Running your own bookkeeping firm provides more flexibility and control than working for someone else. You must also set up an office, find clients, manage your time, and deal with a plethora of other minor tasks. If you’re ready to make the transition from an in-house bookkeeping position to starting your own practice, here are some things to consider. Here you will learn how to start a bookkeeping business and if you want to know more about QuickBooks features like how to enhance inventory reports and how to check your business health in QuickBooks online then click on these links.
Get Certified
Even if you have a lot of experience, you should think about getting certified. Certifications demonstrate to your clients that you have extensive training and can be trusted with their books. Consider applying for certification with one of the organizations listed below:
Certified Professional Bookkeepers of Canada
To become a CPB member, you must pass the certification exam with an 80% or higher. A letter of recommendation from a previous employer, client, or accountant is also required, as is at least four years of bookkeeping experience. As a result, this certification is ideal for people who have prior experience. If you’re still learning the ropes, you can start at one of the non-certified tiers and work your way up.
The Canadian Institute of Bookkeeping
You must complete at least nine college-level classes to earn CPB certification, but if you already have at least five years of experience, you may be able to waive some of these requirements. Your certification level is determined by your level of experience. Student Members are enrolled in classes and gaining experience. Associate Members have at least five years of experience but are still completing their education. Certified bookkeepers have completed all course requirements and have at least three years of experience.
Software Specific Certifications
In addition to traditional certification options, you may want to look into accounting software-specific certifications. For example, the QuickBooks ProAdvisor Program provides online courses and training, as well as free certification exams.
Choose Your Work Space
When starting your own practice, you need a productive and comfortable work environment. You may eventually want to rent a standalone office, but for the time being, a home office can suffice. Alternatively, combine a home office and a shared office space for a hybrid approach. You can use conference rooms, copy machines, and possibly even a receptionist if you work in a shared space.
Find Out If You Need to Register Your Business
If you operate your business under your own name as a sole proprietor, you usually do not need to register. However, if you want to give your company a fun name, you may be required to register a business name. The rules differ by province, so check the requirements in your area.
Create a Website
In many cases, your web presence can make or break your business, so you should consider developing a website. Your website serves as a digital brochure, allowing you to easily show prospective clients your offerings and prices. You can also use your website to list your certifications and share testimonials from previous employers or clients.
Network to Find Clients
You can optimize your website to increase traffic with the right approach, but networking is probably a better way to find clients. Check with your personal and professional contacts to see if they know anyone who requires the services of a bookkeeper. Because many businesses hire through referrals, word-of-mouth advertising can be an excellent first step.
Then you could try cold calling. Simply pick up the phone and call local businesses. Consider concentrating your efforts on small businesses that are unlikely to have an in-house team. Inform them about your services and direct them to your website for more information.
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