|How to Get Online Bookkeeping Jobs and Make Money Today
It is possible to make money from home with your bookkeeping skills without a degree or experience. Do you believe that? I will show you how to make money through online bookkeeping jobs.
The demand for remote bookkeepers is high, especially in the United States and Canada, and this is a great opportunity to make at least $40,000 while working from home.
Please don't confuse a bookkeeper with an accountant, as they both play different roles in a business. Accounting starts where bookkeeping stops. A bookkeeper records transactions, organizes receipts, reconciles bank statements, ensures accounting compliance, and prepares financial reports for audit.
Nowadays, you can learn whatever you want online for absolutely free on platforms like YouTube. Although you also decide to buy bookkeeping courses online, if you are not satisfied with the videos that you watched online.
The beauty of becoming a bookkeeper is that you don't even need a degree to start. All you need are the basics of accounting: the double-entry principles, ledgers, cash books, and balancing accounts.
Let's go into details on everything you need to know about online bookkeeping jobs by first understanding who a bookkeeper is, their roles, and the differences between a bookkeeper and an accountant.
Who is a bookkeeper?
A bookkeeper is responsible for maintaining a company's financial records, including recording transactions, reconciling accounts, and generating financial statements.
Therefore, a virtual bookkeeper is a bookkeeping professional who works from home using tools like laptop or desktop computer, and the internet. They can work for a particular company or individual, or they can decide to freelance (work for multiple clients).
Whether you want to work for a particular company or become a freelance bookkeeper, there will also be an opportunity for you to work and earn from home.
Can a Bookkeeper work from Home?
Yes, many bookkeepers work from home, especially with the availability of online accounting software and remote collaboration tools. With the advancement of technology, bookkeepers can perform their tasks remotely from the comfort of their homes using online tools and software to access and manage financial data.
Online bookkeepers often use tools like QuickBooks Online, Xero, Wave, or FreshBooks for accounting tasks. They may also use communication tools like Slack or Microsoft Teams for client interactions and document sharing platforms such as Google Drive or Dropbox for file management. Additionally, video conferencing tools like Zoom or Microsoft Teams can be useful for virtual meetings.
As a bookkeeper, how would you explain your job?
If you are looking for bookkeeping jobs online, you must be ready to face several hurdles, including job interviews with clients online. You should be able to describe your job, including your roles and what the company will achieve if they hire you.
Every company wants to hire the best. They are eagerly waiting to hear from you because it will give them confidence that they are hiring the right person.
A bookkeeper would likely explain their job by mentioning that they manage and record financial transactions, maintain accurate ledgers, reconcile accounts, and generate financial reports.
These are just a few tips about how to explain your job. You can then expand on the points above to have something meaningful to tell your potential client. Sell yourself to them and tell them what you can do. Use your strengths to your advantage and covert your weaknesses with strength.
Differences between a bookkeeper and an accountant
In order not to confuse a bookkeeper with an accountant, here is a comprehensive explanation of the differences between a bookkeeper and an accountant.
First of all, you need a degree in accounting or a related discipline before you can become an accountant. In addition to the degree, you are also expected to get some accounting certifications to be able to fully practice.
On the other hand, you don't need a degree to become a bookkeeper. You only need basic accounting and bookkeeping skills to start a career.
There are some business functions that bookkeepers can't do, such as endorsing financial statements. When the job gets to that stage, the bookkeeper will pass it on to an accountant.
You might have come across the term CPA—that's short for Certified Public Accountant. CPAs are accounting pros who've met specific licensing standards for their state. However, it's a different story for bookkeepers. They don't go through the same licensing process.
What does an online bookkeeper do?
Online bookkeepers do the following duties:
- Remote Data Entry: Input financial transactions into accounting software from home.
- Virtual Bank Reconciliation: Match and reconcile bank statements with recorded transactions using online tools.
- Online Invoicing: Generate and send invoices electronically, tracking payments remotely.
- Digital Expense Management: Monitor and categorize business expenses using online platforms for accuracy.
- Web-Based Financial Reporting: Generate and analyze financial reports through online accounting systems.
- Remote Payroll Processing: Handle payroll tasks virtually, ensuring accurate calculations and tax compliance.
- Cloud-Based Budgeting: Assist in creating and managing budgets using online budgeting tools.
- Virtual Communication: Engage in remote communication with clients to address queries and provide financial updates.
How much do online bookkeepers make?
To be realistic, there is no specific amount of money that a virtual bookkeeper can make. Your earnings depend on your negotiation power, the company you work for, and your scope of service (freelance or company).
Generally, if you're doing online bookkeeping, you could earn around $40,000 or even more in a year, usually working with 12–16 clients. And hey, you might be charging anywhere from $60 to $100 per hour for your expertise.
How to become a virtual bookkeeper without a degree and experience
You can qualify for the majority of bookkeeping jobs without having a degree or experience. Although you will earn more money if you have more years of experience, you just need to have some basic bookkeeping skills, and one way to acquire these skills is to take online bookkeeping courses.
Some bookkeeping skills that you need to excel at in your career include:
- Organization: Keeping financial records requires meticulous organization to ensure all transactions are accurately recorded and easily accessible.
- Attention to Detail: Bookkeepers must pay close attention to numbers and details to avoid errors in entries and maintain the accuracy of financial records.
- Mathematical Proficiency: Basic math skills are essential for performing calculations, reconciling accounts, and generating financial reports.
- Communication: Effective communication is vital for collaborating with team members, explaining financial data, and addressing any discrepancies.
- Software Proficiency: As a bookkeeper, you can't be effective if you don't know how to use accounting and bookkeeping software. Your job will be twice as fast, unlike when you use the manual method of bookkeeping.
Who hires online bookkeepers?
There are millions of businesses across the globe that are looking for virtual bookkeepers to help them handle their books. Business owners can save some money when they hire online bookkeepers because they save money on office space and buying work equipment.
Since you are going to work online, there is no limit to the number of clients you can get.
As long as your fee is affordable and you can do the job that you are hired to do, you will keep getting clients. As I said earlier, you can either work full-time for a company or you can work for several companies as a freelancer.
Where to Find Online Bookkeeping Jobs
As you are starting your bookkeeping career, there are several places to find jobs, including:
- Fiverr: If you're getting into freelance bookkeeping, think of Fiverr.com as your starting point. It's like putting up an ad for your bookkeeping services—just post what you've got to offer, and you're good to go.
- UpWork: UpWork is like a matchmaker for freelancers and clients. There are hundreds of freelance bookkeeping jobs available for you to apply for as soon as you are ready.
- Flexjobs: I checked out Flexjobs.com for bookkeeping gigs, and guess what? They've got a whopping 11 pages filled with all sorts of bookkeeping jobs. It's like a treasure trove for bookkeepers.
- Craigslist: Check out Craigslist for bookkeeping gigs and jobs. You might just stumble upon some local opportunities because, hey, even local businesses need their books in order.
- Indeed: Check out Indeed for virtual bookkeeper jobs—they not only list job opportunities but also provide details on salary ranges for your reference.
- ZipRecruiter: Explore ZipRecruiter for online bookkeeper opportunities—they've got a whopping 13,334 jobs waiting for you on their website.
- Belay Solutions: Consider checking out Belay Solutions for remote positions, including roles like bookkeepers. The job entails tasks such as handling client bills, reconciling bank statements, managing budgets, and more.
- Accounting Prose: Virtual bookkeepers should check Accounting Prose. The website has a lot of remote bookkeeping jobs available for bookkeepers.
- Intuit: Intuit is the company behind QuickBooks, and they are looking for QuickBooks Live Bookkeepers to assist small businesses with their finances. These roles usually come with a commitment of around 20 to 40 hours per week.
- Bookminders: Have you heard of bookminders? It is a platform that hires only bookkeepers who work from home. You could work with small businesses or non-profits—that's the kind of variety Bookminders offers in their bookkeeping roles.
- Backyard Bookkeeper: Consider Backyard Bookkeeper—they're hiring bookkeepers for flexible hours, ranging from 10 to 30 hours a week, depending on your preference.
- Remote.co: Take a look at Remote.co—they've got a collection of remote bookkeeping jobs, whether it's with individual companies or consulting firms.
Is taking an online bookkeeping course worth it?
Yes, taking an online booking course is worth all the time and money you will spend on it. I often recommend people to take these courses.
Online bookkeeping courses will teach you some basic bookkeeping skills and how you can set up your bookkeeping business from scratch.
Also, these courses are valuable because you can start and learn at your own pace, in the comfort of your living room, without stepping an inch out of your house.
This can really save you a ton of time; we're talking hours and hours, and you won't have to second-guess how to run a bookkeeping business.
Pros and Cons of Online Bookkeeping Jobs
- Flexible work schedule: Time is important. A remote bookkeeper enjoys the flexibility of working from home and setting their own hours.
- You will save costs: This is what people enjoy the most about working remotely. It will help you save on commuting costs, work attire, and potentially other overhead expenses.
- Wider client base: There is no limit to the number of clients you can have. You will have access to clients from different locations, expanding your potential market.
- Tech integration: You have the option to leverage online accounting tools and software for efficient and streamlined work.
- Autonomy: You will experience a higher level of independence and control over your work environment.
- You may start feeling isolated: Working remotely may lead to feelings of isolation due to a lack of in-person interaction.
- Client dependence: Relying on virtual communication may create challenges in building strong client relationships.
- Technical challenges for non-tech-savvy bookkeepers: Dealing with potential technical issues or internet connectivity problems.
- You will often motivate yourself: Requires self-discipline to stay focused and motivated without direct supervision.
- Security concerns about your data: Handling sensitive financial data may raise security and confidentiality concerns in a virtual environment.
How to Become a Virtual Bookkeeper
Although there is no generally acceptable method of becoming a bookkeeper, there are some steps you must take to give yourself an edge in your journey to becoming a virtual bookkeeper. They include the following:
- Get an education in accounting.
- Take virtual bookkeeping courses.
- Develop proficiency in accounting software.
- Gain practical experience.
- Understand and comply with legal regulations.
- Build a professional network online.
- Create a professional online presence.
- Develop a marketing strategy.
- Establish clear client contracts.
- Stay updated on industry trends.
How to find online bookkeeping jobs
Finding a virtual bookkeeper job is not as easy as people might think. It might be difficult at first, but as you get clients and do their jobs well, you will gain credibility and referrals from those who are satisfied.
Start by using specialized job boards, such as FlexJobs, Virtual Vocations, Bookkeeper.com, etc. You can network with other bookkeepers by joining online forums, attending industry events, or volunteering with professional organizations.
Furthermore, reach out to companies directly by sending a resume and cover letter to the company's accounting or finance department.
Use freelance marketplaces such as Upwork, Fiverr, and Guru. And lastly, start your own bookkeeping business if you're entrepreneurial and want control over your work and income.
Conclusion: Get online bookkeeping jobs
Your journey to getting online bookkeeping jobs starts with a step, whether you are just starting out for the first time or you have worked with hundreds of clients online.
If you are just starting out, the road will not be an easy one, but with determining and taking online bookkeeping courses, you will expand your knowledge and get clients.