20 years ago I started my first home based business working as a freelance bookkeeper. Providing bookkeeping services for small businesses can be a very lucrative home based business. With hundreds of new businesses starting every day, there are plenty of small businesses looking to save money by outsourcing their bookkeeping.
As a freelance bookkeeper, customers give you their paid bills and invoices. Depending on the size of the business you might pick up bills and invoices once a week, or once a month. Then, either at the client's place of business, or at your home, you enter the bills and invoices into an accounting system. It could be a paper ledger system, but most bookkeepers use accounting software. Double and then triple check your work for accuracy, and then print the reports for the business owner. The most common reports are the Profit and Loss statement and the Balance Sheet. As you gain experience and education you might also offer payroll and tax preparation services.
You don't need to be an accounting major to be a bookkeeper, but you do need an accounting background. A good head for numbers, an eye for accuracy, and attention to detail are important traits for a freelance bookkeeper.
You can learn the bookkeeping and accounting skills you need at a number of different places. Many career colleges have a bookkeeping program. You can also check with your local community college or see if there are any adult education classes that teach beginning accounting. I started with community college classes and learned everything I needed to get started in under a year.
You don't need a lot of money to start a home based bookkeeping service. You need a reliable computer and a laser printer. Don't settle for an inkjet printer. You are going to be printing lots of reports and the cost of ink will be prohibitive. Good accounting software will save you lots of time. I like QuickBooks software because it is the most popular accounting software. Your customers will be familiar with it and there is lots of support available.
Once you have the skills and the software, then you are ready to advertise for customers. Your local paper is a good starting place. Joining the chamber of commerce will also allow you to meet new business owners, and potential customers.
Kathleen Parker, EA is a professional tax preparer with 20 years experience helping businesses succeed. Learn more about home based businesses at The Work From Home Pro.
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