7 Reasons Why Virtual Bookkeeping is a Great Job For A Stay-At-Home Parent

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The company has an all-virtual staff and offers bookkeeping, controller and advisory services. If you have experience as a bookkeeper or a related field, you can brush up on the basics and get started. For the most part, standard bookkeeping and accounting practices stay the same over time.

Virtual Bookkeeping Is Easy to Learn

That’s how much you can grow with a virtual bookkeeping career. When you’re still starting, don’t set high expectations on your income just yet. You can increase your rates as you get better at what you do and gain more clients. If you want to earn money but you’re still not quite ready to delegate the household management to someone else, online bookkeeping is a great career choice. A virtual bookkeeping job won’t take away your time with your children.As a partner and parent, your first priority is your family. Being a stay-at-home mom or dad has several wonderful benefits you might not realize yet.

Find out more about what bookkeepers need to be successful during the free discovery series at Bookkeepers.com. Manage e-commerce New Grow your product-based business with an all-in-one-platform. Compare to other software See how we compare with other financial solutions.

• If you’re good with software, have a knack for organization, and enjoy numbers and problem-solving, bookkeeping could be an excellent remote job for you.
• If you are operating a small, one-person business from home or even a larger consulting practice from a one-person office, you might want to stick with cash accounting.
• It cost THREE THOUSAND DOLLARS and it still won’t have you working from home.
• To be considered for a virtual bookkeeper position at Belay Solutions, you will need at least five years of previous experience.
• Aside from the family, moms and dads also have the household to manage.

This job offers you the freedom to bring your work with you so your life doesn’t revolve around it. Not to mention, working in a different environment can help motivate you. For in-person marketing, you’ll definitely want some business cards printed up as soon as possible. Networking can happen anywhere from a chamber of commerce meeting to the dentist’s office or the school pickup line.

Not all of these companies hire bookkeepers on a full-time basis. But they all have options for work-from-home bookkeeping work. Many companies that hire bookkeepers to work from home on a part-time or full-time basis require previous experience.

How a Bookkeeper Is Different Than an Accountant

Becoming a certified bookkeeper requires passing an exam to get a bookkeeping certificate. You’ll be dealing with a lot of financial data and numbers in this career path. If you’re not a numbers person, it may be worth practicing some basic accounting and math skills to prepare for this type of career. It’s completely possible to become a skilled and successful freelance bookkeeper without the need for a specialized degree or lengthy certification. While more education is always a bonus, many successful freelance bookkeepers start right out of secondary school. In this guide, we’ll walk you through the steps needed to become a bookkeeper and start your own bookkeeping business.

Costs, also known as the cost of goods sold, is all the money a business spends to buy or manufacture the goods or services it sells to its customers. The Purchases account on the chart of accounts tracks goods purchased. Assets are what the company owns such as its inventory and accounts receivables. Assets also include fixed assets which are generally the plant, equipment, and land. If you look you look at the format of a balance sheet, you will see the asset accounts listed in the order of their liquidity. Asset accounts start with the cash account since cash is perfectly liquid.

Is bookkeeping a good side hustle?

Some clients will want a bookkeeping system but won’t want to pay for software. Fortunately, Fundera has a thorough, step-by-step guide to creating a basic bookkeeping system in Excel. Quickbooks offers extensive free tutorials on all versions of its software. You can browse through its massive library of articles and guides, or register for a one-hour webinar with a QuickBooks expert.

Bookkeeping certifications exist — and they can help you expand your business down the road — but you can get started and earn a good income without them. You can always pursue certification once you have a stable income. BookMinders offers both full-time and part-time opportunities for workers. Bookkeepers is a company that knows that you want to work for you, not some random faceless company.

Assuming a 40-hour workweek, this is equivalent to a salary of $35,000 a year. However, bookkeepers can make up to $60 per hour if they receive the right bookkeeping training. Businesses need to keep records of their inventory, sales, expenses, and invoices. Their work is important because it assists accounts that review financial information and paint a larger picture of a business’s overall finances. No, a separate office isn’t necessary for a bookkeeping business. As your business grows and you hire employees, you can consider whether to rent office space or keep working remotely.

These post closing trial balance and their sub-accounts make up the company’s chart of accounts. Assets, liabilities, and equity make up the accounts that compose the company’s balance sheet. You also have to decide, as a new business owner, if you are going to use single-entry or double-entry bookkeeping.

Bookkeepers work in partnership with a company’s CPA, CFO, controller and accountant. The company prides itself on creating a work-life balance for its employees and supporting employees’ personal and professional growth. If you’re ready to work from home as a bookkeeper, you can reach out to companies you might have worked with before.

Higher-tiered plans unlock more transactions and a more frequent service level. It’s also ideal for brand-new businesses because FinancePal can help with entity formation. To advertise your business and spread the word to your clients, you’ll need to create a website, particularly if you plan to work with several clients on a consulting basis.

If you want to work for a company as a bookkeeper, you usually need a degree in business, accounting or a related field. Related experience dealing with budgets and balancing the books can help get you on the right track. As a bookkeeper, you may be responsible for a company’s accounts payable, payroll and bank reconciliations.

Remote bookkeepers can work full-time, part-time or on a freelance basis. It’s never been easier to find a great-paying online job — even when you don’t have prior experience in a particular field. And many people are surprised to learn that online bookkeeping, which is among the most lucrative remote work options, falls into that category. Whether it’s working remotely full-time or freelancing, more people are seeking ways to work from home. No matter your skill set, there are opportunities to make a living from the comfort of your own home. One of the most popular work-from-home jobs is online bookkeeping jobs.

But once everything is set up, it can pay off in a big way over time. Bill.com, for instance, has created an affordable and accessible platform that freelancers and smaller companies can use to send and receive invoices. But the growing sophistication of modern technology is proving just the opposite.