Become a Freelance Accountant: 9 Tips to Succeed in Freelance Accounting

A bookkeeper only needs a basic understanding and certification in the field of accounting to help record transactions and financial data while keeping daily responsibilities organized. Accountants are experts in the field, with in-depth insight into accounting and taxes, allowing them to provide financial business advice. Whether you use an accountant for tax season or not, it is important to have a handle on your finances all year long.

You can keep building your client base on the side until you have enough to work as a full-time freelancer. If you have a business-or accounting-related undergraduate degree, you can probably get into CPA PEP right away. CPA offers 14 preparatory courses in subjects such as economics and business law to get aspiring accountants up to speed. Some accountants take this a step further by hosting meet-ups with networking opportunities for their clients.

How to Become a Freelance Accountant & Find More Jobs

Having a member of your team who handles everything financial might seem tempting, but remember to factor in the salary and benefits you would be responsible for providing. Your two main choices will likely be an accounting firm or an independent accountant who you contract with. A search for “small business accountant” will net thousands of results, and attempting to wade through them all would be a challenge. Start by crowdsourcing accountant for freelancers and asking other small business owners who they use and trust with their finances. Once you have several names, complete some internet research on their background and experience, and read any available reviews. When you’re first starting out, hourly billing is usually the best way to go, but at some point in your career, you may want to transition to fixed-fee pricing for the services you provide clients.

Annual accounts include things like financial statements, audited records, balance sheets and a profit and loss account. It can seem daunting, but we are the experts in doing just this – so you can rest assured that your annual accounts will be taken care of. Our team of industry-leading freelancer accountancy specialists, tax specialists, and client managers work alongside freelancers like you every single day.

Don’t Mix Personal and Professional Funds

Upon gaining vast experience, you will have an option to become a financial planner or chartered accountant. This time can be better spent on creative work, planning, and strategizing. You can relax, knowing that you will meet your tax return deadlines, and that all incoming and outgoing transactions are well documented in case of an audit.

Most freelancers find that keeping accounts separate will eliminate the risk of cutting personal spending into your profits. 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.

For Freelance Accountant Jobs

Some remote accounting systems for independent contractors let them submit taxes from other states. For freelancers who need to disclose income, working with a certified public accountant has even more advantages. If you’ve been running your business for a while, the experience and skills of a CPA will keep complicated tax situations in check, and help you stay informed and compliant with laws.