Freelance Virtual Bookkeeper Workflow Map

In this article, we’ve created a starter Freelance Virtual Bookkeeper Workflow Map that you can use to start planning out your product/service delivery and we’ve outlined a few examples of experiments that you can run in your Freelance Virtual Bookkeeper role.

Ready to get started? Download the Workflow Map template or get in touch to discuss how a workflow coach could help you fast-track your business improvement.

Systems & Processes for Freelance Virtual Bookkeeper

The path towards better systems and processes in your Freelance Virtual Bookkeeper role starts with mapping out your most important business processes. Being able to see your business processes laid out visually helps you to collaborate with your team on how to improve and grow. By repeating this collaboration process, you’ll develop a culture of continuous improvement that leads to a growing business and streamlined systems and processes that increase customer & staff experience.

To help you start mapping out your processes, we’ve developed a sample flow for a Freelance Virtual Bookkeeper Workflow Map that you can use with your team to start clarifying your processes and then run Business Experiments so you can build a better business.

Workflow Map For A Freelance Virtual Bookkeeper

1. Initial consultation: Meet with the client to understand their bookkeeping needs and discuss the scope of work.
2. Data collection: Gather all relevant financial documents, such as bank statements, invoices, and receipts.
3. Data entry: Enter the collected financial data into the accounting software, ensuring accuracy and completeness.
4. Reconciliation: Match the recorded transactions with the corresponding bank statements to identify any discrepancies.
5. Financial reporting: Generate regular financial reports, such as profit and loss statements, balance sheets, and cash flow statements.
6. Accounts payable: Manage and process vendor invoices, ensuring timely payments and accurate record-keeping.
7. Accounts receivable: Monitor and track customer payments, send out invoices, and follow up on overdue payments.
8. Payroll processing: Calculate and process employee wages, including tax deductions and benefits, ensuring compliance with relevant regulations.
9. Tax preparation: Prepare and file tax returns, ensuring compliance with tax laws and maximizing deductions.
10. Ongoing support: Provide ongoing support and guidance to the client, answering any bookkeeping-related questions and assisting with financial decision-making

Business Growth & Improvement Experiments

Experiment 1: Implement cloud-based accounting software
Description: Transition from traditional accounting software to a cloud-based accounting system to streamline bookkeeping processes and improve accessibility. This experiment involves migrating all financial data to the new software, training staff on its usage, and ensuring compatibility with existing systems.
Expected Outcome: Increased efficiency in bookkeeping tasks, improved collaboration with clients, and enhanced accessibility to financial data from anywhere, leading to time and cost savings.

Experiment 2: Offer additional services such as financial analysis and forecasting
Description: Expand the range of services offered by the freelance virtual bookkeeper to include financial analysis and forecasting. This experiment involves acquiring the necessary skills and knowledge, updating marketing materials to reflect the new services, and reaching out to existing and potential clients to promote these offerings.
Expected Outcome: Increased client satisfaction and loyalty, higher demand for services, and potential for additional revenue streams by providing valuable financial insights and guidance.

Experiment 3: Develop standardized bookkeeping processes and templates
Description: Create standardized bookkeeping processes and templates to ensure consistency and efficiency in handling client accounts. This experiment involves analyzing existing workflows, identifying areas for improvement, and designing templates that can be easily customized for each client’s needs.
Expected Outcome: Streamlined bookkeeping processes, reduced errors, improved productivity, and enhanced client satisfaction through consistent and professional deliverables.

Experiment 4: Implement automated invoice and payment reminders
Description: Integrate an automated system for sending invoice reminders and tracking payments to improve cash flow management. This experiment involves researching and selecting a suitable software solution, configuring it to match business requirements, and educating clients about the new process.
Expected Outcome: Reduced late payments, improved cash flow, and minimized time spent on manual follow-ups, allowing the bookkeeper to focus on more value-added tasks.

Experiment 5: Establish strategic partnerships with other professionals
Description: Collaborate with complementary professionals, such as tax accountants or business consultants, to offer bundled services or referrals. This experiment involves identifying potential partners, establishing mutually beneficial relationships, and creating a referral system to exchange clients.
Expected Outcome: Increased client base through referrals, expanded service offerings, and improved client satisfaction by providing a comprehensive range of services.

Experiment 6: Invest in professional development and certifications
Description: Continuously enhance professional skills and knowledge by pursuing relevant certifications and attending industry conferences or workshops. This experiment involves researching and selecting appropriate certifications, dedicating time for learning, and updating marketing materials to reflect the enhanced expertise.
Expected Outcome: Increased credibility and trust among clients, improved ability to handle complex financial scenarios, and potential for higher-paying projects due to specialized knowledge.

Experiment 7: Leverage social media and online marketing
Description: Utilize social media platforms and online marketing strategies to increase visibility and attract new clients. This experiment involves creating engaging content, optimizing online profiles, and actively engaging with the target audience through social media channels.
Expected Outcome: Expanded reach and brand awareness, increased inbound leads, and potential for new client acquisitions through effective online marketing efforts

What Next?

The above map and experiments are just a basic outline that you can use to get started on your path towards business improvement. If you’d like custom experiments with the highest ROI, would like to work on multiple workflows in your business (for clients/customers, HR/staff and others) or need someone to help you implement business improvement strategies & software, get in touch to find out whether working with a workflow coach could help fast-track your progress.