Bookkeeping from Home: 9 Steps to Starting a Bookkeeping Business

how to start a virtual bookkeeping business

But you may also think about forming a limited liability company (LLC) or corporation. You’ve decided to open a virtual bookkeeping business, but you might be wondering how to get started. In this article, we’ll outline the steps to build your business so you can get up and running and build a full client roster.

  • Furthermore, they offer professionals the advantage of working remotely, contributing to work-life balance while providing cost efficiencies in operation.
  • Figuring out what to charge is any small-business owner’s greatest challenge.
  • Consult a lawyer, accountant, or tax expert to ensure you have the correct information, know your obligations, and be aware of how your choices will affect you.
  • This insurance will cover you against claims you made a mistake in preparing a client’s books.
  • You can accept credit and debit cards, ACH transfers, and a wide variety of other payment methods.

Nonetheless, having prior skills and experience is an added bonus leading to higher pay. But worry not, this guide will direct you to the best online bookkeeping courses. Copilot packages all of its features into a streamlined, custom-brand-able experience so that clients feel secure using your client portal. Picking client management software like Copilot keeps your tech stack uncomplicated by hosting most of your needed software under one umbrella. Now that you know your ideal services and clients, you may have a better idea of how large you want to scale your company.

Chapter 5 – Setup Your Technology

Conversely, without uncovering that pain point, potential clients would likely be more price sensitive. With this interaction, you have uncovered a pain point, which then increases the value of what you’re offering making it easier to get clients. Landing your blog post on Google’s first page will get you a nice flow of web visits and also help you get bookkeeping clients. 2) To get clients, write a well-optimized blog that increases your chances of appearing on the first page of Google. For example, if you’re on the first page of Google for the above keyword, you’ll get 1000’s of hits to this single blog post each year. By doing so, you’ll start to get known in those social media circles and you’ll start to get people connecting with you.

How do I find bookkeeping clients online?

Job boards such as Upwork and Thumbtack — as well as other sites like HARO, Xero, and Quickbooks Pro — often have job postings for both freelance, part-time, and full-time bookkeepers. Since your professional information is on your website, it's easy to apply online.

One of the first steps in starting a virtual bookkeeping business is understanding the demand for the services you plan to offer. In today’s digital age, more and more businesses are moving their operations online, and this includes their financial management. This has led to an increased demand for virtual bookkeeping services as more companies look to outsource their bookkeeping needs to save time and money. Once you have identified the types of bookkeeping services you want to offer, the next step is to set up the infrastructure of your virtual bookkeeping business. This includes building your virtual bookkeepers and accountants team, implementing effective communication tools, and establishing data security and privacy protocols.

Choose a Business Name

My mission was always to help small businesses through my accounting knowledge. I gained experience in forensic accounting, auditing, recruiting, and using technology to help streamline operations. Once you have established a client base, the next step is to manage your clients and their finances effectively. This includes using best practices and tools to ensure that your client’s financial records are accurate, up-to-date, and in compliance with all relevant laws and regulations.

An EIN is optional for sole proprietors, but it allows you to receive 1099s at the end of the year from your clients without giving them your SSN. Lastly, part of this process how to start a virtual bookkeeping business is picking a business name, which you should do with care. You’ll be using the name for years, so be sure it’s a professional and accurate description of your work.

Niche and virtual bookkeeping businesses

Providing stipends for employee equipment can help everyone gain access to the tools they need to work remotely. Never assume that all employees will have a functioning computer at home or all of the tools they need to succeed. Identify hardware needs and make them accessible to those who need them.

You could use Google Sheets or a shared Excel file to manage your team and allocate tasks. You should also consider health insurance as an added expense, especially if you previously had health insurance through your employer. Replacing employer-sponsored coverage can be one of the most expensive costs of going into business for yourself. Business insurance will protect you from claims against your business, but you need the correct types of insurance policies. I quickly discovered that finding another telecommuting job was nearly impossible. I am a single mom of three boys, one of whom has special needs, so I really needed to find something that would afford me a lot of flexibility with a full-time income.

What does a bookkeeper do?

Furthermore, he adds that you don’t need to have a CPA to become a qualified bookkeeper. And coming from a person who has trained over 8400 independent bookkeepers, this is good news for beginners. Over 8400 people have gone through the training, with the majority being inexperienced candidates.

Knowing ahead of time that you will be planning on expanding can help you set your architecture up for easy scaling in the future. Finally, establishing a strong network is crucial for obtaining potential clients and referrals. The more relationships you build, the wider your client base becomes. Good customer service often results in repeat clients and referrals, driving business growth. If you’re remote working from home, you need to reassure your clients that you have taken steps to actively and passively secure their data.

Professional liability insurance and general liability insurance are two different types that many QuickBooks bookkeepers secure. You can ask your friends, family, and previous clients for referrals. You can also market your services on your own website, as well as through paid ads and email marketing. offers all of the above, making it simple for your clients to pay for your services. In just a few clicks, you can set up your payment system via the Pay Dashboard – no technical experience required. The last and most important piece of your business infrastructure is your payment system.

  • People who knew I had been laid off were asking me about my “job seeking” prospects and I would tell them that I was starting my own bookkeeping business.
  • Setting up your online bookkeeping business is easy if you follow all of the steps we’ve discussed above in this article.
  • In this article, we’ll outline the steps to build your business so you can get up and running and build a full client roster.
  • This “why” is the purpose of your firm and it’s important that the purpose of your accounting services is incredibly clear to you, your team, and your clients.
  • Furthermore, he adds that you don’t need to have a CPA to become a qualified bookkeeper.

Select the potential number of users at your company below to get started with your 14-day free trial. Have an expense log ready, and track expenses paid through personal accounts. Set up separate accounts for your business, just like you’d want your clients to do.

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