I'm new to this forum, and have spent a bit of time reading. I hope I might get some advice on my next step
I am considering a getting bookkeeping qualification. I am self-employed, and offer various administrative services to clients, mainly small businesses and sole-traders, a kind of freelance Office Manager or a virtual PA. I already do some basic bookkeeping, and have been lucky enough to learn on the job, for one particular client. I have been doing cashbook entry, bank reconciliations, management accounts, invoicing, and last year with help from a more experienced Finance Officer, bringing the accounts to Trial Balance. All in excel.
I'm not exactly thinking of a moving to purely book-keeping business, but I think it would be an extra string to my bow, potentially more lucrative, and perhaps in future might become my main business. Because of my existing clients and contacts, I think I will find clients. It would also of course be useful for running my own business.
I am considering the OU course Introduction to Book-keeping and Accounting. It seems good value for the level you get to. I have been reading about the IAB/ICB, which both seem useful bodies for the self-employed, and I can see there are different opinions about which is best, but I imagine in my circumstances either would be of help. Though I also read that membership of a professional body may restrict me too? I also read here someone's advice to read some recommended books before spending money on a course, and I will take that advice.
My reasons for wanting to do some training are two-fold, one to better learn the principles to give myself more confidence, and two to give potential clients confidence. I seem to read that I don't need a qualification to do what I am considering, which is offering bookkeeping services as part of my other services, but I think it would be useful.
Would the OU course seem like a good idea in my circumstances? Would I be better off just reading a book and somehow learning Sage and/or Quickbooks? Would IAB/ICB membership be useful? Any other advice?
I hope this isn't too long winded, I appreciate your time.
Thank you.
-- Edited by Birdsong on Friday 27th of July 2012 11:07:24 AM
-- Edited by Birdsong on Friday 27th of July 2012 11:13:03 AM
Re the B190 OU course, as someone who was on (and have now just completed) it, I have previously posted its "Table of Contents" which might give you an idea if its content is something which you would find useful:
Given that you are considering IAB/ICB membership, it's exemption to MIAB level upon a pass might be something that would be of interest. It's been said on here already that IAB or ICB memberships are good for those who are self-employed, as you have seen.
I found the course interesting and the study advisors were very helpful. It was also quite intensive - other students were saying that it was more like a 30 point course, and some students certainly had difficulties - but you do have the option to do it in twice the time. With your experience it seems that this would not be necessary for you.
I'd certainly recommend it as an option to consider, although I have no experience of taking professional body exams directly to compare it with.
I also did some book-based pre-study to get ahead of the game before the course started. I used "Mastering Accounting Skills" by Margaret Nicholson, although only got about a third of the way through doing all the activities before the course started, and found that doing this helped get the fundamental concepts practiced before getting stuck in to the detail. But perhaps you already have a decent amount of previous knowledge in any case.
