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

24 November, 2021

freelance accountant

Some programs can provide time tracking, workflow tools, finance reports, invoicing services, and more. Accounting freelancers need to have enough experience to attract clients. So if you’re looking to start a freelance accounting business right after graduation, that might not be the best move.

Freelancers enjoy more flexibility

You’re not employed by one firm, and you only earn depending on how many gigs and clients you actually get. Knowing how to become a freelance accountant entails using financial software. Command of these tech tools is a must for keeping up with the demands of the job. Accountants use a variety of digital tools, including Quickbooks, Xero, and Sage. Knowing how to become a freelance accountant could be the first step in joining this 57-million strong population of independent working Americans. Accounting is a particularly stressful industry because of the high workload and long hours.

Upwork

  • Many aspects of your job are in your hands, but that freedom of choice comes with responsibilities.
  • However, it’s important to have the necessary qualifications, experience, and a strong understanding of the accounting industry to succeed as a freelance accountant.
  • However, taking the licensing exam and becoming a CPA can give you an edge over others.
  • A freelance accountant is an accounting professional who provides services directly to their portfolio of clients rather than working for an accountancy firm or other business.
  • Each profile features a short intro written by the freelancer that allows you to get a feel for who they are as a person and whether or not their personality could be a good fit for your team.

So, if you don’t have much experience in accounting, doing it freelance could be hard for you. Freelance accounting is a growing field, and many people enjoy it as a career because of its potential for flexibility. Many businesses have internal auditors as a part of their staff, but you can also do this as a freelancer. A staff accountant manages the complete accounting cycle of a business. Though you may have done all of these tasks as a regularly-employed accountant, it can be difficult to navigate freelancing in the same way. Taxfyle connects you to a licensed CPA or EA who can take time-consuming bookkeeping work off your hands.

Is Being a Freelance Accountant Hard?

You’ll need to consider professional indemnity, public liability, cyber and contents insurance, depending on the services you plan to offer. If you’re considering taking on additional staff, take a look at employers’ liability insurance as well. Becoming self-employed also now means that you could be liable for any mistakes you make in relation to your accounting services.

Start finding clients

freelance accountant

The higher up you go and the more experience you gain, the more services you’ll be able to offer. Our tech-specialist brokerage team provide custom cover for high-growth companies with complex risks, web3, startups and scaleups in any stage of fundraising. Ryan Grundy is an experienced writer of business content at Sage with a background that spans both brand and marketing agencies. He has helped tech businesses find the right words across a range of formats, from web and social to campaigns and concepts.

Be gentle with yourself, and remember that you’re learning and making the first steps into the freelance world. You’ll make mistakes, and things won’t go as planned but that’s how we learn. No one is immune to this, no matter how well-prepared you’re, life simply happens. As a freelancer, it’s easier to get out of balance in your life due to the unstructured nature of freelance work.

  • Starting your own freelance accounting business involves several steps.
  • Freelance accounting is different to working full-time in an accountancy firm or in-house department for a number of reasons.
  • There are plenty of areas to choose from, so you can find your niche and specialize in what excites you.
  • The question of whether or not an accountant or bookkeeping freelancer is worth it depends entirely on your business and your abilities.
  • Freelance accountants can find work opportunities in various avenues.

Freelance accountants may work with a large company with many employees or a small business with only a few people that just needs some financial help. If you are going to work among popular freelance jobs, you must know how to run a business. Freelance accountants often work with small businesses that do not want full-time staff accountants. When you use Taxfyle, you’re guaranteed an affordable, licensed Professional. Tickmark, Inc. and its affiliates do not provide legal, tax or accounting advice. The information provided on this website does not, and is not intended to, constitute legal, tax or accounting advice or recommendations.

freelance accountant

Clients look through the site’s long list of accountants and bookkeepers by using its robust filter tools to find the right fit. You can filter accountants based on their specialty and what markets they have experience in, making it perfect to find the right bookkeeper for the job. The digital age provides a wealth of resources to help you find clients who need freelance accountants. Finding a good work/life balance as a freelance accountant can be challenging because accounting tasks for businesses can seem endless. As a freelancer, you may want to start out as a sole trader and then set up a limited company as your business grows. As you’ll know, these setups have different responsibilities in terms of submitting your tax returns.

  • There are plenty of high-paying companies we’ve turned down because we didn’t like their product.
  • If you’re not already a practising accountant, you should start by gaining qualifications from a recognised professional body.
  • We like this site for accountants because it allows you to post a job with your budget and negotiate bids or browse profiles of accountants to find the perfect one for you.
  • Discover why FreeAgent is the ideal software for freelance accountants.
  • It’s so easy to devote time to your client’s businesses while you keep putting off your own finance books.

Don’t Forget Your Own Taxes

freelance accountant

Enter your freelancing address and we’ll send you a FREE curated list of freelance jobs in your top category every week. Working for a firm, though a goal Certified Bookkeeper for many, is not your only option as an accountant. Fortunately for today’s qualified workers, the gig economy is flourishing, and it offers accountants another opportunity to build a viable career. Once you’re paired with an accounting freelancer, Guru provides dedicated “WorkRooms” that you can use to collaborate with your accountant and make sure you stay on the same page.

Start by building your LinkedIn profile and making sure your other social media accounts are professional. Of course, there are exceptions, such as the end of tax season when you can expect to have a lot of clients and work coming in. However, when you become a freelance accountant, you still enjoy control of your hours, workload, and clients, which could mean a greater work-life balance overall. Being an employee for an accounting firm or a salaried accountant by another company obviously has its own perks. These of course make it a more appealing option to those who are looking for stability in their life. On the other hand, Fiverr provides access to a wide variety of freelance accountants with diverse skills and price points.

Steps to Become a Freelance Accountant

Synder software has well over 25 integrations and keeps adding new ones regularly to help clients connect even more platforms. This software makes your accounting easier, more accurate, and less time-consuming. Finance and work stability are other elements that need to be spoken about. During the busy tax season every accountant has their hands full, so that shouldn’t be discounted. But all in all, you won’t get a neat monthly salary – and your finances will mostly depend on how well your business is doing and how much work you’re willing to take on. If you’re moving from being an employee to starting your freelance business, it might be hard to set the right tone for the B2B relationships that you’ll have from now on.

Company

Furthermore, the long hours, demand from clients, and pressure to lower fees can all contribute to added stress. With the ever-changing tax laws and accounting standards, the pressure to remain compliant adds an extra layer of stress. Some staff accountant roles are niche, which means they focus on a singular part of the accounting cycle, such as accounts receivable or general ledger accounting. They will ensure businesses accrue tax liabilities correctly and ensure point-of-sale tax calculations are correct as these can have big implications for a business.

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