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When a Bookkeeper Isn’t Just a Bookkeeper

start your own bookkeeping business registered BAS agent business

Why NOW is the time to become a work-for-yourself bookkeeper

start your own bookkeeping business registered BAS agent business
Bookkeeping is a career that keeps on growing as you grow you and your client’s business.

THERE ARE UMPTEEN REASONS why starting a bookkeeping business is a great low-cost venture for people looking to take a step back from the corporate world, or even for those looking to do quite the opposite by working from home so they have the flexibility they need as parents to young children.

If you’re a subscriber of this blog, then you’ve read posts about National Bookkeeping, the company EzyLearn has partnered with to deliver training courses to people who become National Bookkeeping licensees.

However, I’m going to talk about it again because there are still too many talented people out there who don’t think they have what it takes to go into business for themselves. And I’m here to tell you, you do, and we’ll help you!

Register as a National Bookkeeping licensee before 30 June

As it’s nearing June 30 and the end of this current financial year, it’s a great time to kick-start your own business, by registering to become a National Bookkeeping licensee. Their license fee is a hundred percent tax deductible due to the large component of training courses included in the fee, so if you register before the end of June, it can go towards reducing your taxable income straight away.

The reason I became interested in National Bookkeeping is because I felt it provided just enough structure for new business owners to get their business off the ground, but also the right amount of flexibility for those business owners with the desire to take their business (and incomes) to the next level by providing addition services, such as content marketing, virtual assistant services, or even financial planning.

I think that in order to be successful in business and for your business to have longevity, you need to be open to new opportunities and to be able to constantly update your business model and offerings. Particularly now that we’re in an age of great technological change, staying abreast of changes to the way people work and do business is the key to staying in business, period.

…Now that we’re in an age of great technological change, staying abreast of changes to the way people work and do business is the key to staying in business, period.

New technologies mean new opportunities

There are many business analysts and economists who see the reduction of permanent jobs as a bad thing – and to some extent, they’re probably correct – but I see it as an opportunity. New technologies have made it easier for people to work at home, wherever their home may be – a city, a beachside town, outback Australia – so long as they have access to a reliable Internet connection.

Now, people who have previously been excluded from the job market have an opportunity to earn an income. That’s great news for workers and for the economy, and it’s why the government has spearheaded a move to encourage working from home, or teleworking as it’s officially known, among businesses and their staff.

We continue to need bookkeepers

Bookkeeping is a necessity for all Australian businesses, as it’s a fundamental requirement of Australian tax law to keep accurate business records. Hiring a contract bookkeeper to take care of their business’s bookkeeping allows business owners to go out and find more work and grow their business, rather than having to worry about keeping up with all of their administration and book work.

With continued training your business grows as your client’s business does too

As their business grows, the bookkeeper will become busier too and they may even be asked to provide more services – BAS services, tax services, financial planning and advice, even one-to-one training — the list goes on. The more training you have, the better you’ll able to service this client yourself and the more business you’re business will grow as a result. (Want to read more about what’s required to become a registered BAS agent?)

It’s not uncommon for a bookkeeper to start out providing simple data entry and reconciliation services to business, and then wind up providing full financial advice and planning services, providing, of course, they’re qualified to do so. And these are qualifications you can acquire while already providing services to clients and earning an income.

When you become National Bookkeeping licensee, you’re free to continue your studies so you can eventually progress from a bookkeeper through to a financial planner and adviser, and with clients to help them grow their business, just as you did yours.

National Bookkeeping even provides you the blueprint for doing it by offering the EzyLearn Small Business Management Course, (our EzyStartUp Course) which has been augmented to help bookkeepers develop a business plan specifically for a bookkeeping business.

With National Bookkeeping you’re not just a bookkeeper

ato tax concessions for small business under $25mAs a National Bookkeeping licensee you’ve got the tools and the support to build a successful, sustainable small business that can provide an array of services, beyond those of the typical bookkeeper.

So if you’ve been thinking about starting your own business, register with National Bookkeeping before June 30 so you can claim it as a tax deduction right away; alternatively, to learn more, visit their website or continue reading our blog.


 

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What do bookkeepers do during the first consultation?

Interviewing a potential bookkeeper

become an independent contract and start a bookkeeping businessIF YOU’RE LOOKING TO start your own bookkeeping business, or looking to hire a bookkeeper to help you with your bookkeeping, you might be wondering, how does a bookkeeper assess a business’s bookkeeping needs?

As it’s a legal requirement for every business to file a tax return and, sometimes, a quarterly business activity statement (BAS), it’s necessary, then, to keep accurate records of the business’s income and expenditure.

The process of keeping this up-to-date and, if the person is also registered to do so, complete any activity statements, is the role of a bookkeeper.

A bookkeeper, unless they’re just providing a business with general data entry services – reconciling accounts, paying invoices, chasing late payers – should be registered with the Tax Practitioners Board (TPB) as either a tax agent, BAS agent or both. If they’re not, and they don’t hold a bookkeeping or accounting certification, either, then they’re only qualified to charge for the general data entry services.

But, assuming they are TPB registered and qualified to prepare and lodge tax returns and activity statements, then there are a number of things you can typically expect of a  bookkeeper during the first consultation with a prospective client.

Free consultation with bookkeeper: what to expect

1. Accounting data file health check

If a business already has an accounting package, a bookkeeper will perform what’s called a ‘health check’. This is a basic check to ensure the accounts have been set up properly in MYOB, Xero, Quickbooks or whatever accounting software the business happens to use – though it’s generally only these well-known packages that a bookkeeper will work with. If a business is using a lesser-known package, like Zoho books, for instance, they may not be able to work with it.

2. Recommend an accounting package

If a business doesn’t already have any accounting software – or maybe they do, but it’s not a package the bookkeeper is familiar with – they may recommend certain software for the business to use, typically MYOB, Xero or Quickbooks.

Generally, the bookkeeper will recommend that someone in the business is trained in whatever software they recommend, as there are some functions — invoicing for example, and even sometimes bank reconciliations — that the business will still need to take care of themselves to reduce their costs, unless the business wants to pay the bookkeeper to do this. Some bookkeepers provide this training so there’s a uniform approach to managing a business’s books.

3. Review of current systems/procedures

The bookkeeper may make recommendations to your general account keeping procedures or systems to improve or streamline them. This could involve, for instance, a recommendation to open a business bank account or using a certain credit card for payments; invoicing clients on a particular day of the week or as jobs are completed to improve cash flow, et cetera.

4. Draft a tentative action plan

In that plan, the bookkeeper will include a confidentiality agreement or letter of engagement which both parties need to sign; they’ll also make recommendations as to how the business should provide information, such as source documents which will differ based on the working arrangement. For instance, virtual bookkeepers may suggest uploading documents to Dropbox, while a local bookkeeper may go to the business’s premises or request the business to come to theirs.

The bookkeeper will also make suggestions as to how regularly their services would be required — once a week, month, and so on.

5. Answer any questions or queries

If the bookkeeper is registered tax agent, they should be able to tell you what sorts of expenses count as a tax deduction. Many people mistakenly believe that only an accountant can provide this sort of advice, but that isn’t true.

An accountant can only lodge and give tax advice if they’re a registered tax agent, and the same goes for a bookkeeper. Thus, should be well versed in Australian tax law.

Why a free initial bookkeeping consultation?

Typically this initial consultation is free and should take an hour or less and it also gives the bookkeeper an opportunity to see if you are the right fit for the client base they would like. Generally the initial consultation occurs in person, even if the bookkeeper will work from home or remotely once their services have been engaged.

In the case of virtual bookkeepers working in a different city or state to their clients, it’s now possible to carry out the initial consultation using Skype, Google Hangouts or any other video conferencing apps – or even just over the telephone.

If the bookkeeper finds that your circumstances are not ideal for their skills or time capacity they should have a network of other bookkeepers/accountants who they can refer to you.

Start a bookkeeping business today

Start a bookkeeping business not a franchiseIf you’d like to start a bookkeeping business, EzyLearn has recently partnered with National Bookkeeping, which is looking for licensees.

As a licensee with National Bookkeeping, you’ll have access to EzyLearn training courses (which also means the license fee is one hundred percent tax deductible. Visit the National Bookkeeping website today and register your interest online.


 

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Becoming a National Bookkeeping Bookkeeper

Starting a Business as a Bookkeeper is about Business Knowledge, Skills and Support

start a bookkeeping business
It can be daunting knowing where to get your first clients when you start your own business.

It’s not easy starting out as a bookkeeper running your own business. We think our partnership with National Bookkeeping is going to help you get underway.

If you’ve subscribed to our blog and followed our recent posts, then you probably know that EzyLearn has partnered with National Bookkeeping.

National Bookkeeping can now administer training courses to their new licensees, along with a range of other perks and benefits to help you launch your own bookkeeping business.

Becoming a National Bookkeeping Licensee

To begin with, as a National Bookkeeping licensee, you receive access to all of the EzyLearn training courses, including any new courses we develop in the future.

This means that in addition to our MYOB training courses and our small business management course and our WordPress training courses, you will also have access our new content marketing course along with any other course we develop in the future.

All the training you need under one roof

We made a commitment to give National Bookkeeping licensees access to our full suite of training courses because we’re big believers in continuing your professional development by constantly updating your skill set, whether it’s by learning how to use new software or getting training in new areas of study – like content marketing.

So straight off the bat, by becoming a National Bookkeeping licensee, you’re getting access to thousands of dollars worth of training courses as part of the license fee. The way we – and National Bookkeeping – see it is that the better skilled you are, the more chance your business will have at succeeding, which is a goal for both EzyLearn and National Bookkeeping as much as it is for you.

What do you get as a National Bookkeeping Licensee?

You also get the infrastructure you need to get your bookkeeping business off the ground included in the license fee. This includes:

VoIP business phone number: You can give out a landline telephone number (rather than just a mobile number) and configure it so you can use special in-dial marketing numbers to see where your calls are coming from, which is very useful to tracking your marketing activities. You can learn more about VoIP at the Virion website, who are also working with National Bookkeeping.

Business templates: Whenever you commence work with a new client, you should always have some kind of agreement in place to protect both yourself and your client. For an independent contractor – which is how National Bookkeeping licensees will operate their businesses – the most common kind of agreement you’ll use is the professional services agreement. But we’ll also give you access to other kinds of business document, such as intellectual property agreements, that can be easily modified, should you need them.

Bookkeeping business plan: In addition to the small business management course, which takes you through the process of creating your own business plan, National Bookkeeping will also provide you with an easy-to-modify business plan, developed especially for home-based bookkeepers, which you can tweak to suit your business needs.

Sales training and business coach: Even if you’ve worked in sales in a previous occupation, every new business owner can use sales training and that’s largely because as a business owner the sales process is different to when you’re working as a sales person for a large company. When you’re just starting out, the goal is to get clients – so is working for free or cutting your rates is a good way to establish yourself? The National Bookkeeping sales trainer will take you through the many common scenarios new business owners face in relation to getting clients, as well as ways to build your business through word-of-mouth referrals. You’ll also have access to your own business coach to help you keep on track to grow your client base and build a successful business.

Marketing materials: National Bookkeeping will also supply you with your own business cards, brochures, and marketing and sales collateral that you can distribute throughout your business networks and to potential customers.

What you need to do now?

Aside from registering your interest with National Bookkeeping there are a few things you will need to do in order to become a home-based bookkeeper.

Get a Cert IV in Accounting or Bookkeeping: Although you don’t have to get a Certificate IV in Accounting or Bookkeeping, we highly recommend it. Without a Cert IV, you cannot provide BAS or GST services, which are a major component of the tax process. By being able to provide these services, you make yourself infinitely more valuable to your clients, as well as accountants with whom you’ll be encouraged to network and make contact with. You can get a Cert IV in Accounting or Bookkeeping from most RTOs or TAFE.

Obtain an ABN: Every business must have an Australian Business Number, which must be quoted on your invoices. If you don’t have an ABN your clients are legally required to withhold 49 percent of your payment and send it directly to the ATO, who’ll hold it until you file a tax return for which you’ll be required to get an ABN. Thus, it’s better to get one before you commence trading.

Get in the zone: The decision to start and operate a new business is not one that should be taken lightly, so it’s a good idea to get mentally prepared beforehand. Read up on what it’s like to be a home-based office worker, get on Meetup.com and do some networking with other business owners who can share their tips, advice and wisdom on the new business journey with you; and just generally ready yourself (organise your home-office space, for instance) for diving in and taking the self-employed plunge.

But first…

If you would like to learn more about the National Bookkeeping licensee program, visit the National Bookkeeping website, read their FAQs page or get in contact with their team to discuss the opportunities available in more detail.

Otherwise, if you have all the information you need and you’re ready to get started, register now at the National Bookkeeping website and begin your bookkeeping journey today!

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How do you manage your online content marketing?

What’s all this about content marketing?

Content marketing and automatic marketing response marketing can help real estate agents standout and build credibility for property vendorsWe’re busy developing a new content marketing course because as a form of online marketing, content marketing is finally starting to come into its own. Content marketing has actually been around for many years – it’s been known as custom publishing, branded content, branded journalism, and custom media – but as it became more popular, marketers began referring to it as content marketing to make it easier to for their clients to understand.

Content marketing is basically the process of creating valuable, informative content – blog posts, email newsletters, ebooks, etc – and sharing it online to help attract and retain customers. But because it requires a lot of content to be produced and regularly, many small businesses are outsourcing their content marketing needs.

Your content marketing needs to have a purpose

To make the most out your content marketing, you need to have goals and a strategy in place to achieve them so you’re not just wasting your time. This is the same as traditional marketing activities, which we cover in our Small Business Management Course. You also need to be able monitor how each piece of content is going at achieving those goals.

If you’re also hiring a content writer or strategist to help you with your content marketing, you also need a way to easily collaborate. Now, if only there was a way to monitor and analyse your content marketing AND schedule and set content marketing tasks for those people you’re working with…

A tool for schedule and managing content marketing

Well, as we’ve recently discovered, there is! It’s a cloud-based content marketing and editorial calendar called CoSchedule and it allows you to schedule and create content marketing tasks, assign those tasks to your team, create and publish blog posts, share links to content via social media, and monitor the success of your content and the social media platform all within the CoSchedule app.

It’s a very powerful, very useful tool for small businesses that work with a number of remote workers who are based around the country, as it allows complete collaboration with your team and also integrates seamlessly with WordPress. It also helps you to optimise your blog titles and your social media sharing to help drive your web traffic.

By providing you with detail stats – and also integrating with most web analytics software, including Google Analytics – you can see what content performs well and what doesn’t, so you can improve you content in the future.

You need to know your readers to succeed

Because content marketing is about creating engaging and interesting content, whether it’s blog posts or ebooks or something else, it’s vital that you know what content your customers like and what the don’t, so you can ensure you’re always keeping them engaged.

In a post I wrote about content marketing not so long ago, I mentioned how important it is to know and understand your reader, because that’s what’ll help you to engage and interest them with your content. If you have highly engaged people consuming your content, they’re more like to share it with their friends, family and other people in their social networks.

This helps to spread the word about your business, which will bring you more customers and make you more money. But better than that, it’ll also help you to see new opportunities and areas into which you can expand your business.

Content marketing can help expand your business too

We used the feedback we received from our content marketing activities when we decided to develop the Xero training courses and the currently in-development content marketing course; it also guided us in our decision to partner with National Bookkeeping who are taking on licensees and helping them to start their own bookkeeping business.

Yes, we got all that from content marketing! Because through our content marketing, we got to know you, our readers, and what you were interested in and that allowed us to look for the types of courses and business opportunities that would interest you. You can do the same for your business too.

Learn about content marketing from the experts

If you’d like to learn about content marketing, our new content marketing course is currently in development. We’re working with an Australian journalist, a successful small business owner, and a digital marketing specialist to create a relevant, easy-to-follow course that’ll guide you through the process step-by-step. In the meantime, you can subscribe to our blog to continue reading our posts, where we’ll keep you updated on how it’s progressing.

If you’re looking for the opportunity to start your own home-based bookkeeping business, we recommend you get in touch with National Bookkeeping, who is taking on licensees. We’ve made all of our courses available to them, which will include our content marketing course when it becomes available so their licensees can learn all about starting and operating their own bookkeeping business.

What about content marketing for real estate agents

We’ve recently become aware of the need for real estate agents to build their own personal profile and credibility online. Property vendors who want to sell their property are (like the rest of us) increasing looking online for selling agents who have good experience and great reputation to sell their properties at the highest possible price and as quickly as possible. Watch this space as we learn more.

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The National Bookkeeping license fee is 100% tax deductible

Costs of starting a business are tax deductible

become an independent contract and start a bookkeeping businessIf you’re subscribed to this blog and you’ve been following our recent posts, then you should be aware that we’ve recently partnered with National Bookkeeping to deliver online training courses to their new licensees. We’ve also been writing about the $20k tax breaks introduced in the recent budget, which allows businesses to immediately write off asset purchases up the $20k as a tax deduction (rather than being depreciated over time).

While we caution you to be prudent when it comes to making business purchases, if you had been thinking about becoming an independent consultant and starting a home-based business and needed to make any purchases – office furniture, technology, a training course – now’s the time to do it.

Now that we’ve reached June, there are just a couple weeks left of this financial year, which means that any business purchases you make between now and June 30 will immediately go toward reducing your taxable income for this current financial year. This even includes the cost of becoming a National Bookkeeping licensee.

A tax-deductible license fee

Typically, when you buy a franchise or become a licensee, the franchise or license fee you pay forms part of the cost-base for your franchise or licensed business as your capital asset, and cannot be claimed as a tax deduction. However, because EzyLearn is a partner and is providing its entire suite of training courses to new licensees, the fee to join National Bookkeeping is technically considered a self-education expense.

Self-education expenses, when they directly relate to your business, are a hundred percent tax deductible. If you register before the end of this financial year – that is, June 30 – then you claim it as an immediate tax deduction, and reduce your taxable income by $1,600 straight off the bat – and that’s not to mention any other asset purchases you make, like new cars, office furniture, technology and the like.

Aside from being instantly gratifying to be able to claim a business expense back right away, it’ll also mean that you’ve technically started your new business in the black as opposed to in the red like new most businesses do. So whether the license fee results in a bigger tax cheque this year or just reduces the amount of tax you have to pay to the ATO, it’s still money in your pocket that you can reinvest into other areas of your business.

Register before June 30 to avoid starting your business in the red

One of the biggest hindrances to growth in the first year of business is poor cash flow, and unfortunately many small businesses experience poor cash flow in their first year of trading. It typically occurs when a business makes a number of, albeit necessary, business purchases that leave them cash strapped until they can file a tax return at the end of the financial year. As a result, it makes it difficult to spend money on marketing or to hire a contractor to carry out work you’re not skilled for – developing a smartphone app for your business, say.

As a result, you either miss out on investing in opportunities that will help to grow your business in the long term, or you wind up trying to muddle through it yourself, which is both a waste of your time and is also false economy, because you’re losing money by not attending to the tasks that are going to generate immediate revenue (completing someone’s BAS, for example).

Even though becoming a licensee is a low-risk new business option, which usually includes most of the things you need to start and grow your business during its infancy, like sales and marketing collateral – in fact, National Bookkeeping licensees will want for nothing as nearly everything, with the exception of an ABN and Cert IV accreditation, is included in the license fee – there is some flexibility to how you operate your business, which means that if you decide you want to branch out and offer content marketing services, you may need to regularly work with a designer or developer.

You’ll need money to pay them, and if you want to keep up a good relationship with your suppliers, you’ll want to pay them quickly and on time. Ideally, your end client will do the same for you, but oftentimes they don’t. If you’re always waiting to be paid before you can pay your suppliers, it’s not going to foster good relationships with either your client or your suppliers.

Start your National Bookkeeping business in the black

So that’s why it’s a good idea to register with National Bookkeeping and become a licensee before June 30. It’ll mean being able to claim back the entire license fee this financial year, so you can give your business the best change at growing and becoming a success from the very start.

As a National Bookkeeping licensee, you’ll receive full access to our entire suite of training courses, including our small business management course, which covers all of the important aspects of operating a small business, like developing a business plan, managing the financials, and researching the market – in this case, useful if you decide to offer additional services, besides just bookkeeping.

You’ll also gain access to any future courses we develop, and we currently have a content marketing course in the pipeline. I’ve mentioned in a blog post already that content marketing has become a real focus for many businesses now that they’ve come to realise how important it is to engage and interact with their customers online.

Develop your skills to expand your business

The content marketing course we’re developing is designed to give people the skills they need to start their own home-based content marketing business, which you may decide to utilise by expanding your services beyond just bookkeeping and operate a business that offers a Complete Business Operations service to other businesses.

For a lot of medium-sized enterprises – a plumbing business, for instance – that has a number of staff or contractors and struggles to keep up with the administrative side of the business, being able to deal with just one business would be far more convenient than having to engage each one separately – a bookkeeper, a virtual assistant, and a marketing agency.

But then again, you may just decide to take the skills you’ve learned, create your own content marketing strategy for your business, and implement it yourself. It’s up to you.

Achieve success through education and flexibility

National Bookkeeping and EzyLearn wants you to have the best chance at succeeding in your business venture, and we believe that the best way to achieve success is through education, and that the more skills you have and knowledge you possess, the more likely you are to achieve it.

I honestly, don’t know many other franchises or licensed businesses with that level of commitment to education, nor to the flexibility that comes with it. So if you would like to start a home-based bookkeeping business, but want to have the flexibility to expand you services beyond just bookkeeping, while also having the security that a licensed business offers – an established business model and name, access to infrastructure, training, and coaching – then it’s worth your while to look into being a licensee with National Bookkeeping.

Visit their website for more information, contact the team, or if you’d just like to get started today – before June 30 so you can claim your licence fee back right away – register your interest online.

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How much should a local bookkeeper charge?

What is a local bookkeeper worth?

I recently wrote a blog post about whether bookkeepers could also provide marketing services to their clients, which I also touched on in another recent post about starting a bookkeeping business and the need to be diverse in the services you offer as an independent contractor. While brainstorming with Ray from the Startup Academy about the services bookkeeper charge and the rates they can earn we discovered that there is a huge variety of services that a bookkeeper can offer and as a result their rates differ.

What does it take to be a registered BAS agentWith cloud-accounting software like Xero and MYOB using automatic bank feeds (also SAASU in their new announcement with Westpac), a lot of the data entry work involved in bookkeeping is reduced because bank statement entries can be automatically matched to transactions in the accounting software. What was once a time-consuming and sometimes complicated process has now become much simpler, and many business owners can manage the data entry themselves. What a business owner can’t do, however, is file their quarterly business activity statements (BAS) because a registered BAS agent must complete those.

Some local bookkeepers may have very low rates

It’s not uncommon for a local bookkeeper these days to charge between $16 and $20 an hour if they only provide data entry services and can complete the work from their home office. Registered BAS agents can charge a lot more than that because they have to go through rigorous training – which includes a certain number of hours supervised by an accountant – before they can be accredited to provide BAS services.

But what about bookkeepers who have a background more diverse than just accounting or finance? There are many bookkeepers who have held vastly different professions in vastly different industries before they started their own bookkeeping business.

Most new bookkeepers have diverse working histories

Since we started offering our MYOB training courses, we’ve found that many of our students initially wanted to know how to use MYOB so they could look after the accounts for their family business and then later decided to work full-time as a contract bookkeeper for a number of clients.

Most of these new bookkeepers previously had careers in sales or marketing prior to starting a bookkeeping business. By combining these skill sets, these simple bookkeeping businesses could offer turnkey business solutions to other small businesses, such as complete operations management services.

Turning modest hourly rates into sustainable wages

The price you charge for goods or services should always include GST.
The price you charge for goods or services should always include GST.

In doing so, what would have been a modest hourly rate as a bookkeeper, can be transformed into a sustainable wage that will support a whole family. For people of a career change, creating a full service business is the best way to make you more valuable to clients.

That’s why, when we partnered with National Bookkeeping, we said we’d offer our accounting and office productivity training courses as part of the licensee agreement because the more diverse and better skilled a business owner can be, the better chance they’ll have at succeeding in their business.

Possessing the skills you need to understand what’s involved in managing a small business is not only useful to your clients, it’s also useful to you; you’re also running a small business, after all.

Leverage your previous work experience in your new venture

Don’t estimate the value of your previous work experience. A background in marketing, for instance, means you understand consumer behaviours, your know how to package products or services so they’ll sell, and you have a strategic mind. These are invaluable skills to bring to any business, so leverage them.

Package your skills, whatever they may be, and develop a truly unique business offering that will help other businesses become more profitable, as well as your own. A full-service Small Business Operations and Management business, for instance, could easily charge their clients upwards of $65 an hour for one of their consultants (you) to manage the bookkeeping and other business operations for a client.

The demand is high for bookkeepers

It doesn’t matter if you don’t know how to use MYOB or Xero. Just take one of our MYOB or Xero courses, which teach you the fundamentals involved in managing a business’s books and then use your bookkeeping services as a way to get your foot in the door with clients.

As I mentioned in my post on starting a bookkeeping business every business has to file a tax return so it’s vital that they keep their bookkeeping up-to-date. Most businesses won’t think they need someone to manage the operations of their business, but they will concede they need a bookkeeper. It’s bookkeeping that will deliver the leads you need because it’s such a highly sought-after service.

Even though a local bookkeeper may only charge modest rates for their data entry services, a more far more experienced, diversified bookkeeping business – or full service operations management business – would earn significantly more for their services.

If you’re thinking of starting a bookkeeping business, you should consider becoming a licensee with National Bookkeeping, where you’ll receive access to EzyLearn’s Word. Excel, MYOB and Xero training courses, as well as any future ones. Alternatively, to learn more about starting a bookkeeping business or about working as a local bookkeeper, continue reading our blog.

Bookkeeping work and pay rates

By the way, if you want to take a look at the indicative pricing for certain types of bookkeeping/accounting tasks, read the Natbooks page about bookkeeping rates.

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Why Start a Bookkeeping Business?

Australia needs bookkeepers!

start a bookkeeping business
It can be daunting knowing where to get your first clients when you start your own business.

EVERY BUSINESS HAS A LEGAL requirement to file an annual tax return, and for some businesses, a quarterly or monthly business activity statement (BAS).

Accurate record keeping and data entry is a crucial component of filing both, and with the increasing number of start-ups and new small businesses in Australia, the demand for a good, reliable bookkeeper has been growing steadily.

People start their own businesses for a variety of reasons, but usually it’s because they need flexibility and want to do work that is rewarding.

For some people, starting their own business is the next natural step in their career – perhaps they’ve worked for many years as hairdresser in someone else’s salon; or worked for someone else as a chef or photographer or builder, and going out on their own just makes good career sense.

Bookkeeping: the low-risk, high reward business option

However, for many, the career path isn’t so clear, or they always may have seen themselves shackled to a job working for someone else. To them, starting a business always seemed like something that hinged on a really great idea or new invention, and in absence of either, it has remained out of their grasp.

But it’s not. Becoming a bookkeeper is an accessible, low-risk new business option for any self-motivated person with good computer skills. You don’t even have to love being a number cruncher to be a good bookkeeper, because most bookkeepers don’t do much number crunching these days anyway.

The multi-talented bookkeeper

With the rise of cloud-accounting software like Xero and MYOB Account Right Live, for which we offer online training courses in both platforms, most bookkeepers set up the bank feeds option for their clients, which automatically matches transactions in their bank account with the transactions in their accounting software. This eliminates much of the grunt work associated with the data entry aspect of bookkeeping, freeing the bookkeeper up to do other things for their clients (like BAS) or even pick up some extra clients.

Increasingly, though, and this is largely due to the number of new bookkeepers who don’t come from a finance or accounting background, many bookkeepers are diversifying in the services they offer by performing other functions within their clients’ businesses. This demand for multi-talented bookkeepers brings me back to what I was saying earlier in this post about the growing number of new small businesses.

With great demand, comes great opportunity

As more people start new businesses, which only looks set to increase over the next couple of years thanks to the many tax breaks included in this year’s federal budget, these businesses require more than a good, reliable bookkeeper; they also need web developers, content marketers, virtual assistants, operational managers, and the like.

Hiring several different contractors to manage each aspect of their business is not only costly – it’s also time consuming. Most business owners would rather hire just one or two contractors who have a broad base of skills – a bookkeeper with administration and operational experience or a content marketer with web design experience, for example.

Develop valuable business skills

A bookkeeper with business administration skills, which can be obtained by enrolling in our Small Business Management Course, is a valuable asset to any business — and it doesn’t mean you have to become a Jack (or Jill) of all trades.

EzyLearn is passionate about helping people start their own bookkeeping businesses, and to this end, we have worked to help develop National Bookkeeping, an Australia-wide network of Australian bookkeepers and registered BAS agents, which helps to match small businesses with a bookkeeping professional that meets their business needs. National Bookkeeping is now looking to expand its network by licensing its business to people who would like to start a bookkeeping business.

Becoming a National Bookkeeping Licensee

Ever since we started delivering our MYOB training courses online, and watched as other tools like Dropbox and WordPress and the many Google apps made it easier and easier for people work entirely from their home office, we’ve wanted to help people to start their own home-based bookkeeping business.

Finally that dream of ours has been realised with our partnership with National Bookkeeping. As part of the National Bookkeeping partnership, we’re offering our Microsoft Word, Microsoft Excel, MYOB and Xero Training Courses to National Bookkeeping licensees.

The reason for this is that we believe that continued learning and professional development is crucial for every business owner, especially if they want to stay ahead of trends and new developments in their industry and if you’re interested in becoming an independent contractor running a bookkeeping business from home then these software programs are essential.

Stay ahead of industry trends

Keeping up with industry developments is something we do as a matter of priority at EzyLearn because we want to be able to provide training courses that are relevant to the latest trends, which is why we’re busy working with some of the top digital marketers and strategists to develop our Content Marketing course.

When you become a National Bookkeeping licensee, you’ll have access to this Content Marketing training course as part of the small business marketing course which is available as an optional extra. This will help you market your services more effectively.

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lifelong learning platform woman online learning for lifeIf you would like to learn more about National Bookkeeping or becoming a licensee, visit the National Bookkeeping website or register your interest online. For more information on starting a bookkeeping business, continue reading our blog, which we constantly update with news and advice on starting a business.