Source: xero.com

How to be a freelance accountant or bookkeeper

1. Get online 

You’ll need a reliable internet connection and a laptop, along with a conferencing app that you’re happy with (many of which are free). You can also accept online payments with apps like Stripe or PayPal. That’s really handy if you end up selling a subscription accounting service (see 3. Create service bundles).

2. Connect to cloud software

It’s much easier to work with clients when you can both log into their account at the same time. It’ll help you answer questions in context, while reducing the number of in-person meetings. Smart cloud accounting software allows you to do that. Plus it allows automatic data entry and daily bank reconciliation. It also makes payroll much easier.

3. Create service bundles

Most small businesses want certainty around their expenses. Hourly billing doesn’t give them that. Try agreeing on a plan where you provide specific services for a monthly retainer. This often includes write-up work such as account reconciliations, day-to-day assistance posting transactions, managing bill payments, providing reports, and advising on business growth. See how Bean Ninjas set up their bundles and launched in one week.

4. Increase your revenue per client

After you get a few retainer clients onboard, think about how you can sell them more services. It’s often easier to get more revenue from existing clients than to find new ones. Leverage the goodwill you’ve built up from automating their basic accounting by offering to do the same with their payroll. Or pitch them on tax planning. Or use cloud software’s built-in reporting and dashboard functions to advise clients on strategic business decisions. There are a lot of options.

5. Get free referrals

Being a ‘cloud accountant’ can be a draw. Many businesses specifically look for accountants who use online software. Go to the places where those prospects hang out. Start by listing on Xero’s advisor directory, which generates several thousand referrals a week for accountants and bookkeepers. Before you post a listing, however, read these tips on how to write a good one.

6. Build your digital presence 

There are probably a lot of potential clients in your local area, but there are millions more online. And as a freelance accountant with cloud software, you’re not limited by geography anymore. Use digital media to get the word out:

• Write and share posts on social media (ask happy clients to share them)
• Build a professional website
• Create an SEO strategy to help people find you
• Get into content marketing and post blogs
• Produce a simple email newsletter

7. Don’t forget traditional marketing

Try these tips on:

• Word-of-mouth marketing
• Perfecting your elevator pitch
• Holding accounting events
• Networking without getting stuck at stuffy events

8. Stay on top of your expenses

It’s really easy to track revenue through invoicing and payment apps, but expenses are often overlooked. Keep an eye on costs such as phones, computers and software. Don’t forget charges associated with website hosting, professional memberships, directory listings, advertising, or networking. If you’re not a tax pro, speak to a peer who is and make sure you’re claiming all the deductions you can.

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