Are you detail-oriented and enjoy math and spreadsheets? Then, becoming a virtual bookkeeper might be your career calling. Here is how you can work from home as a bookkeeper!

Working as a virtual bookkeeper is an excellent way to make good money and gain the flexibility and freedom you crave. Plus, getting started is easy. There’s not a lot of set-up or equipment required, aside from a computer, an internet connection, and bookkeeping software. While learning the ropes of bookkeeping can take some time, almost anyone with a head for numbers and a propensity for data entry can learn this skill with practice.

If you want to work from home as a bookkeeper — here’s what you need to know.

The Difference Between Bookkeepers and Accountants

When you hear the term bookkeeping, you may wonder what responsibilities and experience are required. Unlike an accountant or CPA (certified public accountant), which requires a bachelor’s degree and license, bookkeepers fall under the umbrella of finance accounting.

However, bookkeepers are more focused on the day-to-day operations of tracking income and expenses and balancing the books. While experience is beneficial to working as a bookkeeper, you don’t need a college degree or CPA license. Therefore, while the bookkeeping role requires close attention to detail and a high level of accuracy, there’s less responsibility than an accountant’s role.

On the other hand, accountants are typically in charge of setting up the overall budget and financial direction for a business; they oversee tax information and set up the chart of accounts according to standard accounting practices. Accountants analyze and audit financial information, produce reports, and make strategic recommendations based on data and tax laws.

What Types of Work Do Bookkeepers Do?

Bookkeeping is a back-office position required in almost every industry, so there’s the built-in advantage of being able to work in any field. Once you’re trained in bookkeeping, you can work within many different industries and find work that interests you; whether working with small business owners, bloggers, or even non-profits, every industry needs bookkeepers.

Common bookkeeping tasks often include:

  • Managing financial transactions
  • Entering income and expenses
  • Provide monthly reconciliations, financial statements, and financial records
  • Managing inventory counts
  • Financial reporting
  • Managing invoices and paying vendors
  • Processing payroll
  • Monitoring petty cash

What Qualifications Do You Need?

If you have a formal education in business, accounting, or mathematics or previous experience balancing the books for a family business or shop — you probably have a good foundation to work from home as a bookkeeper.

However, if you don’t have bookkeeping experience, there are ways to get up to speed. For instance, try this FREE online bookkeeping training