I've been lurking on these boards for a while and have finally summoned the courage to make a post!
On Monday of this week, I received confirmation that I am being made redundant. It wasn't at all a shock as I'd had a 'tip off' a few weeks ago it was heading my way. Obviously, having the heads up gave me a while to think about what I was going to do. The current position encompasses just about every aspect of office management including payroll, VAT, bank recs, purchase ledger (working with Sage) etc. This is the part that I really enjoy and the direction I'd like to head in.
My question is this: All of my knowledge has been gained 'on the job' and I have no formal qualifications. I am cautious about approaching potential new employers claiming to be a book keeper. My concern is that the title suggests more than I am actually capable of!!
I know I have the potential to go on to bigger things but am reluctant to over sell my current ability. Nothing worse than promising the earth then looking totally blank when someone asks a question.....
The choice of possible training is completely overwhelming and I am totally confused as to what a good starting point would be. Any suggestions??
With what you've said so far you could probably get yourself through the ICB level 1 with just a good book like David Cox Business Accounts. You might even be able to do level 2 like this too. Failing that Ideal School seem to offer particularly good value courses, I think from memory the level 1 and 2 is about £300.
That would be enough to let you start some bookkeeping yourself.
If you're going for self employment then you'll probably be aware from reading this forum you need to comply with the Money Laundering Regulations. This then leads to the first choice - do you go with HMRC or do you down the route of being supervised by a bookkeeping organisation. The main choices here are the ICB and IAB.
If you are looking to work for an employer then the AAT is probably the better route to go down.
If you decide to go for qualifications then the route you go down is determined by what sort of person you are. If you have the discipline to study on your own then a couple of good bookkeeping books should be enough. Just ask for recommendations of which books to go for. If, like me, you don't have the discipline to study on your own then there are colleges you could go to - or take the route a lot of people do these days and go for distance learning. Like Kris above I would recommend Ideal Schools.
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Never buy black socks from a normal shop. They shaft you every time.
I was once told that in applying for jobs, the general rule is: Men say I can do 2 out of 4 I will apply, Women say I can't do 1 of the 4 I will not apply! Job applications are a wish list, so if you see a job that you think you could do, apply. Lots of people want experience and the ability to learn. I don't think you would oversell yourself but may well undersell your skills. No one knows everything about bookkeeping, so if you are asked a question you don't know, it is okay to say so.
As for qualifications, I have taken ICB level 1 & 2 from books and I didn't have any problems. I would be very reluctant to use a training provider again, I can learn so much better and quicker without, providing I can get good books. If you search this forum Shaun has given some great recommendations for books and the ICB has good mock exams. I used ICB because they have exams on demand and I wanted my qualification quickly, as like you I had covered the material before.
As mentioned already nobody in this line of work knows everything and the more that you learn the more you realise that you don't know... And if you did ever get to know it HMRC and the standards setting boards would just come along and change it all anyway.
The experience that you bring to the table counts for a lot in this business and that's what you need to emphasise more than anything else in your CV.
I know that you say that you want to go down the self employed route but whilst working on getting there lets make sure that the bills get paid.
Your experience puts you in a very strong position. I would combine that with reading the follwoing book to get you up to speed for interview questions and to improve your confidence in the job market.
Business Accounts for Bookkeeping and financial accounting courses by David Cox. ISBN : 978-1872962634, current Amazon price £17.47
It's not an "only book you'll ever need" sollution but reading it will do wonders to improve your confidence.
Going forwards I think that your best option may be AAT.
Even studying it opens doors as you are an AAT student with previous accounts experience.
After reading the above book and considering your experience I see no reason that you would not be able to pass the online test and start AAT at level III.
On qualification you do one more year working for others to get your membership and then go for MAAT MIP which allows you to offer accounting services under the AAT flag.
Good luck moving forwards,
kind regards,
Shaun.
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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 have already ordered the David Cox book and hope it should arrive in the next couple of days.
I have a meeting with a local accountant later today with a view to some potential work. All very informal (have been told not to worry about dressing up!!) but it could be a step in the right direction.
I have a meeting with a local accountant later today with a view to some potential work. All very informal (have been told not to worry about dressing up!!) but it could be a step in the right direction.
Hope it goes well, Miranda
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Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
Just a quick update......had a meeting with the local accountant who put me in touch with a client of theirs who was looking for book keeping help.
Was possibly the oddest interview I'd ever had......the business owner talked almost constantly and asked me very few questions. Told me she wanted to carry on with bank recs, VAT returns and payroll. Couldn't help wondering what she actually wanted help for?? Not holding my breath for a call back from that one!!
However, the David Cox book has arrived - so onwards & upwards!
