How to start a bookkeeping business in 9 steps

If you want to start a virtual bookkeeping business, one of the areas you’ll want to learn is marketing. To make sure your business gets seen and has a shot at generating leads, use these 9 promotion tactics. A virtual bookkeeping business is one of the lowest-cost businesses in existence. And…it’s the #1 most profitable business according to Entrepreneur Magazine. Many bookkeepers start as sole proprietorships, meaning you work alone and provide all the services yourself.

  • A good computer and high-speed internet should be your first investments.
  • To thrive in your virtual bookkeeping career, you must possess and grasp these crucial characteristics.
  • As a business owner, you’ll find that life is only as easy as the tools you use.
  • A Flexjob survey showed that 73% of respondents said they had an improved work-life balance when working from home, including more time with their family, partners, and pets.
  • It is essential for paying taxes, hiring bookkeepers and other employees, and opening a business bank account.

” are great questions that an accountant can help your startup with. Best practices will be to do journal entries yourself if cash is tight in an early startup. For newer teams, keeping business expenses low is the top priority. If startups bring in a ton of cash, this metric will help the business see if their finances are treading water or making a profit.

Financial Records to Keep

Starting your own bookkeeping business requires knowledge, skills, and dedication. But with the right approach and tools, it can certainly be a profitable venture. Keep reading to learn the basics about virtual bookkeeping and what you need to know to get started. When your business wants to know how much earned profit there is for each dollar of revenue, you want to conduct a profit margin ratio.

virtual bookkeeping startup

Now that you know your ideal services and clients, you may have a better idea of how large you want to scale your company. Knowing ahead of time that you will be planning on expanding can help you set your architecture up for easy scaling in the future. The first step in creating any successful business is deciding your goals as a company.

Webinar: How to Stay Compliant While Growing Your Remote Team

Running your own bookkeeping business can be a highly profitable venture, given that you equip yourself with the right know-how and tools. But if you need more personalized, specific advice on how to start your own virtual bookkeeping business, and make money from home, see our other resources today to get started. Don’t worry, we cover all the in-depth tactics in the resources for starting a virtual bookkeeping business below. In this guide, we’ll be covering everything you need to know about starting an online bookkeeping services company and more. You will need a complete office setup, including a good scanner and possibly a printer.

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