Small Business Accounting

Small businesses need accurate books but often can't justify a full-time accountant. Freelance accountants and bookkeepers fill this gap—handling invoicing, expense tracking, reconciliation, financial reporting, and tax preparation for multiple clients simultaneously.

For digital nomads with accounting credentials or bookkeeping experience, this is high-value, location-independent work. Modern cloud-based tools like QuickBooks Online, Xero, and FreshBooks make remote bookkeeping seamless. You access client accounts from anywhere, and your work can be done asynchronously. Many accountants serve clients in their home country while living abroad, maintaining relationships via email and scheduled video calls.

Bookkeeping vs. Accounting vs. CFO Services

Service Level	What's Included	Typical Rate	Credentials
Bookkeeping	Transaction entry, reconciliation, basic reports	$30-50/hr or $300-800/mo	None required
Full-service Accounting	Bookkeeping + financial statements, analysis	$50-100/hr or $500-1,500/mo	Experience preferred
Tax Preparation	Return preparation and filing	$200-1,000+ per return	Often licensed
CFO Services	Strategy, forecasting, advisory	$150-300+/hr	CPA/MBA common

Most remote practitioners offer bookkeeping and accounting, partnering with licensed CPAs for tax work.

Cloud Tools That Make It Work

Accounting Platforms:

• QuickBooks Online - dominant for US small businesses
• Xero - popular internationally, growing in US
• FreshBooks - simple, freelancer-focused
• Wave - free, limited features

Add-ons:

• Receipt Bank/Dext - receipt capture and categorization
• Bill.com - accounts payable automation
• Gusto/Justworks - payroll integration
• Google Drive - document storage and sharing

Getting certified in major platforms (QuickBooks ProAdvisor, Xero Advisor) adds credibility and generates referrals from the platforms themselves.

Finding Clients

Freelance Platforms:

• Upwork - wide range of bookkeeping projects
• Toptal - premium finance roles

Professional Networks:

• CPA referrals (they often outsource bookkeeping)
• Small business groups and chambers of commerce
• Industry-specific associations

Direct Marketing:

• LinkedIn outreach to business owners
• Content marketing about financial topics
• Referrals from existing clients

The best source of new clients is referrals from happy existing clients. Focus on excellent service.

Specialization Helps

General bookkeeping is competitive. Specializing differentiates you:

Niche	Why It Works
E-commerce	Inventory, sales tax, marketplace integrations
Restaurants	High volume, tips, food costs
Creative agencies	Project profitability, contractor management
SaaS startups	Metrics investors care about
Real estate	Multiple entities, property accounting
Nonprofits	Fund accounting, grant compliance

Clients pay premium rates for specialists who understand their industry.

Pricing Models

Model	Structure	Best For
Hourly	$30-100+/hr	Irregular work, cleanup projects
Monthly retainer	Fixed monthly fee	Ongoing bookkeeping
Value-based	Priced on business size/complexity	Higher-value clients
Per-transaction	Fee per entry or invoice	High-volume, simple work

Monthly retainers create predictable recurring revenue. Price based on complexity (number of accounts, transaction volume, services included).

Realistic Income Expectations

Client Load	Monthly Income
5-10 small clients	$2,000-4,000
10-20 clients	$4,000-8,000
Full practice (15-25)	$6,000-12,000+
With staff	$10,000-20,000+

Most solo bookkeepers cap around 20-25 clients before needing help. Building a firm with contractors lets you scale beyond personal capacity.

The Nomad Reality

Remote bookkeeping works well for travel:

What works:

• Async work with no required calls
• Cloud tools accessible anywhere
• Monthly recurring deadlines (predictable)
• High trust = long retention

Challenges:

• Some clients expect real-time availability
• Tax season is intense (January-April in US)
• Accuracy is critical—hard to rush
• Need secure internet for financial data

Many traveling bookkeepers maintain US working hours or close-to-it for client availability.

Building a Practice

Phase 1: Get Equipped (1-3 months)

• Get certified in QuickBooks or Xero
• Set up professional systems (contracts, invoicing)
• Create service packages and pricing
• Build a simple website or LinkedIn presence

Phase 2: First Clients (3-6 months)

• Take on 3-5 clients at competitive rates
• Develop efficient workflows
• Collect testimonials
• Identify your niche

Phase 3: Growth (6-12 months)

• Raise rates for new clients
• Refine processes for efficiency
• Add services based on client needs
• Build referral network

What This Pairs Well With

Bookkeeping connects to basic bookkeeping services at the simpler end and small business consulting for strategic work. Virtual assistance can include light bookkeeping for some clients.

Use Notion for practice management and client organization. Google Drive for document storage and client file sharing.

Getting started: If you're not already credentialed, consider bookkeeping certifications from QuickBooks or Xero. Build experience with a few clients at competitive rates. Specialize in an industry (e-commerce, restaurants, creatives) to differentiate yourself. Join professional associations and online communities for referrals. Document your processes to ensure consistency and enable scaling. Consider niching into specific pain points like tax preparation, financial cleanup, or CFO-level advisory.