Get into Freelance Accounting with these 7 tips for Accountants
Creative people are everywhere and in every sector. Freelancing accounting is a process used by many business owners in today’s world to reduce their work as well as cost of employing an accountant. Cloud accounting software makes easy for small business owners to provide various accounting works to freelancers in order to reduce their work burden. There are two reasons by which more freelancers are getting work now days.
- Online collaboration – Online collaboration makes it easy for business owners to work with freelancers online with the help of an Internet connection.
- Subscription software – Independent contractors can easily use enterprise-level software by paying small amount of subscription fee.
Employing an accountant can be a costly affair as you need an archive space for paper files, dedicated servers, costly software packages and meeting rooms. Not only this but business owners also require people resources to complete the clerical work such as data entry, maintaining journals and filing documents after the employment of an accountant in the organization. Therefore, rather than going for hiring an accountant, business owner prefers to work with freelancer accountants.
How to be a Freelance Accountant?
1. Get Online
Working online is the first step towards freelancing. In order to start as a freelancer, you need a laptop or a PC with a reliable internet connection along with a conferencing app. You can also register for apps like Stripe, GoCardless, or Paypal in order to accept payments online.
2. Connect to Cloud Software
Cloud software is a need of today’s world as it is easy to work on it. With the help of cloud accounting software, both you & your clients can easily log in to the accounts at the same time. You can easily answer your client’s questions with cloud accounting software as it reduces the need of face to face meetings. It reduces the manual work and allows automatic data entry and bank reconciliation. It also helps in making payroll process faster & easier.
3. Create Service Bundles
If you want certainty around your expenses, try to create service bundles, where you provide specific services to your clients on monthly basis. Creating service bundles provides list of services to the clients along with the cost so that every client easily understands how much a particular service cost? Freelancing work includes day to day assistance in posting transactions, account reconciliations, managing of bill payments, providing reports, giving advice to the clients on business growth etc.
4. Increase your Revenue per Client
In order to increase your revenue per client, you need to think that how you can acquire more clients and sell more of your services. It’s much easier to earn more revenue from the existing clients rather than searching for new clients. Offer more accounting services to your existing clients as it will create your goodwill in the freelancing business. There are lots of options you can give to your client to buy your services at an affordable cost. It may help you in increasing your revenue per client.
5. Build your Digital Presence
Make your presence strong by using a cloud accounting software. There are lots of potential clients in your local area which you can target with the help of cloud accounting software as well as millions of users are waiting to communicate with you online. It’s all possible because of Cloud accounting software. There is no restriction on the area you can target;you can easily make your presence felt online with the use of digital media.
- Build a professional website
- Write & share posts on social media
- Create an SEO strategy which helps people to search you
- Get into blog posting and content marketing.
- Produce a simple e-mail newsletter.
6. Don’t forget Traditional Marketing
Kindly follow the steps mentioned below to market yourself along with your services –
- Word of mouth marketing
- Arranging accounting events
- Perfecting your elevator pitch
- Strong networking
7. Stay on top of your expenses
It is easy to track revenue through invoicing and payment apps but we have to understand that we can’t overlook our business expenses such as phone, computer & software. Kindly pay attention to the charges associated with web hosting, advertising, professional memberships, directory listing or networking. In case you have less understanding about the tax, speak to any professional accountant or a tax advisor in order to claim all the deductions you are eligible for.
You can easily start as a freelancer or a bookkeeper, what you need is good work ethics, Cloud accounting software and an entrepreneurial spirit.
How Nomisma Cloud Accounting Software help Freelancers?
Nomisma cloud accounting software helps freelancers in the following ways–
- It makes strong coordination between business owners and freelancers.
- It makes freelancer’s bookkeeping & payroll tasks faster.
- It allows automatic data entry and bank reconciliation.
- It helps in increasing your client base.
- It provides you opportunity to work with any business owner across the world.
- It helps in generating many powerful reports such as VAT reports etc.