Employing a remote accountant

At The Access Group, we work on software for accountants in Australia and New Zealand that helps firms become ready to onboard remote accountants into their workforce. 

Since the COVID-19 pandemic hit and changed the work landscape, organisations in various industries have begun to understand that employee expectations have changed. Accountants are no exception to this rule. They’re looking for flexible working arrangements as much as any other profession. 

In this article, we’ll talk to you about why you should consider employing a remote accountant in Australia or New Zealand, the numerous advantages of hiring for a role in this manner and a handy checklist of tools and strategies you need to onboard your new employee effectively. By the end of this article, you should have a better handle on how to equip your practice for remote work. 

Why are more firms choosing remote accounting jobs? 

Public practice accountancy is currently undergoing a significant transformation, driven by a myriad of factors, such as: 

• Lower unemployment rates since the COVID-19 pandemic dissipated. 

• Rising inflation and cost of living issues have rapidly affected the salary expectations of accounting job candidates. 

• Visa changes have brought in fewer skilled migrants in the accounting profession. 

• A highly competitive job market in Australia and New Zealand, with more roles than accounting job applicants. 

At the close of 2023, Ignition surveyed 136 accounting professionals, highlighting several challenges to Australia's accounting talent landscape. 58% of the survey respondents named accounting staff recruitment their top challenge heading into 2024, followed by a lack of time to implement new technology (49%). 

The outlook for accounting company talent pipelines will worsen unless firms evolve and rethink their ways of finding and retaining talent, such as remote accounting jobs. 

For a deeper look at recruitment challenges for accounting firms and constructive strategies to acquire top-quality talent, read our blog on this topic. 

Key benefits of remote working for accounting firms 

Accounting firms trying to navigate the new normality of recruitment challenges and finding new ways to innovate and grow may be hesitant to invest in new staff members. 

However, advertising an accounting role as a remote work opportunity will help you see the following pros and cons: 

• The ability to hire on a national scale: Remote accounting firms means no longer worrying about limitations based on location. Leveraging a larger talent pool of accountants from around Australia or New Zealand will help you find the right fit for your role. 

• Higher levels of security: Cloud-based accounting practice management software can aid remote accounting services by reducing the need for paper-based work and physical office space, decreasing occurrences of human error and providing excellent protection for your client's sensitive financial data. 

• More productivity: Employing a remote accountant and workflow management software can help your firm work smarter and faster in a distraction-free environment. This improved productivity will, in turn, lead to better output in accounting services. 

• Scalability: Hiring a remote accountant will help your accounting firm scale operations as needed without being tied to office space or other expenses often associated with overheads. 

• Focus on higher-value tasks: Home accounting jobs free practice owners and management to focus on higher-value work, such as business advisory services. 

• Expertise and specialisation: Opening your roles up to remote candidates exposes you to candidates with diverse backgrounds and experience working with specific industries or more niche areas of accounting. Leveraging an accounting specialist can help you make strategic decisions about your client profile and service offering. 

• Adaptability: Accountants accustomed to working remotely in virtual environments will likely have developed soft skills that help them quickly learn their way around new technologies, such as accounting practice management software. This resilience in flexible jobs makes the employee more suited to supporting firms rapidly growing their accounting operations or uncertain circumstances. 

Can an accountant work remotely? 

When underpinned by the right technology, flexible accounting jobs allow accountants to work from anywhere. This can open new job opportunities in areas where wages are higher and provide greater flexibility for employees to manage their work around personal challenges, such as travel, childcare, and family commitments. 

The best remote accounting jobs have cloud-based accounting practice management software for online accountants to manage daily accounting tasks. They can access this practice management software from anywhere, so they don't need to be tied to the office or their home if they find it difficult to work there.   

You should also consider the following tools and strategies to help remote staff work at their maximum capability: 

• Secure workstations. 

• A secure method to transfer files. 

• Collaboration tools, including video conferencing tools such as Zoom or Microsoft Teams, and client management software to strengthen the relationship between accounting practice team members and their clients. 

• A client portal, usually part of client management software, where clients can securely upload documents and access reports from their remote accountants.

It is also important to keep remote workers engaged with their firm. To lessen feelings of employee burnout or isolation, regular stand-up meetings and other points of connection can help remote accounting staff feel engaged. 

Remember to check out our accounting firm tech stack guide for advice on investment in accounting tools.

Key benefits of remote working for accountants 

Accountants working as digital nomads will experience several perks if they are equipped with the right tools and technologies that enable them to do their jobs.  

Additionally, expectations from the accounting firm need to be clearly defined and communicated. Accounting firm business owners or a senior accountant should also consider ways to keep their remote accounting team engaged. 

With all this in mind, here are the key benefits of remote working in accounting: 

• The ability to have a more flexible schedule: Remote working gives the accountant more flexibility with their daily schedule, meaning they can manage their family or personal commitments around their work tasks. 

• The opportunity to work from anywhere: Working remotely opens many doors for virtual accountants to broaden their horizons, with greater flexibility to work from anywhere. 

• Cutting costs: Remote accountancy can lead to some significant cost savings, as the accountant will be saving money on commuting expenses, such as petrol, public transport fees, and parking fees. They may also spend less money on work attire, lunches and other incidental expenses that are often incurred when working in a physical office. 

• An improved work-life balance: Remote accountancy saves time and stress associated with commuting to work. This extra time can be better used for personal pursuits, hobbies, catching up with chores or spending time with family and friends, leading to a greater work-life balance. 

• Professional development opportunities: Remote working encourages accountants to work on skills essential for remote collaboration, such as resilience, time management and verbal and written communication. Read our guide to free CPD resources for accountants for more on this topic. 

Conclusion 

Accounting firms looking to stay relevant and competitive in the current landscape of recruitment challenges in Australia and New Zealand must find ways to adapt and adjust to new accounting industry workplace trends. 

The shift towards a work-from-anywhere mindset has already begun. Many accounting firms may review their remote or hybrid work policies devised at the pandemic's start and make amendments as needed.  

Employing a remote accountant helps firms access a broader talent pool in a challenging time for accounting talent acquisition. Accountants working remotely may experience greater morale and productivity and an improved work-life balance. 

Accounting firms who can embrace this accounting industry trend will see themselves transformed. If your accounting firm is ready to embrace remote work, you'll need the right tools for the job. 

Cloud-based accounting practice management software is the most cost-effective solution for firms attracting quality accounting talent. It is more suited to continued scalability and more accessible for remote accountants who are on the go.