Providing Small Business Bookkeeping Services

How To Set Up Your Own Bookkeeping Services Business

The amount of entrepreneurs who start their own businesses worldwide is quite staggering. It runs into many tens of thousands each and every month. This provides a great opportunity for skilled people who are willing to provide the services that those businesses require.

This opportunity gives bookkeepers the chance to be their own boss, say goodbye to the daily commute, work the days and hours they like and potentially earn more money by working for themselves instead of somebody else. Working for oneself is typically far more satisfy than working for somebody else and brings good financial benefits too. A further benefit is the ability to pick and choose your clients! No more having to put up with the ones you don’t like because you have to and your job depends on it!

There are fairly few requirements of starting small business bookkeeping services and anybody with good attention to details, is good with numbers and willing to learn bookkeeping software can open a bookkeeping service. The law requires every business to do accounting on a monthly basis and so skilled small business bookkeepers are always in demand.

To start a home based bookkeeping business, you will need a computer, bookkeeping software, external hard drive to create data backups, printer, transport, fax machine, and money to cover start-up costs. Another important thing is to decide which type of business you want. You should obtain information of the various types available to you before choosing the most suitable type for your needs. Other business types include corporation, cooperative and non-profit. Next, a fun stage. You need to decide upon a name for your business and this can be quite a process in itself. You may use your initials, name or a catchy sound-bite to help promote your business. Once determined, you can apply for your business license. Lastly apply for an Employer Identification Number if you intend to take on employees at any stage and you are ready to start. Next, choose the software you will require. Be meticulous. Establish the features and functions you require then source the best software solution for your needs. Peachtree, Sage, Quicken and QuickBooks all have good offerings with Fusion accounting offering a good online software service which is very suitable for this type of work due to it’s portability.

Getting clients is the next stage and this may not be as difficult as you may think. Word of mouth is still one of the most powerful mediums go get yourself out there networking with local business owners as often as possible. Keep good track of your business expenses and pay your taxes when they are due.

As you become familiar with different business accounting needs, you will become more efficient in your work, which will also give you more freedom with your time. Loss of data is a real risk in your business. If not managed correctly, disaster may occur. A computer disk can be damaged very easily if care is not taken and the best way to avoid computer data loss is to create back-ups, which take just minutes. If you lose your data you will have to recreate it at your own expense in terms of hours. Therefore it is imperative that you take regular backups. Reporting back to your clients is also very important. Let them know their business position as often as is required as this will help them plan accordingly. They will then see you as an asset, not just a cost. This will also help when it comes to billing the client; hourly charges start around $20 but do depend upon local competition.

Networking is an important part of a home or small office bookkeeping service because that is where you will find potential clients. Attend as many local meetings and business events as you can where your target clients may be present. Talk to them and distribute cards, but be careful of hard-selling here. A good online presence locally is becoming more and more essential nowadays. Some other clever ways to market your home based bookkeeping business include naming your business with the first letter A. Then, when getting a listing in the business section you will be listed among the first. This also works in the yellow pages. If possible, obtain a phone number for your business which is memorable. And don’t underestimate the power of catchy slogans, but keep them professional sounding too.

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