My name is Roxanne and i am interested in setting up a bookkeeping service from home. I have no experiance but seem to have a skill with sorting through finances (although it is only sorting out my partners finances and getting him straight hehe).
I have tried looking into it but finding it all a bit confusing as what i need. Would the following qualifications be enough to do it?
ICB manual bookkeeping level 1
ICB computerised bookkeeping level 2
ICB computerised bookkeeping level 3
If there is anything else i need please could you inform me as i dont want to study the wrong courses and miss others out.
To get the ICB qualifications you now need both manual and computerised. When i set up i was very similar to you. I did the ICB level 1 and 2 then setup my business. It was slightly more difficult having no industry experience, but i guess it means you can approach the business management side of the business in a different way to other bookkeeper and accountants.
It does mean though you need to be extra careful with the bookwork and it will take a bit longer to begin with.
Welcome to the Forum and good luck with your new venture. ICB have a two tiered membership system in place. These are as follows.
AICB This requires qualifications in Level 1 and 2 Manual Bookkeeping and Level 2 Computerised Bookkeeping. This membership is designed for those who want to provide Bookkeeping services to Sole Traders and Partnerships.
MICB This required qualifications in Level 1, 2 and 3 Manual Bookkeeping and Levels 2 and 3 Computerised Bookkeeping. This membership is designed for those who wish to perform Bookkeeping services to Sole Traders, Partnerships, Limited Companies, Charities Etc
ICB have Level 3 qualifications in Self Assessment and Payroll as well which of course are other services which could be offered. Should you feel you need to clarify anything or need more information call the ICB directly on 0845 060 2345 and I am sure they will be happy to help as will we all on this forum
Good Luck Dave
-- Edited by TRAINING LINK on Monday 10th of September 2012 07:12:28 AM
excellent advice above but if I can just add from a different angle that what you are about to enter into is lifelong learning. The courses are the first step but by no means the end of your journey.
The real benefit of being a member of a supervisory body such as the ICB or IAB comes after you have passed their qualifications in the support network that they provide for establishing your business.
Sure that you've seen the posts on the site about recommended training providers of which Dave's company above always appears high on the list.
If you want to search anything up on the site I tend to use Google by entering
site:wwwww.book-keepers.org.uk -mobile
Then follow that with your search criteria such as best training provider.
If your serious about this the ICB are having their annual bash at the Savoy in November so why not pop along to chat and mingle. You wouldn't be the only one there just starting out and attendance could give you a real insight into what you are getting into.
The only words of warning that I would issue are that this is a business with a lot of competition and it can be very difficult to find clients so take any advertising blurb that you read about unlimited earnings potential with a pinch of salt.
Once established you can make a living from this business but getting to established can be a real uphill struggle and you need to be prepared for periods where you are spending more than you are getting in (Licenses, insurances, memberships, etc.).
The downsides aside, certain people take to the demanded mindset of this business like a duck to water and if you are amongst them you will be a success to the point where you couldn't imagine yourself doing anything else... Those people tend to end up the success stories rather than the statistics but you also need to be able to link your skill to marketing your services in order for your business to thrive.
Think that we've covered all of the basics. Ideal and Premier will both be along imminently I'm sure to welcome you (two more excellent training providers)
Keep reading this forum and join in whenever you feel that you wish. Looking forwards to chatting in the coming months as you set out on your journey.
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 really recomend that you do the manual course as well, as not only is it a requirement of the ICB, but you need to know what your accountancy package is doing behind the scenes. Not really knowing leaves you open to not being able to spot errors, and not knowing the double entry to correct it.
The payroll is a nice extra to have as not all bookkeepers offer that service and it will make you stand out, but i would focus on the bookkeeping side for now.
Regards
Nick
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
payroll is a nice extra to have as not all bookkeepers offer that service and it will make you stand out, but i would focus on the bookkeeping side for now.
Morning Nick,
I knew that Premier would be along imminently
On the Payroll side I wouldn't invest in a course until RTI has been implemented as will implement fundamental changes to Payroll processing.
Considering the timeframes for filing of RTI I forsee a lot of bookkeepers dropping Payroll and a return to small payroll companies... Used to be quite a few around in the 70's and 80's but they all seemed to die out in the UK.
Over in the states there seems to be hundreds of them and it's very common practice for bookkeepers to sub contract Payroll work to them,
Talk later,
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.
Roxanne, I know you've contacted us directly so I won't go over again what you need, or don't need, so set up on your own as a bookkeeper. The information you've received from this post will also be really helpful. You've got a big decision to make and you are doing the right thing in carrying out as much investigation as you can. It's important that you get a provider & package that suit your requirements so don't hesitate to get in touch with as many ICB Accredited colleges as is necessary (link provided below). There will be one that suits your needs and I wish you well with your studies, regardless of which route you take:
