Officers, employees, accountants, and other individuals involved in bookkeeping fraud can face charges and individual claims based on negligence, fraud, breach of contract, and breach of fiduciary duties.

High Income Potential There is really no cap on how much money you can earn. Without an income ceiling, you have the potential to earn as much as your skills, efforts, and opportunities allow. Many bookkeepers can start charging $50/hour and build from there.

Yes, a bookkeeping business can be very profitable. In fact, ZipRecruiter reports that the national average income for an independent bookkeeper is $56,100, though some report income as high as $122,000. The cost of doing business is relatively low, mostly related to bookkeeping software, so profit margins are high.

Bookkeeping is something that you either have to learn or outsource when you're running a business. Luckily, it's possible to learn how to manage your own books and there are a few notable benefits to tackling it yourself.