How To Become a Part-Time Bookkeeper in 6 Steps

Assets in Accounting — Learn common types of assets, account for inventory, understand how to record depreciation, and record transactions in relation to the accounting equation. Please note that all salary figures are approximations based upon third party submissions to SimplyHired or its affiliates. These figures are given to the SimplyHired users for the purpose of generalized comparison only. Minimum wage may differ by jurisdiction and you should consult the employer for actual salary figures.

These firms specialize in bookkeeping and accounting, so their specialists will likely be more experienced and provide greater expertise than hiring an in-house bookkeeper. This is highly beneficial to companies entering a growth stage without having to provide additional office space or pay salary benefits. A full-time bookkeeper is typically expected to handle everyday accounts, keep account books in order, and take care of tasks that are small and large . If your company has a lot of employees, records a lot of transactions daily, or has complex financial systems, a full-time bookkeeper is a necessity rather than an option.

If you become a QuickBooks Live bookkeeper, you can work from home based upon an agreed schedule at a set hourly rate based on your location, interview, and experience level. Customers schedule an appointment to have a bookkeeper review their transactions, and multiple schedules are available to choose from. You will have access to a client management portal, and can communicate with customers through video conferencing and messaging. If you’re interested in being a freelance virtual bookkeeper, you can sign up for freelance marketplace websites to connect with potential clients.

Common Misconceptions About Bookkeeping

While this may be a lucrative option on paper, any oversight or error in the sheets will come at your company’s expense. A good way to prepare for entry-level virtual bookkeeping jobs is to familiarize yourself with frequently-used accounting software. When you feel you have enough education, you can begin applying for jobs or start your own bookkeeping business. You will need to learn how to start a bookkeeping business in your location, such as how to file for a license if you choose to have an in-person office. Bookkeepers are not required to have certifications or specific education unless required by a specific employer.

• Our bookkeeper has been on top of it and provides monthly reports, so I can literally spend just 10 minutes a month seeing where we are at.
• Firms offering outsourced bookkeeping services tend to also be flexible to make sure their solutions fit your specific needs.
• Before looking to hire a full-time employee to maintain your books, you should first figure out what kind of responsibilities you need to have handled.
• Stop worrying about your business’s financial well-being and tax liability.
• A virtual bookkeeper must meet the same educational requirements as an in-house or in-person bookkeeper.

You need all these to be able to manage your client’s finances and communicate with them. If you want to test the waters first and see if this job is a good fit for you, you can apply for a bookkeeping internship. This way, you’ll see and know first-hand how bookkeepers work and learn techniques you can use for your own business. One reason why you should consider becoming a part-time bookkeeper is because you won’t need related work experience or a degree to pursue it.

Do I Need a Degree or Work Experience to Become a Part-Time Bookkeeper?

Bookkeeping is a part of the accounting process that involves recording financial transactions. This could include how a business tracks client invoices, bills, receipts, or other purchases. Bookkeeping may also include the creation of financial statements and processing payroll.

Freelance jobs can range from quick temporary projects to long-term employment. However, they may be less likely to offer training or educational opportunities. Therefore, there are often opportunities opening up for in-house bookkeepers, remote bookkeepers, or freelance bookkeepers. Another key benefit to outsourcing bookkeeping to aprofessional CPA firmis the level of expertise received. Small businesses and even mid-size companies don’t always hire the best talent to handle their daily and monthly bookkeeping responsibilities. Without significant prior experience in bookkeeping, it is impossible for a business owner to gauge the expertise level and capabilities of an in-house bookkeeper.

Now, let’s get on to the six steps you need to take to become a part-time bookkeeper. These are the basic guidelines you can follow as you carve your own path towards your career goal of working remotely. In addition to moving up into higher-level positions, remote QuickBooks Live bookkeepers may also be able to enter into the tax domain by completing Intuit training and certification for taxes. Most remote QuickBooks Live bookkeepers work from home which means you need a reliable hard-wired internet connection and a landline phone. Intuit will provide a laptop with all the technology and software required to meet your responsibilities.

Step 2: Familiarize Yourself with Accounting Software

The rate varies depending on the complexity of the scope of work and the location. Here at Bookkeepers.com, we believe you should build your business around your life, and not the other way around. Having your own bookkeeping business allows you to gain what we call the 3F Lifestyle. Sending invoices to clients for services or purchases so the company knows what is due to them. To illustrate the cost efficiency of a part-time bookkeeper, consider the following example. What are the challenges you’re facing when it comes to launching your own bookkeeping business?

The lesser cost of a part-time bookkeeper (as opposed to a full-time employee) is the biggest benefit for companies. A part-time bookkeeper will usually cost more per hour than full-time bookkeepers, but the total monthly cost will be less. The actual hourly fee of part-time bookkeeping can vary according to location, duration, and daily responsibilities. You can learn from online tutorials, or by asking a professional bookkeeper to train you. Knowing how to use accounting software will add value to the services you can provide your clients later on. The role can function as a part-time job to supplement other income, or you can be a full-time bookkeeper.

Employee can manage own hours and work at their convenience so long as the work gets done by our reasonable deadlines. SimplyHired may be compensated by these employers, helping keep SimplyHired free for job seekers. SimplyHired ranks Job Ads based on a combination of employer bids and relevance, such as your search terms and other activity on SimplyHired. No matter how simple or complex your bookkeeping needs, you’ll get the oversight and structure you need on a regular basis.

However, completing a bookkeeping certification program can teach you basic accounting and how to perform bookkeeping tasks and has the potential to set you apart from other bookkeepers. When it comes to pricing your services as a part-time bookkeeper, remember to take your time into consideration. Your work hours will vary depending on how complex the business or industry of your client is. If you want to start a career in bookkeeping while enjoying the convenience remote jobs bring, working as a part-time bookkeeper may be perfect for you! If you’re interested in becoming a QuickBooks Live bookkeeper, Intuit can provide you with the tools necessary to learn bookkeeping and accounting skills and get certified. Get started by signing up for the Intuit Bookkeeping Certification program today.

Understanding your chart of accounts examples for bookkeeping services and their costs will help you tremendously in ensuring the long-term growth of your company. The great thing about this is you have the option to expand into a full-fledged business even while you’re working on your bookkeeping jobs from home. Take advantage of this opportunity and go for a career that fulfills you personally and professionally. As a part-time bookkeeper, you need to be able to work remotely and manage your time properly. One way you can start practicing that is by taking an online bookkeeping course.

The average salary for a bookkeeper in the United States in 2018 is around$14-$17 per hour which is about$2,400 to $3,000per month. The average annual salary for bookkeepers is between$37,000 to $47,000(per Salary.com). In addition to the hourly charges, state & federal laws will also likely require you to pay for the employee’s benefits such as health insurance and vacation time. These benefits add a significant amount to the annual cost of an in-house bookkeeper. As your business grows, you will need to focus more on detailed financial reporting and following state & federal regulations. This requires a more concerted effort and direct oversight by a qualified professional.

Virtual Bookkeeper

Eventually, you can stick to the ones that’ll allow you to serve your clients in the best way possible. Even though it’s not a requirement, you can also consider working as a bookkeeper for a traditional company. Not only will this work experience add up to your credibility, but it’ll also allow you to get in contact with people within the industry. Learning a new skill and trying to start your own business at the same time can become overwhelming. Having someone to guide you through the process can take the load off your shoulders and help you focus on what matters. Accountants also hire their own in-house bookkeepers, and they usually pay $30 to $50 per hour.

• One of the biggest disadvantages of hiring a part-time bookkeeper is that they provide only partial support in an area of business that requires a lot of attention and detail.
• Whether you are already in the bookkeeping field or just starting out, this guide can help you determine your next steps.
• Learn about bookkeeping, typical responsibilities, how to become a bookkeeper, and remote bookkeeping opportunities with Intuit’s QuickBooks Live in the U.S.
• As a bookkeeper, you may need to help the business learn the best practices to keep their financial records up to date and organized.

Recording day-to-day financial transactions and completing the posting process. This is a part time position and with flexible hours and the ability to work virtually, occasionally onsite support may be required. Our bookkeeper has been on top of it and provides monthly reports, so I can literally spend just 10 minutes a month seeing where we are at. These activities can help you stay competitive and even connect you with clients. Remember, professional development is a must if you want to stay relevant in the market.

Most bookkeepers perform basic data entry, but our experts can go deeper to help interpret the numbers and advise you on the decisions you can make to grow your business. We offer an unprecedented level of quality for a fixed monthly fee, allowing companies to focus on growing their revenue while we handle all the daily, monthly, and annual financial work. Lalea & Black is a full-service Los Angeles CPA firm specializing in outsourced accounting, bookkeeping, business management, and tax services. Prepare everything you’ll need now so you can build a legal business as a part-time bookkeeper. The basic tools you need are a computer, a reliable Internet connection, and accounting software that works for you.

One of the biggest disadvantages of hiring a part-time bookkeeper is that they provide only partial support in an area of business that requires a lot of attention and detail. This is an added burden to any company owner who is also responsible for many other key areas of the business. Part-time bookkeepers typically perform smaller tasks like inputting receipts and keeping tabs on employee timesheets. Companies will often choose to train an existing employee or office manager to take on the extra responsibilities of a part-time bookkeeper.

Not every business has the same bookkeeping needs as others, and their needs will likely change as the company experiences growth. Part-time bookkeepers and outsourced bookkeeping firms are a sound solution for new businesses, while full-time bookkeepers tend to benefit more established companies more. It’s up to the decision makers in the company to determine the best appropriate solution to maximize their profitability and ensure their growth.