Accounting
Your business needs a financial professional to assist you with accounts payable, receivable, and all those other transactional processes to support your financial needs. Your Victory Virtual Accounting Specialist will provide the exact services you need for your e-commerce, payroll processing, taxes, and financial review and analysis.
Monthly data
integration and reconciling in Quickbooks or Xero
Your Accounting Specialist will integrate and reconcile data within Quickbooks and Xero, effectively connecting your accounting systems, and ensuring that your records are updated and accurate. Any discrepancies can quickly be identified and handled correctly.
Monthly reports
Income statement, balance sheet, and cash flow report
Owning a business means you have to keep records and create reports. Your Victory Virtual Accounting Specialist will prepare your financial statements (income, balance sheets, cash flow reports) so you can focus on the results of the report instead of the creation of them. They will help you gauge your business performance by analyzing your financial data and suggest ways you can improve.
Year-end
tax-ready financial statements
For business owners, tax season is year-round. Let your Accounting Specialist collect and prepare the documents and forms needed to file your business taxes, including sales tax and 1099 filings, so all the tax requirements are met, both quarterly and annually. Your Accounting Specialist will also help to pinpoint any areas of possible tax savings and how to financially plan for the business’s success.
eCommerce
specific sales and product reports
The requirements for operating within eCommerce can be quite complex. A virtual accountant can help you by setting up your record-keeping system and maintaining it to ensure your business complies with the eCommerce regulations and laws. From processing fees, chargebacks, returns, and sales tax, your Accounting Specialist can also provide you with more insight into your financial situation so you can forecast appropriately.
AP & AR handling
AP and AR comprise a large part of your company’s financial accounts. You need to stay on top of the suppliers and creditors your company owes amounts to, as well as keep track of the customers who have not yet paid for the goods or services they’ve received from you. Your Victory Virtual Accounting Specialist will keep track of the money that flows in and out of your business to make sure suppliers are paid on time and the company is receiving customer payments on time.
Tracking inventory
Did you know in some industries, inventory tracking is a legal requirement? When your company deals with tangible goods and products, you need a quality inventory tracking system and a professional to maintain it. Your Accounting Specialist can assist you in all facets of inventory tracking, such as knowing when to order more products, planning for production schedules and managing your supply chain, fulfilling customer orders efficiently, forecasting future demands, and identifying slow-moving items to reduce the risk of excess inventory.
Running payroll
Your business cannot succeed without your team of employees, and they appreciate being paid on time. Calculating and processing payroll, handling direct deposits, providing you with quarterly and year-end tax reports, and tax filing and payments are just some of the tasks your Accounting Specialist can take off your hands.
Bookkeeping catch-up services
There’s a lot to running a business, and sometimes you can fall behind. A Victory Virtual Accounting Specialist can help you catch up on those bookkeeping tasks that have slipped through the cracks. Reviewing and organizing all of your recent financial transactions, reconciling your accounts, and identifying and fixing any discrepancies is a labor-intensive process that requires the professional attention to detail your Accounting Specialist can provide.
How it Works
Step 1.
DISCOVERY MEETING
Meet with our Discovery Director, who will get to know your accounting needs to ensure you’re paired with the best possible Virtual Accountant.
Step 2.
PLACEMENT PROCESS
With a full understanding of your needs, your Client Services Specialist will select 2-3 top candidates from our large database of US-based, professional virtual accountants. We will interview the candidates for you and select your best match within one week.
Step 3.
KICKOFF MEETING
The official start to your partnership with your Virtual Accountant starts here. Our team will set up the introduction meeting, where you’ll meet with your Virtual Accountant and Client Support Specialist to set your initial expectations, plan for communication, and get you one step closer to achieving your financial goals.
Step 4.
ONBOARDING
During Onboarding, you will work directly with your Virtual Accountant to orient them on your accounting software, accounting method, and immediate and long-term needs (i.e., monthly reports, running payroll, catch-up services).
Step 5.
PARTNERSHIP
Ongoing check-ins are just part of the support you receive throughout your partnership with Victory Virtual. We strive to be proactive to ensure that your accounting needs are completely taken care of so you can focus on growing your business, not counting pennies.
Step 6.
OUR GUARANTEE
Victory Virtual guarantees you will be 100% satisfied with your Virtual Accountant.