Embarking on a career as a freelance bookkeeper can be a rewarding and lucrative venture.
According to ZipRecruiter, freelance bookkeepers make an average of $24 per hour or around $50,000 per year in the US.
So, if you’re considering entering this field and like the sound of those earnings, we’ve put together 7 valuable tips on how to become a freelance bookkeeper.
What Is Freelance Bookkeeping?
Freelance bookkeeping refers to the practice of offering bookkeeping services to clients on a contract or project basis, rather than being employed by a single employer or firm. Freelance bookkeepers typically work independently and may serve multiple clients simultaneously, providing a range of financial management services tailored to each client’s specific needs.
As freelance professionals, bookkeepers have the flexibility to work remotely or onsite, depending on the preferences of their clients and the nature of the services required. They may work with individuals, small businesses, startups, nonprofits, or other organizations that require assistance with maintaining accurate financial records, managing expenses, tracking income, preparing financial reports, and ensuring compliance with tax regulations.
How to Become a Freelance Bookkeeper
Learning how to be a freelance bookkeeper comes down to your efforts. Developing the necessary skills is only half the battle. The other half is figuring out how to market your freelance business and yourself. Here are some tips to help get you started toward this career.
1. Define Your Niche
Identify your ideal target market or specialize in a specific industry or type of client. Whether it’s retail, hospitality, or e-commerce, focusing on a niche allows you to tailor your services and become an expert in addressing the unique financial needs of your clients. It also helps differentiate you from the more than 1.7 million bookkeepers in the US.
To do this, simply study the financial points of your target industry. For example, if it’s retail, consider things like logistics, sales tax, etc. Understanding these more intricate financial considerations of the industry will help facilitate conversations between you and a potential client.
2. Obtain Relevant Education
Invest in your education by pursuing relevant courses in accounting, bookkeeping, or finance. At Stratford Career Institute, our online Bookkeeping course goes through all the basics of the accounting cycle and fundamental bookkeeping practices. Of course, if you want to stand out further, you can also consider pursuing a certification for a specific program like QuickBooks or Xero.
3. Gain Experience
Seek opportunities to gain practical experience in bookkeeping by working part-time jobs, getting an internship, or volunteering for small businesses or nonprofits. Real-world experience will help you build your portfolio and confidence in handling diverse financial tasks. You can also do small freelance projects on sites built for freelancers like Upwork.
4. Build a Professional Network
Networking is essential in any freelance profession. Connect with other bookkeepers, accounting professionals, and small business owners through industry events, online forums, and social media platforms like LinkedIn. Networking can lead to valuable referrals and collaborations.
5. Set Clear Pricing and Policies
Establish transparent pricing structures and clearly communicate your payment terms, scope of services, and turnaround times to clients. Consider offering package deals or tiered pricing options to accommodate different client needs and budgets, especially for standard work.
Keep in mind that freelance work can be quite varied, so you may even have to do custom pricing for things like account reconciliation. If that’s the case, have an hourly structure in writing.
6. Invest in Marketing and Branding
A good way to get work is to have a thorough brand presence. Create a professional brand identity for your freelance bookkeeping business, including a logo, website, and business cards. Use digital marketing strategies such as content marketing, email newsletters, and social media advertising to attract clients and establish your online presence. This should work in tandem with your networking efforts, showing potential clients that you are a serious professional.
7. Focus on Quality Service
Above all, prioritize delivering high-quality service and exceeding client expectations. By consistently providing accurate, reliable, and timely financial information, you can earn a reputation for excellence and foster client loyalty that sustains your freelance bookkeeping business. In addition, your clients may reward you by referring you to their business partners or acquaintances.
Transform Your Freelance Bookkeeping Career with Stratford Career Institute
Ready to take your career to new heights? Join our bookkeeping course and gain the confidence needed to excel as a freelance bookkeeper. We cover everything from balance sheets and income statements to payroll and taxes.
Enroll now to unlock exclusive access to comprehensive lessons or request more information today.
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Stratford Career Institute offers a comprehensive distance learning course that can help you determine if this career is the right fit for you.