Considering Bookkeeping as a Lifelong Career: A Journey from Stay-at-Home Dad to Financial Professional
Hello and welcome to our blog! Today, we’re diving into a question that many budding professionals are asking: is Bookkeeping a viable lifelong career? As someone who’s exploring career options, I’ve been contemplating whether Bookkeeping might be the perfect fit. Here’s a bit about my story and why this career path has piqued my interest.
My Journey So Far
To give you some background, I’m a young father who’s recently completed a bachelor’s degree in business management while primarily staying at home with my children. My wife, who is now the main earner in our household, works full-time but only needs to be away a few days a week. Together, we’ve embraced homeschooling our kids, which means a standard 9-to-5 job isn’t a viable option for me right now. I’m on the lookout for flexible, work-from-home opportunities.
The Bookkeeping Proposition
This is where the idea of bookkeeping comes in, largely inspired by my in-laws. They run a well-established Accounting and tax practice, and they’ve suggested that bookkeeping could be a smart move for me. Given my business degree, they believe I have the foundation needed for success in this area. They’ve even offered to mentor me, post-tax season, and possibly bring me into their business as an in-house bookkeeper.
Bookkeeping seems to tick many boxes for me: the potential to gradually build a clientele, flexible hours, good income potential, and the possibility to grow and even create my own business.
Concerns and Contemplations
However, like any career decision, it’s not without its uncertainties. Here are some concerns I’m mulling over:
- Future-Proofing: In an age where technology continually evolves, I worry about the potential for bookkeeping tasks to be automated by AI.
- Career Growth: While bookkeeping aligns with my current needs, I want assurance that it offers room for skill enhancement, knowledge expansion, and of course, financial growth over time.
- Long-Term Viability: There’s always the concern that spending years in this field might mean missing out on opportunities in another potentially more lucrative or interesting career.
Seeking Advice
My aim is to gather insights from those experienced in the world of bookkeeping. Is this a career that can foster a long-term, successful journey? Are my concerns about AI and growth justified? How does one thrive in this field without pursuing a CPA qualification?
Your insights
One response
Hello! Thank you for reaching out and sharing your story. It’s great that you are giving careful consideration to your career path, especially given your unique circumstances and family dynamic. Let’s delve into the opportunities and considerations that come with a career in Bookkeeping.
Why Bookkeeping Could Be a Good Fit
Flexibility and Work-Life Balance: As you’ve mentioned, Bookkeeping offers a significant level of flexibility. With advancements in cloud-based Accounting Software, remote bookkeeping is becoming increasingly feasible. This aligns well with your need to work from home while managing family responsibilities.
Foundation and Skills: Your business management degree provides a solid foundation for bookkeeping. Key skills in organization, attention to detail, and financial analysis are transferable, and having family in the Accounting field can facilitate your learning curve.
Growing Demand: While technology continues to evolve, the need for bookkeepers remains strong, especially for small to mid-sized businesses seeking personalized services. Your in-laws’ practice could be a significant asset, not only offering potential clients but also providing mentorship and initial training.
Potential to Scale: Bookkeeping is a field where you can start small and scale up. You could begin by taking on a few clients referred by your in-laws and gradually build your business, potentially hiring more staff or expanding your service offerings if desired.
Addressing Common Concerns
Impact of Technology: It’s true technology is transforming financial services. However, while AI and automated tools can handle many routine tasks, the need for human oversight, client interaction, and customized solutions remains vital. Developing skills in using these tools can increase your efficiency and value as a bookkeeper, rather than replace you.
Room for Growth: Bookkeeping can be a stepping stone to broader opportunities in finance and business. As you gain experience, you might explore roles in financial analysis, branch into consulting services, or even help businesses with their financial strategy beyond basic bookkeeping. Consider continuing education or certifications, such as becoming a Certified Bookkeeper, to enhance your skills and marketability.
Long-Term Viability: Bookkeeping has been a stable career choice for decades. The essential nature of financial tracking and compliance means there will always be demand. However, like any other field, staying updated with industry trends and continuously improving your skills will be key to longevity and success.
To conclude, bookkeeping seems to align with your current lifestyle and career aspirations. It’s important to keep an open mind about the possibility of evolving your role in