Supporting the Finance Side of your Business.

And why you didn’t know a VA could help you with it, until now!

When it comes to business finance, a virtual assistant might not be the first profession that springs to mind when you’re looking for support. That’s why I wanted to delve a bit into how I can help you. Even though I’m not technically the “numbers person”, what I do is focus on structure, process and organisation when it comes to getting you crystal clear on what you are paying, what you’re paying for, who you're paying, and ultimately, get you financial peace of mind.

Proper Invoicing Tracking

I recently talked about being there for a client during a health crisis. Raising invoices and making sure she got paid whilst she was in hospital became an important role for me. Since then, other services for clients have included -

·      providing invoice templates

·      proper invoice tracking and PO systems for clients

·      managing spreadsheets tracking from PO to Invoice paid

·      dealing with invoice queries, both incoming and outgoing

·      paying suppliers and tracking manual payments

I’ve also ‘chased’ outstanding payments from customers for clients by emailing or picking up the phone. In my experience, I found that when that payment request comes from a second party, i.e. your VA, it provides that extra, professional nudge to those pesky late payers! As well as taking the burden away from you.

Suppliers and Payments / Finance Admin

Whilst another client of mine has automatic systems in place, he still has around a dozen manual payments to make each month. I have access to his bank account and raise what he needs to pay, documenting everything in a spreadsheet that tracks the payments. Some of these payments are made abroad to the USA and Europe, so we're also aware of those extra fees and processes.

As a bit of a niche area - for IT Companies, I also help to manage software and licence subscriptions. Your customers may need to reallocate licences or have a high staff turnover and licences, for example from Microsoft and Google, need to be purchased or reallocated on a regular basis. It can be cumbersome but I help you keep track of these, so you don’t end up over-subscribing to anything for another year!

Did you know?

There are key system and process shifts happening currently for Sole Traders when it comes to tax assessment. Depending on your income levels, it is now mandatory for sole traders and landlords to use an approved finance tool and submit quarterly tax reports. Watch this space and give me a shout when you are needing extra support, on getting clear on what you need for HMRC and staying on top of your business finances.

Follow the Journey - Boey VA - Virtual Assistant Birmingham - more than just a VA - helping business owners streamline and simplify how they work - delivering high-quality and dedicated support - reliable, resourceful, remote.