You’ve probably noticed that many huge companies are switching to completely remote work for the foreseeable future. Online businesses are the wave of the future, and you’re likely wondering how you can create your own online career.
Virtual bookkeeping is one of the best ways to begin an online business. Bookkeeping is easy to learn and in high demand, and gives you a skill set that will transfer over to many different career paths as well. You can become a business owner with just a little bit of training and clever thinking.
If you’re new to bookkeeping, or new to virtual businesses, worry not. This guide will show you the top 5 ways to make money through virtual bookkeeping. If you can count and read, you can succeed!
What is Virtual Bookkeeping?
Virtual bookkeeping is exactly what it sounds like: tracking and managing a business’s budget completely online. Bookkeeping is the work of tracking all purchases and expenses made by a company and finding ways to increase profit.
Virtual bookkeepers are in charge of keeping the numbers straight and knowing how to best analyze them. This can seem daunting, but just takes a bit of clever thinking. Learning to keep books is an invaluable skill.
If you’re already an experienced bookkeeper, you may not be sure how it translates online. There are tons of new virtual bookkeeping programs that are intuitive and easy to learn. You’ll be able to make an easy switch into
Anyone Can Become a Virtual Bookkeeper
Bookkeeping is a noble and accessible profession: you don’t need a degree, or any fancy certifications. Becoming a great bookkeeper takes some work, but learning how to do the job is simple.
At its core, bookkeeping is just financial record-keeping. In its simplest form, bookkeeping is just data entry: write down the purchases, calculate, determine whether or not they made a profit.
The hard part to learn is interpreting the numbers. Identifying unnecessary costs and expenses is a learned skill, but can put you in high demand. The best bookkeepers also act as financial consultants, in a way.
This is why small businesses work so closely with their bookkeepers. As a bookkeeper, you’ll take on much of the financial aspect of that business.
But there are many ways to make money as a virtual bookkeeper besides being employed by one single business.
How to Monetize Bookkeeping Online
Once you’re familiar with your chosen bookkeeping software and feel you’re ready for financial independence, look into new ways to apply your skills.
Virtual bookkeepers are in high demand. You’ll want to start your business in a way that keeps you ahead of the curve. This means doing more than just tracking numbers for a small business owner.
Here are five ways to monetize your virtual bookkeeping skills.
1. Cater to Niche Businesses
Do you know a lot about a niche industry? Are you a crochet aficionado, or a vintage urn expert? Turn that into a marketable skill.
Since virtual bookkeepers are most often utilized by small businesses, you can make a great name for yourself inside niche industries.
Offer industry-specific advice and demonstrate specialized knowledge to build a loyal client base. If you impress one business owner, they’ll likely refer you to other people within that industry.
2. Offer Freelance Services
Some businesses will only occasionally need their books balanced. If you like the freedom of short-term contracts and easily defined deadlines, freelance bookkeeping may be for you.
There are lots of freelance sites you can sign up for, many for free. Through these sites you can advertise your services and apply for short-term jobs with clients.
Freelancing isn’t for everyone, but if you’re self-motivated and like having total control over your time, it’s perfect. Freelancing allows you to only take on projects you want, and work you’re willing to do.
3. Start a Bookkeeping Team
If you know a few business owners and a few virtual bookkeepers, you can start a company matching bookkeepers to businesses. Similar to a temp firm, these teams will hire freelance bookkeepers and match their skill set to businesses that apply.
If you’re good at managing people and communicating remotely, this could be a very lucrative business for you. By making the search for a bookkeeper a little easier, you’re meeting a need that’s often overlooked.
4. Do Your Own Bookkeeping
This is more a way to save money than to make money, but it still counts. If you have a small business or side hustle of your own, do your own bookkeeping! This is great if you’re a beginner bookkeeper; you can hone your skill in a low-pressure environment.
Doing your own bookkeeping will not only help you save money, it’ll give you a better head for numbers. This is where you can practice that clever thinking and learn how to better analyze a budget.
5. Develop New Bookkeeping Software
If you’ve been looking through bookkeeping software services and haven’t found one you love, make your own! With a basic knowledge of coding and software development, you can make the best bookkeeping software possible.
Software-as-a-service is one of the most lucrative business sectors out there. Services developed by people with industry experience – such as bookkeeping software developed by a bookkeeper – is often the most successful.
You’re Ready to Start Your Own Online Bookkeeping Business
We hope that this guide has given you plenty of inspiration for turning your virtual bookkeeping skills into a career. With a little hard work and clever thinking, you’ll succeed in no time. Achieve financial independence and elevate your lifestyle through a bookkeeping career.
For more advice on starting your own business, visit Vetted Opps. We provide business reviews, startup guides, and more. To get a taste of what we offer, read through our various business guides now!