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Unlike certified public accountants, bookkeepers don’t file tax returns or audit financial statements. On the 5 Minute Bookkeeping Instagram, you’ll find bookkeeping inspiration and tips throughout the week.On Bench's Website How a Bookkeeper Is Different Than an Accountant Check out the 5 Minute Bookkeeping YouTube channel for my library of tutorials and new videos every two weeks. Join the 5 Minute Bookkeeping Community on Facebook to connect with fellow bookkeepers, where you can ask questions and share your journey. You can also connect with me and get plenty of bookkeeping advice, stories, and resources in my online community.

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If you’re looking for some resources to get started, check out my free Virtual Bookkeeper’s Toolbox or visit the 5MB Academy to see all my free and paid resources. And if you’ve already made some of the same mistakes, that’s more experience under your belt! I hope that by sharing my experiences, I’ve helped you become aware of some of the mistakes you can avoid as you start your bookkeeping business. I’ll need to price that separately and send you a new service agreement.” “That service is not on our service agreement.“Effective December 31, I will no longer be able to provide bookkeeping services to you.”.“I don’t think we’d be a good fit for working together.”.“That’s not a project I’d like to take on right now.”.Now, how do you say no with confidence? You might say something like this: But ultimately, you are running a business and you need to say no to the wrong clients and the wrong opportunities. We all have a desire to help people, and we want to help everyone. It was impossible for me to say, “No, I don’t want to take on your crazy cleanup project.”

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One of the hardest things I had to do as a business owner was learning how to say no. Remember that you deserve to be compensated for your time and talents. There are plenty of clients who want a premium experience and are willing to pay for it. Never project your attitudes about money and value to your clients. That’s when I learned a really big lesson.

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My client won’t pay for that software subscription.” And I kept underpricing my services and making it difficult on myself to serve clients because I didn’t have the right tools.īut I started coming across clients who were more concerned about what I could do and how I could solve their accounting problems and less concerned about money. I used to tell myself, “My client won’t pay for that service. My scarcity mindset also extended to my pricing. I would take on the most complicated projects, difficult clients who didn’t appreciate what I did… and in some cases didn’t even pay me. But when I first started my bookkeeping business, I took on any clients for absolutely anything they needed.

I really should have turned around and gone home, but I didn’t, and I was really sorry that I didn’t. Yes, instead of a receptionist, a goat and a chicken received me when I got out of the truck.

It was really a garage, and it was located down a very long, muddy dirt road. I remember going to a client’s office – or so I thought. The second biggest mistake that I have made is having a scarcity mindset. Doing the diagnostic review puts me in control and sets the tone for the entire relationship. Here’s the strategy that I use: I always do a paid diagnostic review to assess my client’s books so that I can determine what’s wrong with the books and give them my report of findings and recommendations. I don’t allow any clients to dictate to me how, when or where I will provide services to them.

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I am not a contractor, I’m not an employee I’m a professional and a business owner, and I’m in control. It wasn’t long before I realized that they were trying to treat me as their employee, and I learned some very important lessons.

I had to sit there and wait even if there was nobody there. When I started, I had a client who insisted that I go to their office once a week, regardless of whether there was any work for me to do. The employee mentality is the first mistake you’re likely to commit if you’re coming into this journey from any type of job where you were not your own boss. Let’s go over these errors and talk about how to avoid them. I’ve struggled with many of the things that you’re probably struggling with right now in your own bookkeeping business. Truth be told, I have made my share mistakes while building my bookkeeping business.