How to get biz insurance (COST & time). E&O for bookkeeping business (Errors & Omissions Insurance)
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- Опубликовано: 24 июл 2024
- How to get Errors and Omissions Business insurance as a bookkeeper. I just updated my E&O insurance for my bookkeeping business, so thought I'd share my experience. In this video I talk about the cost of business insurance, and all of the questions that I had to fill out to sign up--and also what deductible I chose.
Hiscox: www.hiscox.com/small-business...
Matt Elliot (guy I used), Farmer's Insurance: matt@insurewithelliott.com (503)359-4421 (tell him I sent you!)
Contract for bookkeepers video: • CONTRACT for bookkeepe...
My website: www.finepoints.biz/
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☑️Classes taught by me
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➡Start a bookkeeping business (free checklist) finepoints.newzenler.com/f/st...
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➡Where to start bookkeeping (chart): finepoints.newzenler.com/f/de...
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☑️Other awesome classes (affiliate links)
Booming Bookkeeping: www.boomingbookkeeping.com/re...
Nerd Enterprises: www.nerdenterprises.com/a/202...
5 Minute Bookkeeping: courses.5mbacademy.com/?ref=a...
▶My Bookkeeping Tech Tools: www.finepoints.biz/blog/techn...
▶ Videos to get started bookkeeping:
Learn bookkeeping: • 10 ways to LEARN bookk...
Bookkeeper certification for FREE: • FREE ProAdvisor certif...
How to become a bookkeeper (with chart): • How to become a BOOKKE...
How to get clients: • 20 ways to get bookkee...
What does a bookkeeper do? • WHAT DOES A BOOKKEEPER...
Day in the life playlist: • "Day in the life" of a...
Bookkeeper Launch video: • 10 FIRST IMPRESSIONS o...
Client onboarding: • One Client, START TO F...
How much to charge: • HOW MUCH to charge as ...
Services to offer: • BEGINNER services to o...
▶ More videos you'll like:
Big, medium & small clients: • CLIENT EXAMPLES: Small...
Niches playlist: • Niches for bookkeepers
Before you start: • Bookkeepers: 7 THINGS ...
Impostor syndrome for bookkeepers: • How to overcome IMPOST...
10 reasons to start bookkeeping: • WHY START BOOKKEEPING?
How to clean up a client's books: • How to do a "CLEAN-UP"...
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Thanks for the video !
I watch your videos from Canada and I find most of your information relevant, with only minor details that are different. I'm happy to hear how cheap insurance could be...I literally had no clue how much I'd need to fork over yearly. Have you heard of other bookkeepers starting a side business while also being employed by someone else doing the same work? After a few months practise this is what I hope is possible. A smooth transition lol
It's great to know that much of the information is still very relevant in Canada, thank you for sharing! Yes, many times people employed as bookkeepers for a company decide to create a side hustle to build their own bookkeeping business either as a supplementation or to eventually move from working for someone else to working for themselves :) -Gabe (FinePoints Admin)
Thank you for the valuable information! I always look forward to your videos. I just started my biz and am trying to figure out how to get information from my client. Any suggestions?
Morgan created a video specifically about what kind of questions to ask potential clients before you contract with them (unless you're asking for one you've already contracted them?): Questions to Ask New Bookkeeping Clients. In the description of the video, you can also download a PDF of the questions she shares in the video. ruclips.net/video/nE4Mty6MDVE/видео.html -Gabe (FinePoints Admin)
Hi Jenn! You can also try this vid on paper-less bookkeeper: ruclips.net/video/0E1CYrCBJXY/видео.html
I let you know how you can process info digitally as a bookkeeper with tools in QuickBooks and Google Docs.
1. Receipt capture
2. Pay bills (Accounts Payable)
3. Invoice (Accounts Receivable)
4. Bank Statements
5. Payroll
Let us know if that helps!
-Morgan
@@FinePointsBookkeeping Thank you
Did you purchase this when you were first starting your business? I think it's a good idea, but I worry about if I'm not able to get clients right away. My budget right now is extremely tight.
Morgan did not have this right when she started out, but she did get early on. She recommends to get it as soon as you can as it only helps and protects you and your business!
Krista (FinePoints)
The sucky part is I only make around $200 a month with my bookkeeping side hustle, before taxes, maybe $140 after taxes, so that $50-60 a month is already 30% of my take home pay.
Are you having a hard time finding clients, or what is the number one problem you're facing with your bookkeeping? -Gabe (FinePoints Admin)
@@FinePointsBookkeeping No issues, I just do it as a side gig. But the insurance is kind of expensive for a side gig.
Oh gotcha, yes, that makes sense. You could check with your accountant to see what type of insurance you need (so you don't overspend on it) or if an LLC would cover you for having it as a side gig. -Gabe (FinePoints Admin)
Are you LLC or Sole Proprietorship ?
Hi Helix! FinePoints.biz is an LLC. Morgan has a course, Bookkeeper Business Coach, where you can learn all about starting your own bookkeeping business and applying for your LLC. You can find all of this information here: finepoints.newzenler.com/courses/bookkeeper-business-coach
Krista (FinePoints Assistant)