Zeni’s virtual bookkeeping services

AI Bookkeeping software

Most bookkeeping solutions can automate basic functions, but Zeni’s AI bookkeeping software takes automation to the next level. Here are the most notable features of Zeni’s AI:

AI-powered financial insights

Zeni’s AI leverages the data it studies to offer meaningful insights into your finances. For example, Zeni can identify trends, project potential outcomes, and offer recommendations based on its analysis of your activities.

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AI-powered receipt and invoice management.

By leveraging technologies like optical character recognition, Zeni can capture, categorize, and reconcile financial information from multiple sources, including invoices, receipts, and account statements.

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Zeni AI GPT

Zeni GPT redefines vendor management with precise AI categorization, outpacing traditional CPAs. It merges duplicate vendors for clearer financial data and automates journal entries, freeing you to focus on strategy.

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Zeni AI Audit Bot

Zeni Audit Bot ensures accurate financial verification by independently checking transactions and balances. It intelligently detects discrepancies for review, safeguarding data integrity and ensuring GAAP compliance.

In addition, it uses machine learning to improve its capabilities over time. The more historical data it has to look back on, the more adept the software becomes at recording your transactions in line with your wishes.

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Bookkeeping professionals

AI is a powerful tool, but it’s still not a perfect substitute for human expertise. While it can automate many basic bookkeeping tasks, complex processes like strategic financial planning should remain the responsibility of bookkeeping professionals.

That’s why Zeni always supplements the powers of artificial intelligence with the human touch. Every bookkeeping software subscription we offer includes the services of a dedicated team of bookkeeping and accounting experts.

They’re there to help with the aspects of bookkeeping that AI isn’t capable of handling, such as:

• Recording complex financial activities that require human insight
• Offering personalized support and answers to specific questions
• Providing detailed financial advice to help you accomplish business goals

As a result, you can rest assured that you’ll receive the best of both worlds. Let machines handle routine tasks while our seasoned professionals focus on providing you with expert advice and support.

Close your books in record time, every time

Timeliness is one of the primary challenges with traditional outsourced bookkeeping services. Manually closing the books with conventional reconciliation methods can result in delays that impact your ability to make informed decisions.

Zeni addresses that issue with its advanced AI features that streamline data entry, transaction processing, and account reconciliations. That eliminates traditionally time-consuming tasks and allows for daily updated financial records.

As a result, you and your Zeni-assigned financial experts can monitor your financial activities in real-time. That facilitates faster, more useful insights into your operations and enhances your financial planning capabilities.

Unified platform

Software solutions can significantly enhance your ability to manage your business’s finances, but the more extensive your tech stack becomes, the more fragmented and disjointed your processes tend to be.

Zeni can help you resolve this problem by bringing as much as possible under one roof. For example, in addition to our powerful AI software and a team of dedicated experts, each of our bookkeeping subscriptions includes:

• Free bill pay and employee reimbursement tools that save you time and money
• A business checking account with no hidden fees that earns up to 4.05% APY and provides $3M in FDIC insurance coverage
• Your very own business credit card with 1.5% cash back and zero hidden or monthly fees

As a result, Zeni can significantly reduce the need to juggle multiple software solutions, facilitating a much more seamless and efficient financial management experience.

Other Zeni FinOps services

The issue of financial process fragmentation is often compounded by the need to hire multiple professionals to assist with various processes.

Fortunately, Zeni offers a full suite of financial operations services. That allows you to further consolidate your business’s finances and avoid the challenges of dealing with multiple service providers.

In addition to its online bookkeeping service, Zeni can provide the following: 

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Zeni’s team of experts has decades of experience extending these services to venture-backed startups. Get all the financial support you need from a single provider that specializes in helping businesses like yours.

What is virtual bookkeeping?

Also known as online bookkeeping, virtual bookkeeping refers to a bookkeeping provider that works remotely rather than on-site at your location. Otherwise, they generally function like a traditional bookkeeper, managing responsibilities like:

• Recording financial transactions and activities in the general ledger
• Updating financial statements to reflect accounts receivable and payable
• Regularly reconciling records to credit and bank account statements

Due to the development of cloud-based software, online bookkeeping services have become increasingly efficient. Modern technologies allow them to access your financial data and communicate as quickly as someone working in person.

Virtual bookkeepers tend to be external service providers or individual freelancers who serve multiple clients on a contract basis, but they can also be full-time employees who happen to work remotely.

Traditional bookkeeping vs virtual bookkeeping

Traditional bookkeeping and virtual bookkeeping have distinct advantages. While your actual experience with one or the other ultimately depends on the provider, this is what you can generally expect the pros and cons to be:

• Cost: Since virtual bookkeepers are remote and tend to be independent contractors, they’re usually the more affordable option. Traditional bookkeepers are more likely to be full-time employees, which typically causes you to incur additional overhead and payroll costs.
• Communication: Digital communication has come a long way, but emails and video calls aren’t quite a substitute for face-to-face interaction. As a result, your ability to communicate with and instruct traditional bookkeepers may be superior, though a dedicated bookkeeper can mitigate the issue with efficient systems.
• Flexibility: Virtual bookkeeping is exceedingly adaptable, often allowing you to scale the help you receive up or down to meet your changing bookkeeping needs. In contrast, adjusting traditional bookkeeping often requires staffing changes, which is slower and more expensive.

Ultimately, the choice between a traditional and virtual bookkeeping business depends on factors like your budget, current stage of growth, and financial complexity.

What to look for in virtual bookkeeping services

While overall cost is always an important factor, it shouldn't be the only one you consider when assessing a virtual bookkeeping service. Here are some other things you should look for in a provider:

• Fixed billing: Variable billing approaches aren’t ideal for monthly bookkeeping services since they can create unpredictable costs. Look for providers that charge a flat fee for guaranteed deliverables. 
• Positive reputation: Online reviews and comments from previous customers can provide a lot of insight into what it’s like to work with a virtual bookkeeper, though you should take them with a grain of salt.
• Expertise in your vertical: Bookkeeping for startups involves different challenges than bookkeeping for someone like a small business owner flipping houses. Look for a provider that has a proven track record with companies like yours.
• Technological compatibility: Make sure your provider’s tech stack integrates well with your own. For example, they should at least support your accounting software, such as QuickBooks Online or Zoho Books.

In addition to looking for the characteristics above, use your initial interactions with a prospective bookkeeper to gauge the efficiency of their processes. 

Many offer an initial consultation or demonstration, and the experience is often a good representation of what it’s like to be their client.

When to get virtual bookkeeping services

Virtual bookkeeping services tend to be more affordable and flexible than traditional bookkeeping services, making them suitable for a variety of businesses. However, startups often benefit the most, especially when youthey:

• Are growing rapidly: Startups experiencing rapid growth will often appreciate a virtual bookkeeper’s flexibility. As your business grows, they can adjust to accommodate increased volume and complexity quickly and cost-effectively.
• Have unusual needs: Startups in unique industries or verticals often have specific bookkeeping requirements. Opting for a virtual bookkeeper increases your options, increasing the odds you’ll find one with experience supporting businesses like yours.
• Operate in multiple locations: Managing the books for multiple locations with in-person bookkeepers can be costly and inefficient due to the need for travel or multiple hires. A remote bookkeeper can manage them remotely in their virtual office without the need for either.

If a virtual bookkeeping company sounds right for you, try Zeni. Our platform combines the power of AI technology with a team of dedicated, experienced bookkeepers to provide a flexible solution you can easily adjust to meet your changing needs.

Schedule a demo today to see Zeni in action.

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