Table of Content

    Do you want to start accounting and bookkeeping business plan?

    A bookkeeping business requires you to manage your expenses and income, prepare tax returns for clients and process payrolls. You should learn how to approach clients and create a bookkeeping business plan template to get your business up and running. One thing you should not overlook is looking for an ideal banking partner. You should write a business plan before starting your business.

    When a business plan is needed to acquire funding, the value it provides is all about the overall process. You need considering every aspect, like services and products, you are going to sell, the way you will market your offerings, and your competition. Here are some of the major items you should include in your business plan –

    Executive Summary

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    When writing a bookkeeping services business plan template, the executive summary is a very important part. You need writing the overall review of your company business. You need describing your services to your clients. It will need investment in staff and marketing for the overall growth of your business to include the complementary range of your business. This segment of the business plan helps you in starting your own bookkeeping business. You need to do an in-depth and detailed analysis of your business strengths and weaknesses and ensure it has great odds of success.

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    • What services do you offer?

    This way, your company can definitely provide bookkeeping services to your clients along with management accounting, tax accounting, as well as QuickBooks installation and services. You can also further expand to offer bookkeeping services for small businesses. You may want to offer quality and reliable services like Accounts Payable/Receivable, General Ledger, Billing & Collections, Payroll Management, Tax Preparation and Filling State, Federal and Local Forms.

    • Who buys your product?

    As a licensed and standard bookkeeping firm, you can offer a huge range of consulting solutions to a huge range of clients’ base. Your target market may be ranging from different industries and sizes. This way, you may want to target NGOs, Mom and Pop stores, Blue Chip companies, Hotels and Restaurants, Religious Organizations, Sports Organizations, Schools and others.

    • How he implement business management?

    Proper planning needs well-trained staff and efficient management team enough to run your business. You need describing the efficiency of your business partners and staff.

    • What target of this business?

    Here, you need describing your measurable goals. You should have a well-defined target and measurable elements to ensure the success of your business.

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    Company Summary

    Financial services are quite a large industry and bookkeeping is one of the active segments of the businesses, which includes recording financial transactions in business. It is a kind of financial accounting process. The payroll and bookkeeping services industry has plenty of small business operators which serve many clients from start-ups to well-established ones.

    Bookkeeping industry is a mature stage of growth. If you are wondering how to start a bookkeeping service business plan, it is very helpful to know how to outsource your human resource functions like payroll etc. to focus your attention on core business operations. The bookkeeping is a large and active industry especially in developed countries like USA, Canada, UK, France, Italy, Japan, China, etc. There are around 285,212 licensed and registered bookkeeping companies in the US alone.

    • Who is owner of this company?

    You need telling the ownership of your company, like a sole proprietorship, partnership, etc.

    • Why you have started Bookkeeping business plan?

    Bookkeepers usually keep transactions like sales, purchases, payments, and receipts by the organization or person. Your purpose to start this business may be related to one of these things.

    • How you have to start the Bookkeeping business plan?

    For doing this, you can partner with smaller companies also engaged in financial services, such as auditing firms, tax consulting firms, and others.

    Here is the data in table containing the costs-

      2007 2008 2009
    Current Assets
    Cash $15,000 $17,500 $20,000
    Accounts Receivable $4,167 $6,250 $7,292
    Other Current Assets $5,000 $5,000 $5,000
    TOTAL CURRENT ASSETS $24,167 $28,750 $32,292
    Long-term Assets
    Long-term Assets $0 $0 $0
    Accumulated Depreciation $0 $0 $0
    Total Assets $24,167 $28,750 $32,292
    Current Liabilities
    Accounts Payable $4,583 $5,625 $6,896
    Current Borrowing $0 $0 $0
    Other Current Liabilities (interest free) $0 $0 $0
    TOTAL CURRENT LIABILITIES $4,583 $5,625 $6,896
    Long-term Liabilities $0 $0 $0
    TOTAL LIABILITIES $4,583 $5,625 $6,896
    Paid-in Capital $10,000 $10,000 $10,000
    Retained Earnings ($10,417) ($51,875) ($83,554)
    Earnings $20,000 $65,000 $98,950
    TOTAL CAPITAL $19,583 $23,125 $25,396
    Total Capital and Liabilities $24,167 $28,750 $32,292
    Other Inputs
    Payment Days 30 30 30
    Sales on Credit $50,000 $75,000 $87,500
    Receivables Turnover 12 12 12
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    Services for customers

    When creating an accounting business plan template, you need to describe what services you have on offer. Establishing the clientele of the accounting business takes time. It takes words of mouth, referrals, and recommendations for new clients to select your services. You may look at the advertisements or Yellow Pages to figure out the services your business can offer. Then you can add further information and pricing.


    You should be prepared well to make profits from your industry. As a general overview of how to start a business plan template for home bookkeeping, you may offer the following services.

    • Tax services like Tax Planning, Tax Preparation, addressing tax issues (IRS issues, payroll problems, bankruptcy, audit representation etc.)
    • Cost Accountant/Management services like Cost and Margin analysis, Audits, Credit Card Processing setup, and Financial Projection
    • QuickBooks training, QuickBooks setup, etc.

    Along with these, your accountants may add these bookkeeping solutions –

    • Sales tax processing
    • Payroll processing
    • Accounts receivable (invoicing, entry, collection, deposits etc.)
    • Accounts payable (bill payments, entry)
    • Bank Reconciliations
    • Financial statement preparation
    • Inventory Management

    To add further value to your offerings, your accountant or bookkeeping manager may audit and supervise the work of bookkeepers, answer their queries, and provide quality service. They will also review QuickBooks reports and files to ensure they follow the formats properly and are prepared well.

    Franchise Business Plan

    Marketing Analysis of Accounting and Bookkeeping Business Plan

    The market for small accounting business consists of almost every small business in the US. As businesses grow larger than a sole proprietorship, they usually need an expert solution with tax preparation and additional bookkeeping and accounting solutions. Even most of the non-employer proprietorships need accounting services at least once. When most small businesses have CEOs or bookkeepers for full time, some even outsource these services. When making home based bookkeeping business plan template, you need to consider the following questions –

    • Who is the targeted audience of accounting and bookkeeping business?

    Promotion activities in your business also vary according to your target market. When it comes to choosing an accountant, there is a great importance of referrals and words of mouth among all market segments. There are certain efforts you need to take to stimulate business when starting your own bookkeeping business plan home. You need creating a cost-effective business campaign, based on publicity, direct marketing, advertising, and customer reward program.

    • What business target should company achieve?

    Your business target clarifies what you want to achieve in your specific goals. You need to have a well-defined target with measurable elements to make an effective goal. There are different types of goals, and your plan should have a variety of goals. There are two different categories of goals for many businesses – marketing and financial targets. You need to tailor your objectives to cover the overall bookkeeping business.

    • How much will be the average price of the product?

    Here, you need to describe how much you are going to charge for your services. You should consider fee structure for your business clients according to their unique needs. On average, you may charge $55 on an hourly basis for businesses for accounting services. There is a base fee range of $50 to $125 for personal/housing tax preparation. There are also charges for filing in the schedules and forms involved. The personal consulting is also priced at an hourly rate of $25.

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    Referrals are the effective and most important parts of your business. Therefore, you need to be more aggressive in attracting new clients in the first few years, which will pass on the words and your business, can start experiencing natural growth. Useful and constructive planning needs a broad and detailed understanding of changes, which take place in the market where your company has competition, or want to compete.

    Bookkeeping Business Plan Template

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    TOTAL UNIT SALES 1,812 4,177 8,112
    Unit Prices 2010 2011 2012
    Tax Preparations $750.00 $750.00 $750.00
    Cost Accounting Analysis $1,000.00 $1,000.00 $1,000.00
    QuickBooks Services $300.00 $300.00 $300.00
    Bookkeeping Hours $30.00 $30.00 $30.00
    Tax Preparations $93,600 $97,500 $101,250
    Cost Accounting Analysis $60,300 $63,000 $65,000
    QuickBooks Services $17,100 $17,700 $18,600
    Bookkeeping Hours $47,100 $117,750 $235,500
    TOTAL SALES $218,100 $295,950 $420,350
    Direct Unit Costs 2010 2011 2012
    Tax Preparations $37.50 $37.50 $37.50
    Cost Accounting Analysis $30.00 $30.00 $30.00
    QuickBooks Services $0.00 $0.00 $0.00
    Bookkeeping Hours $15.00 $15.00 $15.00
    Direct Cost of Sales
    Tax Preparations $4,680 $4,875 $5,063
    Cost Accounting Analysis $1,809 $1,890 $1,950
    QuickBooks Services $0 $0 $0
    Bookkeeping Hours $23,550 $58,875 $117,750
    Subtotal Direct Cost of Sales $30,039 $65,640 $124,763


    You also have to consider the ever-changing and thriving financial markets when starting your own bookkeeping business home. You need considering detailed technical skills in different disciplines like financial analysis, tax, sales, managing growth, and marketing, which are the important components to assess the risks and opportunities in a company.

    • Who are your competitors?

    When writing a business plan tamplate for bookkeeping business, you need to explain how you are going to stand out in competition. You may want to have detailed technical skills in different disciplines like financial analysis, tax, sales, managing growth, and marketing. These are the important components to assess the risks and opportunities for the company. Your management should develop disciplined planning and methodology to anticipate your economic needs and other important information.

    • What is your sales strategy?

    It is a strategy for business plan to sell your services to your existing clients, especially before your marketing efforts pay off with upcoming inquiries. You need to inform about the services to all the clients by phone. You may approach the clients through regular sales calls.

    • What about your sales forecast?

    When writing a business plan template for a bookkeeping business, describe the average cost of a project like tax services ($750), QuickBooks services ($300), and cost accounting ($1000). Bookkeeping services are charged on an hourly basis, i.e. $30 per hour.

    Personnel Plan

    When creating a business plan for accounting services, you might want to have a bookkeeping manager who will keep track of the work of bookkeepers. He will be in MS or MBA accounting program with years of bookkeeping and professional work experience, especially at the beginning of their graduate school program so they can work through two years of the program and be considered for a move to a full-time position in the third year.

      2010 2011 2012
    Bookkeeper training-period wages $1,200 $400 $1,600
    Max Greenwood $60,000 $65,000 $70,000
    Bookkeeper Manager $24,000 $28,800 $48,000
    Benefits $8,400 $9,380 $11,800
    TOTAL PEOPLE 5 6 10
    Total Payroll $93,600 $103,580 $131,400

    The manager will also move from part-time to a full-time position in a few years to come. In the personnel plan, you need to explain about the staff you are going to hire and the team you have already.

        • What staff would be needed for accounting and bookkeeping company?

    In this part of the bookkeeping business plan template, explain what staff you would need for your company. You have to explain the key business members of your business. You need to explain whether you would hire full time or part-time staff. Will you need additional support staff to further expand your business? You need to explain key members of your business.

        • What will be the average salary of your staff?

    You will also have to explain the salary of your staff on average, along with office and other expenses during the first year. You can describe this part in detailed form.

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    Financial Plan

    This section of your bookkeeping company business plan consists of growth with positive cash flows with operations. It is unimportant to add owner investment or outside investment for business plan. The new line of business is not capital based and it will improve the fixed costs of business. Additional revenues from sales should cover it quickly. At least five clients use service without any problem, as they are all set to use bookkeeper or outsource their bookkeeping. Here are some of the assumptions of financial plan –

    Important Assumptions

    You need to describe your assumptions on the growth of your business over the next 2 to 3 years. You need to explain the working hours of your bookkeepers before reaching the capacity.

    Break-even Analysis

    It should be based on fixed costs behind running the business with old lines of your business. It is a significant rise from the breakeven point. You can describe your payroll, capacity, marketing activity, expenses of new bookkeeper, insurance, cost of sales etc.

    Bookkeeping Business Plan

      2010 2011 2012
    Bookkeeper training-period wages $1,200 $400 $1,600
    Max Greenwood $60,000 $65,000 $70,000
    Bookkeeper Manager $24,000 $28,800 $48,000
    Benefits $8,400 $9,380 $11,800
    TOTAL PEOPLE 5 6 10
    Total Payroll $93,600 $103,580 $131,400


    Projected Profit and Loss

    Here, you need to explain the proposed income and expenses of your business as well as the overall profit and loss. Also, explain how you are going to balance them.

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    cpa business plan

    Projected Cash Flow

    You will need to explain the overall cost requirement in the first year and how you will balance out and get back to the positive cash flow in the next few years to come.

    Bookkeeping Business Plan Sample

    Projected Balance Sheet

    If your new business succeeds as you expect, the net worth can improve in your business. Explain the debt of the business as well as external financing.

      2010 2011 2012
    Current Assets
    Cash $29,418 $48,582 $50,596
    Accounts Receivable $10,730 $14,560 $20,680
    Other Current Assets $5,000 $5,000 $5,000
    TOTAL CURRENT ASSETS $45,148 $68,142 $76,276
    Long-term Assets
    Long-term Assets $0 $0 $0
    Accumulated Depreciation $0 $0 $0
    TOTAL ASSETS $45,148 $68,142 $76,276
    Liabilities and Capital 2010 2011 2012
    Current Liabilities
    Accounts Payable $10,708 $12,418 $18,663
    Current Borrowing $0 $0 $0
    Other Current Liabilities $0 $0 $0
    SUBTOTAL CURRENT LIABILITIES $10,708 $12,418 $18,663
    Long-term Liabilities $0 $0 $0
    TOTAL LIABILITIES $10,708 $12,418 $18,663
    Paid-in Capital $10,000 $10,000 $10,000
    Retained Earnings $15,396 $4,441 ($14,276)
    Earnings $9,045 $41,284 $61,889
    TOTAL CAPITAL $34,441 $55,724 $57,613
    TOTAL LIABILITIES AND CAPITAL $55,248 $78,142 $86,276
    Net Worth $35,442 $56,721 $58,613
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    Business Ratios

    You will need to explain the overall ratio of your assets with net worth. Explain how gross margins can be higher than averages.

      2010 2011 2012 INDUSTRY PROFILE
    Sales Growth 24.64% 35.68% 42.04% 3.35%
    Percent of Total Assets
    Accounts Receivable 23.78% 21.36% 27.12% 14.35%
    Other Current Assets 11.08% 7.354% 6.57% 53.57%
    Total Current Assets 100.00% 100.00% 100.00% 70.11%
    Long-term Assets 0.00% 0.00% 0.00% 29.89%
    TOTAL ASSETS 100.00% 100.00% 100.00% 100.00%
    Current Liabilities 23.73% 18.23% 24.48% 37.95%
    Long-term Liabilities 0.00% 0.00% 0.00% 54.54%
    Total Liabilities 23.72% 18.22% 24.47% 92.47%
    NET WORTH 76.29% 81.79% 75.54% 7.54%
    Percent of Sales
    Sales 100.00% 100.00% 100.00% 100.00%
    Gross Margin 86.22% 77.83% 70.33% 59.55%
    Selling, General & Administrative Expenses 82.09% 63.88% 55.61% 28.36%
    Advertising Expenses 17.64% 6.78% 4.78% 1.22%
    Profit Before Interest and Taxes 5.90% 19.92% 21.04% 8.20%
    Main Ratios
    Current 4.22 5.49 4.10 1.25
    Quick 4.20 5.50 4.12 1.19
    Total Debt to Total Assets 23.70% 18.20% 24.48% 92.48%
    Pre-tax Return on Net Worth 37.50% 105.80% 153.47% 696.32%
    Pre-tax Return on Assets 28.60% 86.56% 115.90% 52.40%
    Additional Ratios 2011 2012 2013
    Net Profit Margin 4.14% 13.94% 14.73% n.a
    Return on Equity 26.27% 74.08% 107.43% n.a
    Activity Ratios
    Accounts Receivable Turnover 10.15 10.15 10.15 n.a
    Collection Days 28 30 30 n.a
    Accounts Payable Turnover 10.75 12.14 12.14 n.a
    Payment Days 29 28 25 n.a
    Total Asset Turnover 4.82 4.33 5.50 n.a
    Debt Ratios
    Debt to Net Worth 0.32 0.24 0.34 n.a
    Current Liab. to Liab. 1 1 1 n.a
    Liquidity Ratios
    Net Working Capital $32,441 $53,724 $55,613 n.a
    Interest Coverage 0 0 0 n.a
    Additional Ratios
    Assets to Sales 0.22 0.24 0.17 n.a
    Current Debt/Total Assets 23% 19% 22% n.a
    Acid Test 2.21 3.31 1.98 n.a
    Sales/Net Worth 5.33 4.31 6.3 n.a
    Dividend Payout 0 0.47 0.95 n.a

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