Are you an accountant looking for a way to earn some extra income outside of your day job? Then it’s time to explore the world of accounting side hustles!
An accounting side hustle is a flexible and lucrative way to use your skills outside of your traditional 9-to-5 job.
With options ranging from freelance bookkeeping services to creating online courses, the possibilities are endless.
Keep reading to learn more about the benefits of starting an accounting side hustle and how you can get started today!
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What Is An Accounting Side Hustle?
A side hustle is a business venture that provides additional income to professional accountants outside of their regular employment.
As an accounting professional, there is a wide range of skills and expertise you can offer clients as part of your side hustle. These include bookkeeping and tax preparation for small businesses, consulting on financial statements or budgets, and even forensic accounting work.
Some examples of popular accounting side hustles include freelancing as a bookkeeper or auditor, offering an online course and tutoring services in accounting, becoming an independent tax return preparer, starting an accounting blog or starting an affiliate marketing business selling accounting-related products.
With the rise of ecommerce stores and digital product sales platforms like Kindle Direct Publishing, accountants have plenty of opportunities to use their skills to generate additional income streams outside their traditional accounting job.
Benefits Of Starting An Accounting Side Hustle
Starting an accounting side hustle offers benefits such as additional income stream, flexibility and control over your schedule, skill development, and the opportunity to pursue your passion.
Additional Income Stream
Starting an accounting side job can provide you with an additional income stream. As a professional accountant, you have the skills and knowledge to offer valuable bookkeeping services for small businesses or become a tax consultant during tax season.
According to Indeed, the average salary of a freelance accountant is $58,259 per year in the United States. Aside from earning extra money, having another source of income can also give you financial security and stability.
You can use your side hustle earnings to pay off debts, save for retirement or invest in other ventures. Plus, having multiple streams of income can help reduce your reliance on your full-time job and provide more flexibility in your career choices.
Flexibility And Control
An accounting side gig provides the opportunity for flexibility and control over your work schedule. As a side hustler, you have the freedom to set your working hours and choose clients based on their needs, aligning your workload with your personal priorities. You may even earn passive income.
Accounting professionals can use this control to take on additional income streams while maintaining their full-time job. In addition to providing a sense of autonomy, an accounting side business can also give you more control over the type of services you offer.
You have the option to customize your service offerings and specialize in a specific area of accounting or work with particular industries that interest you. Having more control over what types of projects you work on may lead to greater satisfaction in both your day job and side gig, ultimately improving overall life-work balance.
As you take on new clients and projects, you’ll encounter a range of accounting tasks that challenge you in different ways. You’ll sharpen your bookkeeping, tax preparation, and financial analysis skills through real-world experience.
Moreover, pursuing an accounting side gig allows you to leverage and showcase these growing skillsets while working with a diverse set of clients.
Gaining exposure to various businesses across multiple industries can help you maintain up-to-date knowledge on regulatory changes that impact their operations. And finally, expanding your scope also makes for a more fulfilling career as an accountant.
Pursuing Your Passion
One of the benefits of starting an accounting side gig is pursuing your passion. As an accountant, you may have expertise in a specific industry or niche that you’re passionate about. Side hustling allows you to work on projects and with clients within that area of interest.
Furthermore, pursuing your passion can lead to greater job satisfaction and fulfillment. In addition to earning extra income, you’ll also be able to do what you love and make a positive impact for others.
Whether it’s offering financial coaching services, specializing in small business bookkeeping, or creating accounting-related products, there are many ways for accountants to pursue their passions through a side hustle. Overseeing the company’s accounting department, preparing budgets, managing insurance, tax reporting are all potential areas for accountants to offer side hustle services.
Types Of Accounting Side Hustles
There are a variety of accounting side hustles available to suit different interests and skill sets, from part-time bookkeeping to financial coaching and even affiliate marketing. Read on to explore the different side hustle ideas you could take up!
Part-time Bookkeeper Or Auditor
As an accountant, offering part-time bookkeeping or auditing services can be a lucrative side hustle.
A small business owner may frequently use these services to assist with organizing and keeping track of their finances. With the rise of online bookkeeping software, this type of work can easily be done remotely.
One of the benefits of offering part-time bookkeeping or auditing services is the flexibility it provides. Accountants can choose to take on as much or as little work as they want, allowing them to balance their side business with their full-time job.
Additionally, this type of work allows accountants to develop valuable skills in financial analysis and management that can benefit them in their career advancement.
Online Accounting Tutor
Online Accounting Tutoring is a popular side hustle for accountants. As an online accounting tutor, you can offer your services to students looking to improve their understanding of accounting principles and concepts.
You can teach a variety of topics such as financial accounting, managerial accounting, and tax accounting among others. The increasing demand for online tutoring has made it easier than ever before to get started as an online accounting tutor.
All you need is a computer with a reliable internet connection and some basic software tools like Skype or Zoom to communicate with your clients. Many tutors charge hourly rates ranging from $50-$150 per hour depending on their experience level and the complexity of the subject matter they are teaching.
Becoming an Online Accounting Tutor also provides the flexibility to create passive income streams by creating pre-recorded courses that students can access whenever they want. Platforms like Udemy and Coursera offer opportunities for tutors to build courses in which they receive compensation based on sales generated through these platforms.
One way for accountants to leverage their skills into a profitable side hustle is by offering freelance accounting services.
As a freelancer, they can work on projects on a contract basis without being tied down to a specific employer or location. This provides flexibility and control over the type of work they take on, allowing them to pursue their passions outside of their full-time job.
Offering freelance accounting services also creates an additional income stream. Accountants can charge competitive rates and earn money while working from home, in coffee shops or anywhere with an internet connection.
You can choose to specialize in certain types of clients or industries that interest you, such as small businesses needing bookkeeping services or individuals looking for tax preparation help during tax season.
An Accounting Consultant is an individual who provides expert advice to individuals and organizations on accounting matters. You can start a consultancy, which is an excellent way to make money.
As a side hustle, this role involves offering clients guidance on financial management, budgeting, forecasting, tax planning, and bookkeeping. By leveraging their extensive knowledge of financial regulations and best practices in accounting principles, consultants can help businesses make informed decisions that will drive growth and profitability.
One significant advantage of becoming an Accounting Consultant aside from your main job is the flexibility it offers. Consultants can work remotely or at the client’s location with minimal supervision, which allows them to balance their day job while earning extra income.
Additionally, freelancing as an Accounting Consultant gives you control over your workload and schedule without committing to full-time employment. With the huge demand for experienced accountants in various industries today means that there are opportunities everywhere for aspiring consultants looking to start their own business or freelance services.
Tax Return Preparer
As a tax return preparer, you’ll assist clients with filing their taxes accurately and timely.
It’s an excellent side gig for accountants who have experience preparing individual or business tax returns. You can expect to earn anywhere from a few hundred dollars per client, depending on the complexity of their situation.
One key factor in success as a tax return preparer is staying up-to-date with changes in the tax laws and regulations each year. Additionally, it’s essential to maintain accurate records for all clients and ensure compliance with all applicable rules and guidelines.
With demand high during tax season, this is a great option for an accountant looking to boost their income during the first quarter of each year.
Virtual bookkeeping is a great option for accountants looking to start an accounting side hustle.
It involves keeping clients’ financial records up-to-date via cloud-based software and online communication tools, allowing you to work remotely from anywhere in the world. With the rise of technology, there’s been a significant increase in demand for virtual bookkeepers.
To get started with virtual bookkeeping as an accountant, you need to have strong knowledge of accounting principles and software such as Quickbooks or Xero. You can also take courses in virtual bookkeeping or find resources online. Virtual bookkeeping offers excellent flexibility and earning potential, making it a popular choice among those seeking extra income streams outside their full-time jobs.
Financial coaching is a great way for accountants to utilize their expertise and help individuals or small businesses with financial planning.
As a financial coach, an accountant can provide advice on budgeting, investment options, debt management and more. Additionally, coaches can assist in setting financial goals and creating actionable plans to achieve them.
One of the benefits of offering financial coaching as a side gig is that it has low overhead costs. Coaches can use free resources like email and phone calls to communicate with clients instead of renting office space.
Moreover, offering virtual sessions allows for flexibility in scheduling appointments around your day job or other commitments. Financial coaching provides opportunities for accountants to help people improve their finances while earning extra income without sacrificing much time or effort.
Affiliate marketing is an excellent way for accountants to earn additional income. It involves promoting other businesses’ products online and earning a commission on sales made through your unique referral link.
With no need for inventory or shipping, affiliate marketers can generate passive income while working from home.
One of the most significant benefits of affiliate marketing for accountants is that it requires minimal investment, making it an easy side hustle to start. By leveraging their existing accounting knowledge and network, accountants can promote accounting-related products like cloud-based bookkeeping software or tax preparation services to potential customers in need. As more small businesses move towards digital solutions, there’s huge demand in this industry sector alone.
Selling Accounting Templates
Selling accounting templates is an excellent side gig option for accountants who are looking to leverage their expertise in a profitable way.
Accounting templates can range from profit and loss statements to balance sheets, tax forms and more. You can even offer customized spreadsheet solutions tailored specifically to your client’s needs.
The good thing about selling accounting templates is that you only need to create them once, which means you can sell them over and over again making it one of the best passive income ideas.
Moreover, many small business owners may not have the time or knowledge to develop such procedures themselves, making it a huge market with plenty of demand for these types of services. With just a few hundred dollars invested in creating templates, you could potentially make thousands of dollars in passive income year after year!
Start a YouTube Channel
You may start a YouTube channel as a side gig. It makes sense for an accountant to leverage their knowledge to produce videos on financial subjects like taxes, investing, and personal finance. This is a great opportunity to use the skills you already have from your day job to earn some extra cash on the side.
To start making money from your channel through the YouTube Partner Program, you must reach 4,000 hours of watched content and 1,000 subscribers. After you reach this point, you can submit an application for monetization and begin showing advertisements on your videos. After that, a portion of the money made from these advertising will go to you.
Additionally, you can make money by making and selling your own items, engaging in affiliate marketing, or receiving direct sponsorships. Here are just a few methods for making money from your YouTube channel.
Just like starting your own website or blog, creating a channel from scratch takes time and patience. Before you start to see much of a return on your investment, you’ll need to labor for at least many months. Nonetheless, the long-term benefits can make the work worthwhile.
How To Get Started In An Accounting Side Hustle
Evaluate Your Skills And Interests
Take some time to assess your strengths and weaknesses in the field of accounting. Identify the areas you excel at, such as bookkeeping, auditing or tax preparation. This will help you determine the types of services you can offer as a freelancer.
Consider your personal interests as well when choosing a side business in accountancy. For instance, if you enjoy teaching others about finance, becoming an online accounting tutor could be a great option for you.
If you have experience with financial planning or investments, offering financial coaching services may be a good fit. By evaluating both your skills and interests, you’ll be able to choose a side hustle that aligns with your passions while also leveraging your expertise.
Remember that finding success in any side hustle requires dedication and hard work. So make sure that whatever type of service you provide is one that energizes rather than drains you!
Develop A Business Plan
When starting an accounting side business, creating a business plan can help you stay on track and set achievable goals.
Begin by assessing your skills and interests to determine what services you will offer. Then, define your target market and establish a pricing strategy. Once you have a clear understanding of what your offering is, it’s time to create a roadmap for achieving success in your side hustle.
This includes setting financial goals, outlining marketing strategies, and identifying potential roadblocks. While having a strong business strategy is essential, keep in mind that it’s also acceptable to alter or pivot as necessary based on client feedback or changes in the industry.
Set Up Your Business
First, evaluate your skills and interests to determine what type of services you can offer. Then, develop a detailed business plan outlining your goals and strategies.
Next, set up the legal structure for your business by registering with the appropriate government agencies or obtaining necessary licenses. Choose an appropriate name for your business and purchase any required insurance policies.
Establishing an online presence through social media or creating a website is also crucial to attract clients in today’s digital age. By taking these steps, you can set yourself up for success as an accountant entrepreneur.
Define Your Services And Pricing Strategy
Once you’ve decided on your services, it’s time to determine how much to charge for them. Consider researching industry standards and competitor prices to ensure that you’re offering competitive rates while also making a profit.
Don’t forget to factor in any additional expenses such as software subscriptions or advertising costs when calculating your prices. By clearly defining your services and pricing strategy upfront, you can set yourself up for success in building a profitable accounting side hustle.
To avoid misunderstandings about price points between the parties involved and to demonstrate value for clients who need ongoing support from their accountant without going over budget, split packages into tiers of hours worked per month rather than one-off projects. This will help clients who need ongoing support from their accountant understand what they’re paying for at each price point offered.
Establish An Online Presence
A lot of people use the internet to search for bookkeepers, accountants, or financial coaches, so having a website can help you reach your target audience.
Aside from having a website, social media platforms are also valuable tools when building your online presence. Facebook and LinkedIn are effective in connecting with potential clients and networking with other professionals in the accounting field. You can also utilize Instagram or Pinterest to showcase infographics or images highlighting your niche as an accountant.
Remember to keep it professional when creating an online image. Highlighting certifications, degrees earned or experience on profiles shows potential clients you have the necessary knowledge and credentials they’re looking for in an accountant.
Network With Other Professionals
Networking with other professionals can help accountants find clients and grow their side business. Connecting with others in the same field or related industries can lead to potential collaborations or referrals.
LinkedIn is a great platform for networking as it allows accountants to connect with individuals in similar roles, join groups centered around accounting, and even search for potential clients.
Aside from online platforms, local accounting organizations or meetups offer opportunities for face-to-face networking. These events are not only great for expanding an accountant’s network but also learning about new trends, tools, and regulations that may impact their side hustle.
Building relationships with other professionals in the industry can be beneficial in many aspects of an accountant’s career including finding mentorship, job opportunities, and developing new skills.
Tips For Success In Your Accounting Side Hustle
Deliver Excellent Customer Service
Delivering excellent customer service is crucial for success. It can make the difference between retaining clients and losing them to competitors. As an accountant with a side gig, you must prioritize delivering quality services that meet your client’s expectations.
One way to deliver excellent customer service as an accounting side hustler is by being responsive. Responding promptly to emails and calls shows your clients that their time and money are valuable. This will help build trust, improve communication, and foster a positive working relationship with your clients.
Another essential aspect of providing quality customer service is being attentive to your client’s needs. You should take the time to understand each client’s unique requirements and tailor your services accordingly. Whether it’s bookkeeping or tax preparation, ensure that you provide personalized solutions that meet each client’s specific accounting needs.
Stay Organized And Efficient
One important aspect of running a successful accounting side business is to stay organized and efficient.
As an accountant, it’s crucial to keep accurate records of income and expenses for both your clients and your own business. Utilizing bookkeeping software and maintaining a well-organized filing system can help you stay on top of things.
It’s also essential to manage your time effectively when balancing multiple clients or projects. Creating a schedule for tasks such as invoicing, client meetings, and tax return preparation can help you avoid missing deadlines or becoming overwhelmed with work.
Additionally, utilizing productivity tools such as project management software or time-tracking apps can streamline your workflow and increase efficiency in the long run. By staying organized and efficient, you can ensure that your accounting side gig remains profitable while also managing other responsibilities in life.
Invest In Continuing Education
One of the keys to success in any field, including accounting side hustles, is to invest in continuing education. This can include taking courses online or at a local college or attending industry conferences and workshops.
Keeping up with the latest trends and techniques in accounting not only keeps accountants competitive but also provides opportunities for new services that can be offered as part of their side hustle.
Continuing education helps accountants stay on top of changes and updates related to tax laws, regulations, and accounting software. With this knowledge, they can provide even better service to clients while also expanding their offerings.
In today’s fast-paced digital age, there are plenty of online resources available for continuing education. From YouTube tutorials to webinars hosted by professional organizations like the American Institute of Certified Public Accountants (AICPA), there are many options available to help accountants improve their skills and grow their side hustles.
Time management is a crucial aspect of any side hustle, especially for accountants who may have a full-time job. It’s important to prioritize tasks and make the most of limited time. One tip for effective time management is to create a schedule or daily routine to follow.
Additionally, setting realistic goals and deadlines can help keep you on track and motivated. With proper time management skills, accountants can successfully juggle their day jobs with their accounting side hustles and still find time for personal interests.
In conclusion, starting side hustles for accountants can be a game-changer for those seeking to diversify their income and take control of their careers.
Whether you’re a full-time accountant or someone with accounting skills looking to break into the industry, there are plenty of options available.
Accountants now have more opportunities than ever to turn their love of numbers into a successful side business thanks to the growth of online courses, productized services, and social media sites like YouTube and Instagram.
So what are you waiting for? Take that first step towards financial independence today!
Before you leave
If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.
It’s helped me earn over $300,000 in the last 12 months alone:
(This is a 100% free training)
David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.