Virtual Accounting for your clients - What it can offer your accountancy firm.

I used to have a routine of heading to a formal office dressed in a suit five days a week. By routine, I mean we were forced to wear a suit 5 days a week. Thankfully, Fridays provided a small escape when I could ditch the suit and opt for a more casual look, minus the tie.

Fortunately, those days are long behind me, as are the traditional, monotonous office settings, pointless meetings, and strict schedules. Nowadays, you have the freedom to share your expertise from the comfort of your own space. Whether you're in your pajamas (although not recommended) or enjoying a latte at a café, you are in control of your hours and location. No more grueling commutes or the office politics that come with it – just pure, unadulterated productivity.

In an era where "virtual" is the go-to term for convenience, it's high time accountants recognize its significance. Virtual accounting services are here to stay and are not limited to tech-savvy firms or clients; they offer advantages to both accountants and their clientele.

Virtual accountancy breaks down geographical barriers, enabling you to serve clients from far and wide. During my tenure at accounting firms, we had more clients outside Victoria than within, and the same holds true for the outsourcing firm I currently manage (we do a lot of SMSF outsourcing).

You can tap into the entire Australian market without ever setting foot on a plane. Technology allows you to connect with clients from diverse locations, from Timbuktu to Tahiti. A decade ago, I conducted business meetings from Trafalgar Square McDonald's with unreliable Wi-Fi, and yet, we secured one of our first clients at Qatar airport's lounge.

Back then, technology had its limitations, with sketchy Skype connections and guiding clients through online video meetings. Post-pandemic, everyone is well-versed in Zoom, which was a mystery during my time at Accountancy Online.

The benefits of offering virtual accounting services extend to trimming overhead costs, bid farewell to office rent, utility bills, and endless supplies of coffee and snacks. These savings can be passed on to clients or bolster your own financials.

In the ever-changing world of accounting, virtual services offer flexibility, efficiency, and enhanced client satisfaction when executed correctly. If you haven't already embraced this approach, consider integrating it alongside your current services and clientele.

I'm Kane Munro, and I'm here to answer any questions or delve into more topics related to my experience in accounting. Feel free to reach out via DM, email through www.activeoutsourcing.com.au, or leave a comment wherever you come across this video. Your feedback is always welcome.