Bookkeeping is the name given to the process of recording transactions of a financial nature. Those that are involved throughout the process can either be called bookkeepers or even accountants. Unlike in the olden days, these days there are many people who are qualified bookkeepers thus making the market competition of such a profession very stiff? For this reason and others like for instance flexibility, more and more bookkeepers opt to become freelance bookkeepers. Read reviews for more details.
It may sound like an attractive deal (i.e. being your own boss) but, just like any other freelancing job, freelance bookkeeping has its challenges and few people know this. Below is a number of challenges that you should get accustomed to before venturing into the freelance bookkeeping career.
Finding clients. This point is applicable to any career you would like to outsource. It becomes even harder if you are a bookkeeper because few people will trust a stranger to handle their financial books. Even close family and friends would find it hard to hire you because this is a delicate matter that when handled in the wrong way, might bring down your business.
If you have new clients, you will have to deal with the mess they made while trying to do the bookkeeping themselves. It is not easy as there might be some documents missing and so on.
Having to know how to operate the different versions of accounting systems can be quite challenging.
You will find that you put in a lot of excess working hours without being compensated.
Traveling back and forth when delivering files to clients tend to strain your pocket a bit especially in the first month. If you need more updates and latest information, visit their official website.
Struggling to build your business can also prove to be tough considering the excess work you are doing in an effort to build a good reputation.
Furthermore, being constantly updated with the different regulations.
It is not easy but if it all works out to your favor, then the fruits will be worth all the struggles. Another tough part about being a freelance bookkeeper comes when it is time to speak figures. (i.e. payments) Chances are that they client knows you are new in the business and most of them would like to take advantage of your naivety when it comes to this business and gives less than what you deserve. Make sure that your price is fair and affordable and ensure that you have agreed upon the payment before starting the job and all should be put down on paper.
Key points to your success as a freelance bookkeeper Melbourne. Have fair rates. Ensure that you have done your research and come up with rates that are currently used by others like you but quote a bit higher so that, if you are to go down on your price, then you will not suffer.
Appearance: Although it is a freelance job, it does not mean that you dress up in whichever attire you wish. Appearance says a lot about you and your professionalism. So, always be smartly dressed and have confidence in yourself. Read latest news at http://www.reuters.com/article/us-samsung-biologic-accounts-idUSKBN1710I6
Clients: Do not rely on family to be your success stories, go out, and look for new clients. One of the best places to search is in new businesses. You can also use CPAs as referrals and be ready to work with really complex and demanding clients.
The Fee: Unless you have been working with the same client for a long duration, do not have a flat-rate fee. There might be times that you will need extra hours and if you are on a flat-rate fee, then will not get compensation for the extra hours.