I am hoping for some guidance here im at a real cross roads! & No better place to ask!
I completed my CAT qualifications back in 2008 and more or less went straight to work for my fathers small coffee business. The problem with that is I feel rusty on a lot of the stuff I learnt as it was not really being used, it was just small operation, nothing really challenging! But now my father is closing the business after christmas and I am now left a bit high and dry.
So I decided im going to dive in and try and start my own bookkeeping business! In order to build my confidence & knowledge back up I decided to take on the CIMA business accounting certificate. However being on these forums and noticing that people are memebers of the ICB i had a look and now feel abit frustrated that I am going down the wrong route and perhaps I should be going down the ICB route. Would anybody please offer some guidance it would be greatly appreciated.
Just as a note I have been working in accounts for like nearly ten years now, more than confident with sage and currently I am getting to getting to grips with VT+ I have also got my first client who wants me to do everything! VAT, PAYE, CIS, RECONS, RETURNS etc. The money we agreed I am happy with but it is not a suffuicent full time wage. Hence my diving into a fully fledged service.
Im going to lay it on the line here I could go into a job but i feel I have more to offer but the pressure is growing from my partner who just wants us to get our own place, family, 2 kids & a dog etc so any advice really is more than appreciated. Im willing to work for this.
Whilst I'm in no position to say whether your previous choices have been right or wrong I can testify that the ICB is a fantstic professional organisation to belong to and their qualifications are becoming more and more respected and well known. I am sure that James from the ICB (ICBUK on here) will be along to offer his advice.
Only a suggestion but after refreshing your knowledge with a bit of study, have you thought about temping or part time work? You've got a great qualification and there could be high rewards round the corner with a bit of experience. Start with work that you've been doing in the coffee shop. Then perhaps aim for work in an accountancy practice. The varied experience will equip you for self employment.
I think, Noel, that the first step for you is to decide what you want to end up as (preferably not a headcase like some of us on here!!). DO you want to be a self employed bookkeeper running your own practice, do you want to be an Assistant Accountant in an Accountancy Practice etc etc.
If your answer is my first option then I recommend the ICB but if you want to end up ultimately as a lot more than a self employed bookkeeper (personally I can't see why you'd want to LOL) then perhaps another route is appropriate.
I have plenty friends who are jealous of my self employed status and the fact that I work from home but it is very hard work and not an easy life at all. However it's the right choice for me. You may be different...
preferably not a headcase like some of us on here!!
I resemble that comment!... Sure that you've been reading the Crisp Sandwiches thread.
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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.
Definitely food for thought though much appreciated. I was kind of going for a mixture of both your suggestions actually, start a bookkeeping service and hopefully build it up to be a viable business. A lot of hard work I know but right now the more work the better i guess. Just a lot of questions if im asking myself in regards to the process and procedures of a bookkeeping my business. Primarily the transfer of data and information ie invoices, purchases, receipts etc do I go to clients sites and process there or can i ask clients to post to me if they are further away etc etc.
Maybe I just need to slow down and gain experience first! However this forum is invaluable for learning from others experiences as well!
Yes, there's nothing to stop you studying, touting for work and temping though it might not leave much time to take the dog for a walk:)
As for how client's transfer data, that's often in their court. It can be a case of make the best of what they have, and request the missing bits: bank chq stubs, pay-in books, statements, dividend vouchers, p60's; you name it.
If they are up to speed with record keeping, electronic data etc, all well and good, but otherwise a bit of coaching is in order.
