There are not too many people who were thrilled with being out of work during the worst unemployment crisis America had experienced for many years. While some were content to sit at home collecting unemployment while they could, others made plans so they would not find themselves in the same situation five years ahead. Many controllers, accountants and bookkeepers found themselves planning on opening their own bookkeeping services. And they learned the value of opening a bookkeeping merchant account.
If a person has bookkeeping knowledge, beginning a bookkeeping service is a great idea. Even if the person does find another full-time job, it can be converted to part-time work. However, the individual who really wants to make a go of it has a lot of positives on his or her side. If there is a spare bedroom or office at home, it can be set up exclusively for the service. Some states and localities require permits and licenses, but this can be researched. By using a dedicated room as an office, you are able to take this as a year-end tax deduction.
Once you have your space you need a very good computer, printer, scanner and fax machine. Some of the larger box stores sell a three-in-one printer/scanner/fax at reasonable prices. You also have to decide which bookkeeping software you want to use. Add a few office supplies and you are ready for your first client. Don’t forget to order business cards. These can be supplied for as little as $10. And, you need your bookkeeping merchant account.
You will need to market your service. It would be to your advantage to have a one page flyer made up which gives your years of experience handling certain areas in bookkeeping and also listing the jobs you can handle. There are thousands of small businesses that need bookkeeping but cannot afford or need a fulltime bookkeeper. By outsourcing that portion of the administration of the business, the entrepreneur has more time to concentrate on making money. To a person intent on making sales, bookkeeping is tedious and boring.
A fledgling company should also watch the help wanted ads to search for businesses looking for a part-time bookkeeper. This is an ideal way to gain more clients. And as a marketing note, you would rather have 10 clients paying you $100 a month than one client paying $1,000. This way if you lose a customer you have not lost all your income.
Any bookkeeper knows that the trickiest part of any business is collecting what is due. If a business relies solely on hard copy checks the story is always ‘the check is in the mail.’ This is why it is important to open a bookkeeping merchant account as soon as possible. This way clients have additional ways to pay, and you could even get an account that has the ability for recurring billing. Your clients are billed on their credit cards for your fees at the beginning of each month. You do not have to worry about the billing and the money is in your checking account the next business day. When a bookkeeper has a bookkeeping merchant account, he has expanded payment options and the possibility for many more clients.
A bookkeeping merchant account is not difficult to open. There are no application fees and many times no set up fees. The bookkeeping service is not even required to have its own Visa and MasterCard registration. Plus, the account can be approved within 24 hours.
Click below today to be approved for a Bookkeeping Merchant Account!