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Is it possible to get a decent wage out of freelance bookkeeper / administrator / virtual pa job?

8 replies

kk721 · 05/04/2023 09:52

Hi,

I've been looking for a hybrid bookkeeper/admin employment but unfortunately struggling to find anything suitable on a permanent contract. I'm now considering starting my own self-employed / freelance admin/bookkeeper/pa business with a view to do casual work for local businesses.
As I have two kiddies I need to be able to secure at least £1500 a month and I was wondering whether it's at all possible to earn that much from being self employed. Has anyone done something similar and would be able to give advice? Just not sure if I should keep looking for employment or go solo. Many thanks

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iwannascream · 05/04/2023 10:13

Have you checked out the price of insurances that you will need to have in place before you make a decision.

Quisquam · 05/04/2023 10:16

I have known bookkeepers earning that much in London.

Depends where you live as well?

kk721 · 05/04/2023 10:18

Hi, yes I have. I'm trying to weigh up all the costs and potential income before I commit to anything. Costs is the easy part to eastimate. It's the income that I'm not sure about.

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Kazzyhoward · 05/04/2023 10:20

Unfortunately, now that so much can be done via online/phone apps, an awful lot of sole traders etc are doing their "books" themselves supported by their accountant, especially with automatic bank feeds, online invoicing, online credit card payment, etc. There really is very little need for the "traditional" book-keeper anymore for the smallest of businesses.

Bigger businesses usually have their own in house book-keeper/admin.

So, your "market" is really either sole traders who can't be bothered to do it themselves, or that "gap" between the sole traders and larger small businesses, i.e. those with maybe 2/3 employees where the owner maybe too busy to do it themselves, but, for those, they'd probably want someone to do their payroll too.

Rather than basic book-keeping/admin, I'd say the real market is payroll, VAT and CIS returns, which is where things get complicated and a small business owner can't really do them themselves as they don't have the time/inclination to learn the rules, procedures, etc.

So, if anything, I'd suggest you set up as a freelancer doing payroll, VAT and CIS, but obviously, you'd need experience and knowledge to provide those services, and preferably a payroll/book-keeping qualification.

kk721 · 05/04/2023 10:21

Quisquam · 05/04/2023 10:16

I have known bookkeepers earning that much in London.

Depends where you live as well?

Thank you for your reply. That's a very good point. London is clearly a totally different market Confused I'm in rural Lincolnshire

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Knullrufs · 05/04/2023 10:34

A friend of mine makes a decent living as a VA (virtual assistant). Not a fortune but enough to get a mortgage on his own on a two-bedroom flat in central Brighton. He's effectively full-time PA for an entrepreneur and basically manages her entire diary, plus travel admin and associated bits and bobs. It's pretty intensive at times I think; she's pretty demanding (reasonably so I think) and he certainly earns his wage. They've worked together for over five years and have never met in person!

He started out on one of the VA/PA platforms (TimeEtc, Pink Spaghetti, VirtualPA, Society of VAs, Virtalent etc) and built out a network from there.

Emmav2020 · 19/11/2023 21:19

Hi. Bit late on this chat but did you end up going self employed? I'm looking at training as a bookkeeper and wondering how your getting on? Thanks x

kk721 · 19/11/2023 21:49

Hi, sorry it's not going to be very helpful, I haven't actually, not yet. It's something I'd like to do in the future but in the meantime I'm in the process of completing my accounting diploma. I'll probably feel more confident to go self employed then.

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