Bookkeeping is simply the procedure of recording financial transactions, or put differently, a record is made every time money changes hands. Providing you possess accounting or bookkeeping experience and skill, a substantial income can be earned by running a bookkeeping service. Clients will largely consist of business owners that either do not have the time or ability to set up and manage a bookkeeping system for their business. Recent technological advancement has made operating a bookkeeping service very straightforward, as there are many types of small business accounting software available that will not only make your job easier, but also enable you to service many clients at one time. Typically, bookkeeping services charge clients a monthly fee to record and update their financial records on a regular basis. Averaged, this fee translates into $25 to $35 per hour.