Hi all, I am a first time mum to a bubbly 7 month old boy. I am thinking of starting up bookkeeping from home. I was working in this field prior to having bub but would love to do it for myself so that I have more flexibility in regards to how much I do/earn & to have a balance as I hopefully expand my family.
I have looked into the logistics and I have the required qualifications and experience. I would love to hear from any other mummy's who have done or do this, and any pro's & cons. Also any tips, tricks, advice, handy resources etc.
I have always thought I would love to do it but it's the planning, getting clients & all of the 'what if's' that tend to make me put it in the too hard basket!!
Some inspiration to get past the initial set up would be much appreciated..
Many thanks in advance xx
2 Replies
I run my own bookkeeping business from home & onsite,
Definitely get liability insurance & register as a bas agent to cover yourself, it is so liberating to work for yourself, you will definitely need to 'book time'
Pro's
You run your own business
You set your hourly rate - average in north qld is $50-$60 an hour, set out a billing schedule, BAS is usually extra, travel fees, supplied stationary etc
If you don't expect to earn $75000 plus DO NOT register for gst as your outgoings are nowhere in your incomings & you will be paying the ato every qtr, set up an online saver account & transfer your 'weekly tax %' on the amount you bring in, saves getting a bill at the end of the year!
Con is making the time... it is hard with little ones & some nights I'm up till 1.00 am just to do book work with no distraction, it can be awesome! Do not let anyone tell you you can't... believe in yourself & you can make it happen! Good luck!! ???
I agree with the above response re: insurance registrations, and uninterrupted time etc.
I'll just add that you may consider approaching local accounting firms to see if they have clients looking for bookkeepers or are looking at hiring bookkeeping consultants themselves. GOOD bookkeepers are rare to find & accountants will snap then up! You may get a lower hourly rate, but you wont have to source your own clients.
Also factor in the cost of software which can be expensive ie Reckon, MYOB, Xero, if you have to provide it.
If you've got the skill set, it's a really good career that pays well & is super flexible around kids. Mine are both at school now so I mainly go "onsite" to work. But I still work my own hours so I can be parent helper, go on excursions & be flexible during school holidays. I highly recommend it.
Best of luck.