My current situation is that I had no previous bookkeeping experience before starting my home learning bookkeeping course. I have one client at the moment. I have passed my manual level 1 certificate in Basic Bookkeeping and I have my level 2 manual exam next Wednesday. After taking the next week I am going to continue my level 1 and then do the level 2 computerised studying. This year I am aiming to pass my leve 2 manual and levels 1 and 2 computerised using Sage Instant Accounts.
It has left me wondering what to do next year. I really enjoy studying and want to start something else after passing the exams already mentioned but I dont know what to do. I have considered the level 3 manual, payroll and maybe going the AAT route.
The ambition is that in five years time, I will have both my kids at fulltime school so can work fulltime and offer more to my clients than bookkeeping. By that time I will have the experience and confidence to offer new services such as payroll. Until that time I am sticking to bookkeeping which is what I am comfortable with, but I am thinking that whilst things are quiet on the client front, I am going to study as much as possible so that when the economy picks up and there is more work available, I will have a few more qualifications under my belt. I dont want to sit about waiting for clients when I could be using the next five years to learn as much as possible.
So does anyone have any ideas as to what I could study to benefit me, I have the next 4-5 years so it doesnt matter if its a long course, I just want to use the time wisely so that when my boys start school and free up a lot of my time, I can really get out there and offer a few more services than bookkeeping, although being a fully qualified accountant wouldnt interest me as I do enjoy the bookkeeping side of things and what that to be the main work that I do.
Any suggestions would be greatly appreciated - there are so many different paths to choose.
I should also add that I want to stay self employed and dont want to work for a company.
Is the level 1 computerised with the ICB, it is just I thought that you went from level 1 manual to level 2 computerised.
If you want to stay with the bookkeeping rather than accounting then ICB or IAB (don't know if the IAB cover self employed persons for MLR) but if you want to be self employed then ICB cover you for MLR and can get a practising certificate.
Also think AAT cover for MLR but from what I know AAT covers accounting as well because people use this as a stepping stone to do their ACCA or CIMA.
I would say that AAT can get quite expensive from what I have heard because I think you pay per paper and there are a lot of papers to sit.
Is the level 1 computerised with the ICB, it is just I thought that you went from level 1 manual to level 2 computerised.
If you want to stay with the bookkeeping rather than accounting then ICB or IAB (don't know if the IAB cover self employed persons for MLR) but if you want to be self employed then ICB cover you for MLR and can get a practising certificate.
Also think AAT cover for MLR but from what I know AAT covers accounting as well because people use this as a stepping stone to do their ACCA or CIMA.
I would say that AAT can get quite expensive from what I have heard because I think you pay per paper and there are a lot of papers to sit.
Alison
The level 1 and 2 computerised are both through the ICB. You probably dont need to do the level 1 if you have the manual but I didnt know that when I enroled on the course.
I think that the next route for me at the moment is payroll through the ICB, then the self assessment, unless there are some better suggestions on here. I was just thinking about the AAT route as I have seen a few people on here who are just about to do their manual level 2 but are also doing the AAT, I was wondering what benefit this would be to their bookkeeping or if this is just to get into accounting. So many choices.
From what I understand AAT is a stepping stone into Accountancy. It probably does have an element of bookkeeping but think it is more aimed at accountancy then bookkeeping from what can see on their site.
I'm studing AAT diploma at the moment alongside ICB. I only decided to go along with the ICB qualification due to the practising cerficate. AAT do not let you have a practising certicaite until level 4 (I think). Its very in depth compared to ICB so I think you would be able to offer you clients alot more to be honest. There is an AAT forum for all the students its probably worth a look to see what AAT offers.
I have been studying ACCA CAT course for the last few years and found it very interesting and useful. Will be taking the last (9th) exam next week. It can be used as a step towards full accountancy.
How much as the course so far helped you with the bookkeeping? From what Ami says it has more indepth than the ICB course. Do you think that it is worth to a certain level even if you dont want to progress to accountancy?
Hi Terri, I have been working in accounts for limited companies for over 10 years but I have learned so much more from doing this course. It has helped me with the ICB bookkeeping courses and will help me a lot with starting new business. It is a lot more indepth than ICB. Yes I do think it is worth doing to any level that you feel you can learn from, I have decided to do all levels to advanced to gain the accounting technician status but I have made the decision not to proceed any further with the accountancy side as my objective is more focussed on bookkeeping service. Hope this helps, if not feel free to ask more about CAT. Julie
