility off your plate. Virtual construction assistants usually will use advanced and secure cloud-based bookkeeping platforms to protect all of your financial data and security. Plus, they will keep their software up to date with the latest versions, giving your business access to the latest technological advancements without having to pay those additional expenses.
We will help you find and hire the best construction bookkeeping virtual assistant
Our team offers top-notch construction bookkeeping services, so you can spend less time worrying about project costs and more time growing your business. With our three-step process, we will support you every step of the way to find you the reliable and knowledgeable virtual assistants you need.
- Recruitment Phase – We will meet with you and your talent manager to understand your bookkeeping and accounting needs. Then, we will find two candidates for you to interview and choose the best fit for your team.
- Transition Phase – We will help with onboarding and set-up, including a transition meeting on the first day, once you are ready to hire the candidate. This phase will establish your expectations and communication preferences.
- Services Phase – We will provide regular check-ins and performance reviews to ensure your virtual construction assistant is meeting your expectations. We will be with you every step of the way.
Improve Your Balance Sheet with Virtual Construction Bookkeeping Services
Construction companies face countless challenges when managing their finances. And when you do not have accurate accounting, your business can suffer in the long term, and your company’s profit can suffer.
That is where we can help. Virtual Construction Assistants can help you find the specialized construction bookkeeping support and staffing you need to navigate your income and expenses with ease.
If you are a construction company looking to optimize your balance sheet and improve your profitability, reach out to our team today to discover the benefits of a virtual construction assistant.