Starting Your Bookkeeping Business:
As a professional bookkeeper, you keep records of financial transactions for companies, families or individuals. Bookkeepers make the financial entries into the books, whereas accountants create reports (such as income statements or balance sheets) from these entries. Sometimes bookkeepers are referred to as "accounting clerks", but they simply record the day-to-day transactions of their clients in what is commonly called a daybook.
Bookkeeping is now usually done on a computer because it can done more quickly. Documents and other financial data can also be kept online for easier access to both bookkeepers and accountants who share the information. This makes for a very convenient and efficient home-based business. Outright.com provides free online bookkeeping to small businesses and bookkeepers.
Penn Foster Career School is the largest accredited online career school, and they offer a bookkeeping training course that you can take from home. You can then become certified by the American Institute of Professional Bookkeepers, which is essential in gaining the trust of your clients.
You don't need to invest a lot of money in equipment or supplies when you start your bookkeeping business. Intuit has general ledger bookkeeping software called
Quickbooks Simple Start 2009 that you can download or buy on CD for under $100.
If you want step-by-step instructions on starting your bookkeeping service, I recommend the bookkeeper's best-kept secret,
Start a Bookkeeping Business at Home. This is an exceptional all-in-one start-up guide that you can use to get your business up and running fast. It's also a great resource that you can refer back to on an ongoing basis as you keep your books.
Some of the things that I found very helpful:
- How to get started, educational requirements, plus various bookkeeping services you can offer and going rates
- How to effectively market your services, sales & marketing ideas, answers to start-up questions and how to avoid common mistakes
- Step-by-step instructions for monthly bookkeeping requirements, preparing taxes and depreciation with useful forms and additional resources
- Click here >> Start an In-Home Bookkeeping Business
You can also find bookkeeping business plans at Business-Plans-4-You.com. They give you lots of free help and business start-up advice for free when you get a business plan from them.
Start a Quickbooks Consulting Practice
Whether you are just starting your bookkeeping business - or you already have a bookkeeping company - you can add Quickbooks Consulting to your "resume" and expand on the services that you can provide to your customers. This is a simple way to gain a competitive edge of other bookkeepers in your area - and incorporate an additional revenue stream to your business.
Get your questions answered by people who know this industry well. Not sure how to grow your business? Wondering how you'll get clients or what rates to charge? If you want step-by-step guidance, plus advice from other top accounting consultants, this is the right spot. This is a wealth of the exact information an entrepreneurial accountant needs.
Click here for business start-up >> Start a Quickbooks Consulting Practice
Click here for Quickbooks Guide >> QuickBooks 2009: The Official Guide
Checklist for Starting a Bookkeeping Practice:
- Obtain the necessary business licenses. Check with your local government office to find out which licenses and permits you need for your bookkeeping business.
- Set up a business bank account with your local bank. Make sure that the bank is FDIC is insured. It is important to keep your bookkeeping business and personal finances separate.
- Arrange a meeting with an accountant to discuss tax strategies and ways to maximize your business tax deductions. You can get referrals from other business owners you know or sometimes your banker.
- File your fictitious business name with the county clerk, or if you want to form a corporation, see how to incorporate.
- Meet with an insurance agent to discuss insurance you may need for your bookkeeping business. The IIABA (Independent Insurance Agents & Brokers of America) is a good place to start. You can also get free quotes online for business insurance
- Set up your business phone system. Whether you use a toll-free 800 phone number, a multi-line phone system, VoIP or simply add an additional phone number to your existing service, you'll want a designated line to establish a professional business image.
- Order business cards. One of the cheapest ways I know of to advertise a business. See how you can design your own professional business cards online, plus simple tips for increasing your sales >> Free Business Cards
- Get a website. Save money by creating your own website with simple online design programs, or outsource the job to an affordable website designer. even if you just display information about your bookkeeping services on your site, it's important to take advantage of this low-cost marketing resource that can help you gain clients.
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