Crystalynn Shelton Talks Mistakes to Avoid in Setting Up a Bookkeeping Business on The Successful Bookkeeper Podcast

In a recent episode of The Successful Bookkeeper Podcast, Licensed CPA and QuickBooks Top 100 ProAdvisor Crystalynn Shelton dove into the reality behind a bookkeeping business, discussing the lessons she learned, her mistakes, the self-care routine she put in place, and her advice to set a bookkeeping business up for success. 

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It is important to remember that when setting up a bookkeeping business there are certain things people should avoid. Here are the top five mistakes to keep in mind:

  1. Not having an appropriate budget for the business. When launching a bookkeeping business, having a realistic budget for all expenses, including marketing, office space, and staff, is important. Without a budget, staying on track and maintaining the business’s success won’t be easy.
  2. Not having a well-rounded skill set. Bookkeeping requires knowledge of both accounting and software platforms such as QuickBooks. To provide quality services to clients, business owners should ensure they have the necessary skills to handle any bookkeeping needs.
  3. Not having the right tools and equipment. Having the right tools and equipment is essential for a successful bookkeeping business. Invest in quality software, hardware, and other necessary items to make the job easier and more efficient.
  4. Using outdated methods to manage data. While manual record-keeping can still be used, most clients will likely expect the business to use modern techniques such as cloud-based services or software programs. Owners should ensure the bookkeeping business uses the latest technologies and processes to ensure accuracy and reliability.
  5. Not charging enough for the services. Many new bookkeepers make the mistake of undercharging for their assistance to attract more clients. However, this can be detrimental to the business in the long run as they will not make enough money to cover their expenses. They should ensure they charge a fair rate for their services and remember that quality is always more important than price.

It is also important for business owners to keep up with industry trends to stay competitive and stay informed of key developments, such as changes in accounting standards or technologies that could benefit the business. Additionally, networking with other bookkeepers in the area can be a great way to learn from their experiences and broaden their knowledge.

Lastly, it’s essential to stay organized and keep accurate records of all the clients’ information to provide the best possible services. By following these simple steps, people will be on their way to building a successful bookkeeping business that will serve them well for years.

Chrystalynn shared: “I feel this topic is so important because you’ve got to take time out to take care of yourself or there will be no business.”

About Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and QuickBooks Top 100 ProAdvisor helping startups, small businesses, and million-dollar companies alike take control of their finances through accounting software training and consulting.

Crystalynn’s number-crunching interest was sparked after taking a high-school bookkeeping course, and on completing the course, she was determined to become a CPA. For the last 20 years, she has done just that, leading accounting departments for Fortune 500 companies like Intuit, Texaco, and Paramount Pictures.

In 2010, Crystalynn went on to found her own consulting business. Since then, she has gone on to publish Mastering QuickBooks, a three-time Amazon Bestseller now in its fourth edition, and coached more than 100 clients, all the while serving as an Adjunct Instructor at the University of California, Los Angeles (UCLA) for the last 13 years teaching bookkeeping and QuickBooks courses.

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