Online or virtual bookkeeping is conceptually similar to on-site bookkeeping.
Virtual bookkeeping: The only difference from on-site or traditional bookkeeping is that we don’t come to your physical location or office. This makes it virtual.
does this mean? Somehow we have to get your source documents or transactions – i.e. bills/invoices/receipts etc. How do we do this? Electronically, over the internet. We then update the transactions online. This updating of information and keeping of your books makes it online bookkeeping.
Get it? Bookkeeping is done online. Your books are updated by a virtual bookkeeper.
Really, virtual or online bookkeeping are the same thing, describing the new paperless wave of bookkeeping. Some people prefer the word online, others prefer the term virtual. Still others use the term remote bookkeeping.
Learn more at MyOnlineBookkeeper.com