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How To Start Bookkeeping Business?

What all do i need to start a bookkeeping business from home?

  • I live in SC. I have about 15 years of accounting/bookkeeping experience and I would like to start taking on a couple of small business clients for some extra money. I have always ...show more

  • Answer:

    I prefer Peachtree, now called Sage 50, but that's because I am detail oriented and like the way it closes each period. QuickBooks is more "loosey goosey" but it gets the job done. Really, if you know what you are doing, it's just a tool. You will probably be picking up/dropping off since you live in the area. You will either be doing "live" bookkeeping or ATF - After The Fact. If you are doing the work at your home, it'll probably be more ATF. This is where the client takes care of invoicing, deposits, etc and you are doing more of a compilation (data entry) and bank reconciliation. Occasionally you may have someone want live bookkeeping. This is where you will enter everything and present them with a list of Payables and their balance. They tell you what to pay and you cut the checks. This is usually best done at the clients since you'd have to make 2 trips. As for "services", if you are a bookkeeper, you offer it all; soup to nuts. The only real choice is live or ATF. breaking up A/P, A/R and such is in-house bookkeeping, not outside bookkeeping. But beware, you probably cannot issue financial statements as this is usually regulated by the CPA Board. At least ones a company would use for a loan and such. You would be able to run internal statements just for management purposes.

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Professional Liability Insurance, that's what I would want to see before working with you. You are currently a bookkeeper, right? What are your tasks? Are you coming from a huge firm, or a smaller local one? If smaller and local, how well would you be able to compete with your current employer. You will find some customers if you are willing to undercut the competition and most businesses will never need a full time bookkeeper. I wouldn't look to go freelance so much as trying to get part time jobs with a few businesses. Honestly, if you don't answer the phone at your office when I call during my business hours (9-5), we aren't doing business. I don't want to be someone's side project, I want their full attention.

Casey Y

A degree in bookkeeping

mario

You can try this free accounting software. ' Wings 2013 Accounting Lite' Its robust, tested, reliable and quite simple to use. It helps to maintains a complete set of books and generates all the reports. It has a dashboard, reports designer and password protected access.

Divya

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