By Alyssa Gregory,
Small business bookkeepers can provide a range of services from managing accounts receivable, accounts payable, reconciliation, payroll, reporting, income tax preparation and more.
If you have those characteristics under your belt, here are some of the benefits of starting a bookkeeping business:
- Startup costs for a bookkeeping business are minimal.
- You can become a specialist in one accounting application for increased marketability.
- It’s consistent work that typically takes place on a regular schedule.
- You can work virtually and broaden your target market.
- There isn’t formal certifications or training necessary (although, it’s never a bad a idea to become certified).
Some of the potential challenges you may face if you start a bookkeeping business include:
- There could be significant liability issues.
- You need to take measures to ensure all client data is kept secure.
- It could be expensive to purchase and update various accounting software.
- You need to comfortable with technology so you can access a client’s computer, if necessary.