This is mainly I guess for practising book keepers and book keepers setting up on their own at the moment. Are there any things that you regret, wish that you would have done better or wish you would have known. Just thought that your experience would be a great help to people like me just setting foot on the book keeping path. Maybe an example like you wish you wouldn't have paid a lot of money out on a bookkeeping software package - and then found out that you could have worked just as easily using an excel based cheaper package - or maybe you regret not having an accountant or taking on a too many clients before you were fully up and running etc. Thank you in advance for sharing your wisdom with a newbie like me
Ok, I know that I'm not a qualified book keeper but I wish I would have ordered bookcert before I spent £800 on a study from home ICB course. I thought that I wouldn't get any business without recognised book keeping qualifications. I am definately going to order bookcert - it has great reviews on here. I am sure it will aid my ongoing studies
I wish I'd starting insisting on payment by standing order earlier. It has made such a positive difference to my cash flow, especially over the past 6 months. Would recommend it over standard invoicing.
I started out by doing all my clients books manually. Then I found Sage and now use it for all of my clients. The problem was transferring from the manual records to Sage. Not impossible but there were a few niggles at first. I'm aware there are cheaper (even free) alternatives to Sage, but for me I find it ticks all the boxes.
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"People who are exceptionally good in business arent so because of what they know but because of their insatiable need to know more"
I wish I had asked more questions. Sometimes I would struggle on a problem by myself because I felt a bit stupid asking the Accountant such basic questions e.g. how to handle a certain type of transaction, so I would leave it to year end and it would be even harder to resolve. I force myself now to deal with all issues as soon as they arise. Oh and changed to an Accountant who is more than happy to pick up the phone and advise me.
Also I would have liked to have discovered the payroll database I found online much earlier, payroll used to cause me sleepless nights and late penalties! and now its a doddle.
I thought I was the only one who felt stupid asking the Accountant things, I used to leave it until the last minute and suffer sleepless nights too.
It was only when I left my previous employer that the Accountant said that I had done a great job over the years and he would really miss how efficient I was !
