Have crunching numbers and balancing budgets always been your forte? Maybe you’re not a CPA but you’ve been asked countless times by friends and family to balance their household budget or help them calculate their debt. These might seem like simple skills, but being a math geek can open up your world to so many other great opportunities…
…Like working from home and making up to $60/hr as a virtual bookkeeper, for example.
Sounds great, right? If you’re a math geek, and love numbers, you may thrive in this role. Demand is super-high, too, meaning the chances of you thriving are awesome.
Here’s what you need to know.
Small and large businesses often get overwhelmed with their financial records and daily sales activities. This is where a bookkeeper comes in. Unlike a CPA, who is in charge of the bigger picture tasks such as configuring taxes and preparing returns, a bookkeeper takes care of the day-to-day financial dealings of a business.
The most essential skills include:
- A general understanding of business credits and debits
- Ability to read and understand written receipts and ledgers
- Proficient with financial software like Intuit Quickbooks and Sage 50Cloud
- Able to update financial records and generate coordinating reports accurately
- Properly adjust debits and credits to the correct accounts
- Expert-level attention to detail for calculations and spotting discrepancies
If you’re a whiz at numbers, can spot numerical errors and are able to track large accounts, a job as a virtual bookkeeper may be for you.
Working virtual means you’re freelancing, too. You’re in control of your schedule, your hours, and just about everything else, but there is a little bit of setup legwork to do.
Mainly, you’ll need:
- An impressive administrative resume along with solid client feedback
- A newer computer with accounting software on it. A backup is nice, too.
- A website or social media site to highlight your services
- An email address and telephone number for communication with clients
- Your personal accounting software to track clients and create invoices
There is no lengthy education needed to do bookkeeping. Previous on-the-job experience with accounts payable and receivable is all that is needed. Be sure to keep lines of communication open with clients to resolve potential issues.
Where to Find Clients
If you think a virtual bookkeeping job sounds incredible, the next step is to find the right clients and work. Creating a website with your services is an easy way to advertise, but you’ll still have to cold contact clients and share your web link on social media platforms.
Check out popular sites that hire contractors like:
Be aware that the onus is on you to screen people before you agree to contract with them. Ask questions and don’t be afraid to request a deposit or milestone payments.
You might even have clients close to you. Connect locally by offering services to businesses in your hometown. Set your rates based on what other bookkeepers make in your neck of the woods, and your reputation will grow.
Can You Really Make $60 an Hour?
If you are hired into a company, as an hourly employee, the average bookkeeper makes just under $20 an hour, according to PayScale.com. But if you get certified through the National Association of Certified Public Bookkeepers or the Quickbooks ProAdvisor certification, you can appeal to a bigger client base and charge higher rates.
Performance also makes a big difference. If you can complete tasks quickly and effectively, you can absolutely earn up to $60 or more per hour. But like any work at home or virtual job, you’ll need to be organized and use your time wisely to really see a solid income flow.
Once you get established as a virtual bookkeeper, the sky’s the limit on how much you can make. If you’ve always dreamed of keeping the books and tracking receipts and managing funds, today’s a great day to get started!