How to Start a Virtual Bookkeeping Business | QBOchatI hear that the idea of starting your own business begins with a conversation around the dinner table, over a cup of coffee or lying on a beach — and it was no different for me. My thought was that I have a business background and experience in the corporate world for a number of years, so I should be good to go. Unlike many new businesses, the first couple of years were good. I had a few steady clients, could pay my bills, and was able to set my own hours to spend more time with my very young daughter. It was everything that that I thought it should be. About 4 years into this venture, I gained more clients and hired some subcontractors to handle the overflow — still thinking that I was doing well.
10 Tips for Starting a Bookkeeping Business
The benefits of starting a bookkeeping business are hard to deny. You can choose your own schedule, decide how much you get paid, and be selective about who you work with. Plus, with smart technology, it's getting easier to set up. So why not jump in? Here are seven tips to starting a bookkeeping business. Understanding why you want to be a bookkeeper and why you want to work with small business is essential.
This, in turn, opens the opportunity for yet another kind of small business startup. If you have the proper skill set you could start your own accounting or bookkeeping firm. You might come to start you own bookkeeping business after working for someone else for years. The American Institute of Professional Bookkeepers has some great tips. Just write up a one paragraph description. You cant afford to ignore technology.
But, first, let me tell you a bit more about me and how I came about to start a virtual bookkeeping practice. My mission was always to help small businesses through my accounting knowledge. I gained experience in forensic accounting, auditing, recruiting, and using technology to help streamline operations. I then joined a global construction company working directly with executives providing management reports and helping team members translate the numbers so they can better manage their projects. After a few years, I got pregnant and wanted the impossible 10 yrs ago.
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Many small business owners look to outsource managing their books, either because it's not something they enjoy or it's something that they have no desire to learn. This is why starting a business as a bookkeeper for other small business owners can be an excellent business idea. Small business bookkeepers can provide a range of services from managing accounts receivable, accounts payable, reconciliation, payroll, reporting, income tax preparation , and more. It's also necessary to be extremely accurate, reliable and work with a high level of integrity when you're managing the books for another company. If you have those characteristics under your belt, here are some of the benefits of starting a bookkeeping business:.
Sarah Williams is a master of detail. Sarah talked to us about how to start a home-based bookkeeping business and grow a solid customer base. After working as a full-time bookkeeper for a construction company for years, I realized that bookkeeping was my true calling, and the only way to reach the income level I wanted was to expand and take on multiple clients at once. I had five years of direct bookkeeping experience and over a decade of experience in finance in general. Doing things slowly really helped to hone in on what my clients need and how I can improve their processes. I want to be sure that all of my current clients are fully cared for before taking on any additional work. I went with packages instead of charging hourly for two main reasons.