If you are one of the many job seekers out there struggling to find a job in today’s job market, and you happen to have a way with numbers, you may be able to stop your job hunting right now. If you are extremely good at bookkeeping and have some on the job experience from previous work, you might want to consider starting your own home bookkeeping business. Of course you will have to have some knowledge of the bookkeeping practices that are accepted. But, if you do, there’s no time like the present to start planning.
The first thing you should do is sit down and make out a business plan for yourself. This will help you organize your business criteria, figure out a budget for the money it will take to start up and it will also allow you to make an outline of all of your goals. You can find guidelines for making a business plan if you visit the Small Business Association’s website.
With a work at home bookkeeping business you can offer many different kinds of services not just to small business owners but to individuals as well that are in need of someone to help them with their financial matters. You need to first figure out however; what services that you are going to offer and then make a presentation for your possible clients. This could be something as easy as listing the services that you offer or make a detailed brochure to give them. You could include any kind of taxes including payroll taxes and income taxes. You could include collections, bill paying, invoicing, doing their month end reports for them, whatever you have had experience with you need to make sure it’s on your list of services.
When you set up your own bookkeeping business at home you need to make sure that you have all the office items that you need including a good software program like QuickBooks. Quickbooks is probably the most often used bookkeeping software program in the small business world. Make sure that all of the software you do purchase works well with your Microsoft Office Suite that you should also have installed on your computer. You will also need a calculator and other typical office supplies that you will need to help your home business work smoothly.
Even if you have experience with using QuickBooks, you might want to consider getting certified because this will help you with how credible you look as a bookkeeper. They offer a course online and should not take you very long to get certified.
You will also need to print your own business cards out so that you can pass them out to your local small business owners. Advertising will also be a must. You don’t really need a website but for advertising purposes you might consider getting one set up. Also, never think that word of mouth does not work, it is probably one of the best ways to get the word out about a business whether it’s good or bad. So make sure that you tell all your family, friends and even people you use to work with about your new business venture and ask them to spread the word.
When setting up your home business it’s a good idea if set yourself up with some sort of professional structure like a Limited Liability Corporation, or you can choose to be a Sub S corporation or simply name your status as a sole proprietorship, this is mainly for tax reasons and your own protection. Do your research because the type of structure you choose is going to be important to the type of bookkeeping that you plan to perform. All of this will depend upon whether you are seasonal and help people prepare taxes or if you will be keeping books for a small business all year or if you are going to offer a service that will include paying their bills, creating their invoices, doing their payroll, doing reports and bank reconciliations.
There are a lot of different benefits you will gain by running your own home business. For one you can set your schedule the way you want it, you can choose who you want to do business with and you are more accessible to your family. There is a lot of freedom when you venture off into this type of a business.