How to Become a Freelance Accountant

Whether you're a former Big Five accountant launching a new career, or trying to make a little extra money on the side, starting a freelance accounting business is a fairly simple process. Because most small businesses don't retain a full-time bookkeeper, there is never a shortage of work for competent accountants and bookkeepers.

Things You'll Need

• Home Office
• Laptop Computer
• Financial Software (QuickBooks, M.Y.O.B., etc.)

Instructions

1. 

   Know your stuff. This goes without saying, but your knowledge of accounting rules and tax laws is what you're getting paid for. If you're coming out of retirement, or staring new, take the appropriate classes and attain the proper certifications.

2. 

   Define your niche. The world is full of freelance accountants, so by targeting a particular industry or type of company, you will become an indispensible business associate to your clients.

3. 

   Offer flexible services, and do what the other guys don't. This includes working both on- and off-site, preparing tax documents for small companies, or learning a proprietary or industry-specific software package.

4. 

   Network, network, network! Knowing where to find clients is key to making a living. Joining or forming a small business networking group can help with leads.

5. 

   Harness the power of technology. Thanks to the Internet, you don't have to be in the same time zone as the client. Not having the client looking over your shoulder can a nice change of pace.

6. 

   Disaster-proof your business. Maintain local backup copies of all data, off site copies in both physical (burned DVDs in a safe deposit box) and virtual copies (with one of the online backup services).

Tips & Warnings

• Like every other small business, it's all about networking

• Don't be afraid about giving the client bad news about their cash flow

• Likewise, some people have a tendency to shoot the messenger, so be prepared for that

• Be forewarned - people can get very emotional when you're dealing with their money

• Many clients will require a non-disclosure agreement (NDA), but be careful that signing doesn't bar you from working with their competitors