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Bookkeepers are experts at managing the day-to-day finances of a business. They give small business owners vital information to make better financial investments down the road. Some clients will do work at their site, like entering bills, writing checks, sending invoices, and more. In this case, you’ll be responsible for ensuring they make proper entries, reconcile accounts and bank statements, get financial documents, and more. A virtual bookkeeper allows firms both large and small to get expert record-keeping with greater flexibility and reduced cost. Some small businesses choose to do their own bookkeeping to save on costs, while others prefer to hire bookkeeping professionals.
A virtual bookkeeper must meet the same educational requirements as an in-house or in-person bookkeeper. Therefore, you should consider the education opportunities discussed above. Bookkeepers are responsible for recording financial transactions related to the business.
Price Your Services
Freelance bookkeeping jobs offer more freedom as you can set your own schedule, but you will have to find your own clients. However, you can also work as an in-house remote bookkeeper at a non-bookkeeping business. That’s especially true for small businesses like freelancers and mom-and-pops. Many community colleges offer continuing education courses in professional bookkeeping, and there are a variety of online bookkeeping programs. For those of you considering a bookkeeping business, I’ve listed many of the details you’ll need to address. This information is intended to give you a general sense of what’s involved and is not a substitute for professional legal, accounting, and tax advice.
Make sure that your website offers all of the information that your potential clients may need. You can choose the tool that best fits your bookkeeping services needs. As a virtual bookkeeper, you can work from home, a cafe, or beautiful travel destinations. Setting remote bookkeeping up an online business can help you enjoy the benefits of a flexible work schedule and the comfort of working from home. Angie Nelson began working from home in 2007 when she took her future into her own hands and found a way to escape the corporate cubicle farm.
What do you need to become a virtual bookkeeper?
A company hires a bookkeeper to manage and organize its finances, including detailing and categorizing all transactions. They help small-business owners get a handle on their cash flow — one of the most important barometers for a healthy business. They will also often help businesses produce crucial financial statements such as the profit and loss statement and balance sheet. As more people move to working from home, freelancing, or starting their own businesses, you may want to learn how to become a virtual bookkeeper.
According to ZipRecruiter, work-from-home bookkeeper jobs pay, on average, $28 per hour, although the pay can range from $7 to $62 per hour. One of the great things about bookkeeping is that it translates to every field and industry. Nearly every business needs to keep track of their income and outflow, balance inventory and manage payroll.
What is a Virtual Bookkeeping Business?
This business model deviates from the traditional, physical office setup, opting instead for a fully online or digital structure. This flexible and remote setup allows virtual bookkeeping businesses to serve clients from different geographical locations. Furthermore, they offer professionals the advantage of working remotely, contributing to work-life balance while providing cost efficiencies in operation. I have zero bookkeeping experience and was worried about my ability to get clients.
- If you are starting the company with a partner, make sure a partnership agreement is part of your business plan.
- In a typical work week as a virtual bookkeeper, you can expect to work … as much or as little as you want.
- If you want to be a chicken with its head cut-off, you can work 50 hours a week.
- Since this first client was local, Kate met with her a couple of times in person.
- To streamline her bookkeeping work, Kate told me her next steps are to add more processes into her business and outsource some of her monthly work.
Send an email or text to any past employer or clients and ask them to leave a genuine review about your freelance bookkeeping work. Wave is completely free and offers excellent small business features like expense tracking, contact management, invoicing, and even lending. A trustworthy software will help you stay on top of your clients’ bookkeeping and https://www.bookstime.com/ better manage the workflow. Having the right tools and support in place makes a big difference, and your clients will love you for it. Before you start to get clients, it’s a good idea to have a professional and slick website, plus a branded email address. If you’re just starting out and limited on funds, you might consider a sole proprietorship.