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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What is Business Plan?

business plan according to Wikipedia is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame that these goals need to be achieved. It also describes the nature of the business, includes background information on the organization, the organization’s financial projections, and the strategies it intends to implement to achieve stated targets. In its entirety, this document serves as a road map that provides direction to the business.

Business plans are inherently strategic. You start here, today, with certain resources and abilities. You want to get to a there, a point in the future (usually three to five years out) at which time your business will have a different set of resources and abilities as well as greater profitability and increased assets. Your plan shows how you will get from here to there.

Business plan is very useful to an individual, partners, groups, and corporations that plan to grow their company to the higher level. Business also definitely very important to the business start up who just plan set up business and create a company. Business plan will be their guide, foundations, and necessity to get findings from the third parties like banks and  creditors.

Business plan writing can be a great source of income.

Why do we need a business plan for our business?

1. A business plan is vital to helping you get finance from investors, stockholders, creditors, and banks.

If you’re seeking finance for your business, you’ll need to show banks and investors why they should invest in your business.

Lenders and investors will only risk their time and money if they’re confident that your business will be successful and profitable.

A thorough and well-researched business plan:

  • shows that you’re serious about your business
  • helps lenders and investors to understand your business idea
  • shows your predicted profits and income streams.

2. A business plan can help you priorities things accordingly and give you a guide on how to accomplish it.

A complete, thoughtful business plan is one of the most valuable tools in helping you reach your long-term goals. It gives your business direction, defines your objectives, maps out strategies to achieve your goals and helps you to manage possible bumps in the road.

Preparing a business plan will help you work out the goals you want to achieve, and the strategies to achieve them. This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin.

Once you’ve got a business plan in place, it’s a good idea to regularly review and update it to:

  • remind yourself of your goals and priorities
  • assess whether your strategies are working
  • adapt to any new changes in your environment
  • make the most of new opportunities as they come your way.

3. A business plan can give you control over your business, resources and your finances.

The planning process helps you learn about the different forces and factors that may affect your success. If you’re already in business, it helps you to step back and look at what’s working and what you can improve on. Instead of worrying about the future, a business plan helps to give you a sense of control over your business and your livelihood.

Writing and researching for your business plan gives you the chance to:

  • learn about your industry, market and competitors
  • write down exactly where you are in the market and where you’re headed
  • identify challenges you may come across and work out strategies to avoid or overcome them
  • understand your business finances, including managing cash-flow and determining your break-even point
  • set specific goals, timeframes for achieving them and how you’ll measure performance
  • make sound business decisions that focus your activities, maximise your resources and give you a competitive edge.

4. A business plan can help you set your business goals, revenue growth, and future expansion.

When talking about business plan it really helps guide you to achieve your business goals, set your revenue and profit grow faster, achieve your target financial performance, and help you with your business future expansion. Business plan is vital to the business that already been established and same vital to the business start-up.

A business plan is not a document you create once and store in your bottom drawer. It’s a living guide that you should develop as your business grows and changes. Successful businesses review and update their business plan when circumstances change.

Set yourself a reminder to review your business plan regularly. If you have a team in your business, holding brainstorming sessions is a good way to benefit from their knowledge – it ensures you’re all on the same page and that you get their support.

You don’t have to start with a blank sheet of paper

To write an effective business plan you’ll need discipline, resources, time and focus. Although the process can seem challenging, it’s very rewarding and gives you a sense of control over your business.

You don’t have to start with a blank sheet of paper. There are many website that offers business plan guide and template where you can used their business plan services in guiding you and helping you building up the business plan for your business. List below are the best business plan guide and template provider where you can access them online anytime and anywhere you want.

LivePlan

LivePlan is straightforward, easy-to-use business plan creation software that walks you through each step of the writing process. This web-based program is great for business owners looking to create plans for startups, strategic marketing campaigns or funding proposals. LivePlan is also a good option for business owners who aren’t sure what type of business plan they need, because it walks you through the process and proposes templates based on your business’s goals.

BizPlanBuilder

BizPlanBuilder has both a cloud-based and a download option for its business plan-writing software. This software solution has several industry-specific templates you can review and then add to the document editor to create a plan that reflects your own business needs. While you can create a start-up business plan, this program devotes special attention to financials so you are prepared to present your idea to any type of investor, be that a bank, private investor, angel network or venture capitalist and have the data to back it up.

Go Business Plans

Based in Los Angeles, California, Go Business Plans writes business plans that serve a variety of business’s needs, ranging from SBA loans and visa applications to plans seeking venture capital funding. Go Business Plans rated well in terms of the quality of its business plans and its comprehensive feature set, which is why we awarded it our Business.com Gold Award.

Wise Business Plans

Wise Business Plans is a business plan service based out of Las Vegas, Nevada. It writes business plans for businesses seeking venture capital and angel investors as well as businesses interested in applying for SBA loans, E2 visas and L1 visas. The plans are high quality and contain market and industry research drawn from a wide range of sources. Its turnaround times are above average, while the cost is roughly average for the services we reviewed.

Business plan writing can be a great source of revenue to all people who want to render their expertise and services to an individual or companies looking for an expert business plan writers in helping their building up the business plan for their companies. So I advise you should learn and hone your business plan writing skills.

Bookkeeping 101 Part 2 (Accrual Accounting Method)

Accrual Method

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There are two main methods of accounting (or bookkeeping):

  • Accrual method
  • Cash method

The accrual method of accounting is the preferred method because it provides:

  1. a more complete reporting of the company’s assets, liabilities, and stockholders’ equity at the end of an accounting period, and
  2. a more realistic reporting of a company’s revenues, expenses, and net income for a specific time interval such as a month, quarter or year.

As a result, US GAAP requires most corporations to use the accrual method of accounting.

The following table compares the accrual and cash methods of accounting:

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Note: Some small companies may be allowed to use the cash method of accounting and in turn may experience an income tax benefit. Since our website does not provide income tax information, you should seek tax advice from a tax professional or from IRS.gov.

Revenues and Receivables

Under the accrual method, revenues are to be reported in the accounting period in which they are earned (which may be different from the period in which the money is received).

To illustrate the reporting of revenues under the accrual method, let’s assume that the hypothetical business Servco provides a service to a customer on December 27. Servco prepares a sales invoice for the agreed upon amount of $1,000. The invoice is dated December 27 and states that the amount is due in 30 days.

Under the accrual method, on December 27 Servco:

  • has earned revenue of $1,000, and
  • has earned a receivable of $1,000.

If Servco uses accounting software to prepare the invoice, the following will be recorded automatically as of December 27:

  • the income statement account Service Revenues will be increased by $1,000, and
  • the asset Accounts Receivable will be increased by $1,000

In addition to updating the general ledger accounts (which are used in preparing the financial statements), the software will update and store the customer’s information for generating an aging of accounts receivable and a statement of each customer’s activity.

Expenses and Payables

Under the accrual method, expenses should be reported on the income statement in the period in which they best match with the revenues. If a cause and effect relationship is not obvious, the expense should be reported on the income statement when the cost is used up or expires. In any event, the payment of cash is not the primary factor for determining the accounting period in which an expense is reported on the income statement.

To illustrate, let’s assume that Servco uses a temporary help agency at a cost of $200 in order to assist in earning revenues on December 27. The invoice from the temp agency is received on December 27, but it will not be paid until January 4.

Under the accrual method, on December 27 Servco:

  • has incurred an expense of $200, and
  • has incurred a liability of $200.

If accounting software is used to record the temp agency invoice, the following will occur automatically as of December 27:

  • the income statement account Temporary Help Expense will be increased by $200, and
  • the liability Accounts Payable will be increased by $200.

When Servco issues its check on January 4:

  • the asset Cash will be decreased by $200, and
  • the liability Accounts Payable will be decreased by $200.

Net Income

If Servco had only the two transactions described above, its net income under the accrual method for the day of December 27 will consist of the following:

  • Earned revenue of $1,000
  • Incurred an expense of $200
  • Earned a net income of $800 ($1,000 of revenues minus $200 of expenses).[The cash method of accounting would have reported a much different picture:
    • No revenue, expense or net income would have been reported on the December income statement.
    • The revenues of $1,000 might be reported in February if the customer paid in 35 days.
    • The expense of $200 will be reported in January when Servco pays the temp agency.]

Obviously, the accrual method does a better job of reporting what occurred on December 27, the date that Servco actually provided the services and incurred the expense.

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.