Im going to university, but have some accounts experience - mostly preparing accounts for sole traders/partnerships/ltd companies with no more turnover than £300k. Now, as a part time job, I thought of becoming a bookkeeper.
Any advice would be amazing.
Would I need to work for someone? Could I prepare the accounts from start to finish, the final accounts or would I need to hand them to a chartered accountants to be checked?
My initial idea is...
Lets take a joiner. Hes being charged £1000 by a CAs for his yearly accounts. I say I'll do them for £500. But he also pays the CA a much reduced amount than the £1000 because I am doing the majority of the work, but still pays the CA, say £250, for the finalising of the accounts and any complex queries.
As long as your work is up to scratch then in theory what you've described is about right. Unless you're up to speed with preparing statutory accounts and tax returns you'd be better off passing the last bit over to a qualified accountant. Doing this also increases the chances of referrals from the accountant who may outsouce some work to you.
As long as your work is up to scratch then in theory what you've described is about right. Unless you're up to speed with preparing statutory accounts and tax returns you'd be better off passing the last bit over to a qualified accountant. Doing this also increases the chances of referrals from the accountant who may outsouce some work to you.
Best wishes.
_______________ Sarah
Thanks Sarah, very useful reply.
What sort of figures are about average? For an average sole trader/partnerships account. Ie. Fee for bookkeeper, fee for CA.
Does the bookkeeper keep information on their client monthly/weekly, or just do everything at the year end?
Whats the most common method of a bookkeepers job...do they finalise the accounts or do they pass them onto an accountant?
