Manual Level 2 Exam Today - The Book-keepers Forum (UK)

Terri · Senior Member

Manual Level 2 Exam Today

Denise · Senior Member

Well Terri, I think you have done better than me. I started to panic when you got up and went cos you had finished. My worst nightmare happened and I could not get the 2nd trial balance to balance and wasted too much time on it .Then I had to rush through the rest of it and think I made a complete mess of the VAT question. I could kick myself for panicking over the time. I really don't think that I will have passed. I am already expecting I will be back in October.
Denise

Terri · Senior Member

I'm sorry that I put you off Denise, I feel really bad now. I just couldn't sit for another half an hour, I was happy with the answers that I had given, I was really hungry and I wanted to get back on the train and go home. I am sure that you have done better than you think, I think that I messed up on the VAT return myself so I might be back in October myself.

Terri

Denise · Senior Member

Sorry Terri, I did not mean to make you feel bad, Its my own fault. I wish I would have left the trial balance and gone back to it later and then I would have been able to take more time over the rest of the questions. There was only 10 mins left when I started the vat question! As I said I am pretty sure I will be back in October. Good luck to you though.

Denise

Jasper949 · Member

Hi guys, hope you all pass. I had done a couple of past papers before but didn't expect the 1st question to go straight into control accounts, kinda threw me for a second. I got my reconciliation to balance and remembered the chief examiners report stating to start with the bank statement balance. I managed to get all my balances to equal ok but not at first. (I forgot to include the cashbook values initially. DOH). Overall I think I have done ok. Might lose some marks as a few bits got untidy when I started to rush. Fingers crossed and good luck.

Alison · Senior Member

Hi Denise

You will probably surprise yourself and done better than you had thought.

I took the manual level 2 exam in February 2008 with not doing a course, going to one revision seminar in York organised by the institute and turned up to the exam having not been to an exam for at least 14 years. Completely panicked throughout the whole exam, scribbled lots out and started again, not sure if my trial balance or balance sheet actually balanced and was put of by a level 3 student having a 10 - 15 minute argument with the college person which put me off at checking stage. I was convinced I would be resitting the exam another time.

Got results month or so later 70% pass.

Would say that exams in exam conditions makes me go to pieces, I bought the level 3 course in September 2007 not relising that you needed the other levels first, tried the first 2 papers and sent for marking recently, got them back with what right and what is wrong but keep putting off doing any work on it as dread the thought of going to another exam.

Alison

Denise · Senior Member

Thanks Alison,

I was in panic mode all through the exam, its been many many years since I took an exam too. I never even got chance to check through at the end cos I ran out of time. But If I have failed its not the end of the world, there's always October, even though I don't fancy going through that again in an hurry.

Denise

Terri · Senior Member

Denise, like Alison says, you may have done better than you think. It is definately going to be a long month for us waiting to find out. I am not sure how I did, I am trying not to think about it, I was so distracted thinking about my baby, it was the first time that I had left him for more than a couple of hours and thats why I dashed off early, I needed to get back home to him. I wasn't 100% focused and I just hope that I did ok. Like you said though, if I fail, its not the end of the world, I will just resit in October. I can't believe we have to wait a month to find out - that is such a pain :) Someone on here told me that sometimes the results are earlier than a month on the website so I will check that a week or so before the 10th July. If I have to wait until then though, I think that I will check the website on the day after as the 10th is my wedding anniversary and if Ive failed, it will ruin my anniversary.

Denise · Senior Member

Hi Terri,

Its always hard the first time you leave your baby ( its all you can think about). So to have to do that on an exam day must have been hard, but I am sure you will have passed, so don't worry. I am sure you will have something to celebrate on your anniversary.

I kept going over the exam paper at home yesterday and saying to my husband "I think I did this wrong, I think I did that wrong". In the end he took the paper off me and send "Forget it now, your starting to do my head in. Its does not matter if you pass or fail, I am proud of you anyway". So I have decided to try to forget about it until result day.

Denise

Terri · Senior Member

Thanks Denise.

Your husband sounds like a wise man. I did exactly the same thing last night, I think that I filled in the VAT return wrong as I didnt know how to account for the bad debt but like you say, better to forget about it and wait to see what happens

Terri

Bubsy · Veteran Member

Hi Guys

I really needed to read your posts today. I sat my mock exam for level 2 bookkeeping last night and I panicked after spending too much time on a particular question. I really dont think I did well.

My question is - does anyone have experience of studying and working full time. I do not work in an accounting environment and so i dont get to practice on a daily basis. My feeling is that the more pracice I get from doing pass exam papers is the only way to make it sink into my brain.

Because of last nights disaster (slight exaggeration i know) I really nervous about taking the real exam on 24th June.

Any studying tips and suggestions would be greatly appreciated.

Bubsy

Denise · Senior Member

Hi Bubsy,

I only work part time (5 hrs a day) so I have had a bit more time to study than you, and I work in a very small company doing a bit of everything (although the bookkeeping is done by computer so getting manual practice is a lot harder). So really I should have done better yesterday but like you I panicked. I would say doing the past papers is the best form of revision. But I also went back over the course work in the week or so leading up to the exam.

I would say with regard to the exam, if you get stuck on a question i.e like me I could not get a trial balance to balance, I would leave it and carry on, so you are not rushing the rest. If you have time you can then go back to it. You would probably only loose a few marks, but rushing through the rest you would probably loose more by making silly mistakes. Which is what I think I have done.
Good Luck

Denise

Terri · Senior Member

I don't work full time in a job but I am a full time mum to two small children and I have no previous experience of bookkeeping prior to starting the course. I have one client at the moment but I dont do anything for him that came up in the exam. I practiced using past papers and I was able to have a good go at the exam so I am sure you will be okay.

Terri

Raven · Member

Hi - I work 30 hrs per week (6hrs per day) and have a million other things that take up such a lot of time, you wouldn't believe!!!
I'm studying the AAT Certificate part-time at college and have had to make time to complete homework, but it's really paying off. I had a simulation last week and got 100% and excellent feedback. The scarey bit is still to come though..! I have the manual bookkeeping exam on Monday, but I have my fingers crossed!
If I pass, I'll return to the college in September to do the Advanced Certificate. I'm loving the course - I'll miss it during the summer, but may take something else to fill in the time.

KR
Raven x

Terri · Senior Member

Good for you Raven, sounds like you are doing really well, I hope that you continue to enjoy your studies and do well in your exam. I am debating at the moment whether to do AAT myself or to continue with the ICB. Sounds like you are enjoying it, good for you.

Terri

Alison · Senior Member

I work 6 days a week 8am - 6pm or sometimes later.

I was attempting to complete ICB level 3 exam, but have only found the time to do 2 of the course papers and sent them in and have not got round to reading through the tutors notes.

Was considering studying AAT but realistic cannot see finding the time.

Sometimes I feel like going back to employment where you work 9am - 5pm then down tools and go home. Not like that when you run own business sometimes you end up working long hours.

Alison

Marky65 · Guru

Hi Alison
I hope that you don't mind me telling you this but DON'T DO IT.
My wife and I used to run our own caering business for 7 years which we had to give up for health reasons just over 15 months ago, I then went out to being employed thinking that it would be great to just do 9-5 and have no real worries, how wrong was I, I just didn't enjoy it so here I am running my own outsourced accounts office I might only have a couple of clients so I am not at all busy but I am so much happier being my own boss and growing something for myself.
Regards
Mark

Alison · Senior Member

Hi Mark

I don't mind you telling me that.

I probably would not be able to go back to being employed having run my own business since August 2006.

Took a massive jump December 2008 in what was doing, was working from home nice comfortable amount of hours with a lot of spare time August 06 to Nov 08 to running an internet/gaming cafe, IT franchise, continued bookkeeping (except unfortunately lost some clients in this recession - pub industry clients and one other so bit of a pain), second hand books - in internet cafe as well as two online shops so complete different lifestyle which sometimes means I feel like the more relaxed lifestyle I had for 2 and a bit year.

Alison

Marky65 · Guru

Hi Alison
Wow that was a bit of a jump, but I can see where you are coming from going from a relatively easier lifestyle to one that seems pretty full on. I am sorry to hear about the clients you have lost, this obviously helps explain your posts on another forum where you sensibly tell would be bookkeepers to exercise extreme caution before they make the leap (I know, i was one of them).
Good luck with all of your businesses
Regards
Mark

Bubsy · Veteran Member

Hi again Terri

I pressed the button too quick. What I wanted to ask was at what stage did you feel ready to take on a client. For instance, if I pass my level 2 book-keeping do you think it's appropriate to take on a client at that stage or should I wait until level 3. I feel confident enough to take a client now but only doing work which involves the basics of level 2.

Bubsy

Terri · Senior Member

I started after I completed my manual level 1, I thought that there was no point sitting around for 3 months waiting for my exam results in for the level 2. I was honest about my qualifications with my client and we are getting along fine. I didnt feel ready or have the confidence to do it but I thought to myself that I would never have the confidence and if I waited until I did, I would never start. For me, if I pass the level 2 exam, it wont boost my confidence, only working experience will do that and it I'm honest what I have studied so far, is nothing like the work that I am doing in the real world. I found the Bookcert kit much more accurate as to what would be expected of me from a client. I hope that makes sense, it is very early :)

Terri

Alison · Senior Member

Hi Bubsy

Would say that if you don't feel confident in yourself it will make it much harder at potential client meetings in gaining them as a new client.

Not only is a client interested in any previous experience and qualifications he is interested in someones confidence, if that does not come over in the meeting that may go to a bookkeeper who does have that confidence.

I thought about becoming self employed in 2002, went to a chamber of commerce/business link training day for those considering becoming self employed but in end just did not feel confident enough in promoting, advertising etc.

I finally became self employed in 2006 by this time I had 14 years bookkeeping experience (got made redundant 3 weeks before wedding and my then fiance did not give me much choice, he got me contacts, built me a web site all in the few weeks before wedding, I even got my first client and because had taken on a temp job was working Saturdays as well. Had another client lined up for return of honeymoon.

Would say for anyone thinking about becoming self employed bookkeeper, who does not have any experience and does not feel confident would say best thing would be to get a job in a accounts department (not that large a company as large companies break it down so people end up only doing one type ie just sales ledger, or just purchase ledger, or just payment runs.) if it is a smaller company you get all round experience. Would say ideally if someone got a job in an Accountants firm they get experience of many different industries which helps self employed bookkeepers as you can tell clients you have experience in many different industries.

Good luck

Alison

Terri · Senior Member

I would say that you gave some great advice Alison, unfortunately getting a job wasn't an option for me as I have a two year old and a nine month old to look after and the whole point of bookkeeping for me was the flexibility to work and not have to put my kids in care.

Getting my first client was nerve racking but l don't think that my lack of confidence came across to the client as he had no hesitations and is happy with my work. He understood that whilst I didn't have a lot of experience, everyone has to start somewhere and just because I didn't have years of experience under my belt, it didn't mean that I couldn't do the job.

I guess that what I am trying to say is that setting up as a self employed person with no previous bookkeeping experience is tough and it makes great sense to work within a financial environment to build up your experience and confidence, but if like me this isn't an option for you, don't be put off, it may be a harder route to take, but stick with it and if you work hard enough, it will pay off.

Terri

Bubsy · Veteran Member

Thanks Terri/Alison

Great advice. Unfortunately, I am not prepared to give up my day job (it pays very well) to go an work in an accountants office for half the salary so I am thinking more of going down the route similar to Terri and gradually gaining experience by taking on small clients/friends.

Im hoping that over time I will eventually be able to work less hours at the office as I build up a small client portfolio (enough at least to allow me to give up working at least one day in the office).

I'm so amazed at the different routes others have taken and yet it all works out in the end.

Thanks again.

Bubsy

Alison · Senior Member

Hi Busby

I am assuming that your job is not bookkeeping/accounts related.

Obviously if it is you will be gaining experience when you work there.

Alison

PS If you were thinking about getting clients as well as would advise you speak to your employers that you are doing so, I know some employers can stipulate in contract that you only work for them (someone once told me that the reason they do it is that they don't want employee getting tired working elsewhere and not working to there capabilities in their job because they are tired)

Lisa0912 · Member

Hi Terri

I too have children at home and am hoping to start bookkeeping from home when I qualify. It's still early days for me I'm just studying for the level 1 manual bookkeeping. Just wondered how long it took you to do the level 1 before you felt confident to sit the exam? I could do with practising on some past exam papers to get a better feel for it. Have you done the computerised courses aswell? I was planning on just doing level 1 manual then level 2 computerised, do you think this will give me enough knowledge to start taking on clients?

Lisa

Alison · Senior Member

HI Lisa

Would say level 1 manual and level 2 computerised qualification wise is good, but would say that experience is just important. As a self employed bookkeeper in real day life bookkeeping is very different to exam based bookkeeping.

Would say if any bookkeepers who are going to become self employed bookkeepers with no experience first because of not having any choice because of having to be at home to look after children or any other reason the best type of client you can get is recommendation from an accountant of their clients so if the client brings up something with the bookkeeping you are unsure of and you build up a good working relationship with the accountant as well as the client then most of the time accountants are happy for you to email them so they can answer it when they have the time.

Alison

Terri · Senior Member

Hi Lisa, I started doing the level 1 manual on 26 February 2006 and got my certificate on 20 January 2009, I do feel that I could have completed it much sooner however, as I took about a month off when I moved, about 5 months off after suffering a personal loss and then took about 6 months off at the end of my last pregnancy and into the first months of my baby arriving. I am about to start the computerised level 1 and 2 within the next few weeks. Before I start that I need to get my clients records up to date as I am working on 3 years accounts at the moment (current and two years previous).

Terri

Alison · Senior Member

HI Terri

Thats a fair bit of work your new client has given you.

Some of my first clients were like that, it was a balancing act when to promote to get new clients as I found I did not want too many of this type of client at once because of the workload and meeting their expectations. Luckily I managed to time it ok and as I was getting to the end of the old work for one client, would take on a new client with backlog of records.

It went fine until 1 year after I set up my business and I had got all clients up to date and was not getting as many new clients as before, took I part time job 3 days a week and was there a year when got too busy with clients again.

Would say being self employed bookkeeper is really erractic business to be in - you get some months when you are so hectic you can hardly cope and some months so quiet.

In January I worked many many hours and earnt in one month what I normally earnt in 3. Then goes erractic again with hardly anything - losing 3 clients because of the recession - pub industry.

Alison

Terri · Senior Member

Luckily it has worked out great for me Alison as he is my only client at the moment so it is good to be earning a bit of money and I feel that its giving me a lot of experience. I am now working alongside an experienced Accountant so feel much happier now that he is involved as I can direct any questions to him. I wouldn't want too many clients like this one all at once though, like you said, it would be a major juggling task.

I think that what makes it easier for me at the moment is that my husband earns enough to support us. I am working part time at the moment to gain experience so that in three or four years time when my boys are both at school/nursery, I can concentrate on earning a bit more money. It is nice to start my business without the pressure of having to make a living from it and a good job really as I would be in a lot of trouble if I had to pay the bills from it. It seems like a hard time for a lot of people at the moment in the bookkeeping area, especially for new starters like myself.

Terri

Alison · Senior Member

Yes it is a hard time for bookkeepers at the moment whether they are existing bookkeepers or new starters.

HM Customs are not helping, when I was telling my mother in law about me losing clients she mentioned that she heard on the radio that HM Customs are going to be making VAT returns easier for people to manage their own VAT returns online and guidance on their bookkeeping online. This means that companies who are making cut backs may start doing their own books and VAT return which is not good for bookkeepers.

Alison

Terri · Senior Member

I am sure that things will pick up given time, then maybe a lot of redundant workers with trades such as plastering, plumbing, joinery etc will have the opportunity to set up as self employed and bring some work our way. And I guess that even if VAT returns are being made easier for people to do them themselves, there will always be the wonderful people who hate doing paperwork :)

Terri

Lisa0912 · Member

Thanks for all your advise Alison and Terri, how would I go about working alongside an accountant?

Alison · Senior Member

HI Lisa

The best way to work alongside an accountant is when you are ready to get clients write to them with your CV (including your ICB or other qualifications) introducing yourself. Sometimes accountants if you don't have any experience may give you some of their current work as a trial run and check this through before they start introducing you to their clients who are looking for bookkeepers.

Alison