Hello guys,

I have just started looking for potential clients for my VA bookkeeping business.
However I am based in Pakistan.

Can you guys comment on how I can secure myself for services provided to clients in USA. I know once an agreement falls into international jurisdiction things get complicated and often heard very expensive, which obviously would not suit me as I am just starting my business.

Can you guys please suggest how I can manage this, and likewise a potential client would want to secure themselves that I do provide services to them, and keep their company data confidential. What way can they secure themselves.

Thanks in advance.

Offshore,

I am not sure how to tell you to begin this. I do know that if you are going to do bookkeeping in the US you need to be well versed on the many tax laws of the IRS and they change yearly.

Not to be a Debby Downer but those seeking accounting assistance in the US will likely keep that work here for that very reason. It is a complex system and one of the reasons that I no longer offer this as a service to new clients.

For those who are starting their business, US based or not, and looking to offer bookkeeping services please keep in mind that those who do have years of experience and usually a formal education. There are huge consequences if you make a mistake and it is not a service you can just jump into.

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Lee Drozak
My Office Assistant

Lee

I understand what your saying. I am not focusing on the Tax side of things. Only bookkeeping. I know USA has its own regulations when it comes to tax.

Here bookkeeping rates are very cheap that is the overall advantage of globalization.
By bookkeeping I am referring to entering receipts and expenses of the business, doing monthly bank reconciliations, credit card reconciliations. Doing any general Ledger work.
By the way I am an ACCA Finalist (equivalent to CPA)
Tax I agree is a matter which requires knowledge of USA tax that is why Tax is not my area of expertise or focus...

I guess my question would be how would they get the receipts and other necessary paperwork to you? If they have to scan it all and email it's not worth their while. I think those who outsource to a VA bookkeeper choose one fairly close to their location.

Just my two pennyworth.

Lynne

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The Wordpro Wizard
www.wordprowizard.com

Lynne your question was logical but in my opinion when for accountants there are huge burden of work and they did not have time in that case they use this process.

Awais

Even for billing and reconciliation you need to have notions of tax law as invoices lead to payment of taxes and you need to distinguish which invoices are valid for tax purposes or if mistakes have been made.

I live in Spain and prepare invoices, track payments and prepare reports for the tax advisor and official accountant but part of my job is to make sure the invoices are correct for tax purposes so it is an area that must be researched carefully if you are going to work with clients in other countries. I know the Spanish system but I would be wary about providing the same services for clients elsewhere. I'm not saying it is impossible though.

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Sabrina L. Williams
For a bird's eye view of your business

Very interesting.
Well I am targeting small bookkeeping businesses in USA for that very reason.
They do all the work the scanning and then outsource the documents through me Via Dropbox facility.

Their many bookkeeping companies in USA, that have overflow of work for which they do not have capacity. This is my target market.

So to sum it up the small bookkeeping businesses do all the scanning work, and only after they do this they hand it over to me.

I understand Sabrina your concern and is valid, however as my goal again is to collaborate with the small business companies they will reconcile these matters such as which bills should be for tax purposes and which not.

I have an in depth knowledge of tax from ACCA I understand tax will vary from country to country, but have knowing these differences I will have the skill in place to implement it accordance with regulations of that country

Awais... very glad to see you on this forum .

The statements "small bookkeeping businesses do all the scanning work" and "they will reconcile these matters such as which bills should be for tax purposes and which not" suggest that your prospective clients will be doing most all of the work themselves and you would just be doing data entry.

Sorry to be a dismal jimmy but I can't see it working logistically. If bookkeeping businesses outsource at all they would outsource to a freelancer close to their location. Maybe your target market should be businesses close to your location?

Lynne

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The Wordpro Wizard
www.wordprowizard.com

Lynne,
I am not only going to be doing the data entry what makes bookkeeping data entry is not knowing the accounting principles. I am well versed the in the accounting principles, so it is not data entry. I am only referring to the Tax related matters which I might need to know if I run into such matter.
I am also offering monthly bank reconciliations/ credit card reconciliations.

If the client I subcontract for look at this as data entry I am fine with that he/she has the right to their perspective just like a CPA firm who would subcontract bookkeeping work to a small bookkeeping company, but they still do it why?

Because they can get the work done 40-50 dollar and still make up to 180 dollar from the customer to who they provide tax services too.