Online Bookkeeping Services For Small Business – Are you interested in learning the ins and outs of starting a bookkeeping business? It may be one of the best decisions you make when considering starting your own reputable, home-based business.
Although starting a bookkeeping business requires a lot of effort, once established, there are many benefits:
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Make sure you have seven character traits. Know your why. Then, get a lesson in roll-your-hand bookkeeping. One that shows you how to be a better bookkeeper in a “paint by numbers” format.
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However, there are some questions that should go through your head. Also, you should know the answers before jumping into the bookkeeping business pool.
Our comprehensive bookkeeping business course, Bookkeeper Launch, is designed to be completed in ten (10) weeks. Some students get their first client while still in school! I know, you’re crazy.
We’ve designed an introduction to bookkeeping that’s really up to you to start a bookkeeping business in 10 weeks. If you can focus completely on starting your bookkeeping business, it will take much less time to get up and running.
Look, bookkeeping is a simple business. But that doesn’t mean it’s easy. Nothing in life’s eternal achievements is simple. Also, this is a lifetime temporary subscription.
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Bottom line: you can be up and running in ten weeks. All yours my friends! You control your destiny.
Remember that bookkeeping is the #1 most profitable business. This is a virtual bookkeeping business, so you will need:
Beyond these three essentials, here are some startup costs to expect when starting a bookkeeping business:
BTW…If you are setting up a business, there are many flavors. Check out this helpful post on the best business structure from FitSmallBusiness.com to learn what works for you.
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Well, if I’m doing my math right (please, tell me, I might have to find a new job) – that means your startup costs will be $1,404.
If you are a frugal person, I know you can deduct that amount. Also, you can immediately stop buying some of the things I’ve listed above.
But not your bookkeeping business! Go for hits under $1,500…the #1 most profitable business in the world. Playing aside, it’s great!
What about a business plan? Do you need a business plan? It is entirely up to you. Business plans have advantages and disadvantages.
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If you can use your business plan as a road map to getting started, create one. However, many people create a business plan and put it on the shelf, never looking at it again.
My suggestion is to check the bookie’s presentation. It’s a business plan in a step-by-step, week-by-week format. Over 14,000 men and women have used it to start an accounting business.
It helps him to work in the best possible way, in the shortest possible time, to deliver a high quality finished product.
Before you can find the right tools, technology, and professional certification to start a bookkeeping business, there is a critical mindset to consider.
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Bookkeeping is a respectable and time-tested profession. Although there are currently no laws or regulations in the US that require you to be licensed, you should still stick to this fact:
“I am a saint because of your books. As an accounting professional, I must continue to improve my chosen practice and get better about it every day.
With this expertise in mind, we can turn our attention to the same tools, technologies, and certifications you need now.
Above, in the “How much does it cost to start” section, we’ve covered some of the specific technical pieces and equipment you’ll need to start a bookkeeping business.
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As a senior accountant, accounting/bookkeeping software is your go-to tool. (BTW: From now on, I’ll be using both apps: the accounting software and the bookkeeping app.)
I have an accounting software that I love. Best calculator app in my experience. More on that in a moment.
To begin, I’d like to offer some qualifications for whatever accounting software you use to help your bookkeeping clients:
Now that you know how to evaluate bookkeeping and external apps, let’s talk about my favorite work app.
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When you start a bookkeeping business with QuickBooks Online, you need to be confident. Benefits of earning this certification include:
Now, while we learn how to start a bookkeeping business using QuickBooks Online, your learning and development doesn’t stop there. Next, you need to get your professional certification.
Yes, small business accounting software is amazing. It takes care of the daily number crunching and data entry, but that’s what they do.
However, accounting software cannot replace you. You’re awesome, and use the financial reporting provided by accounting software to help your clients grow their businesses.
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It’s a win-win for you and your client. The better service they get, the more money you make.
Accounting software removes a lot of the tedious work required to get it done…even 5 years ago…freeing you to provide a premium service at a premium price.
The ability to go beyond virtual bookkeeping is essential if you want to become a good bookkeeper for a living.
The late Zig Ziglar – one of the greats of motivation and human relations, said, “People don’t care how much you know until they know how much you care.”
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That care is not a substitute for a machine or operating system. It’s all up to you as the Chief Accountant!
Bookkeeping applications may use numbers, but only a good bookkeeper can interpret the data and translate it into simple language that the client understands. Do these things humanely and carefully.
There are many ways to find new business. What works for you may be different than what works for someone else. You can start virtual. Or, you can start manually. Of course, you should do both: virtual boot and manual boot.
Talk to people! Tell family, friends, acquaintances, business owners, and anyone you can. You’ll be surprised how effective it is!
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Use social media like crazy. There are many social media platforms that you can use. My favorite social media platform for finding bookkeeping clients is LinkedIn®.
We all know that social media eats up our time. However, LinkedIn® is different. It is a social media platform where important business owners interact. It is a richly targeted social media platform. use You’ll thank me later.
Another way to get new clients is through referrals. Commercial bankers are good. Also, some Certified Public Accountants (CPAs) do not provide bookkeeping services. So, see if anyone you know is a Certified Public Accountant and give them a call.
I can’t stress this enough: define your ideal client first. Life is too short to work with people who destroy your soul. By defining your ideal client qualitatively and quantitatively, you can save yourself a lot of heartache.
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At the heart of small business accounting is the monthly preparation of three important financial statements.
In addition to preparing these three main financial statements, you can also offer additional services such as:
Now, to provide these services to your clients, you need to know the best accounting and bookkeeping practices:
Note: Accounts payable is a big problem for business owners. If you can take the pain out of accounts payable, it’s worth it. But it is important to note that you should never be responsible for approving payments. Only the business owner is allowed to do this during the accounts payable process.
Why Can Virtual Bookkeeping Help Your Small Business?
My first recommendation is to take our free training on how to start a virtual bookkeeping business.
Bottom line: Take action. If you decide that starting a bookkeeping business is right for you – do it! Believe in yourself and you will succeed. Did you know that 99.9% of all businesses in the United States are small businesses? Or that small businesses employ half of the nation’s private sector workforce?
In every economic sector imaginable—from medicine to manufacturing, from information technology to interior design, from haute cuisine to hair care—small businesses are America’s humming economic engine.
Small business retention services from Remote Books Online help companies that matter in all of these areas stay strong.
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We handle ledger balancing and numbering procedures for owners and entrepreneurs like you who don’t have time in your busy day.
So your business will never make the Forbes 500 list. Like any business person you still need accurate and timely statements of your financial position.
If anything, having accurate financial information is even more urgent because you need to know the state of the world in the day-to-day decisions you make about purchasing, advertising, hiring, and more.
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