Improving the Bottom Line: The Benefits of Virtual Offices for Accountants

by Louie Beaupre
1/8/2015 11:15:21 AM

How Virtual Office Spaces Help Save You Money While Protecting Your Image

Accountants know the importance of saving their clients’ money, yet these same accountants are often wasting dollars on brick-and-mortar offices. Recently, however, the number of accountants transitioning to virtual office spaces has been on the rise. According to a recent article in the Journal of Accountancy, between 5% and 10% of all accounting firms are now operating via virtual offices, and that number is expected to rise.

Why Are Accountants Making the Move?

This same article shows the major reason for accountants abandoning the brick-and-mortar for the virtual: financial. Case studies showed that accountants saved upwards of $100,000 per year. This not only includes eliminating paying often astronomical rent on a monthly basis, but also reducing commuting – saving money on gas and automobile wear and tear.

With the advent of cloud computing, accountants can access documents and client files from nearly anywhere, and most tax software is also cloud-based. Owners and staff alike can work from virtually anywhere as long as they have access to a computer and an Internet connection.

Do You Need an Office At All?

While the stats may indicate that an accountant doesn’t need an office at all, nothing could be further from the truth. An entrepreneurial accountant can certainly do most tasks from his/her home office. An office, however, lends credibility to a business. Clients are more apt to trust someone that has a physical address. Perception can lead to either new business or potential stagnation.

Physical addresses are also required for a Google Places account. Without a physical location, the business won’t be listed when people search for local accountants. More than likely, accountants won’t want to list their home address. Further, they may not even service clients near their home location. They would want an address instead in a larger metropolitan or similar target area.

Virtual Offices as a Solution

Virtual offices offer accountants all the advantages of a physical office without the sometimes crippling overhead of paying rent on a physical location on a monthly basis. These offices are available on a monthly or as-needed basis – and are significantly less expensive than standard office spaces. Virtual offices provide businesses with a mailing addresses, but they also do more than just offer a business front.

Many virtual offices come with mail and reception services, adding to business integrity. Another major advantage of a virtual office is the meeting rooms. While many accountants do meet clients at their homes or businesses, or at the accountants’ home, virtual meeting rooms are typically available to rent for “in-house” meetings.

An entrepreneurial accountant doesn’t have to choose between saving money and having a physical space. A virtual office space provides the best of both worlds.

Additional Resources to Help Grow your Small Business

White Paper

How Mail Services and Professional Addresses Help Entrepreneurs Succeed

In today's mobile economy, digital entrepreneurs often work from varying locations. While this can help save money and increase agility, it comes with one big drawback:

Read More >
White Paper

Virtual Assistants Provide a Competitive Edge

Countless small business owners rely on remote assistants or offsite receptionists to help with critical organizational duties. While some are content to offload simple tasks to self-employed, stay-at-home support people, others demand more comprehensive services...NULL

Read More >
White Paper

Virtual Assistants & Remote Assistants: A Comparison

While the traditional virtual assistant is likely to work from home, an executive-level virtual assistant is part of a greater brick-and-mortar presence. This fundamental difference opens the door for extensive training opportunities that broaden the professional's support capabilities.

Read More >
White Paper

Overview of Virtual Offices, Executive Suites and Co-Working Spaces

Work has changed. In an age of instant communication, cloud-based applications, and workplace versatility, the era of the traditional office culture has come to an end. Providers of virtual offices, executive suites and co-working spaces have effectively liberated the nation’s work culture, adding dynamic and energizing new choices...

Read More >
White Paper

Part 1 of 4: Introducing the SBA

For entrepreneurs and small business owners, navigating the tricky terrain of creating a sound business plan, forecasting for growth and developing an operative growth strategy can be a major challenge. Fortunately, American entrepreneurs and operators have access to one of the most effective resources in the worldwide market...

Read More >
White Paper

Part 2 of 4: Starting a Small Business

Navigating the complex terrain of creating a sound business plan, forecasting for growth and developing an operative growth strategy can be a challenge for entrepreneurs and small business owners. Fortunately, American entrepreneurs have access to one of the most effective resources in the world via the Small Business Administration (SBA).
... Click to read more

Read More >
White Paper

Part 3 of 4: Managing a Small Business

Congratulations! You have gotten your small business up and running. Now what? This part of our four-part series on leveraging the Small Business Administration to help you launch and manage a small business will focus on the operational aspects of running a business. Whether you need leadership strategies, day-to-day decision making skills
... Click to read more

Read More >
White Paper

Part 4 of 4: Marketing, Sales and Contracting

Understanding marketing and sales as well as the technical complexity of our Internet-driven society gives entrepreneurs a distinct advantage over the competition. This final segment of our four-part report will take a deeper dive into the logistics and philosophy of marketing and sales and their impact on your business success.
... Click to read more

Read More >
White Paper

DIY Marketing Tools

If a business isn’t marketing, its potential customers are not finding it. Small to medium size businesses often struggle with spending hundreds of thousands of dollars on marketing. New DIY marketing tools, however, have eliminated the need to spend astronomical amounts on online and traditional marketing. These tools
... Click to read more

Read More >
White Paper

Virtual Office For Legal Professionals

Law firms (large and small) and solo legal practitioners alike can use virtual office services and spaces to run their entire legal operations or as a supplement to a home office or traditional brick-and-mortar offices. Virtual office services can be particularly useful during trial preparation
... Click to read more

Read More >
White Paper

Finance & Tax Professionals

Finance and tax professionals, whether they work solo or as part of a larger firm, can use virtual office spaces and services to stay on top of their workloads, especially during the busy tax season. Professional virtual office spaces can be particularly useful when back-to-back client meetings are necessary...

Read More >
White Paper

Traveling Entrepreneur

As business people and entrepreneurs continually strive to grow their business, doing so frequently involves traveling around the country to attend networking or tradeshow events, meeting clients and prospects on their own turf, and getting some face-time with colleagues, contractors or employees who may operate in a remote location. Preparation
... Click to read more

Read More >
White Paper

Virtual Office Eguide

Have you ever wondered why some small businesses are successful and others are not and what do these successful companies do to gain an edge over their competition? Through our years of experience
... Click to read more

Read More >