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Side Hustle: 4 Ways to Start Freelance Accounting

The freelance economy has been going for years. Self-employed people constitute a considerable amount of the modern-day workforce. Some of the biggest reasons for this are the ease of online collaboration via high-speed Internet and a range of software that makes contracting independently easier than before.

What Does This Mean for Freelance Accountants?

Back in the day, accountants were required to have a lot of infrastructure to carry out their duties. Some of these duties included space for filing documents, high-end software, servers for hosting said software and rooms to carry out business. Aside from these requirements, it also took a lot of resources to complete the accompanying clerical work. Handling data was one thing, but then there was also an issue of tax that needed to be handled. With modern-day accounting software, this is easier than ever.

Tools to Get the Job Done

Bookkeepers and accountants no longer have to put a lot of money into creating infrastructure for their duties. All the smaller accountant needs now a laptop and some insurance. Any subscriptions for software are usually low-cost and can even be charged at your clients’ expense. Data can also be stored online, so backups are not needed, and physical documentation is obsolete.

Becoming a Freelance Accountant or Bookkeeper

Now the way of doing things in accounting has changed, you can easily carry out tasks with a minimal workforce – usually just yourself. The most important thing is to get online and find some clients, as there is a huge demand for accountants. Below, we’ve broken down some of the ways in which you can get going.

#1: Take to the Internet

Of course, becoming a freelance accountant will require a stable Internet connection and a well functioning laptop. It’s also recommended to get a conferencing application that you find easy to use. Consider accepting payments online with payment providers such as stripe, which can be very useful if you move towards a subscription-based system.

#2: Connect to the Cloud

Having access to your clients’ data and being able to be logged into their account simultaneously can make communication and work through their finances much easier. If they have any issues, you’ll be able to see what they’re working with quickly and easily without having to meet them in person consistently. A lot of cloud accounting software will also handle a lot of data entry automatically and streamline payroll.

#3: Build an Online Presence

By building your presence online, you’ll be able to reach a much broader range of potential clients. The advent of the Internet means we can be connected to anyone, anywhere at any time. This means you do not have to limit yourself to clients within the area. To get in front of the people that may need your services, share posts on social media, have a professional website and use content marketing to build authority in order to attract traffic and potential business.

#4: Increase Revenue for Every Client

After you’ve managed to score a few clients on retainer, consider what other services you can sell to them to get a higher payout. In any case, getting more money from someone who is already a customer than someone you new is more straightforward. You can do this by offering similar services for other parts of their business, or helping to strategize on financial decisions.

The Key to Freelance Accounting

Finding online work can be thrilling, and now bookkeepers and accountants are seemingly joining the fray, given the wealth of technology at our disposal. Just get the right tools, put some work in and you should be able to make some great money for yourself without the constraints of a boss.

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