Are you looking for ways to increase your monthly income without having to work long hours or change careers? Becoming an online bookkeeper may be the perfect option for you! With technological advancements, it’s easier now than ever before to become a successful bookkeeper from the comfort of your own home. Even if you have no prior accounting experience, with some practice and dedication, anyone can learn the basics of bookkeeping and build a lucrative career. In this blog post, we’ll teach you everything you need to know about becoming an online bookkeeper and earning extra money each month.
What is an online bookkeeper service as a side hustle?
An online bookkeeper service is a great way to earn extra income as a side hustle. With the right knowledge and tools, you can provide an incredibly valuable service to businesses who need help with their finances.
As an online bookkeeper, your job will be to create and maintain financial records. This includes keeping track of expenses, sales, payroll, taxes and much more. You’ll also be responsible for creating accurate invoices, reports and other documents that businesses need in order to keep track of their finances.
Getting started as an online bookkeeper requires some basic accounting knowledge and the ability to use accounting software such as QuickBooks or Xero. It also helps if you have a good understanding of business processes like accounts payable/receivable and tax filing deadlines, since these are key components to any successful bookkeeping business. Along with this, it’s important that you understand how to use digital tools like spreadsheets in order to generate accurate reports quickly.
Once you’ve acquired the necessary skills for becoming an online bookkeeper, it’s time to get yourself set up as a freelancer. This involves setting up your own online platform—such as a website or social media profiles—where potential clients can learn more about your services. From here it’s just a matter of finding clients! Networking through industry contacts or even cold emails is one way of doing this; however there are many freelance websites that serve as marketplaces where people can list their services—including those related to bookkeeping—making them affordable and accessible for businesses seeking assistance.
When it comes time to actually start working on projects for clients there are certain factors you should always take into account such as setting clear boundaries between yourself and the client (i.e., what hours do you work? What tasks do they expect from you?) You should also consider negotiating payment terms beforehand so there aren’t any surprises down the line – either overpayment or underpayment! Finally always double check all invoices before submitting them so there aren’t any issues when getting paid by clients – this is key for long-term success in any freelance venture!
How much could I earn with a side hustle as an online bookkeeper?
Working as an online bookkeeper can be a great source of extra income, but just how much you could earn depends on many different factors. First off—the amount you charge will depend on the quality of your services and the type of clients you take on. If you’re just starting out, it may be tempting to undercut other bookkeepers in order to get clients quickly; however keep in mind that this could lead to lower pay overall as well as unhappy customers who won’t return for repeat business.
The size of the projects you take on will also affect how much you earn. Smaller and simpler tasks like data entry or invoice processing may not require a lot of time, but they won’t necessarily pay very well either because there is less value-added work involved. On the other hand, taking on more complex tasks such as budgeting and financial analysis could result in higher pay since there is more skill required to complete them.
Aside from the type of projects taken on, your location can also play a role in determining earnings. Online bookkeepers who are based in areas with a high cost-of-living (e.g., major cities) often have higher rates than those living elsewhere because they need to cover their own living expenses while working remotely. Additionally, if you have advanced certifications or years of experience in accounting and finance, these qualifications can increase your earning potential significantly—so long as prospective clients recognize and appreciate them!
Finally—time management is paramount when it comes to balancing side hustle bookkeeping with other responsibilities such as family and work commitments so be sure to set clear boundaries before taking any jobs and make sure that your hourly rate reflects this necessity! Be realistic about how much work you can handle at one time as taking on too many projects at once can end up costing you both money and stress later down the line.
How much money you make working as an online bookkeeper depends largely on what kinds of projects you take on, where you live and how efficient your time management processes are; however some general guidelines suggest that experienced professionals can easily bring home well over $50/hour – making online bookkeeping a viable side hustle for anyone looking for some extra cash!
How do I get started as an online bookkeeper as a side gig?
Getting started as an online bookkeeper is a great way to earn some extra income while still keeping your day job. All it takes is a few basic skills, the right tools and some creativity – and you’ll be on your way to becoming an independent freelancer!
The first step in getting started as an online bookkeeper is to brush up on your accounting knowledge. This means learning the basics of things like accounts payable/receivable and sales taxes, along with understanding how financial statements work. You don’t have to become a certified accountant for this kind of side hustle but it does help if you have at least basic knowledge of financial concepts.
Once you feel confident in your accounting knowledge, it’s time to get familiar with the software and digital tools that will be part of your daily work routine. QuickBooks or Xero are popular choices for bookkeepers, but there are other programs such as Gusto or Wave that can also be helpful depending on what type of projects you plan to take on. Knowing how to use spreadsheets is also necessary since these can come in handy when organizing data or creating client reports quickly and efficiently.
Now that you’ve got the know-how laid out, it’s time to find clients! Take advantage of networking opportunities like industry conferences or professional association events as these can lead to potential contacts who may need your services. Don’t be afraid to reach out directly via email either – small businesses usually prefer individualized attention over hiring larger firms which could work out in your favor! Additionally, taking advantage of freelance websites like Upwork and Fiverr can put your services directly in front of thousands of potential clients without having to do any extra legwork yourself. Once you land some jobs, make sure that all expectations regarding payment terms, deadlines and deliverables are set beforehand in order to avoid surprises down the line.
Getting started as an online bookkeeper isn’t quite as difficult as it might seem at first glance; however by following these steps – brushing up on accounting principles, getting familiar with software tools and actively searching for clients– anyone looking for a stable side gig can achieve success!