How to Start a Career as a Freelance Bookkeeper

A freelance bookkeeper handles the basic level clerical side of accounting. Tasks like accounts receivable, accounts payable, bank reconciliations, data entry and payroll are entrusted to book keepers. In general, there is no shortage for work when you are a freelance bookkeeper. This is because all businesses need bookkeepers for their accounting needs. If you have a flair for accounting and patience to handle extensive financial data, then this career might be suitable for you. In order to become a freelance bookkeeper, follow the guidelines noted below.

Attain the Required Qualifications

Bookkeeping involves financial record maintenance of a company. A person with commerce as a background can shine well in this field. To start your career as a bookkeeper, follow the guidelines:

  • Opt for finance and accounts related subject in high school and graduate with high scores.
  • Complete your bachelor’s degree in a related subject.
  • There are some specialized courses for bookkeeping that are useful.
  • If you have basic knowledge with handling accounts and finance, you could opt for a job with on job training.
  • Take interest in mathematics from early stage.
  • Practice by starting to manage your household accounts or of someone else’s business. 
  • Have up-to-date knowledge on software.
  • Get knowledge about the industry and learn to fix your prices according to the nature of each project.

Working Conditions

Freelance bookkeepers are employed by small businesses, chartered accountants, financial planners and companies of different kinds to maintain their financial records. Hence, you might have to work according to their timings. As a freelance bookkeeper you might have to engage in the following tasks:

  • Interacting with the client to get to know the complete details of the task.
  • Maintain the check ledger by drafting and recording check details.
  • Invoicing details of financial transactions and keeping a record of outstanding payments.
  • Keeping track of the client’s line of credit and expenses.
  • In small establishments, a freelancer bookkeeper also keeps record of payrolls.
  • Tax information of the company is also maintained by a bookkeeper.
  • To have a clear view of the company’s financial standing, a freelance bookkeeper is sometimes asked to maintain a balance sheet.
  • Reporting the finished task to the client for approval.
  • Correcting errors.
  • Maintaining your own invoice, advertising your service through various means.

Benefits of Bookkeeping Job

As a bookkeeper, you get the most important details of the company. This way there is lot of possibility to acquire more knowledge and apply for projects of advanced levels. After gaining some experience, you could train to become a financial planner. The average pay for a freelance bookkeeper is between $25 to $50 per hour. This will increase with your experience.