Thursday, August 6, 2020
Home Business Ideas Becoming a Home-Based Accountant

Becoming a Home-Based Accountant

Have you been working in the business world for years now? Do you have exceptional skills and knowledge of financial management? Would you like to spend less time worrying about money and more time enjoying life? If you answered yes to these questions, then you are an ideal candidate to start a home-based business as an accountant.

Many entrepreneurs don’t have the necessary skills to control the financial management of their businesses. Working as a home-based accountant, therefore, is an excellent source of additional income. You can enjoy all the benefits of being self-employed while working from the comfort of your own home. Finding clients will be fast and simple because so many small business owners don’t have the time, knowledge and energy to care for their accounting needs properly.

Some of the accounting software you may already be familiar with includes QuickBooks and Microsoft Accounting. These user-friendly computer programs are ideal for managing finances. The services you might offer to clients include payroll, invoicing, accounts receivable and payable, as well as tax reporting. These are some of the most critical functions in small business, and you can make a considerable amount of additional income by providing these services to other business owners. It will take some time and relationship building, but this is a great home-based job that will provide exactly the type of revenue and challenge that you are looking for.

Skills Required: intermediate knowledge of accounting practices, organization and time management skills.

The fundamental part of becoming self-employed as accountant is a strong working knowledge of general business or accounting classes. This is not a home-based job for beginners; it is more appropriate for individuals who already have 3-5 years of working experience in financial management.

You will also want to look into becoming a certified public accountant (CPA), which will give you further credibility amongst your clients.

Startup Expenses: $100-500

The startup costs for this simple job are very minimal. Assuming you already have the ability to set up an office area in your home, the only things you need to worry about are advertising and getting the right software set up on your computer. The additional income you will quickly earn while working as a home-based accountant will quickly make up for the investment.

Monthly Revenues: $2,000-3,000 per month

Because small business owners will need to rely heavily upon you as their accountant, it’s possible to charge a handsome fee for your services. You may put an hourly rate in place, or charge the customer a flat fee per week, month, or quarter. This home-based job is one that provides the most additional income.

Monthly Expenses: $50

This home-based job is easy to maintain. There is very little overhead beyond the cost of office supplies. You can also pass these costs on to your customers.

Time to Break Even: 3 months

Within three months, you should be able to build enough relationships with clients to recover that initial investment for start up. Because you will be self-employed, you will have a great deal of control over the profits and losses from there.

Working as a home-based accountant is a highly effective way to generate additional income for yourself. It’s challenging and rewarding, and if you have the financial know-how, then you’re well on your way to being self-employed as an accountant.

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