A laptop and printer are enough to get started—you may even have both already. A scanner can be helpful if you’re dealing with numerous receipts. Also, consider a filing cabinet, desk, and great chair for your dedicated workspace. As long as you have a space to work and a way to keep things organized, you’re good to go. Keep your skills up to date, evolve the depth in which you know your preferred platforms and stay apprised as their features change, as well. You can always attend professional events, too, such as conferences and networking events.
You can also take advantage of office “hoteling” options. Once you’ve settled on a business name, you’ll need to register your business in the state in which you will do business. A business credit card isn’t necessary, but it can be very useful. Having one that’s dedicated to business use only will help keep your personal and business finances separate. If you end up using your personal credit card for business expenses, get into the habit of reimbursing yourself.
It’s a jam packed course that covers not only the essentials of bookkeeping but the secret strategies that separates successful bookkeepers from the rest. 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. The specific amount you charge your clients for bookkeeping services will depend on your certifications, years of experience and familiarity with the client’s business. You can look at freelance sites, such as Upwork, to see what others are charging for bookkeeping services, but you can also learn a lot by asking around.
Box for any paper correspondence, so you can control who has access to your personal address. Running an accounting business requires a different set of skills and experience than working as an employee. Liabilities are what the company owes like what they owe to their suppliers, bank and business loans, how to start a bookkeeping business mortgages, and any other debt on the books. The liability accounts on a balance sheet include both current and long-term liabilities. Current liabilities are usually accounts payable and accruals. Accounts payable are usually what the business owes to its suppliers, credit cards, and bank loans.
Starting Jan. 3, you could get up to $3,500 the same day you file.
If you’d like to build a solid foundation that leads to a thriving bookkeeping business, I highly recommend Bookkeeper Launch and their free discovery series. The low overhead and next-to-nothing startup costs combined with the $80+ per hour rate help it land this coveted title. You will get a far better understanding of the financials so you can be a real asset to your clients. I charge a flat fee, but it is based on how much time I expect my engagement to take monthly times what I want my hourly rate to be.