How to Start a Bookkeeping Side Hustle for Extra Cash? (With Zero Experience?)

Are you looking for a way to make some extra cash? If so, starting a bookkeeping side hustle may be the perfect solution for you.

Bookkeeping is a great way to make money because it is relatively simple and doesn’t require a lot of start-up costs. In addition, there is a growing demand for bookkeepers, making this an excellent option for those who want to start their own business.

What Do Bookkeepers Do in the Course of a Day?

First of all, bookkeepers are not accountants.

Contrary to popular belief, bookkeepers and accountants are not the same. Although they share some objectives, there are some differences that make bookkeeping a job that may be started with less knowledge and skill.

A bookkeeper is responsible for recording all financial transactions of a company. This includes recording sales, purchases, payments, and receipts. They also maintain lists of assets and liabilities, as well as track any changes in these items over time.

An accountant helps prepare and examine financial records to provide information that is useful in making business decisions. They may work with tax forms, advise on investments, or review financial statements. Accountants may also function as auditors, which means they assess the accuracy of a company’s financial statements.

In the simplest terms, a bookkeeper keeps track of a company’s financial transactions, while an accountant prepares and examines financial records to provide information that is useful in making business decisions.

Do You Have the Basic Bookkeeping Skills to Become a Bookkeeper?

f you’re interested in becoming a bookkeeper, you may be wondering if you have the necessary skills. Many people think that bookkeeping is just about keeping track of numbers, but it’s so much more than that.

Aside from education and experience, there are a few skills that any bookkeeper should possess:

• Computer literacy: Microsoft Excel and Google Sheets are both popular tools used in bookkeeping, so make sure you know how to use them effectively. You should also be comfortable using computers for basic tasks such as browsing the internet, sending emails, and creating documents.
• Mathematics: A good bookkeeper should be proficient in basic math skills, including addition, subtraction, multiplication, and division. They should also be able to understand financial concepts like debits and credits. These are all essential skills for anyone looking to pursue a career in bookkeeping.
• Attention to detail: Accuracy is critical in bookkeeping; any mistakes can result in lost money or even fines from the IRS.
• Organizational skills: Bookkeepers must be able to keep track of multiple financial transactions and records simultaneously.
• Problem-solving: You must possess the knowledge necessary to correct any inaccuracies. You should be able to develop and carry out a plan to detect and correct problems as they aren’t always obvious.

Can You Be a Successful Bookkeeper Without Experience?

Yes, you can become a bookkeeper even if you have no prior experience, but you might need to gain some necessary abilities before you start.

Learn by yourself

One of the best ways to learn about bookkeeping is to find a mentor. If you know someone who is already doing bookkeeping work, they can teach you the basics and help you develop the skills you need.

A trustworthy book can also be utilized to study the foundations of accounting as well as terminology and tools that are regularly used in the industry. Learn to read balance sheets, recognize an income statement, and create a strong cash flow statement.

Find a highly-related online training course

You may still learn at your own pace while receiving instruction from professionals, making this a nice compromise between independent learning and more formal training.

Udemy

On the online learning platform Udemy, you can find thousands of courses on a huge range of topics, including bookkeeping. These programs are ordinarily affordable, costing on average between $50 and $100. They are therefore perfect for anyone on a tight budget or who might want to study the fundamentals before investing in a more expensive course.

A great place to begin is with the Bookkeeping Basics #1: Understanding the Fundamentals course. With over 15,000 customer evaluations, it has a rating of 4.6 out of 5 stars and costs $75.

Bookkeepers.com

You will learn the most up-to-date bookkeeping techniques, how to set up effective procedures, and how to locate customers with Bookkeepers.com. The course includes live Q&As, unlimited email support, and access to a professional attorney who can respond to any of your legal inquiries.

This strategy is effective if you’re interested in dealing with freelancers or solopreneurs who want to outsource their bookkeeping duties.

Become a certified bookkeeper

This is by far the most time-consuming method of training, but you can use your certification to attract more clients. You can earn certification from one of these two leading professional bookkeeper organizations:

1. American Institute of Professional Bookkeepers (AIPB): You must pass the four-part national certification exam and have the necessary 3,000 hours of work experience in order to become AIPB-certified.

2. National Association of Certified Public Bookkeepers (NACPB): You must pass a test and provide documentation proving that you have an Associate’s or Bachelor’s degree in accounting in order to become certified by the NACPB.

You can also earn certification through local or online college courses.

How to Find Bookkeeping Clients

Bookkeeping is a great option if you want to work remotely and have an online business. It’s also a great way to get started if you’re new to freelancing. Here are a few tips for finding new bookkeeping clients:

1. Start by reaching out to your network. Let your friends, family, and colleagues know that you’re offering bookkeeping services. They may know of someone who needs help with their books. You may be surprised at how many people are looking for someone like you!
2. Another way to find new bookkeeping clients is to create a website or blog. This will give you a platform to market your services, and it also allows potential clients to learn more about you and your qualifications.
3. You can also use social media sites like LinkedIn and Facebook to connect with potential clients.

How Long Does it Take to Become a Bookkeeper?

It really depends on how much time you can commit to acquiring all the knowledge required to get your first client.

You will see benefits more quickly if you put more effort into learning about bookkeeping and taking action. With the correct instruction, you can learn these skills in as short as three months if you are dedicated and can dedicate about three to four hours a day to learning.

The Final Word: How to Start a Bookkeeping Side Hustle

Starting a bookkeeping side hustle can be a great way to make some extra money. It can also be a great way to get started in the accounting field.

There are many different ways to start a bookkeeping side hustle, and there are many resources available to help you get started. So, if you are interested in starting a bookkeeping side hustle, there is no better time than now.