What can a Financial Service Virtual Assistant Do for You? - Outsource Access

What can a Financial Service Virtual Assistant Do for You?

What can a Financial Service Virtual Assistant Do for You?

What can a Financial Service Virtual Assistant Do for You?

Virtual assistants (VA) are heaven-sent for entrepreneurs, no matter the industry. If you are a busy business owner, there are so many reasons why you should hire a virtual assistant

VAs are an excellent and cost-efficient source of help for critical tasks like answering emails, taking calls, scheduling meetings, and so much more. But did you know that they can be of great assistance in the financial services sector, too?

That’s right. You can enlist a VA specializing in financial services to assist you with your business. You can hire a financial services VA to help manage bank statements and incoming invoices from different partners. And, as an added benefit, a VA can help you take the first steps towards effective delegation.

You can entrust top critical business transactions to a highly experienced financial service VA so you can get important tasks checked off with ease. Knowing you can depend on someone specialized in these tasks, plus the fact that they are cost-efficient to hire, are just some of the many benefits of a virtual assistant.

If you’re wondering what else a financial services VA can do, this article will shed light on the perks.

  • Handle banking and invoicing errands

If you have any outstanding deals with business partners or contractors, your virtual assistant can issue invoices for you. This allows you to focus on the next project and keeps your business up and running with the necessary payments that need to be made to your account.

Once the payment is received, they can forward the check so that you can quickly encash it via your mobile app. The result is a well-funded business with updated payments. On the other hand, if you are the payer, your VA can notify you of any existing bills you need to settle. 

  • Perform light accounting tasks

While a financial services virtual assistant will not replace an accountant, they can certainly work together when it comes to keeping track of daily expenses, issued payments, and account receivables. This even includes assistance in preparing your year-end accounting reports.

This makes sense if your VA books flights, accommodations, and transportation options for you or order online on your behalf because they are already on-track with online receipts and records of all your outgoing transactions. Similarly, if you are expecting a refund, debt repayment, or pending business deal payment, they can take note of this and update your financial books so you are aware of your budget.

This practice will not just be more efficient and organized, but it will also make sure your money is all accounted for and is going where it needs to go.

  • Perform business transactions on your behalf

Need something last minute? You can have your financial VA search and pick it out for you online. They can take care of the whole process from selection to check out—all you need to do is wait for the item to arrive on your doorstep or your email inbox, depending on what you need.

It is worth noting that your financial VA can be held accountable for managing your business account, which should be separate from your personal one. This is a sound financial practice for any businessperson as it keeps things more secure and organized down the line. 

With a different account, your VA can generate reports and clear financial statements that match up with every purchase you have made.

  • Follow up on unpaid balances

In a perfect world, people pay you on time. Unfortunately, sometimes, unexpected delays can occur. Your VA can keep tabs on these unpaid balances and follow up on any outstanding invoices and bills to avoid any financial setbacks. Having clear checks and balances is essential for any company, big or small—and having a dedicated assistant can help you achieve that.

  • Prepare paperwork for taxes

Who even likes preparing paperwork for taxes? Dealing with deadlines and requirements ready can be a lot to deal with. Especially if you’re a solopreneur and your time is needed elsewhere in managing your business. With your financial services VA’s help, you can have your bookkeeping accomplished. That way, you are sure that you can file your returns on time without having to break a sweat.

Bring in the Experts

Having a financial services VA in your corner can speed things up with your company’s financial management. After all, your capital and resources should be managed well if you want to see your business truly flourish and grow. If you are looking to hire a virtual assistant, Outsource Access has your back.

If you want to learn more about our process of matching you with the best VA for your needs, book a call with us today! Help us help you focus on what truly matters—your business.