How To Start A Bookkeeping Business Online

Do you want to learn? How to Start a Bookkeeping Business?

Bookkeepers are responsible for maintaining accurate financial records, from tracking expenses, reconciling bank statements, and managing invoices to preparing financial reports, processing payroll, and more.

This is a very flexible side hustle and a great opportunity for someone who enjoys working with numbers and has a keen eye for detail.

Today I want to share with you an amazing interview with Christine Meader, who runs a successful virtual bookkeeping business. In less than two years, she has grown her bookkeeping side hustle into a full-time business that consistently brings in over $16,000 per month.

In this interview, we ask Christine questions about how to start a bookkeeping business.

Bookkeepers are in demand because business owners understand the need for accurate financial records, and as Christine explains in our interview, having finances in order is critical to the success of a business.

If you’re interested in starting a flexible, in-demand side hustle, we ask Christine some questions you might be wondering:

• What is a Bookkeeper?
• What is the difference between a bookkeeper and an accountant?
• How much does a bookkeeper earn?
• Are bookkeepers in demand?
• How can a new bookkeeper find clients?
• How long does it take to become a bookkeeper?
• Do I need a degree to become a bookkeeper?

And more!

Today’s interview will help you get started on your path to becoming a paid bookkeeper online.

If you want to learn how to set up a bookkeeping business on the side, while traveling, or with kids at home, this interview is a great place to start.

I invite you to sign up for my free training, “How to Start a Profitable Bookkeeping Side Hustle That Can Make You $2,000-16,000 a Month Part Time.”

Recommended reading: How to Find Bookkeeping Jobs Online

How to Start a Bookkeeping Business Online

Below are answers to your questions about how to start a virtual bookkeeping business.

1. Hello! Please tell us a little about yourself and your background. What made you start your own bookkeeping business?

My name is Christine Meader and I’m an accountant by trade (CPA since 2015) but these days I run a remote cloud accounting firm called Gradient Accounting. We specialize in bookkeeping, tax and profit consulting services for the modern small business.

My story is pretty wild. After graduating from the University of Tennessee, I moved to Boston, Massachusetts and took what I thought was my dream job. I landed an entry level position at a “Big 4” accounting firm and hoped to climb the ranks quickly. At least, that’s what I thought…

After three years of working grueling 50-80 hour weeks, I decided I needed a change.

I’ve always loved traveling, but as a child I never traveled abroad due to my middle-class upbringing, so my first real trip was during my college years.

I had the opportunity to study abroad in London, England for a semester, traveling around Europe on weekends on cheap planes and trains. It was the most magical experience of my life, and from that moment on I was hooked on travel.

So, when we were still living in Boston, I asked my then-boyfriend (now husband) if he’d be interested in taking a “gap year” trip. Luckily for me, he was just as crazy as me and said yes.

To make this happen, we saved up about $30,000 and spent the next year traveling, visiting about 20 countries, mostly in Eastern Europe and Latin America.

Through that experience, I started learning about the world of remote work. I started doing freelance work on Upwork and, as a digital nomad, I realized that the finance industry was underrepresented.

I felt weird and unusual because most digital nomads are marketers, but as I started getting these jobs, my confidence grew and I started earning more than my fellow digital nomads.

That led me to start a company called Gradient Accounting, which is now in six-figure revenue and has three employees.

Currently, I’m based in Knoxville, Tennessee, but travel internationally for three months each year. I work fully remotely and have reduced my work week to around 25-30 minutes.

I am living my dream life and making a lot of money doing it, and I feel so blessed with all the opportunities I have had.

2. What is a bookkeeper?

A bookkeeper’s primary job is to ensure that a company’s financial statements are accurate and clear. This has two main objectives:

1) Enabling business owners or tax accountants to prepare accurate tax returns (compliance)

2) Helping business owners understand the health of their business from a financial perspective and make decisions accordingly (Growth)

Many bookkeepers see their role as compliance only, but it’s actually much more than that. You’ll be a trusted advisor to the small businesses you serve.

Other duties include:

• Send invoices on behalf of your customers
• Record digital, cash, or check payments on invoices
• Pay invoices on behalf of your customers
• Run payroll for your clients and their teams
• Check the accuracy of numbers, posts, and reports
• Helping customers apply for business loans and lines of credit
• Preparing state sales tax returns
• Prepare year-end 1099s for client contractors and other vendors
• Maintaining state and local business licenses
• We help our clients with business decisions, including budgeting future expenses, forecasting future sales, and advising on ways to reduce costs.

As you can see, bookkeeping is not boring and is a very valuable skill.

3. What is the difference between a bookkeeper and an accountant?

It’s like the difference between a nurse and a doctor. Bookkeepers are like nurses, performing the essential duties to keep everything running smoothly. Accountants are often specialists who perform advanced tasks like tax returns, financial forecasting, and audits. However, there is a lot of overlap between the two.

Accountants typically hold a four-year degree and sometimes certification in accounting (CPA, CMA, EA, there are lots of acronyms), but you don’t have to have one of these certifications to call yourself an accountant.

So a bookkeeper can be an accountant, and an accountant can be a bookkeeper. It’s the job they actually do that matters, not the title.

4. How much do bookkeepers make?

The Brilliant Bookkeeper program that I created with the Millennial Money Man team will train you to earn $2,000-$16,000 per month as a remote bookkeeper, meaning you can earn a comfortable living wage or a steady side income working from home or while traveling.

We can coach you to charge $500-$1,000 per month per small business client, and a skilled bookkeeper can successfully handle 15-30 clients in a 40-hour work week.

You could also use your bookkeeping skills to start your own “company” or “practice”, hire a team and continue to scale your business to over six figures.

5. Is there a demand for bookkeepers?

Yes, over 4 million small businesses are started each year in the U.S. Every small business will need the assistance of a bookkeeper at some point in its lifecycle.

Plus, the bookkeeping workforce is aging. According to the Bureau of Labor Statistics, there are roughly 200,000 job openings for bookkeepers each year in the U.S. And these are traditional full- or part-time positions. This number doesn’t include all the non-traditional freelance roles.

6. How can a new bookkeeper find clients?

New bookkeepers can find clients in a variety of ways, and our Brilliant Bookkeeper program trains students on the most common ways to find clients.

We find that the most successful students use a combination of methods, including in-person networking, freelancer marketplace platforms, and leveraging their own networks. You’ll be surprised at how many business owners you already know — and they might all need your bookkeeping services at some point.

My first clients were my friend’s parents, both of whom ran successful businesses and were looking for reliable support. They already knew and trusted me, so the “sales” process was very easy.

7. How long does it take to become a bookkeeper?

My most dedicated students complete the entire course in 30 days and land their first client at the end of those 30 days, and I truly believe you can learn the basics that quickly.

But like any profession, some “on the job” training is required, which is why it’s important to have a support network of other professionals you can ask questions to and learn from.

8. What skills do you need to be a bookkeeper?

There is no qualification to become a bookkeeper.

Some may have a degree or formal training, but that’s not necessary at all — what matters most is that you can demonstrate an ability to manage the books for a business owner.

Soft skills that are indicators of success as a bookkeeper include organization, navigating technology, and attention to detail. Bookkeeping is also a good fit for introverts, and many students love it. Many bookkeeping jobs are asynchronous, meaning you won’t be attending meetings all day.

9. Do I need a degree to become a bookkeeper?

You don’t need a degree to become a bookkeeper.

A high school diploma or General Education Diploma (GED) is recommended to provide the necessary communication and literacy skills, but no other college experience is required.

10. Can I work from home as a bookkeeper? Is this a good freelance career?

Yes, that’s one of the best things about bookkeeping: the current technological environment means that the majority of a bookkeeper’s work can be carried out over the internet using bookkeeping software.

In fact, Gradient Accounting is a fully remote company and we do everything online. We do this by utilizing cloud-based software, including accounting software, payroll software, and more.

Bookkeeping is a great freelance job because most clients pay you monthly, so you don’t have to remind them or track your hours, and you can predict exactly how much you’ll make each month.

11. What are the specific steps you need to take to make money with bookkeeping?

To make money with bookkeeping, you need to:

1. Assess your current situation. What skills do you already have? What do you need to learn?
2. Create a learning plan – What resources will you use to master the skills?
3. Set goals – How many clients do you want? What are your rates? What is your timeline?
4. Create a customer acquisition strategy – How will you acquire your first customers?

Once you have a plan, you can get started right away. That’s why I love the Brilliant Bookkeeper program. It supports students through creating a plan and learning the basics.

12. Tell us about the bookkeeping course you teach and why should people take it?

Our courses teach you the specific steps to get from “I don’t know what to do” to “I’ve got my first client.”

Our course teaches students how to use the most popular accounting software: Quickbooks Online and Xero. As far as I know, we are the only bookkeeping program that teaches not one but two accounting software. During the course, students will learn how to keep books for their business, what “keeping books” actually means, how to start a freelance business, how to find clients, and much more.

We also feel that the pricing of our courses is very fair. Most other courses of a similar nature charge between $1,000 and $3,000. We strive to keep our prices as affordable as possible.

Plus, we’re more than just a course. Each student gets live coaching and access to a community of other bookkeeping professionals. This part is so important to being a successful bookkeeper. We don’t just teach you and send you out into the world to be eaten by sharks. You’re supported every step of the way.

Other differentiators of Brilliant Bookkeeper include:

1. We cut out all the unnecessary bits and teach you only what you need to know to get the job done. Sure, you could study 400-level accounting concepts in college, but do you really need that if you’re not going to actually do anything with it? Probably not.
2. Brilliant Bookkeeper is streamlined and practical. It’s designed to get you working with clients as quickly as possible. Bookkeeping certainly takes time to master, but it doesn’t have to take months. Our curriculum will teach you 98% of what you need to know in a few weeks (or even days).
3. This is the only course that teaches you how to be an advisor to your clients, not just a bookkeeper. We want you to be the linchpin that can charge premium rates and retain customers forever. We want you to develop skills that go beyond sorting transactions. We will teach you a simple system for “reading the tea leaves” from a company’s financial statements so that you can truly become indispensable to your clients. This will help you charge premium rates and get the compensation you deserve.

Are you interested in learning how to start a bookkeeping business online? Do you have any other questions about becoming a bookkeeper?

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