How to Start a Profitable Bookkeeping Business 11 Steps

Download your free toolkit, which is filled with tips and advice to support you along every step of the way. The regulations also set out your ongoing duties to the ICB and the disciplinary process that is used if a member breaches the regulations. With regard to professional conduct regulations, these are set out so you can follow basic principles for ethical and professional conduct.

Resources for starting a virtual bookkeeping business

Repetition of your UVP on your website, business cards, and all other marketing materials will help define your start bookkeeping business company’s identity to potential clients. We’ve laid out how to start a bookkeeping business in 15 steps. You’d better bookmark this page—you’re going to want easy access to this info as you build your bookkeeping business.

For long-term goals, jot down where you see your business five or ten years from now. You should consider other aspects of running a business, such as the number of employees, offices/franchises, expansion to other regions/industries, etc. You can easily integrate the platform into your website to allow clients to pay for your services, or send out invoices or direct Pay Links. You can accept credit and debit cards, ACH transfers, and a wide variety of other payment methods.

Business Name and Structure

• You should consider the licensing fees when deciding where to locate your virtual bookkeeping business.
• For instance, you may want to commit to making x number of phone calls or sending x number of messages every day.
• Starting a bookkeeping business is relatively low-cost compared to other professional services.

To become a virtual bookkeeper, you should have the same essential qualifications as an on-site bookkeeper. Bookkeepers tend to be pretty good at accounting, have good math and basic computer skills. The content provided on this website is for general informational purposes only and should not be construed as legal, tax, or professional advice. While we strive to maintain accurate and current information, business regulations and requirements vary by jurisdiction and are subject to frequent changes. The financial investment needed to open a bookkeeping business reflects the specialized tools and resources required for managing client finances effectively.

Bookkeeping qualifications and certifications for becoming a bookkeeper

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As your bookkeeping business grows, consider hiring additional staff, expanding your service offerings, and optimizing your workflow to handle increased demand efficiently. You will likely want to establish a business banking account and credit card. This can help you keep your own business expenses organized and separate. If you plan to hire employees, such as an administrative assistant, you may also want to seek a small business loan. Attend industry events, join trade organizations like the National Association of Certified Public Bookkeepers, and connect with other professionals in your field. Word-of-mouth referrals can be a powerful source of new clients.

Your market research, along with your knowledge of your skills, should help you determine your niche. Think of your niche as a clear and specific direction for your business. It can be as simple as serving local businesses under 10 people or companies with an entirely remote workforce. However, if you’re already a CPA or professional bookkeeper, then read on—you’re ready to start your bookkeeping business, and we’re ready to show you how.

It can be 10 pages, or it can be 1 to start, and it doesn’t have to be perfect—it just has to exist. Want to start a bookkeeping business but wondering, “Is starting a bookkeeping business profitable? Kelly is a former Editor, SMB at Forbes Advisor, specializing in starting and marketing new ventures.

• But besides the boring technical stuff, you also offer a core set of working benefits that can make an immediate impact on a company’s financial health.
• The market is there; small business owners and large corporations need bookkeepers.
• Health insurance is a much sought-after benefit if you plan to hire employees.
• After all, every business needs the services you provide, whether they know it or not.
• And although certification is optional, it’s a good idea to get certified since it lends credibility to your business.

The first step is to decide on what type of bookkeeper you want to be and how much time you can dedicate to it. Generally, you’ll charge either an hourly rate or a monthly fixed fee. You may even negotiate a retainer fee with some (or all) of your clients. Then, you can make connections with friends-of-friends or other people who are tangentially connected to your network.