Everything You Need To Know On How To Become A Virtual Bookkeeper
Are you knowledgeable in bookkeeping? Do you want to work at the comforts of your home? Then this one is for you. Read on and learn how to become a virtual bookkeeper.
Working from home or working virtually is becoming a trend nowadays. A lot of people especially young moms would rather find a job that will keep them at home to be with their kids than be at their usual 8 to 5 job in the corporate world.
If you look into different job search sites, you will get to find a lot of work-from-home job opportunities. The opportunities vary from accounting to design to writing, and so much more. Virtual bookkeeping is actually one of the choices available. Wondering how to become a virtual bookkeeper? Well, let’s start.
What is a virtual bookkeeper?
Before we even go into the details of how to become a virtual bookkeeper, let’s start with defining what a virtual bookkeeper is.
A lot of people confuse bookkeeping to being an account, when in fact, these are two different things. For your information, on one hand, an accountant is someone who has earned a degree in accountancy or a certification. Accountants are responsible for auditing financial statements, as well as in doing your taxes every year.
Bookkeeping, on another hand, does not require formal education. A bookkeeper is responsible for a business’s daily financial activities. Also, part of their job is collecting payments for invoices, as well as paying bills. They also update financial records, create financial reports, check records for accuracy, and post financial records in a computer program, as well as put debits and credits to the right accounts. They may also handle reimbursements of employees, receive receipts, and take charge of receivables.
In general, a bookkeeper is responsible for tracking all the money that goes in and out of the company on a daily basis.
Now, then what is a virtual bookkeeper? Well, the only difference is, we added the word virtual, which means, you do all bookkeeping tasks at your own space or home instead of in the office. The task of a virtual bookkeeper is basically the same as their office-based counterparts.
For a better understanding of a virtual bookkeeper’s tasks, you may check in the list below:,
- Maintain the company’s annual budgets.
- Monitor debt level or financial standing of the company.
- Maintain a petty cash fund.
- Conduct monthly or annual account reconciliation.
- Process employees’ payroll.
- Update the company’s chart of accounts.
- Analyze the financial statements of the company.
- Ensure on-time collection of receivables.
- Keep a record of cash receipts.
- Handle issuing of customer invoices.
- Ensure that the company complies with local, state and federal government laws on financial reporting and taxes.
- Perform admin support tasks.
How to become a virtual bookkeeper?
Now that you already what virtual bookkeeping is all about, let’s move on to the next few things you that you need to know. How does one become a virtual bookkeeper?
Unlike other freelance jobs, anyone can be a virtual bookkeeper. In fact, you don’t necessarily have to earn a degree to become one. All you need to have basic accounting and administrative skills and you are good to go. In case you are not confident of your sills, you may opt to attend an on-the-job training to be successful in this field. You also do not necessarily need any previous experience for you to be considered in a virtual bookkeeping job as some companies consider even those without previous work experience.
But how does one become successful in this field, really? Well, here are a few tips from us:
- Work on your skills. Never stop honing your skills. The more you work on it, the better.
- Always be efficient. Efficiency is the key for a virtual bookkeeping job especially since you are working on money and finances. Also, efficiency means meeting deadlines and expectations.
- Maintain a good working relationship with your client. Maintaining a good relationship with your clients means getting good feedbacks, and who knows? It could also lead to a long working relationship.
- Do not be picky. Do not be picky in working with clients especially if you are a newbie in the field. Nothing is irrelevant as long as they pay accordingly.
- Work of your reputation. For someone to be successful in virtual bookkeeping or in any job for that matter, he has to build a good reputation. Remember that the world is small. Make sure to leave a good mark on your clients. They will surely pass the word around. And when a lot of people get to know you and how you work, that means getting good clients in the future.
How much is a virtual bookkeeper salary?
A virtual bookkeeper salary can start from $18 up to $50 per hour. You can either work as a contractor for an online bookkeeping firm or handle your own client, or by putting up your own virtual bookkeeping company.
The virtual bookkeeper salary depends on the number of clients you have served, the employment you have obtained, as well as your work experience and expertise. Freelance virtual bookkeepers who have handled multiple clients in the past normally charge their clients for a per hour basis. They earn around $50 per hour.
Also, note that the virtual bookkeeper salary may also depend on the kind of client you have. If you are working for a company, then expect a bigger salary. Otherwise, it’s within the minimum.
What are the pros and cons of working as a virtual bookkeeper?
Like any other remote jobs, being a virtual bookkeeper means being able to work from home. No need to wake up early and drive yourself to the office. You can work at your own pace. Also, you get away from the stress of working in an office setting.
Unlike in a full-time corporate setting, you don’t get to have the security of tenure, as well as other employee benefits. Also, since you are working remotely, you are expected to deliver on time and meet deadlines.
Where to find virtual bookkeeping jobs?
There are a lot of online job posting sites where you can find virtual bookkeeping job opportunities. Some of these sites are:
- Bateman & Co.
- Belay Solutions
- Click Accounts
- TAD Accounting
- Click N Work
- Assurance Financial Management
Don’t forget to sign up and complete all the details and requirements for you to be able to start finding a virtual bookkeeping job. Also, note that virtual bookkeeper salary varies on every job posting channel. Do not limit yourself to registering in just one job posting site, register in as many as you can. A gentle reminder though, most companies that hire virtual bookkeeper may require you to sign a non-disclosure agreement or may ask you sign an agreement stating that you are not allowed to work in any company of the same field they are into.
The Bottom Line
There are several remote jobs available in the online job market today, and one of them is virtual bookkeeping. Virtual bookkeeping has been there for a long time but often overlooked. What people don’t know is, it is a very promising job. It opens a lot of opportunities and the salary is not bad at all. It’s competitive among other virtual jobs.
With that said, learn how to become a virtual bookkeeper today, and earn as much as virtual bookkeeper salary as you can. With the right attitude, hard work and dedication for the job, you will surely make it on this field.
Also, take advantage of it being a home-based job, which basically means more time to balance your work and your life. if you are a mom, that means more time with your little one and family.