Welcome back to the blog!
Today I am sharing why I decided to start my bookkeeping business. If you’ve ever thought about bookkeeping as a profession or a way to get extra income then keep reading, this may spark some inspiration!
If you are new to the blog welcome! My name is Jasmine and I officially started my bookkeeping business and today I’m going to be telling you a little about it!
If you didn’t know, 5 months ago I quit my safe corporate job to really see what I wanted to do with my life. I spent the majority of 2020 working from home and overwhelmed with my toddler who was also home due to the pandemic. I really looked at my life and wondered what’s next? Is this what I really want?
While I am still unsure, I know that I want to enjoy my time at home with my daughter and make some money too!
I’ve been dabbling in different fields and industries testing how I feel with each idea I have. Right now, bookkeeping makes so much sense. I have an accounting background; I have a BS in Business Administration/Accounting and an MBA with a concentration in accounting. I also worked professionally in private, public and non profit accounting for 5 years. Although I’d questioned if I wanted to continue in the public accounting field when I resigned from my job – I’m optimistic about my own bookkeeping business!
I’m optimistic because bookkeeping and accounting are similar but they are different lol. It’s completely different from corporate, but It allows me to have more control. It’s mine; I can scale up or scale down if I need to. I can choose which clients I work with and how many clients I want to work with at once. The overhead is low, I have just about everything I need at home to make this work which is great! Low start up costs make me smile!
I decided on bookkeeping because I wanted something that I felt comfortable doing but I could still give it my own twist and customize it a little. I love that I am still helping others but just a different group of people. It meshes nicely with my lifestyle and goals. I’m super excited!
Have you ever thought about starting a bookkeeping business?
Here are some reasons why you may want to look a further into it if you are interested:
You don’t have to own office space. You can work 100% remote if you like. All you need is an accounting software like QuickBooks, some training which QuickBooks provides for free :), some experience/ willingness to learn and put in the work. It’s all on you. Of course, you will also need a reliable internet connections and a computer.
There is a high demand for accounting professionals due to the nature of the business. All business have to have some kind of accounting in place in order to remain compliant to laws. The fact that there has been an increasing amount of small businesses and entrepreneurs emerging recently means even more demand to come.
This means you could charge a decent rate for your services granted you know what you are doing, you are honest and work with integrity and actually provide your clients value. The rate for bookkeepers in my area (working for a company) is around $20/hr. If you have a specialization or you are licensed (Certified Public Accountant or Certified Bookkeeper) I’m sure you could charge more.
Peace of Mind For Client
Clients have businesses to run, they don’t always have time to do their own books and some business owners may despise doing their own accounting or may not even know how to do it at all. That’s where bookkeepers come in. We relieve you of the daunting tasks of accounting and bookkeeping and will support you and your business and make sure its’ healthy financially.
Integrity is absolutely necessary to help provide peace of mind for your clients and even your own business. If you don’t have integrity then you are putting your business and your clients at risk. It’s definitely not worth tarnishing your business name or personal reputation and messing up your money just to please a client (if they don’t abide by all laws regarding accounting).
Ultimately, starting your own bookkeeping business can be extremely profitable and I’m ready for the challenge!
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