Tips and Tricks for New and Would-Be Accountants

For new accountants, or for those who wish to someday join the accounting world, several tips and tricks can come in handy. While you’re applying for a new position, looking into an accounting degree, or crafting your new resume, here are a few things you might want to keep in mind.

Forensics Accounting: This is a rapidly growing field that many fledgling accountants might want to consider entering. People who enjoy partaking in investigations, seeking and interpreting clues, and solving puzzles might be interested in becoming forensics accountants.

Record Keeping: Seasoned accountants know just how important record keeping is! Maintain a clear, organized system for every piece of paper you file—and be sure to keep track of every paper trail, no matter how many clients you have. Even when clients claim to keep records themselves, it’s often a good idea for you to keep a separate copy—if not for their benefit, then for your own.

Consider Part-time Work: In tough times like these, there are less people who are willing to spend money to hire people to track their finances—even if that is something they truly need, which they often do. If clients are willing to hire part-time accountants, consider accepting multiple jobs while you’re starting out. Keep seeking full-time clients while you establish yourself and gain experience through your other clients. Part-time jobs can often become full-time ones as well.

Establish a Clear Contract: Get boundaries, responsibilities, and expectations all in writing and agreed upon before signing any contracts or opting to work for anyone. This is especially important when working for friends and family, who might take advantage of you and your expertise. It’s okay to give loved ones discounts if you prefer, but be sure that you are fairly compensated for your work.

Manage Your Own Finances: Be sure to keep your own bills and records in order as well as your clients’. You may even wish to hire your own accountant if you are able to do so.

Know Your Software: If you opt to use software as many accountants do, be sure you know it well before you use it for a client.

Know the Law: Keep up to date on the latest laws regarding finances. You might consider taking continuing education credits at your local university or community college. This may also make you more appealing to potential employers, as well as flesh out your resume.