Who is a freelance accountant? Can accounting work be done remotely? Are there any Freelance Accountants? How to be a Freelance Accountant?
Stepping out of a regular 9 to 5 job to a freelancer is found to be trendy these days. Freelancers can work remotely and have the freedom to create their schedules and have more control over their careers. The most exciting fact is that freelancing is not just limited to a certain type of career, but it plays a crucial role in accounting firms also.
A freelance accountant is an individual who provides accounting and financial services to clients on a contract or project basis. They can perform a variety of tasks, including bookkeeping, preparing tax returns, creating financial reports, and offering financial advice etc.
The demand for freelance accounting is rising in popularity. Today there are different freelance work platforms like Upwork, Fiverr, remote, and so on, where people work remotely to offer services to different clients or businesses.
How to be a Freelance Accountant?
Becoming a freelance accountant can be a lucrative and rewarding career choice. As a freelance accountant, you have the freedom to work with multiple clients, set your schedule, and work from anywhere with a reliable internet connection.
Have an Accounting Degree
The first and foremost step to becoming a freelancer would be attaining a degree or certification in the field of accounting. It will provide you with the knowledge and skills needed to perform various accounting works, such as preparing financial statements, bookkeeping, and tax preparation. Some popular accounting certifications include Certified Public Accountant (CPA), Chartered Accountant (CA), and Certified Management Accountant (CMA).
Achieve Work Experience
To gain expertise in the field of accounting, one does require to gain some work experience related to the subject. This helps in giving a deeper understanding of concepts and procedures and can form many network connections that can be relied on in the future. Work Experience can be obtained through certain internships and part-time jobs as well as assisting senior accountants can help gain knowledge.
Build a Professional Network
Networking is an important aspect of building a successful freelance accounting career. By attending industry events, joining professional organizations, and connecting with other freelance accountants, one can build an effective business network. Moreover, it helps you build a network of contacts that can refer clients to you, provide advice, and offer support.
Developing a Strong Online Presence
For a freelancer, the only exposure they get is through online mediums. In this digital era, creating a website that showcases your skills, works, and certificates is crucial to get clients. Freelancers advertise their talent through different social media platforms, like LinkedIn, to connect with people whom they are likely to hire.
High-Quality Services
Providing high-quality services to clients is an essential requirement for freelancers, as it is the only way in which they get to experience as well as excel in their field. With the right networking and online presence, they get to offer their services to clients from all over the world. This would help to get a reputation and attract businesses.
Stay Updated with the Trends
To be a successful Freelancer Accountant, one has to stay up-to-date with all the changing accounting regulations happening in the industries. It can be done through attending workshops, seminars, and conferences to enhance more knowledge on the matter to provide the best service to the client.
Benefits of Being a Freelance Accountant
Freelance accounting provides one to work from anywhere they choose to work from at any time, which allows a greater level of freedom and helps to maintain a work-life balance. Liberty to choose their clients is considered to be a greater advantage, enabling them to work with businesses that are passionate about and align values. Freelancers can often charge higher rates than their counterparts in traditional employment, potentially leading to higher earnings.
Exposure to different ranks of clients, industry, and businesses help these accountants to expand their skill sets and help them to stay on industry trends. Many freelance accounting relationships can turn into long-term partnerships, leading to a steady stream of work and income. The budget of Freelance accountants is limited to a certain level. There’s a chance of increased profit margin, as the clients prefer freelancers rather than traditional accounting.
Comparison between a Regular Accountant and a Freelance Accountant
There are some key differences between a regular and a freelance accountant though they do the same accounting services to businesses.
Employment
A regular accountant is typically employed by a company or an accounting firm, while a freelance accountant is self-employed and works as an independent contractor.
Work Atmosphere
A regular accountant works in a structured office environment with regular working hours and colleagues, while a freelance accountant may work from a home office and have a more flexible schedule which may result in a good work-life balance.
Client Base
Regular accountants may work with a small or large number of clients, but they typically have a limited client base within their employer’s business network. On the other hand, a freelance accountant may work with a wider range of clients, including individuals, small businesses, and larger corporations.
Services Provided
Regular accountants may offer a more limited range of services, as their expertise is often focused on the specific needs of their employer or clients. Freelance accountants, on the other side, can offer a wider range of services as they are not limited to a specific employer’s needs.
Budget
Freelance accountants typically charge by the hour or project, and their fees may be higher than those of regular accountants. However, clients may save money by only paying for the services they need rather than incurring the overhead costs of a full-time accountant.
Flexibility
Freelance accountants offer more flexibility in terms of the services they offer and their availability, as they are not tied to a specific employer or schedule. Regular accountants may have more stability and a guaranteed income but less flexibility.
Accounting is a field that is well-fitted for freelancing. Many businesses rely on freelancing accounting rather than hiring regular accountants to finish their work in a short period. Freelance work comes with some breakthroughs like you do not have to leave your comfort zone and can work at any time and anywhere, providing a strong network connection. Collaborating with different clients expands the skills and handling of software which are much needed for freelancers. Are there only freelance platforms to provide freelance work?
No! SpotGiraffe is here to provide you with several freelance accounting jobs around you, which enable you to choose from several companies of your choice and needs. SpotGiraffe is a job portal exclusively for accounting and finance jobs for accounting aspirants out there. Register today for your desired freelance work and work at your pace.