How to Open Your Own In-Home Bookkeeping Service
Bookkeepers maintain financial reports and are skilled in single-entry ledger work for small businesses. Clients supply their receipts and other statements for bookkeepers to record.
According to the Bureau of Labor Statistics, the bookkeeping field is likely to grow 10 percent through 2018. To be successful in this business, you should enjoy working with numbers, be detail-oriented and honest, have necessary bookkeeping skills and be able to network and create business for yourself.
Other People Are Reading
Instructions
-
-
1
Find out your city's zoning laws. To start a bookkeeping business in your home, you need to be sure it is legal to have a home business in your neighborhood. This is important since it's likely your clients will need to stop by your home office at some points. If zoning laws don't allow clients to come to your home for business purposes, you will need to figure out where you will meet them when necessary.
-
2
Ensure you have the education and experience needed. Although a degree isn't necessary to practice bookkeeping in the U.S., it is a good idea to take some classes and get certified. You can likely take courses at a local college or university or even online. Your classes should be comprished of payroll processing and reporting, journal entries, accounts payable and receivable and proficiency in at least one accounting software package.
After a couple of years of experience, look into becoming certified. To obtain a bookkeeping certification, one needs at least two years of experience and he needs to successfully complete a national exam. Certified bookkeepers have to meet a continuing education requirement every three years to keep their certification.
Visit the American Institute of Professional Bookkeepers website for more information.
-
-
3
Find your specialization. For instance, you might decide to work with only typical fiscal years (January to December), or you might choose to work with focused, company-specific fiscal years. You may decide that you only want to work with small businesses or with large corporations. One benefit of having a niche is that people will often pay more money to an individual with a specialty.
-
4
Determine your prices. One way to decide how much to charge is to ask or research what other bookkeepers charge for their services. According to InsiderReports.com, bookkeepers generally charge anywhere from $20 to $50 an hour for typical services; they usually charge more for specialized services like putting together tax reports. Additionally, some bookkeepers charge a flat, monthly rate instead of an hourly fee.
-
5
Market your business. Use business cards, brochures and other print products to let people know about your bookkeeping service. This will also help you maintain a professional brand. You can also create flyers to hang up in places where your target market frequents. Additionally, you can place ads in your local media, create a website and join your local Chamber of Commerce so you can network with other entrepreneurs.
-
1
References
Resources
- Photo Credit office image by peter Hires Images from Fotolia.com
