Because of remote work becoming more prominent, bookkeeping has become a well liked and flexible enough career path. With all the number crunching and classification of financial records, becoming a Bookkeeper from home might just be the right fit for you. To help you on your journey, here is a complete guide.
What Is A Bookkeeper?
In essence, a bookkeeper is a book account of a company. They are responsible for keeping track of money coming in or going out of a business. They focus on recording transactions, balancing accounts, and creating financial reports. Unlike accountants who hold a degree, bookkeepers manage the daily recording and organization of finances.
Why Work As A Home-Based Bookkeeper?
Flexibility: Set your own schedule and have the freedom of working from home.
High Demand: Small entrepreneurs and businesses often do not have the time to manage all the bookkeeping themselves.
Scalable Income: You can take on more clients as you gain experience and up your rates.
Steps to Become a Bookkeeper at Home
1. Learn the Job
First of all, take time to evaluate the following duties of a bookkeeper:
Managing accounts payable and receivable,
Reconciling Bank Statements,
Preparing invoices and other financial reports, and
Maintaining accurate and up-to-date financial records.
2. Learn the Skills Required
In order to become a bookkeeper, no formal degree will be needed but these skills will greatly help:
Detail-oriented: Accuracy is key in bookkeeping.
Strong Organizational Skills: Handle different clients/transactions at once.
Computer Literacy: Knowledge of accounting programs like QuickBooks, Xero, or Wave is important.
3. Consider Certification
Having a certification isn’t a requirement but it certainly helps in presenting a trustworthy picture to potential clients, along with the following certifications:
Certified Bookkeeper (CB) by American Institute of Professional Bookkeepers (AIPB).
QuickBooks ProAdvisor Certification for those who wish to learn bookkeeping the easy way.
Xero Certification for users who aim to use cloud-based accounting software.
4. Create an Office in Your Home
Create a dedicated area and equip it with the things required to become a bookkeeper:
Computer,
High speed internet,
Bookkeeping software, and
Filing systems or clouds.
5. Get Practical Experience
To start preparing for future job positions, offer your services to small businesses that can be found within your circle.
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Engage with non-profit organizations and volunteer with managing their bookkeeping.
Search for your first set of clients on Fiverr or Upwork.
6. Concentrate on the Growth of Your Client Base
Promote yourself as soon as you feel compelled to.
Develop an appealing site: Focus on what you have to offer and what you know.
Attend business meetups: Be active in the local business community or virtual forums.
Promote your services on LinkedIn or Facebook groups.
7. Focus on Rate Structures
Your skills, market demand, set the foundation for your pricing. Consider the following:
Pay Per Hour: These are quite frequent among novices ($20-$50/hour).
Monthly Subscription Rates: Most suited for clients looking for long term bookkeeping services.
8. Research, Research, Research
As with any industry, the finance sector is a constantly evolving industry. You will have to stay in the loop concerning:
New laws relating to taxation and auditing policies.
Changes in bookkeeping and related technologies.
New courses that help you develop your existing skills.
Reasons People Pursue a Home Based Bookkeeping Career
Enjoyable Lifestyle: Spend quality time with loved ones while still earning a stable income.
Low Initial Investment: You will be required to have a computer, internet and relevant software.
Potential to Grow: Offer services such as payroll, tax filing or even financial advice.
Conclusion
Starting a career as a bookkeeper that works from home is satisfying in so many ways. There is scope for earning, working independently and one gets flexible working hours. Simply by obtaining the required skills, certification and tools, it is very easy to launch a bookkeeping business while sitting at home.
So, are you all set to embark on this new path? The world of finance is eagerly waiting for your skills.
