Hi, I am soon to be out of work and I'm hoping this will be my opportunity to get into accountancy as I wanted to when I left school. I have been looking into courses to eventually set up self employed. If I do the AAT accounting cert level 2, will I be qualified to work as a bookkeeper? I know there is AAT bookkeeping too, however my local colleges don't do any bookkeeping courses and having done an OU course before, I know I learn better in a classroom environment. I intend to follow up with level 3 and progress to accounting, but would like to get a foot in the door and start bookkeeping in the meantime.
I'm assuming that you did the OU course B190. If thats the case that is basically the same course as the AAT bookkeeping course (both had their origins in the EQL bookkeeping course).
I don't think htat either of those courses was intentded as an end in itself but rather a starting point to expand upon.
OU B190 should I believe also give you exemption from AAT level II or if not at least put you in the position to take the skills test in order to start AAT at level III.
You don't actually need any qualifications to set up as a bookkeeper but you are right to look at doing this properly as there are an awful lot of bookkeepers out there so you need to know your stuff in oprder to compete.
you will not gain enough knowledge from AAT level II in order to set up. In fact, once you start along the AAT path you will (I believe) need to become an MAAT MIP in order to offer your services to the public.
If your dream is accountancy have you also considered ACCA rather than AAT with the intention of progressing to an accountancy qualification?
Its hard, it's really, really hard. But if you get those letters you are an accountant whereas AAT does tend to get treated as an entry into accountancy rather than an end in itself.
If you go the ACCA route then provided you either work under supervision of a qualified accountant or the services that you offer are only bookkeeping (bookkeeping to trial balance, VAT and Payroll work. No advice, no accounts, no filing) then you could go that route and perhaps gain enough clients to make yourself of interest to a practice who would take you on as a trainee in exchange for your clients.
Even if you could set up after AAT level II I do not think that you should as it's not enough for self employment.
Your minimum knowledge level that you should consider before going down this path would be either :
- AAT level III
- ACCA first three papers (pretty much the equivalent of AAT level IV and the minimum level employers would consider PQ)
- ICB level IV (MICB)
There are other options besides those suggested and if you came to the table with experience in the field the academic expectations as a starting point would be less (i.e. AICB is fine if you come to the table with prior knowledge and experience).
Note that if you go the ICB route the qualification may not help much with exemptions from any of the accountancy body papers (talking ACCA here rather than AAT) but the knowledge gained at ICB would help towards some parts of ACCA paper F3.
Hope that helps for starters,
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.
Thanks Shamus, that gives me a bit more to look into! I did a maths certificate through the OU,with the intention to continue to a maths degree. Nothing to do with book keeping unfortunately. I had been told at 17 I was overqualified to be taken on as an apprentice accountant, but that if I got a degree they would consider me again.
I will have a look at ACCA as well. I'm aiming to progress to a stage where I can work as soon as I can, as we have two children, but we have a little wiggle room at present so that I can be a bit more career focused rather than working where the hours fit.
ICB will boost your self employed bookkeeper skills and I think it takes 6 months or so to get into practice with them but it is not so marketable, it is more for people who wants to set up in practice by themselves rather than getting a job
ACCA is really hard to finish and as Shaun said at some point it could take up to 10 years to complete. In my own experience after completing AAT I`ve tried ACCA papaer F6 - total disaster failed first exam after 3 hours of studying per day over three moths.
These are just my opinions and here are many members with more experience than me that can advice.
I hope this helps,
Have a good day !
Adrian
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This is just my personal opinion. Advice should be sought from a suitably qualified Accountant.
P.S. I only ride a motorbike because I want to dry my clothes faster
If you did the AAT level 2, you will be able to be employed as a bookkeeper but you wont be able to apply to the AAT for a practice licence. So you cant set up as self employed unless you register with HMRC and have them as your regulator for money laundering. If you want self employment the ICB is the quickest way to get a practice licence so you don't have to be registered with HMRC for money laundering. (not to be confused with registering as self employed)
However, the ICB isn't really recognised by employers, most will expect the AAT, and it isn't recognised by any other accountancy body so you wont get any exemptions from ACCA etc. if you study this, where as you would if you did the AAT.
If just depends on what your goals are. If you want to be self employed and no more, the ICB is ideal. However, if you want to progress to further studies, or be employed the AAT (in my opinion) is the way ahead.
Kind regards
Nick
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
