8 Ways to Start a Bookkeeping Business with no Experience

Udemy is an online educational platform that offers thousands of courses on hundreds of subjects, including bookkeeping. These courses are typically inexpensive, between $50 and $100 on average. This makes them ideal for those who are on a budget, or who are perhaps interested in learning the basics before paying for a more advanced course. The more business owners you meet and talk to, the more likely you are to get hired or referred. Take the time to get to learn about their businesses and get to know them as people.

You need to be very specific about what kind of businesses you would like to extend your bookkeeping services to. Now that we’ve provided you with a roadmap to get your bookkeeping business started, I want to challenge you to pick a date for when you would like to be ready to take that first client! Then, take this guide and create a weekly to-do list based on the steps we have shared with you. Many bookkeeping firms prepare financial statements that their clients take to CPAs or other tax pros to prepare a return. You may find yourself working closely with their tax preparer and, together, you can provide outstanding service to your mutual clients. Ben Robinson, the expert behind the course, breaks down the virtual bookkeeping business step-by-step.

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For people just looking for some extra money or a part-time income, you can easily begin making money really quickly.” says Kelly. Starting a virtual bookkeeping business is a great way to earn money from home. If you find the right training program, you need not have any prior experience. Ben Robinson started this course in 2015 to teach not only the technical but also the business side of running a bookkeeping business. As a former CPA who has owned two accounting firms, he knows first-hand what makes a good bookkeeper. Accounting software providers on the market and is used by many small and large businesses alike. Another popular option is Xero, but there are plenty of bookkeeping apps to choose from.

That’s how government determines taxes, licenses, and all the other fees and withholdings every business must pay. Are you interested in starting a virtual bookkeeping business from home? If YES, here is a complete guide to starting a bookkeeping business with NO money and no experience plus a sample bookkeeping business plan template. You need to commit the time and energy required to start a successful bookkeeping business. The course will teach you all the steps to getting started and building a strong client base. Good bookkeepers are always in demand since many business owners don’t have the time to run this side of their business.

Office phone and internet service

Hubdoc automates the process of obtaining and downloading bank statements. Even though accounting software connects with bank accounts, it’s not enough to know the income and outgoings of a business – you’ll also need to access the source documentation. These days most businesses work with some form of accounting software, so being familiar with these programs is a must. It’s tempting to learn how to use every single piece of accounting software out there, but in reality, quality is often better than quantity. As a result, a bookkeeping business offers the chance to help your clients grow their businesses by offering them advice as well as getting nerdy with the numbers. Hence, ensure that you put in your best whenever you have the opportunity to handle every of your clients accounts.

• Since you are a home-based business with no employees, anything you earn will be a profit, unless you made the small investment required to start this business by taking a loan.
• It will give you clear, concise action steps on how to start, instruct you on how to gain clients, and teach you to navigate QuickBooks and on-board clients smoothly.
• If you’re just starting a bookkeeping business, it’s likely that you’ll just be working solo, at least for the beginning.
• Whether you’re completely new to the world of bookkeeping or you’re a professional who wants to take things to the next level, there will be something suitable for you on the site.
• Being able to connect with other students and learn from those who are already running a successful bookkeeping business is invaluable.
• In the accounting field, the gold standard when it comes to certification in the US , there isn’t an equivalent in bookkeeping.

You need to comfortable with technology so you can access a client’s computer, if necessary. The alternative would be to focus on a specific niche instead, for instance, bookkeeping for the automotive industry. Check out my ultimate list of my favorite 51 news resources for accountants and bookkeepersto get the latest news and trends. Not only did I run my last accounting firm on it, but I also run my current business on it. Then it’s just a matter of tailoring your core offering around solving these pain points. If you can do that, you’re one step closer to getting clients to sign up with you. The bad thing about Google and Facebook ads is that they can be super expensive and the traffic you get may not be the traffic that you want.

How long does it take to start earning an income with your bookkeeping business?

Networking is always a great idea for owners of all sorts of small businesses and startups. Just like any other business you also need to have an idea about legalities and planning a marketing strategy and drafting proposals.

Now let’s look at some common marketing channels you can use to promote your business. Also, note that you can hone your niche over time as you clarify which types of clients you love to work with and who love to work with you. In addition, you have to be motivated and tough enough to go through the process of setting up your business alone, which is an isolating experience for many people. QuickBooks is better for invoicing and project management, and offers some features Xero doesn’t, like tax support and lending. On the other hand, Xero lets you add more users to one account for less – an important consideration if you want to have a larger business with employees. Even if you’re meeting with clients every day, it can be isolating if there is no one there to share the burden of your business with.

How to Start a Bookkeeping Business From Home

Every business has a regular flow of financial statements, balance sheets, bank statements, and other financial documents to keep in check—and most business owners need help to do so. You could feasibly make a six-figure salary if you work a lot, and you’re an excellent bookkeeper, but ultimately your salary will be capped. If you have lots of clients and projects to work on at once, it’s easy to lose track of what you’re doing. But having a tool like Insightly is vital for keeping on top of everything without wasting time. Sage One is another piece of software that bookkeepers should be aware of. It’s slightly different from QuickBooks and Xero since Sage excels in its project management and invoicing features and but has a more basic approach to bookkeeping.

Get a good computer, reliable internet, and top bookkeeping software. While you don't actually need experience to be a bookkeeper, you should definitely do some training courses and learn how to use accounting software. Many business owners don’t have the time or willingness to oversee this aspect of their operations. You can earn a good living from home if bookkeeping for small business you learn how to start a bookkeeping business career. Marketing is the most important aspect for any business to grow and expand. But it’s also challenging to manage for bookkeepers and accountants. Whether bookkeeping business is your full-time business or a side gig, you can hire a marketing agency with the expertise to promote companies in their market.

What kinds of tasks do bookkeepers do?

You will definitely learn the accounting software and so much more. You’ll learn about a TON of virtual software to help you build a virtual business. Taking the time to attend bookkeeping conferences will help you to continue your education and may even gain you credits towards earning your CPA certification. You will also be able to stay current with the latest industry trends and trends that are becoming obsolete.

• You need to comfortable with technology so you can access a client’s computer, if necessary.
• Typically, this includes a mailing address, local telephone number, receptionist to answer calls, physical office space, and access to a conference room that you can rent by the hour.
• You will also need some basic info on starting a business.
• Packaged pricing involves selling your services in bundled packages at a fixed fee.
• You need to consider your target market, services, and requirements to choose the best product.
• The key here is to get creative, think outside of the box, and give yourself an advantage over your competition by having a better marketing plan than them.

At Huckleberry, for example, you can get a 60-second estimate and secure your small business insurance entirely online and in as little as 5 minutes. Once you’ve settled on a business name, secure the matching domain, business email address, and social media handles for any channel you intend to use. As you search for the right business name, check that the name is available as a domain for your website.

How Much Can I Earn?

You can learn how to write a business plan, find a mentor from a local or regional chapter, and they have an entire “learning center” where you can find tons of basic business courses. Professional liability insurance, commercial general liability insurance, and cyber liability insurance will all help to protect a bookkeeping business. When attending a bookkeeping conference, be sure to walk around and chat to other conference goers. You will gain contacts with other bookkeepers and accountants. It is important to separate your personal finances from your business finances to support your limited liability status and protect your personal finances.