How To Start A Virtual Bookkeeping Business – Do you know what every company needs? Someone to do the books! If you are a person who likes organization and has decent math skills, that someone could be you! I mean seriously, bookkeeping can be a lucrative business – accountants are always in demand, and bookkeeping itself is often something that business owners don’t have the time or confidence to do.
Virtual accounting jobs are widely available, but often overlooked. Many people believe that they do not have the necessary skills to fill a position. Despite its closely related accounting cousin, accounting positions are often considered entry-level. While being detail-oriented and having the ability to stay on task is key, you don’t need to be a CPA to be an accountant.
How To Start A Virtual Bookkeeping Business
Experience is important for so many careers, but for accounting, experience isn’t a make-or-break deal. Of course, it certainly helps to have worked in financial transactions before, but it is not necessary. If you have previous experience in small-scale accounting, that experience can make a big difference when it comes to getting clients for your own business.
How Much To Charge As A Bookkeeper — Finepoints Bookkeeping
No experience? That’s good too! You can still get started in this career with relatively little startup costs. Check with your local community college to see if they offer an accounting course, or check out courses available online. You can also look for online courses specific to different types of accounting software. The launch of Bookkeeper is a fantastic opportunity to get started as a virtual accountant – through 3 FREE lessons, Ben Robinson offers to teach you what you need to get started doing bookkeeping at home and build a successful business as you go.
It’s important to get your business right from the start, especially if you’re handling someone else’s money. You must register your business with your state, either as a DBA (“Doing Business As”) or as a type of business entity such as a Limited Liability Company. While you absolutely
Treat your accounting firm like a sole proprietorship, protect yourself for the long term by becoming an LLC. An LLC will help you minimize your personal liability if your business is sued.
Filing as a business usually involves fees and they vary from state to state. In most states, you can file for $150 or less. IncFilecan help you submit that documentation.
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When starting an online bookkeeping business, you should also take steps to protect yourself. Have a P.O. box for any paper correspondence so you can control who has access to your personal address. However, if you choose a registered agent for your business with the state, they may not provide a PO Box; in that case, it may be helpful to hire professional registered agent services from companies like Northwest Registered Agents. to protect your privacy.
Because you handle financial statements and other private data, as an accountant, you also need insurance to protect yourself and your business in the event of mistakes or catastrophes. You may want to get business liability coverage, professional liability coverage (errors and omissions), valuable documents and records coverage, data breach coverage,
“Specialize and work with one or two niche industries. Serve companies you like and are attracted to. You may have previous professional experience that can serve as a springboard to new clients and serve them well.
“Don’t stick to a certain geographic area. Serve clients all over the world. To do that, you have to set up your business in a very specific way. And not work in a client’s office. This just binds you. geographically and kills your potential to income
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“My final piece of advice is to be selective about who you serve. Most people who start their own accounting business are too eager and take on any client. Don’t make this mistake. If the client doesn’t fit your personality, don’t do it. Be afraid to say no. You’ll be glad you did later!”
Even if you are a fully virtual bookkeeper, you still need to inspire confidence in your clients that their private and personal information is handled with utmost security and confidentiality. If you work from home, you need to reassure your customers that you are actively and carefully protecting their data. Having an actual home office with a locked door (controlled access) is the best way to do this. If you don’t have the space for this, try to have a desk with closed drawers where physical documentation can be kept. Also, make sure your computer is password protected and that no one but you can log into it.
You also want to use great accounting tools. As Ben teaches his students, “the number one tool, and the center of everything you’re going to do for your client, is an accounting software called Freshbooks.
“Depending on the type of client you serve, there are several different tools you can use that will set you apart as a great accountant. One of the great things about owning your own accounting firm is that the tools required are not numerous and the costs are minimums
Bookkeeping: A Beginner’s Guide To Accounting And Bookkeeping For Small Businesses: Kane, Michael: 9781951345242: Books
Before you start courting clients, make sure you have an attractive and professional website. You don’t have to be so technical or spend a lot of money to achieve this! Use a service like Wix or Squarespace to quickly create beautiful pages, or have WordPress installed on your personal website domain. WordPress is pretty easy to learn and comes with tons of clean, free layouts that you can customize to work for your business.
Your website should include a list of your services, some background on your experience and skills, and a way to contact you at the very least.
I know, I know, this can be one of the hardest steps in starting your business. How much do you charge? Are you at risk of charging too much and not getting customers? Or are you at risk of overburdening yourself and overburdening yourself because you were afraid to value your time?
There is simply no hard and fast rule about what you should charge. My best recommendation is to read the industry and decide accordingly. Salary.com tells us that the average hourly rate for accountants in a traditional staffing position is about $19.63. Ben teaches his students how to earn up to $80 an hour working from home as an accountant.
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Research what your local competitors or virtual competitors charge for their services; then you have the information to start with an average price or try to undercut other professionals. Another good rule of thumb is this: once you’ve landed your first client, whatever they pay now is your minimum. In the future, never try to work for less than that amount and use carefully considered price increases over time to match your level of experience and the value of your services.
For personal marketing, you definitely want to print some business cards as soon as possible. Networking can happen anywhere from a Chamber of Commerce meeting to the dentist’s office or school hotline. If you’ve already made business cards, you can help spread the word about how to find you. You can also consider a flyer or brochure to share both in person and online.
If you only offer your accounting services virtually, you can use targeted advertising to great effect. Facebook has incredibly accurate advertising services that allow you to target specific demographics and use your advertising budget efficiently. For free options, visit online forums where your target audience spends time: connect with them on Twitter or Instagram, or guest post on the blogs they frequent. (You can also buy ad space on those blogs.) Small businesses will be your bread and butter, so don’t forget to reach out to them personally.
As you build a client base and become more comfortable with your accounting business, continue to learn and consider offering more services. In addition to simple accounting, you can offer packages that include doing your clients’ payroll, handling their business tax returns, receipts and inventory management, helping start-ups with financial planning and loan packages – the list of how your value can add to your account the business goes on. And every time you add a new service it’s a great opportunity to re-evaluate your pricing structure and upsell your customers on those new packages. Developing a stronger set of offers is also a solid way to attract new customers.
Outsourced Accounting And Bookkeeping Services
“Follow a proven system. Don’t try to make your own way. There are systems that work. Find one that works for you and stick with it.”
Well, what are you waiting for? There’s no better time to check out Bookkeeper’s launch and start your next successful career.
A few months ago I was laid off from my work-from-home job. I quickly discovered that finding another telecommuting job was next to impossible. I am a single mother of three boys, one of whom has special needs, so I really needed to find something that would give me a lot of flexibility with a full time income. When I found the Accounting Business Plan, I knew it was exactly what I needed.
Share your success during the course. How were you able to find your first client and start working towards your income goals?
How To Become A Bookkeeper At Home (even With No Experience)
I have no accounting experience and was concerned about my ability to land clients. The lessons focus so much on the business side of things
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