Bookkeeping Profession and Bookkeeper’s Role in Accounting

Bookkeeping can be profitable as many businesses seek to outsource their financial management to professionals. However, it is a competitive market and only the most experienced bookkeepers are able to charge big money. Using your surname in your bookkeeping business can be a good strategy if you already have contacts in the field and a platform to grow with. However, it is not necessary; a name that is professional and memorable is likely the better option for an entrepreneur just starting out in the field. Identify what kind of client you will be targeting with your bookkeeping business and create a list of keywords that will appeal to their needs and personality.

• In addition to these responsibilities, you’ll also need to learn how to use accounting software.
• When the competition gets serious, the edge goes to those who know how and why real business strategy works.
• As bookkeepers work closely with raw data, they tend to develop a good understanding of how a business works.
• Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations.

CPAs have passed the Uniform CPA Exam – a challenging exam that tests knowledge of tax laws and standard accounting practices. You’ll get instant access to all skills and keywords, plus be able to score your resume against them – no strings attached. And career changes you can make as a Bookkeeper, based on skills you already have. When the competition gets serious, the edge goes to those who know how and why real business strategy works. Financial Metrics are center-stage in every business, every day. Metrics are crucial for business planning, making informed decisions, defining strategic targets, and measuring performance.

What Other Activities Do Bookkeepers Perform?

It can be difficult knowing where to start, so we’ve broken down the process into five simple steps. Find some names you love and narrow down the another name for bookkeeper list to a name that works best for your business. As in most departments, the #2 person on the accounting team is typically a vice president.

Again, try entering some of these words into our bookkeeping business name generator for even more ideas. Online bookkeeping services allow you to set up an account with your clients and charge them monthly fees. They usually require less training https://www.bookstime.com/ than traditional bookkeepers. Do you want to start a bookkeeping business but don’t know where to begin? We’ve collected a huge list of catchy bookkeeping business name ideas to help you come up with the perfect name for your new business.

Avoid hard-to-spell and hard to remember names

To receive this certification, an accountant must pass the required exams and have two years of professional experience. A CPA is an accountant who has met their state’s requirements and passed the Uniform CPA Exam.

A bookkeeper can expect to earn a salary in the range of$30,000-$60,000 a year in the US. However, compensation will widely vary depending on the employer, location, and candidate experience. Bigger companies tend to offer better compensation for bookkeepers; this is largely due to the increased volume of transactions and data. A multinational corporation performs hundreds of transactions a second, while a small business might perform less than a hundred in a day. Think about names like QuickBooks or Botkeeper as examples of this. Conversely, long or complex names can be much harder to market, so try to avoid anything that is too lengthy or convoluted.