BOOKKEEPING FOR BEGINNERS - ALL YOU NEED TO KNOW - YouTube

Hi guys and welcome back to my channel.

In this video, we will discuss what exactly does a bookkeeper do.

What are the requirements and how much can you earn if you are a newbie or if you have an experience in accounting world.

So if you are interested on this video please keep on  watching until the end, do not skip  

so you don't miss any tips and tricks that I will share throughout the video.

So without further ado, let's get started.

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If you are new to this channel, I'm Kajea.

Virtual Assistant

Executive Assistant

Bookkeeper

Accountant

so whatever work I enter as long as it's online

because online work is

amazing

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okay so let's start

Okay, so what exactly is a bookkeeper

A bookkeeper is a person who keep records financial transactions of a business.

So as a bookkeeper, you recorded his financial transactions with the

bank

or invoices and their sales.

So that's what a bookkeeper do.

actually we have different levels of bookkeeper

So for example, you have zero knowledge, you can be a bookkeeper even if you don't have accountancy certificate

or you are not an accountancy graduate but as long as you have basic knowledge when it comes to accounting about debit and credit

So what does a bookkeeper do?

It actually depend on the level of experience.

For example, you are a newbie, then I can say, what a bookkeeper can do is to record and to upload

bank transactions of the client in their accounting database

So your client will give you bank statement  monthly and your going to convert the statement into an excel

and then you'll upload it to the account software of your client

It's either Xero

or QuickBooks

so after you upload the transaction, what you'll do next is to record the transaction on the bank category that it fall

For example, client bought a food, related to business, so on which category are you going to record it?

It can be on meals and entertainment or food and beverages  so depending on which country your client is located.

Another is , you will also record his expenses.

So for example your client has a receipt. He'll take a picture of it and will send it to you through bropbox or google drive.

So what you will do is to upload this receipt in their accounting software and also record what transaction it falls.

Also another thing to consider is if it was bought through credit card or bank statement or cash.

So that's how it is. It's a bit complicated, but if you are an accountancy graduate, I'm sure you are already familiar with the terms I am saying.

or even if you are not an accountancy graduate as long as you have basic knowledge in accounting for sure you know what I am saying

So another thing that you will do is to record sales.

So you will create invoices and you'll send it to their clients. So that's one too.

Another thing that you can do is to reconcile their bank statement.

So making sure that there are no missed transactions or missing uploads in their account software.

So that's the basic thing a bookkeeper does.

Actually, we also have a bookkeeper that only focuses on one area, like you will only upload bills on their accounting software,

and there are also those who just focus on categorizing or reconciling bank statement.

So it still depends on who your client will be.

So that's the basic thing a bookkeeper can do.

So for example you have experience then you can now level up and of course your rate there will also level up.

So if you already know how to prepare financial statement like balance sheet

and pl or income statement then you can charge it to your client

as additional rate, okay? So that's the difference.

So, what are the industries that a bookkeeper can apply for?

Actually we have many industries so any company has bookkeepers or accountants in their company.

So our market is so vast, we have

ecommerce and dropshipping

We have healthcare or construction.

So immense. So for me, I just focus myself and my services on ecommerce businesses.

Because in ecommerce businesses, things are not that difficult as long as you understand the process of their transaction

So when we say ecommerce businesses they are the business owners who sell on

amazon or shopify, on etsy or any ecommerce platform.

So for me, I only focus on shopify and then on amazon sellers.

So, you, what expertise do you want, then you can focus on that,

and when you become an expert there you can charge at the rate you want, when you become an expert.

So, how much does a bookkeeper earn?

That depends on your level.

If you are a newbie then you can start with

four dollars per hour and then for fixed rate  you can start at twenty thousand per month.

But if you already have experience, I can say that you can start five dollars to six dollars per hour

or thirty thousand to forty thousand per month for fixed rate.

But if you already have experience and you believe yourself that you can deliver the result that the clients wants

without so much help from them, without them training you, as in you really know the process from setting up an account and connecting

third party application and prepare financial report then you can now charge, your lowest rate is

ten dollars per hour

and then if you are per month you can charge sixty thousand pesos per month and more

So it also depends on who your client will be, if your client is small even if you are an expert and your client is very small,

he can't afford to pay sixty thousand per month for your services if their revenue is very small.

So make sure you also consider how big the company is,

because even though I helped a lot of business owners, I handle their accounting database.

I still agree to the charge of three hundred fifty dollars per month.

Because it really depends on the size of the client's business, because that business is small and he's just starting out.

So if you are new and the income of the company that you provide is not that big

then you can adjust your rate even if you are an expert.

So when it comes to working schedule,

How is the working schedule of a bookkeeper?

Actually it depends, If you tally eight hours full time and you only have one client

and he asks or he suggests or you both agreed that you will work for him fulltime for eight hours then you're eight hours.

But if you are a freelancer bookkeeper, you control your time, you can work at the time you want.

So for example, just spend one hour with a client in a day, that's okay as long as you deliver the result

so for example, I have 10 clients, I don't do it like I need eight hours for this client, eight hours for another client.

so of course you can't sleep then.

so of course, in your first conversation, you should clarify to him what time you are available for him

and how your working schedule is with him and when can you submit a report based on his needs.

So I can say that the working schedule of a bookkeeper is flexible so you can get as many clients as you want.

You can take three, four, five, ten or more depending on your ability and the time you spend.

So what are the basic requirements that you must have to start as a bookkeeper?

so of course, like what I say in all freelancing jobs,

you must have a computer and internet

So in mbps there is no required mbps as long as your internet is relatively fast.

So, do you have to have experience to be hired as a bookkeeper?

As what I've said earlier, basic knowledge of debit and credit is okay and then much better if you have certification or if you are a cpa.

Of course you have an edge, but they usually don't asked if you are certified or not,

based on my experience unless they really need is certified.

So what are the common software used by a bookkeeper?

So basic, very common when it comes to the US or Canada is

QuickBooks online

So they offer certification but the exam there is very difficult.

and then the other one is zero, so zero is being used in Australia, UK, Hong Kong, Singapore, Thailand

Because zero is the latest accounting software that is often used.

So in zero, there is also certification here, it's easy to get a certification here,

but that certification isn't that important, you have a certification but you can't deliver a result so it doesn't matter

So the most important thing when it comes to offering your services

is the result that you can deliver to your clients.

So guys in bookkeeping niche, you can earn sixty thousand pesos per month depending on the number of your clients,

to two hundred thousand pesos or more.

So yeah, that's how much you can earn in bookkeeping niche, you don't have to tie yourself for more than 8 hours.

And the good thing about this is you are at home and you can

work wherever you want, If you want to work in a coffee shop or in a

beach resort or some resort then that's fine as long as you have internet.

So yeah, if you have more question about

please comment down below and will do a second video  

based on the questions that you guys will send. So I hope this video will guide  you

and inspire you through your online  journey and see you on my next video.

Bye!