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Also, wages vary greatly depending on which company you work for. Some companies pay as little as $20 per hour, whereas others pay as much as $60 per hour. For example, they might need to analyze client records and create appropriate reports for them.
After all, you can always change your plan down the road if you realize you didn’t really need to spend so much money to get started. You can start by quickly searching online to see if there are any bookkeeping businesses with a similar name. If there are, you’ll need to pick a different name to avoid any legal repercussions. This tool can quickly generate hundreds of potential names, giving you a starting point for creative ideas. With a little effort, you can easily find a great name for your bookkeeping business using a name generator tool. Matching what people searching for a bookkeeper will type into search engines is a good idea. For instance, many people search for “bookkeeping services” — so naming your business “Creative Bookkeeping Services” will make it more SEO-friendly.
You want to be able to easily convey who you are and what you do while being unique enough that you stand out from the competition. Now you have a shortlist of potential names, it’s time to put them to the test.
Doing so helps you know whether the company has received positive feedback or complaints. Reviews also give you insight into whether or not the company conducts thorough background checks. According to the Bureau of Labor Statistics , employment opportunities for bookkeepers are expected to grow 17% between 2016 and 2026. In 2018, the Bureau of Labor Statistics reported that bookkeepers made $45 per hour on average. That’s slightly lower than the national compensation median of $47. To become a successful bookkeeper, you must have a strong background in math and numbers.
Otherwise, you can face failures at the start of your bookkeeping business. Coming up with a cool name for the business will be a tough process. Because your name I not only a name, it is your brand image and identity. Many professionals, including coaches and other people bookkeeping in the arts can have their own businesses. The company name is one of the most important elements in the success of your bookkeeping company. The company name will be used everywhere, including in marketing, media articles, interviews, flyers — you get the idea.
After choosing a name, the next prudent thing to do is register the business. By following the due process, you get to have a legitimate business that wins over clients. Clients need to trust you, and there is nothing as trustworthy as having a registered business. The name should be easy to pronounce and have a nice ring. You don’t want customers stumbling over your name or having difficulty remembering it. What may appear fun to you may scare away potential customers. By choosing a name with a local flair, you’ll also set yourself apart from the competition.
Since 2014, Brett has interviewed over 100 entrepreneurs on the Food Empire Pro podcast and written hundreds of blog posts on all aspects of food business. Brett has been quoted in media outlets like Entrepreneur Magazine, CNBC, and The Washington Post. Bookkeepers have few other names, so the main ones are usually the most popular.
Many bookkeepers are happy to provide you with contact information for former clients who used their services. Call them up and let them know you’re interested in hiring them to manage your financial records. If you’re starting a bookkeeping business, you’ll want to make sure your company stands out from others. Your bookkeeping business name should appeal to your target audience.
Most bookkeepers are paid per transaction, which means that the more transactions you handle, the higher your earnings. Once you’ve chosen between desktop and internet-based software, you’ll still need to determine which one is best for your business. Many bookkeepers prefer desktop software because they can customize it to suit their own needs. However, internet-based software tends to be easier to maintain. Hence, a bookkeeper can save business money by reducing the number of employees needed. They can also reduce the amount of time spent managing the books.