Im part qualified acca and I am thinking of starting a book keeping business from home but just dont know where to start from. I have lots of questions and feel really silly asking some of them!! I have contacted HMRC and ACCA but they just seem to confuse me even more!!
Is anybody already in the field who can guide me. Some of the questions I have are:
Do I need a pract cert?
what software to use?
how to market and build clients?
rates to charge?
What other legal criteria's need to me met?
Help and guidance will be very much appreciated!
sabah
-- Edited by Sabah on Wednesday 27th of April 2011 11:10:42 AM
There are quite a few PQ's on here (myself amongst them) and so this is a regular cause of much discussion. From recent threads have you read the following on what the ACCA will allow you to do? It's quite frightening reading which goes well beyond the contents of regulation 8.
Rather than answering your questions immediately have a read of all of the above and then let us know your thoughts and we'll continue with your questions from there.
Talk in a bit,
kind regards,
Shaun.
P.S. What papers are you going to be sitting this June?
__________________
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.
Im part qualified acca and I am thinking of starting a book keeping business from home but just dont know where to start from. I have lots of questions and feel really silly asking some of them!! I have contacted HMRC and ACCA but they just seem to confuse me even more!!
Is anybody already in the field who can guide me. Some of the questions I have are:
Do I need a pract cert?
what software to use?
how to market and build clients?
rates to charge?
What other legal criteria's need to me met?
Help and guidance will be very much appreciated!
sabah
-- Edited by Sabah on Wednesday 27th of April 2011 11:10:42 AM
Hi Sarah,
As already mentioned, have a read of those other threads and see if your questions are answered.
A practice license is issued by whichever body you register with. For example, initially I registered with ICB and obtained my license through them (and also MLR governance). I then discovered that the license from ICB does not cover tax advice or self assessment so I moved to IFA who now govern me form MLR and issue my license.
Software, I think, is down to personal choice and cost. I was lucky that I received Quickbooks free from Barclays (and I also love Quickbooks anyway) so that it used for all bookkeeping. I use PTP Accounts for producing financial statements (very easy to you) and I use TaxCalc for SA and CT.
How to market and build clients? Perhaps you can tell me how to do that. My clients have grown by word of mouth predominantly and a few networking events but have a web site, get you name out and keep it out there. Twitter and Facebook are good tools.
Rates: you need to look at what is being charged in your area currently. Problem is, if you undercut too much, clients won't come because they think you are no good because you charge less - go for about 10% less than your competitors.
Other factors are obtaining professional indemity insurance, obviously MLR, notifying HMRC etc. Normal business related items. Maybe public liability and employers liability if you have staff.
