I just took my first vacation (a whole week!) in about 10 years. Prior to that, it was at least 5 or 6 years… normally i just take a morning here or an afternoon off there, mostly when I’m on a business trip.

Are you sure he is working during the same time as your work contract with him dictates? If the answer is yes, then start to increase the level of online meetings, tighten up the timeframe of the deadlines, make social events participation mandatory, even put him in charge to train a new person. After that, you could hire people to find out, but why go through the hassle, especially for a worker who barely meet the minimum requirements. Even if you’re penalized a year’s worth of salary for this guy, bite the bullet. It’s cheaper in the long run…

Plenty of basic accounting software like Quickbook are available. It’s a straightforward process and there are plenty of help available around (forums/youtube,etc)

While you can hire an accountant to double check your work, I would highly recommend that you at least gain a fundamental knowledge so that you can read and understand standard reports such as a P&L statement. Having a basic grasp on accounting/finance is a real advantage.