What Does a Virtual Accountant Do? Scope, Cost and How It Works in India
What a virtual accountant does for an Indian business: monthly bookkeeping, reconciliations, GST and TDS support, reports, how it works and what it costs.
A virtual accountant is an outsourced accountant or team that keeps your books remotely, in your own Tally, Zoho Books or QuickBooks file, on a fixed monthly calendar. They record transactions, reconcile bank and party accounts, prepare the data for GST and TDS returns and send you monthly reports. You get the output of an in-house accountant without hiring one, and the work is reviewed by a qualified professional rather than depending on one person.
What a virtual accountant typically does each month
| Area | Typical work |
|---|---|
| Bookkeeping | Recording sales, purchases, expenses and receipts from invoices, bills and bank feeds |
| Reconciliations | Bank, credit card, payment gateway and marketplace settlements; customer and supplier balances |
| GST | Sales and purchase registers, GSTR-2B and IMS review, data for GSTR-1 and GSTR-3B |
| TDS | Identifying deductions, computing TDS and preparing data for returns |
| Payables and receivables | Ageing reports, payment reminders, vendor payment lists |
| Reporting | Monthly profit and loss, balance sheet and cash position; MIS where agreed |
| Year end | Support for book finalisation and the audit |
Filing returns, payroll and the statutory audit are often separate engagements. Agree in writing which filings the virtual accountant prepares and which they file.
How it works remotely
- Your software, your data: the books stay in your accounting file, with access given to the accountant.
- Document flow: invoices, bills and bank statements reach the accountant through a shared folder, email or the software itself.
- Calendar: postings weekly or monthly, reconciliations by a fixed date, reports by another, aligned to GST and TDS due dates.
- Review: a senior reviewer checks the month before reports go out.
- Questions: a short list of open items each month for you to answer.
Virtual accountant vs in-house accountant vs virtual CFO
| Virtual accountant | In-house accountant | Virtual CFO | |
|---|---|---|---|
| Main job | Keep accurate books and reports | Same, plus office tasks | Finance strategy, cash, funding, board reporting |
| Cost | Monthly fee by volume | Salary, benefits, software, supervision | Higher monthly fee |
| Continuity | Team-based | Depends on one person | Senior professional |
| Best for | Small and growing businesses | High-volume, on-site needs | Funded or fast-growing companies |
For a full cost comparison, see outsourced accounting vs in-house; for strategic finance, see our virtual CFO guide.
What it costs
Fees depend on the number of transactions, bank accounts and entities, the software, and the reports you need. CorporateWalla's published virtual accountant plans are ₹2,499, ₹8,999 and ₹17,999 a month, excluding GST, with final pricing set after a scope call.
Is it right for you?
- Your books are months behind, or kept by a part-timer.
- You file GST and TDS but the numbers rarely match the books.
- You want monthly reports but cannot justify a full-time hire.
- Your auditor spends weeks fixing the books every year.
Frequently asked questions
Q: What is a virtual accountant?
A: An outsourced accountant or team that keeps your books remotely in your accounting software on a fixed monthly schedule, with reconciliations, GST and TDS data and monthly reports.
Q: Is a virtual accountant cheaper than hiring one?
A: For most small and mid-sized businesses, yes, because you pay for the volume of work rather than a full-time salary, benefits and supervision.
Q: Which software do virtual accountants use?
A: Usually the software you already have, such as Tally, Zoho Books or QuickBooks. The books stay in your file.
Q: Does a virtual accountant file GST returns?
A: Many prepare the GST data, and filing can be included by agreement. Confirm the scope in writing.
Q: Is my data safe with a virtual accountant?
A: Access should be through user accounts in your software with appropriate permissions, which you can withdraw at any time. Ask how documents are shared and stored.
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