As someone who is starting out, I found myself willing to take on anyone/anything as well, but I suddenly remembered recently that I am the owner of my own business, and that means I can decide what I will and will not work with. There is no reason to be unhappy running a business you created! Such a good video!
Thanks so much for your insights! I'm only a couple weeks in to Bookkeeper Launch and you've confirmed some thoughts that I've been considering about my new business. Great info!
As someone who has done perhaps "too much" research into this subject over the past 6+ months, I have loved learning from your videos along the way! I am SO GLAD you included the free series for Bookkeeper Launch. I have been seriously considering it, and am excited after watching the entire series. There are some amazing bonuses for anyone considering their service. (I won't detail any price discounts here, since they say that it might not last "forever"). But I would check it out if you're even thinking of them as a possible option.
@@FinePointsBookkeeping I have! So much so, that I would rather use your affiliate link when I'm ready to register. If there is a price difference, I will just call them to see if they will honor it. You have provided 90% of the information I've learned, in clear and easy to understand videos! 😀
I think at the beginning you take the lower pay until you have confidence but once you gain confidence is easy to quote someone a hire rate and also i have turned down a couple of potential clients because they weren’t a good fit. I only work with people who use QBO and everything is remote.
Working with a CPA as a bookkeeper is highly beneficial, this is another service you can give your client, or working with their CPA can save them time do the final process of Year End which in turns saves your client money because CPA's are more expensive than Bookkeepers.
I probably don't have enough info for a full video, but I can gauge the interest. I've worked for 1 non profit... the main differences are (from my experience) are that a board runs it, you need to do a annual budget, and often you need to divide the expenses into buckets (using classes)... fundraising, operating, program (or something similar). I'll think about it more for a video! :)
Where does a VA fit into your business I love the idea of outsourcing as much as possible but don’t really know what tasks to give them. Also, what systems do you have in place right now? That automate your business a bit more. Any pdfs or anything?
Great questions! I'll put this on my list of video ideas. For me, I outsource marketing (along with some YT stuff), you could also have a VA do onboarding, replying to email, or really anything else that takes up your time. I want to do even more to automate, but now I have lists of onboarding questions, monthly tasks per client, and a spreadsheet for each client with cheat sheets of how to categorize expenses. My video on "free workflow tool in asana" talks about it somewhat.
Hey Morgan, I've got a few questions. I know you answered most of mine in a previous vid, and I watched your short half hour master class, which was super helpful btw! But I have a few more if you don't mind: 1. I know typically, new bookkeepers can charge around $50 an hour, which if you have enough clients to have some sort of work load equivalent to full time, that would make you around $100,000 a year. At what point can you charge more? And how do you go about having that awkward conversation with someone, saying that your rates are going to increase? Or do you keep the same rates with current clients and just charge more for new ones you bring in? 2. With Bookkeeper Business Launch, the training is a bit pricey, but from the reviews I've seen about it, it's worth it. What is the best advice you could give to someone who wants to start that program? What are some tools you get that aren't offered from other sources? 3. With Quickbooks, there is a training on how to use the program. I am a newbie when it comes to MS Excel as well. Is there a training for that that is free or cheap to show basics of setting up tables and such in Excel? Could you link it in a video? 4. How do you stay up to date with latest technologies? Learning new programs is not my concern, but actually hearing about new software or a new way to do the business, how do you hear about it? 5. What does a typical contract look like? When you do take on new clients, I assume you have some sort of agreement that you can have them sign or something you can create on Docusign, but what would a typical contract look like? 6. Quickbooks and Excel are the only programs I've seen you mention, besides your own website. Are there any other programs you use, and if so, why? 7. Speaking of your website, did you use Wix, or have someone create your website, like a freelance designer? I have a background in UX Design, that's really why I'm asking. 8. What certifications can someone get to increase their potential value in the industry? I am currently doing the free training from Quickbooks basics. I do apologize for the onslaught of questions, I am just very interested in the business! I've always wanted to get away from the 9-5 and be able to be my own boss and make my own schedule. Any answers you can provide would be very helpful!
I'll do my best to answer in this space, but may take some of your ideas/questions for new videos: 1. To up your rates, try to communicate the value you're bringing, be clear and professional (many industries need to do the same thing, so people are often understanding). 2. Make sure you have TIME to dedicate. Best things are it is comprehensive, hands-on and big support network. 3. Not sure on this, sorry 4. Networking, UA-cam, talking to other bookkeepers (usually virtually and in groups), webinars. 5. Check my video earlier this month all about contracts. 6. Gusto for payroll, very user-friendly! Many use Hubdoc for receipts 7. I started with Wix, did an update on squarespace and hired a designer (more info on my vid "blow up your website") 8. Advanced QB, tax prep, or bookkeeper launch certification. But, most clients (depending on size/niche) don't know/care about your certification, as long as you can do the job.
@@FinePointsBookkeeping Thank you so much for answering these questions! I know you must have a busy schedule, so thank you for taking the time to answer my onslaught of inquiries haha. I've been playing with the idea of starting a bookkeeping business for a while, but I never had the push until this year, where I don't want to be reliant on a company for my income. I want to make whatever I want on my own time, and I am a numbers guy on top of that, so bookkeeping fits perfectly! Thank you so much
I'll try to! :) I like to get as much info in as possible and not bore people, haha. If you're watching on a computer (and maybe some mobile devices) you can go to the gear at the bottom corner and change the speed of the video.
As someone who is starting out, I found myself willing to take on anyone/anything as well, but I suddenly remembered recently that I am the owner of my own business, and that means I can decide what I will and will not work with. There is no reason to be unhappy running a business you created! Such a good video!
YES! This. I was the same way... it's hard to take that step back and realize that, but SO helpful when you do.
Thanks so much for your insights! I'm only a couple weeks in to Bookkeeper Launch and you've confirmed some thoughts that I've been considering about my new business. Great info!
Great tips, thank you. Turning down clients you don't want to work with and tasks you don't want to take on are my big take-aways.
Awesome! Thanks for sharing!
As someone who has done perhaps "too much" research into this subject over the past 6+ months, I have loved learning from your videos along the way! I am SO GLAD you included the free series for Bookkeeper Launch. I have been seriously considering it, and am excited after watching the entire series. There are some amazing bonuses for anyone considering their service. (I won't detail any price discounts here, since they say that it might not last "forever"). But I would check it out if you're even thinking of them as a possible option.
I'm glad you've been helped by my channel. Bookkeeper Launch is such a helpful program. I saw that awesome deal also. :)
@@FinePointsBookkeeping I have! So much so, that I would rather use your affiliate link when I'm ready to register. If there is a price difference, I will just call them to see if they will honor it.
You have provided 90% of the information I've learned, in clear and easy to understand videos! 😀
Thanks so much for your helpful videos. Just getting into virtual bookkeeping to see if it’s my next career.
Wonderful!
You’re a rockstar
Thank you so much
I think at the beginning you take the lower pay until you have confidence but once you gain confidence is easy to quote someone a hire rate and also i have turned down a couple of potential clients because they weren’t a good fit. I only work with people who use QBO and everything is remote.
Yes, that is so true!! Definitely the case for me.
Working with a CPA as a bookkeeper is highly beneficial, this is another service you can give your client, or working with their CPA can save them time do the final process of Year End which in turns saves your client money because CPA's are more expensive than Bookkeepers.
Thank you so much for helpful ideas
You are so welcome!
Would you talk more about how is the bookkeeping process for non profit? How much differ from an LLC or any other profit organization?
I probably don't have enough info for a full video, but I can gauge the interest. I've worked for 1 non profit... the main differences are (from my experience) are that a board runs it, you need to do a annual budget, and often you need to divide the expenses into buckets (using classes)... fundraising, operating, program (or something similar). I'll think about it more for a video! :)
Thank you very much.
I forgot the why to myself.
Glad it helped
Beauty and brains 🙂
Thanks so much for your helpful videos! What was the name of the woman you mentioned Vanessa Louth? with the 6 figure business? Thanks Morgan!
Vanessa Lau, linked in the description! She's not a bookkeeper though, a digital marketer--she has an excellent channel!
Where does a VA fit into your business I love the idea of outsourcing as much as possible but don’t really know what tasks to give them.
Also, what systems do you have in place right now? That automate your business a bit more. Any pdfs or anything?
Great questions! I'll put this on my list of video ideas. For me, I outsource marketing (along with some YT stuff), you could also have a VA do onboarding, replying to email, or really anything else that takes up your time. I want to do even more to automate, but now I have lists of onboarding questions, monthly tasks per client, and a spreadsheet for each client with cheat sheets of how to categorize expenses. My video on "free workflow tool in asana" talks about it somewhat.
Hey Morgan, I've got a few questions. I know you answered most of mine in a previous vid, and I watched your short half hour master class, which was super helpful btw! But I have a few more if you don't mind:
1. I know typically, new bookkeepers can charge around $50 an hour, which if you have enough clients to have some sort of work load equivalent to full time, that would make you around $100,000 a year. At what point can you charge more? And how do you go about having that awkward conversation with someone, saying that your rates are going to increase? Or do you keep the same rates with current clients and just charge more for new ones you bring in?
2. With Bookkeeper Business Launch, the training is a bit pricey, but from the reviews I've seen about it, it's worth it. What is the best advice you could give to someone who wants to start that program? What are some tools you get that aren't offered from other sources?
3. With Quickbooks, there is a training on how to use the program. I am a newbie when it comes to MS Excel as well. Is there a training for that that is free or cheap to show basics of setting up tables and such in Excel? Could you link it in a video?
4. How do you stay up to date with latest technologies? Learning new programs is not my concern, but actually hearing about new software or a new way to do the business, how do you hear about it?
5. What does a typical contract look like? When you do take on new clients, I assume you have some sort of agreement that you can have them sign or something you can create on Docusign, but what would a typical contract look like?
6. Quickbooks and Excel are the only programs I've seen you mention, besides your own website. Are there any other programs you use, and if so, why?
7. Speaking of your website, did you use Wix, or have someone create your website, like a freelance designer? I have a background in UX Design, that's really why I'm asking.
8. What certifications can someone get to increase their potential value in the industry? I am currently doing the free training from Quickbooks basics.
I do apologize for the onslaught of questions, I am just very interested in the business! I've always wanted to get away from the 9-5 and be able to be my own boss and make my own schedule. Any answers you can provide would be very helpful!
Great questions! I'll reply within this week! :)
I'll do my best to answer in this space, but may take some of your ideas/questions for new videos:
1. To up your rates, try to communicate the value you're bringing, be clear and professional (many industries need to do the same thing, so people are often understanding).
2. Make sure you have TIME to dedicate. Best things are it is comprehensive, hands-on and big support network.
3. Not sure on this, sorry
4. Networking, UA-cam, talking to other bookkeepers (usually virtually and in groups), webinars.
5. Check my video earlier this month all about contracts.
6. Gusto for payroll, very user-friendly! Many use Hubdoc for receipts
7. I started with Wix, did an update on squarespace and hired a designer (more info on my vid "blow up your website")
8. Advanced QB, tax prep, or bookkeeper launch certification. But, most clients (depending on size/niche) don't know/care about your certification, as long as you can do the job.
@@FinePointsBookkeeping Thank you so much for answering these questions! I know you must have a busy schedule, so thank you for taking the time to answer my onslaught of inquiries haha. I've been playing with the idea of starting a bookkeeping business for a while, but I never had the push until this year, where I don't want to be reliant on a company for my income. I want to make whatever I want on my own time, and I am a numbers guy on top of that, so bookkeeping fits perfectly! Thank you so much
Is It Possible For Indians To Get Clients For Bookkeeping
I love your videos. Please slow down and don’t talk too fast
Please... slow....down... in your speaking... 😊
Subtitles are an option for the video if you’re having trouble listening along... 🙂
I'll try to! :) I like to get as much info in as possible and not bore people, haha. If you're watching on a computer (and maybe some mobile devices) you can go to the gear at the bottom corner and change the speed of the video.