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shellie


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Starting out
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Hi
I was just wondering on a few details that I have heard and hoped someone could give me the correct info please.
I am newly qualified in both computerised and manual book keeping, and I was informed that to practice at home I would need to be a member of either IAB or ICB, and then I would need to apply for a certificate of practice and also insurance.  I also spoke to a fellow book keeper that I know and they have neither of the above mentioned.  Do I need to have all of the above for me to run a business at home?

Hope some one can help.

Thanks

Shellie confuse.gif

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pcmanu


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Hi Shellie, I don't believe you need any membership in fact i get the impression you don't need any qualifications!
Membership would no doubt give you credibility however I'm a great believer in the quality of work that counts.
I've just qualified myself and am looking to start up working from home on a part time basis and hopefully build up from there. If you don't mind me asking what is you plans for your client year ends? Will you calculate the tax yourself or are you setting something up with accountant(s).
I wish you good luck.
Paul

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shellie


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Hi Paul


I did talk to the ICB as that is where I am taking my exams, and asked him the questions I asked above like membership and practicing certificate, and he said that from June this year the HMRC are going to crack down on people without practicing certificates etc. due to the money laundering that has been going on in the past. So anyone caught without the certificate will be dealt with - not sure if that means huge fines etc.

So I think for the sake of a £100 pounds or so to be a member plus get a certificate of practice I will get the right paperwork first, rather than face huge fines if caught and knowing me I will be the one to get caught out!!

What are your plans with the year end? I think maybe until I become a little confident, to get an accountant to do it and maybe they may run through it with me a few times and then do it on my own when I know how it all works out, I know my worry is that I would have calculated it all wrong and not given the tax man enough!

Good luck

Shellie

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pcmanu


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Just been reading about the money laundering regs and you are definately right about registering. I qualified through AAT, unfortunately though you have to be a full member with them ot come under their supervison so I will have to wait a couple more years for that. So I will just go directly through HMRC - Cost £95 annualy but at least I will be legal.
As with year ends I'm in the same boat as your self, so likewise I will use an accountant to start off with. Have you approached any yet? I'm interested to know what the set up is i.e charges etc. Would like to think you will get a discount if you are giving them regular business!!!!
What is your marketing plans? Will you be advertising locally, Setting up a website......

Paul

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shellie


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Defiantly worth the money registering with someone. i am going to go through either the IAB or ICB both I am able to not sure which is the better one, the IAB is cheaper to become a member.
Yeah I would like to think that the accountants will give some sort of discount if you use them regular!
I will definatly advertise locally, not sure about a website, not really good at that side of things, giving out business cards to friends and family they may not need someone but they might know someone who does, all word of mouth.
What about you? You said you are going to start part time, what is it you do now?
I work in a bookies so I have already had some interest through customers that come in, so we will see where that leads.

Michelle

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pcmanu


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I thought about a website initially as a good way if getting myself recognised and the awareness, however might be trying to run before i can walk so the jury is still out. I'm hoping local advertisement and word of mouth will get me started.
I currently work in van sales so i do visit a lot of small businesses so i might start going in with 2 business cards (discreetly of course)
What have you got planned for software because i must admit that has been an eye opener. The cost for the likes of sage are very expensive especially for multi companies which being a bk you will need.

Paul

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shellie


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Hi

Software wise I am probably going to go with SAGE only because that is the soft ware I am currently using and have used for my exams, I only have one user sage at the mo, and I have looked into the cost of sage multi users which I will need if I want more than one client, the cost from this can vary new you can get them for near a £1000, ebay is of course a lot cheaper, but I might go through the book keepers club that an accountant friend told me about and they can offer me up to 10 users for £443 and this I can pay for monthly ie £43 per month and I also get full support from them for a year. there is no interest on the payments and in 10 months the software is paid for, but I will still have the support from the book keepers club. There is only one problem with sage I have found and when you do the manual book keeping if it does not balance then you know def there is a mistake somewhere so you will look for it until you find it! but with sage the books will balance very time! so you don't know for sure that you have got everything correct. I would be good if it did not balance then you know you have gone wrong, if there is a soft ware out there that does that I am signing up!
What about you any thoughts on software? did you learn on one in particular?

Shellie

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pcmanu


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I trained with Sage like yourself. I've been trialing one or two that were recommended thru various forums. One is Kashflow, This one i believe is very good if you are up and running, as a bookkeeper you would register for the partner program £600 p/y but everything is done on line so security and backup is very good. The other side to this one is you can buy additional licenses at £50 p/y - these licences would cost an individual business £150 for 1st yr then £99 p/y thereafter so it's up to you if you want to put a mark up on plus you can customise it with your own logo's etc. This would offer your client the benefit of going on line and viewing his business. www.kashflow.co.uk they offer a 60 day trial. I'm also looking at a much more basic program call VT transaction, because it is basic i do like it a lot, does everything sage can offer, even better it is free until September http://www.vtsoftware.co.uk/
I should be on commission!!
I think once i go full time the Kashflow program offers a lot of options to benefit the client and me.
This is going to be a very cheeky question but how much are you planning to charge and by how? Hourly/monthly etc

Paul

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shellie


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You should be on commision!!! Never heard of Kashflow will have a look at their website later.
It is not a cheeky question thats what everyone wants to know, how much you going to charge. Well I know alot depends on where you live etc. I have spoken to a friend who is a book keeper and she has been doing it for a while now and she charges £15 per hour. She recommended that I start at £12 per hour and go up once I have been at it a while which seems sensible to me. She also said that she is very busy all the time and the fact that she has just moved to a large five bed house is a good indication!!
I have heard that some people charge per item not sure how that works exactly. I am going to charge per hour though.
Have you contacted local book keepers in your area to find out how much they charge and how busy they are etc. some will tell you without you prentending that you are looking for a book keeper other will not tell you on the phone and will recommend that you meet for a consultation before they give out their charges, but if you are honest with them, the worst they can do is say no.
The programs you mentioned above do they tell you that the balance sheet does not balance or do they balance regardless?

Shellie

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pcmanu


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That is a good guide Shellie on those hourly rates. Don't know the answer to the balance question however I know Kashflow has an excellent support team and you will get a quick reply from them. I would also recommend this website http://www.uksmallbusinessforums.com/vb/index.php
An excellent forum for starting up new businesses also a good network as you will see from some of the threads.

Paul

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Maria Beaton


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Hi Shellie

I am just starting out as a book keeper and am trying to find a good deal on sage software.  I was interested in the book keepers club you mentioned as paying monthly would be a great way to cut out some of my start up costs.  Could you let me know a website address or contact number for them.

Thanks

Maria

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shellie


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Hi Maria

I have pm'd you.

Thanks

Shellie

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