How to Become a Freelance Accountant: 7 Tips to Succeed

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Intro:

The Bureau of Labor Statistics anticipates that the demand for accountants will increase through 2031. In 2021, the field employed just under 1.5 million professionals, including auditors.

Accountants work in corporate and public environments. They offer an array of services, such as:

  • Tax preparation
  • Account reconciliation
  • Payroll
  • Cash flow management
  • Ledger and bookkeeping
  • Statement preparation

Most professionals work for a firm. The BLS doesn’t differentiate between freelancers and employees in this field. However, opening your own firm is a realistic goal.

You can gain additional insight into becoming a freelance accountant by checking out Gigly.

Every entrepreneur who wants to branch out and run a firm benefits from obtaining a few tips.

If you want to learn how to become a freelance accountant, we offer seven tips to succeed.

1. Fulfill Licensing Requirements

The United States Government regulates financial jobs. Therefore, most professionals must obtain the proper licenses before they start serving clients.

Since the accounting field has several career paths, the right licenses and certifications will depend on your choice. Some popular options include:

  • Certified public accountant
  • Certified management accountant
  • Chartered financial analyst

To receive your licenses and certifications, you must complete the requisite education and pass a series of exams. The goal is to ensure that individuals have enough knowledge to appropriately guide clients.

In corporate settings, accountants must keep finances transparent, despite pressure to make them look otherwise – a temptation that some cannot turn down.

Accountants earn an average salary of $78,000. Thus, there’s sizable income on the line.

2. Gain Experience

Most professionals benefit from gaining experience before diving into freelancing. Working an entry-level job in this field is challenging and well-compensated.

More importantly, you’ll learn from the veterans and see how they handle tricky situations. Working under a mentor during the first years after college is a great time to soak up as much information as possible.

3. Develop a Client Roster

Once you branch out into your own firm, you’ll need to develop a client roster. The good news is that plenty of opportunities exist to find them. For example, most people must file their taxes.

Even though some have started using software to file, others still prefer to work with an accountant. Moreover, some taxes are more difficult to file. Therefore, clients require the services of professionals.

4. Market Your Services

To develop your client roster, market your services. Initially, it’s unnecessary to sink a lot of money into rolling out a marketing plan. Solopreneurs can take advantage of several online marketing strategies, such as:

  • Website development
  • Search engine optimization, including Local SEO
  • Social media
  • Targeted ads
  • Tutorials

If you establish an office, hang signage that announces your services. As your client roster grows, you can scale your marketing efforts to include billboard, park bench, and television advertising.

5. Incorporate Technology

Most of your clients use technology to organize their finances. Therefore, accountants should use it too. The difference is that you’re using software to optimize your services.

Then, your clients also receive the human touch.

Your business operations benefit from incorporating hardware, such as desktop computers, laptops, and smartphones. The days of storing files and stacks of paper in filing cabinets are almost gone.

Today, you can keep track of your clients’ files through digital means, which are space savers.

6. Follow the Trends

One reason it’s wise to incorporate technology is that it allows you to integreate the trends. Every year, the United States government releases new rules and regulations for the financial industry.

Professionals must integrate them for clients quickly. Otherwise, they might miss out on valuable tax deductions. In other cases, they might break the law. Therefore, accountants become responsible for leading their clients in the right direction.

7. Optimize Your Time

Those who become CPAs will experience seasonality. You’ll hardly sleep during tax season and look for things to do when it wanes.

Freelancers must pounce when the opportunity to work is available. Some Airbnb hosts earn enough income during the Holiday season to carry them through the rest of the year.

CPAs can do the same during tax season. Thus, successful accountants know how to optimize their time.

 

Conclusion

Accountants will remain in demand for the foreseeable future. Therefore, you can branch out and become a freelancer. To succeed as a financial professional, start by obtaining the necessary credentials. Then, you can focus on marketing to grow your client roster and stay on top of the trends.