How Much Freelance Bookkeeper Earns? Where to Apply?

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What is Bookkeeping and Bookkeeper?

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Before we start talking and guiding you to find bookkeeping job let us define first what is bookkeeping and bookkeeper.

Bookkeeping (and accounting) involves the recording of a company’s financial transactions. The transactions will have to be identified, approved, sorted and stored in a manner so they can be retrieved and presented in the company’s financial statements and other reports.

bookkeeper is usually employed by a small to mid-size company to record its transactions such as sales, purchases, payroll, collection of accounts receivable, payment of bills, etc. A very small company might use the services of a bookkeeping firm that employees bookkeepers.

Job Description

Bookkeepers record income and outflow of money, property and other financial assets. The most important bookkeeper duty is to accurately record and review all financial data. To excel at this job, you must pay close attention to details and be very accurate when recording numerical data. Your job will also require you to be ethical and to maintain the confidentiality of a client’s financial records.

Most bookkeepers now manage financial information electronically, such as employee payroll. This might require that you master the use of spreadsheets, databases or specialized computer software. Bookkeepers also write or print financial reports. Some bookkeepers handle bank deposits, track purchasing, submit bills for a client’s accounts receivables or prepare files for federal and local taxes.

Why Work As Bookkeeper?

There are thousands of companies , businessman, individuals, and businesses who are looking of good and well experience bookkeeper that can do manage their book of accounts and financial transactions. Working at home as freelance bookkeeper is a great job where you can earn thousands of dollars per month I mean $1000’s or paid per hours at rate of $5-$50. Their are many benefits of working as freelance bookkeeper as state in the next paragraph.

First, the benefits of no longer need to travel going work to office because in freelance job you can work at your home even at your bed. Second, the benefits of flexible work time and fast pay. Fast pay likely paid per projects, paid per week, paid per output, and other type payments that is way faster than office base work. Having PayPal account is the fastest way to get paid. Third, the benefits of easy communications at your fingerprint without anyone will be looking or listening except your kids though. Fourth, the benefits of bigger income as long as you do best in your work. Fifth, being always with your wife, children, and family. Lastly,  escaping from traffic, noise and air pollution.

Industry

Bookkeepers currently work in many industries. In 2016, the financial industry accounted for 12 percent of all bookkeepers. These jobs were mostly with tax preparation services, payroll and general accounting. The next largest segment worked in retail services, approximately 10 percent. Other industries that employed bookkeepers at less than 10 percent each were healthcare, wholesale and insurance. Bookkeepers also work independently as freelancers or as a small business.

Years of Experience

Full-time experience is the main factor in salary increases for bookkeepers. Seniority in a company can lead to career advancement and supervisory responsibilities that come with a salary increase. One projection looks like this:

  •  1-2 years: $37,846-$40,775
  • 3-4 years: $39,648-$42,422
  • 5-6 years: $40,775-$43,618
  • 7-20 or more years: $41,151-$43,992  

Top and Best Freelance Websites to Apply as Bookkeeper

Upwork

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Upwork, formerly Elance-oDesk, is a global freelancing platform where businesses and independent professionals connect and collaborate remotely. In 2015, Elance-oDesk was rebranded as Upwork. It is based in Mountain View and San Francisco, California. The full name is Upwork Global Inc. Grow your business through the top freelancing website. Hire talent nearby or worldwide.

You can find work at Upwork for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, social media campaigner, website designer, writer, research writer, costumer support, and many more.

Freelance

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Find & hire top freelancers, web developers & designers inexpensively. World’s largest marketplace of 31 million applicants. Getting started is free. Receive quotes in seconds. The Upwork story begins over a decade ago, when the tech lead of a Silicon Valley startup realized his close friend in Athens would be perfect for a web project. The team agreed he was the best choice, but were concerned about working with someone halfway around the globe. If you want to work as freelancer or looking for a new work from home job you are welcome here to apply. Register and create an account now.

You can find work at Freelance for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, costumer support, and many more. There are multiple project base jobs available at freelance.com.

Guru

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Guru makes it simpler to hire freelancers online from over 3 million professionals and get freelance jobs from thousands of projects posted on its freelancing. The best place for employers and freelancers to connect, collaborate, and get work done. If you want to work as freelancer or looking for a new work from home job you are welcome here to apply. Register and create an account now.

You can find work at Guru for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, social media consultant, website designer, virtual assistant, costumer support, and many more.

Outsource

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Outsource.com lets you hire, manage and pay your freelancers in just a click. You can send messages, files, and make payments all through the website. It is hassle-free! Are a customer-centric professional service company. A few of the services we provide are IT consultations, customized web solutions, mobile development, cloud development, systems integration, server management. If you want to work as freelancer or looking for a new work from home job you are welcome here to apply. Register and create an account now.

You can find work at Outsource for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, IT expert, social media consultant, costumer support, and many more.

Outsourcely

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Outsourcely is a virtual assistant company based in Foresthill, CA. They make it easy to connect with virtual assistants through their platform. Outsourcely connects startups and businesses with talented remote workers from around the world. 400000+ Remote Workers. If you want to work as freelance bookkeeper or looking for any new work from home job you are welcome here to apply. Register and create an account now.

You can find work at Outsourcely for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, costumer support, and many more.

Onlinejobs.ph

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World’s largest and safest marketplace for finding rock star Filipino workers. OnlineJobs.ph has the largest database of Filipino virtual workers: more than 250,000 profiles and 10,000+ Filipino join each month. OnlineJobs.ph is just the marketplace. You recruit and hire on your terms. If you want to work as freelancer or looking for a new work from home job you are welcome here to apply. Register and create an account now.

You can find work at onlinejobs.ph for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, costumer support, and many more. 

Toptal

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Toptal is a freelancing platform that connects businesses with software engineers, designers, and business consultants globally. Toptal enables start-ups, businesses, and organizations to hire freelancers from a growing network of top talent in the world. Hire the Top 3% of Freelance Talent. Find quality talent to work full-time. Toptal is an exclusive network of the top freelance software developers, designers, finance experts, and project managers in the world. Top companies rely on Toptal freelancers for their most important projects.

You can find work at Toptal for almost all kind of professional and career jobs like bookkeeper, accounting, financial analyst, website developer, engineering, WordPress developer, tax consultant, business consultant, virtual assistant, costumer support, and many more. Toptal is one of best and finest freelance websites but very difficult to be a member.

Working as a bookkeeper of a company or to an individual requires experience and college graduate of any accounting course, bookkeeper course, and finance course. Having a license in bookkeeping or certified public accountant is a great advantage of landing a high paying bookkeeping job.

I hope you all become successful on your endeavor of looking freelance bookkeeper job and got many projects as possible and earned thousand of dollars working. I hope you follow Mark Live Daily by registering you email address at the left side and same please share this article. Good luck!

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Consolidated Financial Statements

What is Financial Statement?

The word consolidated financial statement is common in accounting, business, and finance world industry but not on the layman or common person. So, what is consolidated financial statement? But before we will answer that question let us understand first what is financial statements? We can’t understand, talk and discuss consolidated financial statements without first talking and knowing the word financial statement because naturally and generally they are similar only the scope, purpose or form differs but you should not confuse and mixed the two.

Financial statements are an official record of the financial activities and positions of the business, companies, entity, individual, and even the government institutions. Relevant financial data and information is presented in a well-structured manner and in a form easy to understand even by the ordinary readers of the financial statements. The users and beneficiaries of the financial statements are not only limited to owners, investors, and stockholders but also includes the government, employees, unions, creditors, debtors, banks, and credit institutions. They use the information’s written in the financial statements to assess how the company are performing in terms of managing the business whether it losing or gaining profit and can continue its operations. The three basic financial statements are balance sheet (statement of financial position), income statement (statement of financial performance or profit and loss, cash flows (statement of cash flows), and statement of retained earnings. The usual information that can be seen in financial statements are cash, accounts receivables, accounts payable, retained earnings, share capital, sales revenue, expenses, cost of sales, net income, and tax expense. It is very important that any companies or business should have financial statements as it is a minimum requirement, this is where the vital information of the financial activities of the company shown, and it is the documents that banks ask if the companies files for bank loan.

Below three image illustrations are the sample of Consolidated Financial Statements. These three images below are the three major example of Consolidated Financial Statements. Credit to Al Jaeera Steel Products Company SAOG.

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What is Consolidated Financial Statement and How it is Related to Financial Statement?

Consolidated financial statements are the financial statements of a group of companies in which their assets, liabilities, equities, sales, expenses, incomes, and cash flow activities of the parent company and its multiple subsidiary are presented as those of a one single economic entity per IAS 27 (International Accounting Standard 27) and IFRS 10 (International Financial Reporting Standard 10) requirements. Simply to say consolidated of financial statement is a combination of different financial statements of the parent company and its subsidiaries inputted as one with doing some eliminations as necessary to avoid double recognition of same inter-company transactions. In preparing consolidated financial statement there are two basic procedures to be followed. First, you need to cancel out all the entered items that are accounted as assets in one company and liabilities in another company then add together all uncancelled items this activity called inter-company reconciling items.

The relationship and similarities of financial statements and consolidated financial statements were they have both balance sheet (statement of financial position), income statement (statement of financial performance or profit and loss), cash flows (statement of cash flows), and statement of retained earnings. They presented almost the same with the financial statements but will differ naturally the figures because consolidated financial statement is the combination of all financial statements of parent company and its subsidiaries while financial statements may either just a financial statement of one subsidiary or the parent company without yet the input of the other. Simply to say financial statements is financial information activities of one company while consolidated financial statement is the combined financial information activities of multiple companies combined as one single entity.

Z-Score Reports of Al Jazeera Steel Products Company on Credit Worthiness

Al Jazeera Steel Products Company SAOG was established on Jun 27, 1996 which mostly deal in manufacturing business of different types of structural and steel tube products in the middle east countries. They also exported their manufactured products to twenty-five major western countries, including USA, Canada, Mexico, Australia, Germany, and other EU countries. The company also imported their products on major Asian countries like Indonesia, China, and Malaysia. The company also sold and manufactures like electric resistance welded products, angle bars, rounds bars, and deformed bars, bar mill products for the constructions of buildings. Al Jazeera Steel manufactured products are used in various application like building constructions, building housing projects, bridges, canal irrigation, agricultural infrastructures, engineering, public health, public highways, toll bridges and public roads, scaffolding tubes, fencing and boring, steams and gas, firefighting equipment, water and sanitation pipes, civil and industrial engineering, mechanical engineering, and building structures.

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In the past several years the mills manufacturing plant has become one of the leading tubing manufacturer plants in the Middle East region and also made the company Al Jazeera Steel Products Company SAOG one of the leading players on steel manufacturing. Al Jazeera company also offers tubulars products in both black and galvanized conforming to major International specifications industry standards. Al Jazeera Steel Product is primarily based in Sultanate of Oman. Al Jazeera Steel Products Company SAOG is one of the subsidiaries of Global Buyout Fund LP a Kuwait base pipe manufacturing company. Al Jazeera Steel Products Company SAOG is listed at Muscat Securities Market at Muscat, Oman, Sultanate of Oman on January 6, 2003 which they belong on as Industrial Index industry sector category.

As shown in the illustration table above for Z-score of Al Jazeera Steel Products Company SAOG from year 2013-2017 it is very evident and clear that Al Jazeera Steel Products Company SAOG have a very good credit worthiness outstanding from year 2015-2017. Year 2015-2017 Al Jazeera Steel Products Company SAOG have above 3-point Z-score which means the company will be less likely enter bankruptcy and in good financial condition while for year 2013-2014 the same have good Z-score of above 2 which lie on safe range because Z-score of below 1.8 are in bad financial condition. Al Jazeera Steel Products Company SAOG have best financial health status, good credit worthiness status, high revenue, good net income earned per year, paid dividends well, the stock market price are very fair and good. Al Jazeera Steel Products is a good company for the investors to make their investment buy its stocks traded on Muscat Securities Market and will get a good return on investments. Their Z-score have gradually increase per year to year basis from 2013 to 2017.

Image result for Al Jazeera Steel Products Company

Yes Z-score is the appropriate tool or useful data for the investors to determine the company credit worthiness and if it is good to invest in the company. The Z-Score that computed on the combination of five very important financial ratios in financial statement analysis that can help the investors to determine if their investment made to the company are right. The important message from the study computation made on Z-score analysis is to mainly avoid companies with Z-score of less than 1 point unless the investors have a very good reason to buy it like making the company more competitive by heavy investing and complete overtures. There are many bankrupt companies that are been bought even though their Z-score is very small way below 1 point because of market share or the technology and management value. The investor can use the Z-score results in investment analysis as an early warning signal. Should the Z-score computation results be less than three points it needs further analysis using other financial ratios and other important data thus need more investigations. A Z-score of lower than 1.8 point, in particular, indicates that the company is heading for bankruptcy or have financial difficulties. Company with scores more than 3 points are unlikely to enter into bankruptcy and have a very good financial health status. Scores within range of 1.8 and 3 points lie in a gray area which indicate they are not in bad shape nor in good shape this need further assessments. This Z-score ratio is a good test for corporate distress and corporate performance. So, this Z-score will be one of the basis or indication for investors to determine if the company is on the road of bankruptcy and whether the investors will invest their funds to the company.

4 Common Mistakes to Avoid When Seeking Funding For Startup

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Seeking financing for your startup is one of the most daunting tasks faced by budding entrepreneurs. The world is littered with examples of failed startups. Most of the times, the root cause of this is one thing: Money. If you are about to embark on the self-rewarding journey of setting up your own startup, learn the lesson by not making the following same mistakes made by countless before you.

  1. Inadequate Market Research: You have an idea for a product or service which you think is brilliant and will be a game changer. Most of the times, startups are too attached with their idea, understandably so since it is their baby. However, before embarking on this journey make do these things:
  • Research if there is even a market for the product.
  • Not understanding the need of the customers. Your product needs to solve problems of people.
  • Do small market test runs with product to guide product development the right way.
  1. Giving Up Too Much Control: In the initial days when despite so many efforts, startups see no money tickling their way, they tend to get desperate. Most of the investors in early stages of finance want to have a stake in the equity of the company in return for their money.

Startup needs to realize that they will need investing in more than one stage thus it is important not to give too much equity in the beginning. Giving up too much control can end up making you a minority shareholder later on.

  1. Raising Too Much or Too Little Money: Too much or too little of anything is never good. It is important to understand exactly how much capital you are going to need at every stage of your startup by doing thorough valuation and analysis.
  • Having too much does give you some cushion, but money does not come free. With too much money at hand, you might be tempted to make decisions for which the startup is not ready.
  • Some startups play it safe by asking for too little money. This can also be a recipe for disaster, as you will run out of money soon. And will need to go through the entire process again, letting the investors know that you did not plan right.
  1. Targeting the Wrong Investors: Do not waste your time trying to get investment from a firm who has no history of lending to your industry or for startup financing. Or going to an investor who already has an investment in your competitor. Try to get investors, who also bring something to the table other than just money, it can be in the form of recruitment or product development or simple mentoring.

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What Causes Financial Crises?

Accounting Management Finance Marketing Business Concept
Accounting Management Finance Marketing Business Concept

One of the great ironies of the 2008 financial crisis is that it was sparked by a product created from a historically safe investment asset: residential mortgages. In the past quarter century, delinquency rates of single-family home mortgages hovered below 3% for the most part except for the time around the Great Recession, according to the Federal Reserve Bank of St. Louis. Then Wall Street bundled mortgages of various qualities into complex, opaque securities to be bought and sold, often using debt to turbo-charge the investment. When defaults began on Main Street, the tremors reached all the way around the world.

Today, the financial crisis seems like a footnote in history. But like other crises, it has sparked a period of soul-searching. What signs that a crisis was brewing did experts and regulators miss? Why didn’t regulatory reforms in the past prevent it? How could regulators stop another crisis from happening? What are the lessons from this and other meltdowns? These and other questions were the focus of a panel at the “Financial Markets, Volatility, and Crises: A Decade Later” conference held recently in New York by Wharton’s Jacobs Levy Equity Management Center for Quantitative Financial Research.

While this year is generally acknowledged to be the 10th anniversary of the crisis, in actuality there is “no real consensus about when it all began,” said Wharton finance professor Richard Herring, who moderated the panel. Some point to 2006 as the start, when home prices peaked, while others think it began with the 2007 collapse of two Bear Stearns hedge funds that bet heavily on subprime mortgages. Perhaps it was when BNP Paribas froze withdrawalsfrom $2.2 billion worth of funds in the same year. Still others have argued that “it was manageable until the Lehman … orderly liquidation,” Herring said. That was the start.

Whenever the crisis actually began, panelists said that it bore similarities to other Wall Street meltdowns of the past, such as the 1987 market crash and the 1998 collapse of the hedge fund Long-Term Capital Management. Time and again, the chase for a higher investment return, the creation of new, complex securities, the relative inexperience of young traders, the popularity of a new theory to make money and lagging regulations have brought the financial system to the brink.

Free Lunches and the Illusion of Safety

Bruce Jacobs, principal and co-founder of Jacobs Levy Equity Management, said that while the 1987 crash, Long-Term Capital Management and the 2008 credit crisis were different events, they had similarities. “The common theme is that the strategies promised to make investing safe,” he said. “There is an expectation of protection and safety and at the same time they were sold on the basis of higher returns. They become irresistible.” But these “free lunch strategies” later backfired.

In the 1980s, belief in a trading strategy called portfolio insurance was supposed to take out risk. The strategy called for hedging against market downturns by short-selling stock index futures. Jacobs quoted Nobel laureate Robert Merton — who co-created the famed Black-Scholes-Merton calculation to determine fair pricing for options — as saying that if one literally traded continuously, all the risk would disappear because it is being shifted to someone else all the time. But practically speaking, Jacobs said, one can’t trade continuously in practice.

Portfolio insurance also can fail. “We all know what happened in 1987 — there was a major [stock market] crash, the largest one-day decline in the history of the U.S. markets, greater than the decline in 1929,” Jacobs said. It’s fine to shift risk to someone else, providing there are “counterparties on the other side willing to buy,” he said. But as many investors tried to shift risk at the same time, they could not find enough folks to take it off their hands. “The buyers were not there,” he said. “The markets became fragile. And the decline was over 20%.”