And while there are currently no laws or regulations in the United States that stipulate you must be licensed, you still must adhere to this truth: To help him finish the job to the best of his ability, in the least amount of time possible, to deliver a high-quality finished product.īefore you dive into your discovery of the EXACT tools, technology and professional certification you need to start a bookkeeping business, there is a critical mindset you must adopt.īookkeeping is an honorable, time-tested PROFESSION. It’s been used by more than 14,000 other women and men to start a bookkeeping business.Įvery craftsman (or craftswoman :)) needs his handy-dandy toolkit. It’s a business plan in step-by-step, week-by-week format. My suggestion is to take a look at Bookkeeper Launch. However, most people create a business plan and put it on a shelf, never to look at it again. If you can actually use your business plan as a roadmap to get started, then create one. There are both pros and cons to business plans. What about a business plan? Should you have a business plan? That’s entirely up to you. Most businesses cost tens if not hundreds of thousands of dollars to launch.īut not your bookkeeping business! Get going for less than $1,500 smackers…in the world’s #1 most profitable business. And, some of the items I list above you can hold off on purchasing right away. If you’re a thrifty person, I know you can reduce that amount. Okay, if I did my math right (please, say I did else I might need to find a new line of work) – that means your estimated startup costs are about $1,404. To understand what might work for you check out this helpful post about best business structure from. But, like errors and omissions insurance I stress the importance of you having it.īTW…when you setup a business entity, there are several flavors. You could begin your business without setting up as a corporation or limited liability company (LLC). But, I am going to to benchmark it to be $300. This can vary SIGNIFICANTLY from state-to-state and county-to-county. setting up your bookkeeping organization, getting your business license and paying some other well-used taxes (uh-hummmm).Don’t commingle funds from your personal credit card. Credit card that is dedicated to your bookkeeping business.You’re a business owner…time for a business bank account. Bank account that is dedicated to your bookkeeping business.It doesn’t have to be big it just needs to be quiet so that you can work and chat with clients. fancy pants computer safety software (like disk encryption, password management)…this runs about $185. Don’t start a bookkeeping business without it! But, just in case, you MUST have this insurance. Just like any other insurance, you hope you never have to use it. What exactly is errors and omissions insurance? Well, in case something goes awry, you commit an error or you omit ~ forget to do ~ something, this is your saving grace.
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