Hi, I'm Rachie! For the last 12 years I have been a full-time mum. Two years ago I passed OCR Level 1 in bookkeeping and haven't done any bookkeeping since. Friends of mine started a new business 18 months ago and their accountant has told then to get their books in order. They have offered me the job! The books up to January 2011 have been done through the accountant and I have yet to see these. They now need the rest brought up to date and the books kept each month from then. I would appreciate your advice on what I need to do to set myself up. All I know is that I need to contact HMRC and that there is some scary mention of money laundering! I have Sage Instant Accountants which I purchased through my adult education centre at the end of my course.
I am sure you will get many replies from your post.
First of all your Level 1 OCR qualification will not be sufficient to start up as a Bookkeeper and unless you are used to working with figures and are up to speed with legislation then I would advise you gain further qualifications. You can register with HMRC as a Bookkeeper or join a recognised body such as ICB, IAB or AAT. These bodies are recognised by HMRC and as a member you are kept up to speed with legislation changes as they happen.
To adhere to these bodies membership criteria and to practice as a Bookkeeper you will need to gain more qualifications. The ICB have AICB and MICB membership. AICB members offer Bookkeeping services to Sole Trader and members require qualifications in Level 1 and 2 Manual and Level 2 Computerised Bookkeeping.
Should you wish to provide Bookkeeping services to Sole Traders, Partnerships, Limited Companies and Charities then MICB membership will be required, for this you would need Levels 1, 2 and 3 Manual and 2 and 3 Computerised qualifications.
As you mention in your post that your friends have told you to register with HMRC it sounds like you will be working on a Self Employed basis, if this is the case you will also require indemnity insurance.
If you are total beginner I strongly advise that you become a member of a recognised body this will ensure that you are legally fully up to speed, you are adhering to the Money Laundering Act and should any difficulty arise you have professional help and advice available at all time.
Why not give James a call at the ICB 0845 060 2345 I feel sure he will be happy to explain to you your options.
You can call me on 0800 594 2822 and I will be happy to offer advice on becoming an ICB member.
Also if you can get to London on the 17th 18th November the ICB are holding their Bookkeeping conference which would be perfect for someone like you to attend, again give them a call on the number above and see if there are tickets available.
Again if you only have an OCR Level 1 certificate gained 2 years ago you should NOT start up as a Self Employed Bookkeeper.
Hope this helps.
Dave
-- Edited by TRAINING LINK on Saturday 12th of November 2011 05:59:44 AM
It sounds like you're only thinking of working for your friends and not wanting to launch a new career as a bookkeeper. If that's the case, would they consider putting you on payroll? If so you can be employed as an "admin assistant" and just do a few hours a month working on the books - you'll have to speak to their accountant a lot to get a gauge on exactly how s/he want the books bringing "in order" - although I suspect from what you said, your friends simply aren't very good at recording receipts, etc.
If they want you to be self employed and invoice them then you will have to get supervised for MLR (money laundering) at the very least. When I first heard about MLR I was a little nervy too... :)
As Dave pointed out in the post above there are a whole host of other training options - none of which are "required" but all of which are extreemly beneficial if you want to become a fully fledged bookkeeper. But as Dave also points out, not setting out on the right track could lead to some very sticky complications down the line. If you're not sure, do some more research, then come back to this thread and ask more questions. It's what we're all here for.
Providing independent bookkeeping is a money service business and subject to all of the regulations that go along with it. And there are quite a few. I made a list for a blog I'm writing, here. It might set you on the right track.
Also see this thread. Skip down to post no. 5 by Shamus - he always explains things very well.
I'm sure once he spots this thread he'll have some more advice for you.
Best of luck,
pDm
-- Edited by pDm on Saturday 12th of November 2011 02:57:13 PM
-- Edited by pDm on Saturday 12th of November 2011 03:03:27 PM
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