How To Start Your Own Bookkeeping Business From Home – Want detailed information on starting a bookkeeping business? This might be one of the best decisions you’ll ever make when you consider your own respectable, home-based business.
While it takes a lot of effort to start a bookkeeping business, once you’re established, there are many benefits:
How To Start Your Own Bookkeeping Business From Home
Make sure you have seven personality traits. Know your big reason. Then, find a hands-on accounting course, roll up your sleeves. A great book and shows you how to be an excellent accountant in a “paint by number” format.
Bookkeeping Company Name Ideas List Generator (2023)
However, there are a few questions that will spin around in your head. And, you need to know the answer BEFORE diving into the bookkeeping business.
Our comprehensive accounting business course, Bookkeeper Launch, is designed to be completed in ten (10) weeks. Some students even get their first client while still on the course! I know, crazy.
While we designed the Bookkeeper Launch for you to start your accounting business in 10 weeks, it’s really up to you. If you can focus full time on starting your accounting career, it will take less time to get up and running.
Look, accounting is a simple job. But, that does NOT mean it’s easy. Nothing in life of lasting value is easy. Again, it’s a short-term sacrifice for a lifetime’s sake.
Skills You Need To Start A Successful Bookkeeping Business
Bottom line: you can be up and running within ten weeks. It’s all up to you mi amigo! You control your own destiny.
And remember that bookkeeping is the #1 most profitable business. This is a virtual bookkeeping business, so you’ll definitely need:
In addition to these three main items, here are other startup costs you can expect when starting a bookkeeping business:
By the way, when you set up a business entity, there are several flavors. To understand what might work for you, check out this helpful post on the best business structure from FitSmallBusiness.com.
Bookkeeping Tasks You Must Do Every Week
Okay, if I did the math right (please say I did differently then I might need to find a new job) – that means your estimated initial cost is about $1,404.
If you’re a saver, I know you can reduce that amount. And, some of the items I listed above, you can stop buying right away.
But not your accounting job! Start with less than $1,500 smackers…in the #1 most profitable business in the world. All jokes aside, that’s pretty cool!
What about the business plan? Should you have a business plan? It completely depends on you. There are both pros and cons to business plans.
A Guide To Starting A Bookkeeping Business From Scratch
If you can really use your business plan as a road map to get started, create one. However, most people create a business plan and put it on the shelf, never looking back at it.
My suggestion is to take a look at Bookkeeper Launch. It’s a business plan in a step-by-step, week-by-week format. It has been used by more than 14,000 other women and men to start a bookkeeping business.
To help him get the job done to the best of his ability, in the least amount of time possible, to deliver a high-quality finished product.
Before you dive into discovering the EXACT tools, technology, and certifications you need to start an accounting services business, you must adopt a critical mindset.
How Much Does A Bookkeeper Cost? Comparisons, Expenses, And Tips
Bookkeeping is a respectable WORK, the test of time. And while there is currently no law or regulation in the United States that requires you to be licensed, you still have to abide by this fact:
“I AM AN ACCOUNTANT, I AM A PROFESSIONAL. As an ACCOUNTANT, I HAVE TO CONTINUE DEVELOPING THE TECHNICAL DEVELOPMENT OF MY CHOOSE AND EVERY DAY NEED PASSION TO BE BETTER THAN THE ONE.”
Once we’ve mastered this pro mentality, let’s now shift our focus to the exact tools, technology, and certifications you need.
Above, in the “how much does it cost to start” section, we covered some of the specific technologies and tools you need to start a bookkeeping business.
Choose The Right Accountant
As a great accountant, your next tool is bookkeeping/booking software. (BTW: from here on out, I use both terms: accounting software and bookkeeping application.)
There is an accounting software that I LOVE. It’s the best accounting app in my experience. More on it just for a moment.
To start, I’d like to give you some qualifications in ANY accounting software you use to serve your accounting clients:
Now that you know the criteria for evaluating accounting and peripheral apps, let’s talk about my favorite work apps.
How To Get Bookkeeping Clients: 15 Quick Tips To Grow Your Practice Online
When you start an accounting business with QuickBooks Online, you want to be certified. The benefits of receiving this certification include:
Now, just because we learn how to start an accounting business using QuickBooks Online, your learning and growth doesn’t stop there. Next, you want to get your professional certification.
Yes, small business accounting software is awesome. It handles the day-to-day data entry and metric processing, but that’s ALL they do.
However, accounting software cannot replace YOU. You are a great human being and use the financial transaction reports provided by accounting applications to help your clients improve their business.
How To Start A Business From Home: 15 Steps, Ideas, And Tips
This is a win-win for you and your customers. They get better service and YOU make more money.
Accounting software eliminates a lot of the hectic work that was required to be completed…even just 5 years ago…and frees you up to provide premium service at a discounted price.
The ability to go beyond virtual bookkeeping is crucial if you want to be a good bookkeeper and make a lot of money.
The late Zig Ziglar – one of the greatest men on motivation and human relations – said, “People won’t care how much you know until they know how much you care. “
How To Learn Accounting On Your Own: 15 Steps (with Pictures)
That interest will never be superseded by machines or applications. This is all you are a great accountant!
Bookkeeping applications can run the numbers, but only a good bookkeeper can interpret the data and translate it into simple language the client understands. And do these things in a friendly and thoughtful manner.
There are many ways to get new business. What is right for you may be different from what is right for someone else. You can start virtual. Or, you can start directly. In fact, you should do both: start online and start in person.
Talk to everyone! Tell family, friends, acquaintances, business owners, and anyone else you can. You will be shocked at how effective this is!
Common Small Business Bookkeeping Mistakes (and How To Avoid Them)
Use social media like crazy. There are many social media platforms that you can use. My favorite social media platform for acquiring accounting clients is LinkedIn®.
We all know social media can drain our time. However, LinkedIn® is different. It’s the social media platform where serious business owners hang out. It’s a goal-rich social media platform. Use it. You will thank me later.
Another way to get new customers is through referrals. Commercial banks are great. In addition, some Certified Public Accountants (CPAs) do not provide accounting services. So see if you know anyone who is a Certified Public Accountant and contact them.
I can’t stress this enough: define your ideal customer first. Life is too short to work with people who suck your soul. By defining your ideal customer in both qualitative and quantitative ways, you will save your heartache in the future.
How To Make Money With A Bookkeeping Business (2023)
The core of small business accounting is the monthly preparation of three key financial statements:
In addition to preparing these three main financial statements, you can also provide additional services such as:
Now, to perform these services for your clients, you need to know the best accounting and bookkeeping practices, such as:
NOTE: Accounts payable is a big hassle for business owners. If you can eliminate the pain of accounts payable, you will become valuable. However, it is important to note that you should never be responsible for authorizing payments. Only the business owner is allowed to do this in the accounts payable process.
The Successful Bookkeeper: The Formula To Building A Six Figure Business & Beyond: Palmer, Mr. Michael: 9798686278042: Books
My first recommendation is that you take our free training course on how to start a virtual bookkeeping business.
The bottom line is: take action. If you determine that starting an accounting business is right for you – DO IT! Believe in yourself and you WILL prevail. Do you know what every business needs? Someone to do the books! If you are an organization person and possess good math skills, then someone could be you! I’m serious, an accounting job can be a lucrative one: there’s always a need for accountants, and the accounting job itself is often something business owners don’t have the time or the attention to do. confident to do.
Virtual accounting jobs are widely available but often overlooked. Many people don’t think they have the necessary skills to land a position. Although closely related to accounting, accounting positions are often considered entry level. While detail-oriented and job retention are key, you don’t have to be a certified public accountant to become an accountant.
Experience is important for a lot of careers, but for accounting jobs, experience isn’t the deciding factor. Sure, having worked in financial transactions would certainly help, but it’s not required. If you have prior experience in small-scale accounting, that experience can make a big difference when
