Keep your skills up to date, evolve the depth in which you know your preferred platforms and stay apprised as their features change, as well. You can always attend professional events, too, such as conferences and networking events. Don’t forget that investing in your business means investing in yourself. Remember that the amount that you charge should be contingent on your years of experience, specialization in industries, certifications you carry and your area. And, of course, your rate isn’t fixed — you can always change it if you feel like you’re not priced correctly.
- It usually lasts for one year and is the basis for how an organization runs day-to-day.
- The next day, hop on to LinkedIn, sort through them, and connect with all business owners you met and send a personalized message.
- In other words, they’re all potential customers for your bookkeeping business.
You just need to fill out a simplified application and we’ll take care of the legal formalities at a much more reasonable rate than hiring a lawyer. Order business cards and create a logo to begin branding yourself and your business. Canva is a great free option for creating your logo and other projects. You could also look into Xero if you’d like, which is the second most popular accounting software as of now. I recommend putting in an initial owner’s investment of around $400, and then as you incur small expenses of setting up your business, you can pay for them directly from your business account. This makes accounting clean and organized for the future. The LLC is to form your business into a legal structure, and you only need to do the set up one time.
Do your research and create a business plan
Practice management software is arguably the most important piece of bookkeeping software in your own accounting firm business. You’ll need something that tracks your tasks, deadlines and provides for one central place to communicate on work.
Liability insurance for your bookkeeping business can help if a client sues you because you made a mistake on their books. Insurance can cover the cost of settling a lawsuit and defending yourself against one. In this part of your bookkeeping business plan, choose and describe the type of organization you want to have.
Step 4: Set Up Business Operations for Your Bookkeeping Business
However, even if you already have bookkeeping skills, you can benefit from a course that can teach you how to start your own business how to start a bookkeeping business and find clients. As she got the hang of doing the books for the landscaping company, she branched out into other businesses.
How much can you make with a bookkeeping business?
According to the Bureau of Labor Statistics, the average bookkeeper can expect to earn $18.87 an hour, averaging around $49,000 per year.