Virtual Accountants
VIRTUAL ACCOUNTANTS
Virtual Accountants are hard to find these days. There are a lot of companies outsourcing their virtual accounting service to india. The question is how safe is this? We don’t recommend it due to a difference with the international law. India is in another jurisdiction vs. the U.S.
Next there is a matter of security as far as your personal and company information that is put over into the hands of someone you really don’t know. So as far as privacy, you can kiss that good bye.
Next there is an issue as communication. How do you communicate with this individual? The fact is they do have your banking information along with other personal information. Can you pick up the phone and call them and they pick up. Keep in mind the time difference.
The final issue is economics. Is it really worth outsourcing to india for virtual accountants? The average person in india who does this type of job ask for about $8 – $9 per hour. In the U.S. you can find a person in this economy and pay them $10 – $12 per hour. Yes you may be paying a little more for the U.S. person or company, but you have much more advantages with communication, time difference and the law on your side.
So to summarize, when you plan to hire someone or a company as a virtual accountant, hire someone you can trust and who is not out of the law jurisdiction.