Is Bookkeeping a Viable Long-Term Career Choice?
Hello to all our readers! Today, I’m delving into a subject that’s been on my mind as I contemplate my career path: Is Bookkeeping a worthwhile career for the long haul? My story begins as a young stay-at-home dad who just finished a bachelor’s degree in business management. With my wife being the primary provider, working full-time in her field, we’ve made the decision for me to stay home part-time with our kids while also focusing on homeschooling. This leads me to explore flexible work-from-home opportunities.
Bookkeeping has been suggested by my in-laws as a fitting career path, given my qualifications and the flexibility it offers. With a business management degree in hand, the prospect of building a client base, having a flexible schedule, and earning competitive pay—all from home—sounds enticing. My in-laws, who own a well-established Accounting practice, see potential in me. They’ve offered to mentor me post-tax season and even hinted at expanding their business to include an in-house bookkeeper, an encouraging prospect given their extensive client list seeking bookkeeping services.
So, is jumping into bookkeeping at a young age a smart move? The role seems to tick many boxes: flexibility, potential for professional development, and the assurance of steady demand. However, I ponder if this path could be overshadowed by automation or if it might limit my career growth compared to other fields. With that said, I’m not particularly inclined to pursue CPA certification but remain open to the vast opportunities that bookkeeping could lay before me.
I’m at a crossroads, and perhaps like many before me, I’m uncertain about committing to a career that might not align with long-term aspirations or advancing technology trends. I’m reaching out to gather insights from those who have thrived in the bookkeeping field or have witnessed its evolution over time.
I appreciate your time and thoughts if you’ve been kind enough to read this far! Your advice could be the guiding light needed to make an informed decision. Thank you!
One response
Hello, and thank you for sharing your detailed thoughts and concerns. It sounds like you’re at an exciting crossroad with a unique opportunity in front of you. Bookkeeping can indeed be a rewarding lifelong career, especially given your circumstances, interests, and the support network you have access to. Let me break down some aspects that might help you in making a more informed decision.
1. Flexibility and Work-Life Balance:
One of the most attractive aspects of Bookkeeping, especially for someone in your position, is the flexibility it offers. You can typically manage your schedule, allowing you to work around your family commitments and homeschooling responsibilities. The ability to provide services remotely has only increased with advancements in technology, making Bookkeeping a suitable work-from-home career.
2. Relevant Background and Support:
Your degree in business management provides a solid foundation to understand financial principles, which will be beneficial as you enter bookkeeping. Additionally, with your in-laws being experienced CPAs with an established practice, you have a built-in mentor system. This support can offer you on-the-job training, making the transition into bookkeeping smoother and more insightful.
3. Demand for Bookkeepers:
Small businesses, freelancers, and even larger corporations continuously require bookkeeping services. The digital transformation has emphasized the need for skilled bookkeepers who can manage software like QuickBooks, Xero, or similar Accounting platforms. The industry tends to be quite resilient and broad; hence, the job security in bookkeeping roles remains robust.
4. Professional Growth and Earnings Potential:
Bookkeeping is not a stagnant career path. As you gain experience, you could expand your skills in various directions, including specializing in particular industries, offering more comprehensive Accounting services, or even managing teams. While you’ve expressed disinterest in becoming a CPA, know that further education and certifications—such as becoming a certified bookkeeper through organizations like the American Institute of Professional Bookkeepers—can enhance your credentials and income potential.
5. Automation and AI Concerns:
It’s understandable to be concerned about AI’s impact. While automation can handle repetitive tasks, skilled bookkeepers are still necessary to interpret, analyze, and make sound decisions based on financial data. By staying up-to-date with industry trends and adapting to new technologies, you can maintain a competitive edge in the field.
6. Long-Term Viability:
Bookkeeping is not a “dying field”; rather, it evolves with the economy and technological advancements. By continually upskilling and being open to learning,