How To Become a Bookkeeper With No Experience Online
Bookkeeping is one of the skills which are in high demand. It is a small business which you can start without a large amount of capital investment. That is why; many people are looking for work from home jobs as a bookkeeper (also known as a virtual bookkeeper). However, before you delve in this field, it is essential to understand how to become a bookkeeper from home. Only once you are clear about that, you can start applying for jobs.
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By reading on, you will find this is a detailed guide which will not only help you understand what does a bookkeeper do, but also share with you how to become a virtual bookkeeper and tell you about a free course to get started.
Continuing on, we will start by highlighting the work of a bookkeeper as compared to an accountant. It will help you understand the scope of work which you need to accomplish when you plan on working as a virtual bookkeeper.
Bookkeeper vs. Accountant:
First things first, the position of a bookkeeper is different from that of an accountant. These careers have two different paths. If you want to become an accountant, it is necessary to have a degree. On the other hand, when you want to become a bookkeeper, you need not compulsorily required a degree. There are some other differences as well, apart from the educational qualification.
The job of an accountant is to file your taxes each year. The accountant also prepares your tax returns and work with individuals as well as businesses to accomplish a lot of different tasks like:
• Maintaining the financial records
• Taking into account the compliance with the federal and state tax laws
• Checking your financial statements
• Advising you on how to save tax on money
Many accountants also organize your financial statements. However, they are not responsible for your day-to-day bills or finances.
On the other hand, when you look at the task of a bookkeeper, it is to maintain the daily finances of the business. The bookkeeper is responsible for paying the bills, collecting payments, and clearing pending invoices. The bookkeeper is required to keep day-to-day finances in order so that the business can keep functioning.
The task of the bookkeeper involves things like:
• Regularly updating the financial records of the company
• Creating financial reports
• Ensuring that all the financial records are accurate
• Updating the status of invoices
• Gaining proper record of credits and debits
The job of the bookkeeper, whether companies employ a virtual bookkeeper or those who work in the company office, is to ensure that business has proper liquidity.
They also take into account the finances of the business to ensure that the financial side of the company is functioning appropriately.
There is also another responsibility of the bookkeeper that is to reimburse the employees for any expenses. Similarly, they have to look after the bills which the businesses have to pay. The responsibility to manage proper liquidity daily relies on the shoulders of a bookkeeper.
In a nutshell, you can say that an accountant is responsible for handling the long-term financial obligations of the business like filing for tax returns and conducting audits and the bookkeeper is responsible for the day-to-day finances of the company to ensure that there is ample liquidity.
Do You Need Experience To Become a Virtual Bookkeeper?
You do not need a degree or experience to become a bookkeeper from home. You can learn while working, or you can go through a couple of online courses to know more about the responsibilities of the bookkeeper.
This means that when you’re trying to become a virtual bookkeeper, it is better to know what will be your responsibilities and duties and after that, you can start applying for the jobs of a virtual bookkeeper.
What Training Do You Need?
If you wish to work as a virtual bookkeeper, it is essential to have some basic math skills. Moreover, if you’re going to excel in this field, it is advisable to complete an online course. Instead of just choosing an online course, you have to choose a reputed one like Bookkeeper Business Launch. This Bookkeeper’s course will help you with the basic concepts of bookkeeping. The course is multifaceted and teaches you different aspects of bookkeeping such as:
• Basic concepts of bookkeeping
• How to use technology to your advantage
• How to find quality clients
• How to market yourself to get above average hourly wage.
In the following Youtube video, Veronica does a Bookkeeper Business Launch review and goes over what’s inside the course too…
After completing the course, once you start applying for jobs, you not only will be prepared for interviews right away, but you will know in advance what work you have to do as a virtual bookkeeper. Your job as a virtual bookkeeper will be much easier and you’ll feel more confident working as a bookkeeper.
Another reason why you should also consider some virtual bookkeeping training courses, is that it will provide you with an edge over other candidates. The vacancies available for a virtual bookkeeper are already limited. Once you gain insights with the help of a training course, there is a higher probability of getting a job quite quickly.
You can also start with a free online course in video format here, also offered to help you learn more about virtual bookkeeping to see if it’s the right fit for you.
How Much Do Bookkeepers Make?
According to the site Indeed, the average salary of a bookkeeper in the United States is around $18 per hour. It might vary according to the city in which you are. However, that is just an average salary for employed bookkeepers. This is actually more of an entry level rate.
Since you plan on working as a bookkeeper from home, you can easily earn more than that amount. It is possible to make $60+/hour.
Many companies prefer to hire virtual bookkeeper since they do not have to worry about another full-time employee on their payroll. It is one of the main reasons why the demand for virtual bookkeepers is increasing.
What Skills Do You Need?
The skills which are required to work as a virtual bookkeeper include:
• Basic math skills
• Computer skills
• Communication skills
Apart from that, as long as you have a reliable Internet connection and a computer, you are good to go. With the help of the above course, you can quickly familiarize yourself with the basic concepts of bookkeeping, which will ensure that you do not lack any skill required to work as a virtual bookkeeper.
Where to Find Virtual Bookkeeping Jobs?
There are plenty of websites where you can browse to find Virtual bookkeeping jobs. These include:
On many of these platforms, small and large businesses post their requirements for a virtual bookkeeper. Some of these might be short term, whereas some others might be long-term in nature. You have to browse through them regularly to find more about the virtual bookkeeping jobs available. The best thing is that you can apply for these jobs anywhere around the world.
Steps on How To Start an Online Bookkeeping Business:
Now that you are aware of the skills and the knowledge which you need to start your online bookkeeping business, we will share with you a step-by-step guide which will help you establish yourself as a bookkeeper at home.
1- Get all your resources and tools.
First, you need to gather all the resources and tools. Also, you have to ensure that you complete courses like Learn to be a book Keeper so that you are ready for the job. Apart from that, the resources which you need to become one are:
• An Internet connection
• Bookkeeping software
2- Choose your specialty.
Before you start applying for such jobs, it is essential to decide your specialty. Virtual bookkeepers with a specialty earn much more than their counterparts who don’t. You have to look at the type of businesses needing such services. You can decide to work only with certain kind of companies like:
• Law firms
• Printing businesses
• Media businesses
• Manufacturing businesses
Once you decide your specialty, you will have to accustom yourself with that industry but this also means you can demand a higher rate as an online bookkeeper since you’re familiar with that industry. It will help you not only find the most targeted jobs perfect for you, but also help you earn more. That is why deciding on a specialty is quite essential.
3- Set Your Hourly Rate.
The next thing which you need to do is to determine your hourly rate. We have mentioned the average earnings of bookkeepers above. You can demand a premium over that if you have a specialty. At the start, you can also keep your rates on the lower side if you want to get jobs quickly. It will ensure that you can start working with newer clients at a faster pace. The rate for employed bookkeepers is $18 per hour on average but you can charge up to $60/hour.
4- Setup a Website.
Relying on job websites or freelancing websites to get clients is not a good idea. You have to create your website/blog. There are multiple advantages which include:
• Making a professional appearance
• Marketing your services
• Providing clients with a way to contact you
Moreover, you can expand your services at a later stage and advertise through your website as well. Owing to this very reason, it is a good idea to create a website offering your virtual bookkeeping services. You can learn how to start a blog here.
5- Market/advertise your services.
While you might apply for the jobs which appeared on the sites above, it is also necessary to market yourself. The best way is to create a website for your services as already mentioned. Some of the marketing mediums which you can use include:
• PPC advertising
• Social media marketing
• Cold calling
Generally speaking, once you get a client, chances are if you provide adequate service, you will have a long-term client. That is why; the ROI (return on investment) which you will have on your marketing campaigns will often be on the higher side.
6- Keep up with trends and continuing education.
Just like any other service or business, it is always important to be in the know-how of your industry. You should keep up with the trends and update your knowledge. It will ensure that you can provide the best services to your clients. Once you get the clients, instead of getting complacent, you have to always be on edge to give the best services to your clients that will, in turn, help you expand your business and get rave reviews.
Final Thoughts on Becoming a Bookkeeper From Home
So, if you’re looking to get an online job you can do from home, a virtual bookkeeper is a good option. It allows you to earn and be your own boss, while deciding the number of hours for which you want to work. I recommend you start with this free training online to see if this career is right for you.
With the help of this guide, I hope you were able to find an answer to the question of how to become a bookkeeper from home with no experience. We have covered may intricate details of becoming a virtual bookkeeper, and therefore, making it easier to start a virtual bookkeeping business.
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