7 Little-Known Facts About Working At A Virtual CPA Firm

Office photos

Roughly 10 years ago, if I would have mentioned my plan of having a “100% Virtual CPA firm” to my colleagues, they would have looked at me and laughed. The idea of a virtual workplace was only heard about in the startup tech world, and my “progressive” mind was often shut down by my fellow accounting peers and clients.

Fast Forward 10 years, I am now running a 15 person Virtual CPA firm that allows 100% remote options to my team members. With a very low employee turnover rate, coupled with clients who are thrilled we are not invading their office every year, developing a flexible work environment has been one of the best decisions I have made as a CPA firm owner.

To give you an insight into the world of a 100% virtual CPA firm, here is a list of the top 7 unique aspects of creating a Virtual CPA Firm.

Let’s dive in.

  1. Zero Morning Commutes

When you work for a virtual CPA firm, morning commutes are no longer a stress and strain on your work day. Instead of having to waste 30-45 minutes commuting to and from work, you can utilize that time towards more important things such as enjoying a morning walk or getting caught up on your To-do scheduled for that day.

In addition, when I do want to come into the physical office, I can skip the traffic and show up a few hours after most people start their workday.

  1. Saving Money on Lunch Meals

By not having to worry about packing a lunch, or worse, spending $15-20 bucks on a take out lunch meal that didn’t even taste good, lunch meals for remote workers become much easier to handle.

If you do the math, not spending $15 per lunch meal with coworkers will save you $75 bucks/week or $300/mo. It’s a small savings that can add up quickly.

Eating at home vs. at work

  1. Chance To Explore Your Passions

When you are working remote, the biggest factor in how successful you are all boils down to time management. As stated above, remote workers are more than likely granted more hours of the day to spend on things they want to be doing (instead of using that time to commute to work).

This new found freedom allows the remote workers to take breaks throughout their day to work on things that they enjoy. This could be anything from novel writing, to updating their Etsy page to even enhancing their design skills by updating a profile on Elance.

Instead of just having the weekends to work on passion projects, a 30 minute lunch break each day could significantly enhance the remote workers mood and enjoyment of their overall workday.

  1. Recruiting Top Talent

As a CPA Firm owner, I have found that offering remote flexibility has allowed our company to develop and grow with “A” players found around the globe, instead of what I could find in the suburbs of Chicago.

Our virtual CPA firm is able to bring in the top talent we need to grow our specialty client basis and not have to be limited to the talent provided locally. This has been the single biggest factor as to our company success.

  1. Clients Demands

When I head out on client proposals, one of the items that always is on the table for discussion is the structure of my firm. Since we are 100% remote, I inform the potential client that we will be working off site and in need of scanned documents to complete the accounting work.

The pro side to this allows us to weed out any clients that are adverse to technology and looking for a more traditional firm.

When having a client that expects in person engagement team, we are not able to bring on that client and complete the work. Therefore, we miss out on certain engagement opportunity due to the structure and requirements of our firm.

However, there are plenty of CPA firms on the market that offer traditional services and therefore, we refer those firms instead of offer our services.

  1. Longer Work Hours

When you take out the hour of commute time, each way, plus the freed up time from not having to go out to lunch, you are looking at at least an extra 3 hours in your workday to get things done.

As a remote worker, you have the time, freedom and even quiet to knock out as many things as possible within the work day.

Although the freed up time sounds great, it usually means you are working for an additional 3  hours that your co-workers are not putting in.

Plus, if you are getting paid on a salary basis, chances are you are not compensated for the extra work you are putting in.

Working hours from home

  1. Remote Work = Professional Autonomy

Having autonomy in the workplace is one of the top qualities most millennial CPAs are looking for. Not having your boss look over your shoulder every 5 minutes allows you to enhance your work productivity, creativity and overall enjoyment of the workday.

Therefore, by being 100% remote, you are not in an office with someone constantly asking what you are up to. Instead, you are receiving emails and answering chats that become less tiresome than an in-person questioning of your work performance.

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