I've been working as a self employed bookkeeper and payroll agent since 1990 but have decided that I would like to actually get some bona fide qualifications, starting with AAT.
I work full time, so will opt for distance learning and wonder if anyone can suggest the best training provider to register with?
Any advice would be appreciated, as would an idea of the amount of study hours needed and overall cost.
A few years ago I did think about studying for CAT - am I right in thinking that AAT would serve me better as a qualification when working as a self employed individual?
For self employment either AAT or CAT is fine. AAT is more widely known in the industry and the skills tests set it apart from CAT although that too is an excellent qualification.
If all that you wanted to use the qualification for was self employment then you might also consider IAB. I should also mention ICB but I have issues with their attitude towards their members in practice so would not personally recomend them although your experience of them may be different to mine.
Personally for AAT distance learning I would advise Premier training as they have an excellent reputation and their prices are very reasonable.
If your confident enough ICB, IAB or CAT can pretty much be self taught without a training provider.
If you wanted to go CAT and decided to go with a training provider then Idea Schools would be your best option there.
Hope that this helps,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I'm self taught and have been providing bookkeeping services for nearly 20 years. The reason I looked at CAT a while ago was because all I had to do was pay the examination fees - the actual study part was down to me and I needed full flexibility as I was working full time and beyond.
In that sense I haven't researched the difference between CAT and AAT. I know that for AAT I need to pay for a long distance training provider, whereas with CAT all I need to do is pay for the examinations.
I'm not too keen on the IAB or ICB route as I offer more more than just basic bookkeeping serices and want to expand on that. At present I offer bookkeeping to trial balance, including VAT, CIS and payroll, and tax returns for the self employed.
To be honest, I always thought that bookkeeping encompassed VAT, PAYE & CIS but I have learned over the years that many bookkeepers don't offer all services leaving the client needing to source another provider for their payroll and CIS requirements.
If we stick with the choice being CAT or AAT what would the difference be? Will I be restricted in the work I can do whilst studying or the work I can do after qualification?
I think that your wise to restrict your choices to the two that you have.
No matter which option you take as soon as you sign up there are going to be restrictions on the services that you are allowed to provide.
I think that one of the worst examples of that is where one studies CAT. On completion you are able to prepare accounts and offer tax advice.
If then you decide that you want to go on and study ACCA (which runs CAT) you are then deemed by the ACCA only able to do bookkeeping to trial balance, VAT and Payroll even though until you signed up they were quite happy for you to prepare accounts.
The service that I think you might have to give up from your list until fully qualified is the tax returns for the self employed... Or indeed anyone as tax advice is considered specialist knowledge.
Have a word with AAT and ACCA (CAT) to discuss what services that you currently offer they would permit you to continue should you go for the qualification.
Good luck with whatever route you choose,
Shaun.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
Can I just say that may understanding of the restrictions is that if you advertise ie AAT or CAT etc, you can only practice within their guidelines.
Im already qualified as a bookkeeper with OCR through college which means that I can practice as long as I have PI and MLP. I am also studying AAT but as long as I do not advertise or mention AAT I am not restricted.
I dont know if im right but considering there is not requirement to be qualified or registered with a professional body I think you can practice to what you are comfortable and experienced at.
I've just started a Manual and Sage Computerised book-keeping course run by the Home Learning College... I've been reading thru these forums and it looks as tho it may not be the best choice...ah well too late: I'm going to try and stick with it for now.. I like the course so far.. I was told when I signed up that there are lots of self-employed opportunities for book-keepers and average fee I can charge is around £25 per hour.. After reading some forums, I'm beginning to think maybe that was a bit optimistic?! I'm in South West - Swindon area. Any thoughts or advice or comments from you experienced folk out there would be v welcome! thx
It is possible to make a decent living from bookkeeping and in time to build up a business where you pay someone to do alot of the work for you (but don't pay them £25 per hour!). My best advice to you would be to charge a fixed monthly price, this will normally result in a much higher price per hour rate that could exceed the £25 per hour you have been quoted. The problem is that if you quote someone £25 per hour you won't get the job. There are clients out there who expect to pay £5 per hour despite that being below minimum wage! However quote them £50per month (just over a tenner a week) and they are happy, even if it takes just two hours per week. The other thing is to work from your home/office. If you get a client who wants you to work on site then you have to charge the higher hourly rate as they will know if you have gone after a couple of hours. There are clients who will pay a decent hourly rate but most will think £25 unreasonable. I charge on an hourly rate for just one client and that is at £20 per hour. I pay my main bookkeeper £8.50 per hour but I also use another bookkeeper who is absolutely fantastic and also a qualified ACCA who I pay £15 per hour.
Charging £25/hr is an optimistic rate. I am a little further SW and base my charges on £12.50/ hr but am now working on a fixed fee basis, with an aim to recover at least my basic rate.
I seriously under-estimated with my first two clients and am recovering about £8 from them but have since learned my lesson and am getting about £15 with the newer ones.
As for the opportunities, well they are slow coming but I didn't have a high expectation to start with and never did much to promote myself either. Things have started to get busier though.
Bill
There I was trying to beat our other guru to the post and a dark horse sneaks in under the radar Robney
-- Edited by Wella on Thursday 1st of April 2010 04:35:01 PM
It seems that Adam had been fed the same lies as yourself including the £25 line. Have a read then reply on either that post or this one and I'll fill in any details that you need.
Hi Rob, Hi Bill,
better late than never! I'm just not giving the expected level of service at all today am I !
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
thanks very much for all your quick replies I will check out the link.. Thanx for the tip Rob about charging monthly: I will definitely remember that, (if I ever get thru this course! ) Its in 5 ring-backed folders sent to me by post: I'm half way thru folder 1!
I will check out the link.. Thanx for the tip Rob about charging monthly: I will definitely remember that, (if I ever get thru this course! ) Its in 5 ring-backed folders sent to me by post: I'm half way thru folder 1!
