Start Bookkeeping for Small Business
how to start a small book keeping business when you think of working from
home then starting and running a small book keeping business will be a
profitable one other than its low cost
there will be no requirement of any office space so no rent to be paid as
well
on the other hand the person must be aware and understand the different
accounting procedures and have the special quality of paying attention to
each and every detail
in addition a qualification and accounting is not required
since you are not similar to an accountant who offers financial opinions
your customer
basically
the job of a bookkeeper is to guarantee that the income and expenses are traced
and entered statements for banks are dealt with the payroll of an employee
has worked on and disbursements as well as invoices are suitably recorded start
up prices and funding sources the basic requirement for you to start and provide
bookkeeping services are only a pc along with accounting software or merely a
fundamental spreadsheet for this you need to spend only a thousand to two
thousand dollars reckoning on your financial plan
as for the financial part you can either use your personal savings or even go in
for loans which can be a pain from the small business administration
it is not very difficult to get an approval for small amount equal to 50
thousand dollars
nevertheless to get alone you have to submit your business plan which consists
of the future income and expenditures that you would be making out of your
business and your growth possibility as well
pricing parameters the rate that you can charge for the bookkeeping services that
you provide will depend on the work volume
you can also charge based on time and such rates can be twenty to fifty
dollars per hour on the other hand some bookkeepers provide such a service for a
fixed price between 200 and 800 every month
relying on the nature and degree of the work needed promotion and marketing
the majority of your clients will be only small business owners who lack time
and neither bookkeeping to be done accurately
hence they would like to outsource the work to a bookkeeper like you who could
trace the whole lot and supply them with a statement every month and owners of
retail stores or service providers like doctors
plumbers and lawyers will be looking for your services
the reason is is that these people would like to concentrate more on their
businesses and not on other administrative duties
hence you need to promote your business and yellow pages in the beginning
you can also scan through companies that publicize and journals or newspapers and
get in touch with them to promote your services via telephone actually anyone
owning a business will require your services and you will be able to find a
long list of prospective clients that you can contact in reality you can as
well
contact big bookkeeping firms for recommendations
since they had times may not be able to manage their clients there by would like
to refer the smaller businesses to you
furthermore you can network with trade associations or business clusters in
your region for self-promotion of your bookkeeping business when you become
more accomplished your fame will augment mostly due to recommendations from
existing customers
the necessary tools APC accounting software and a printer are the devices
that you need to have optional training knowledge or required expertise
even though it is not a necessity for you to possess an accounting
qualification but still if you are formally trained in this area it would
be an addict qualification and your clients will trust you with their work
you can join a course that is offered by community colleges or other accredited
institutions and get to know the basics of bookkeeping
indeed you can find out from the american institute of professional
bookkeepers for a record of their members who provide these services
you must also have the skills to manage and control your business you need to
know the legalities how to hire plan and market your business you must be well
versed in drafting your business proposal
so that you can be at ease once your business picks up revenue potential the
money you can earn from this business depends on the effort and time that you
put in you will find that some bookkeeping businesses have grown to the
extent of generating revenue to the tune of a hundred thousand dollars a year
while others
mayor and only forty thousand dollars in state lack in effort your target market
without any doubt the target market is vast for bookkeeping business since
bookkeeping forms portion of managing a business all owners of a business are
accountable for their bookkeeping
this entails that any small business owners who do not have the time and the
interest for bookkeeping can be your target market tips for success
in case you are able to provide outstanding services to your present
customers that you can get excellent reviews and recommendations for your
business
this is indispensable and spreading your business through word of mouth is more
beneficial for speed development of your business
also the job of a bookkeeper is thorough and needs a person having capability to
concentrate on details as well as son we read with scrunching numbers a
bookkeeper has to be truthful and practice honesty with regard to the job
this is particularly factual when a bookkeeper is cursed by the customers to
manipulate the figures in the records
you can walk away under such a situation instead of tarnishing your name in the
business field