I've just started doing work on a very small scale as a bookkeeper. I'm finding that expectations from people are more than I feel comfortable with.
In general what are peoples opinions on what you expect from a bookkeeper vs accountant?
My expectations are mainly a bookkeeper takes invoices etc each month inputs it and supplies reports - any advice etc needs to be sought from an accountant. It seems that out there people are expecting more, is this other peoples experience?
This was also my experience. I rolled with it and now offer an all in one service to sole traders. I choose not to deal with limited companies or partnerships.
I found that the first hurdle was that most small businesses didn't really understand the difference, the next was that once they understood the difference they weren't always convinced that a bookkeeper was what they were looking for. I think larger small businesses (if that makes sense) do understand the need, but tend to want bookkeepers working from their premises which doesn't suit me.
Sometimes it can feel like you're between a rock and a hard place and sometimes you either need to go with it and develop so you can offer more services, or concentrate on a different niche.
This is something that I've raised several times in that micro businesses do not want or indeed need a bookkeeper, they need a cheaper accountant and see no difference between the services of a bookkeeper and an accountant (see the current ICB debate as a good example of that).
People such as Kris have countered this by taking their knowledge level far above and beyond their base qualifications.
The issue that you will have with clients is that they will expect you to go beyond what your PII will cover you for into territory where you are more likely to make mistakes and need to call upon the PII.
Generally my experience is that the only remaining pure bookkeeping jobs are working in PLCs or similar businesses in data entry roles that never even get to going as far as trial balance.
I know what Kris means about larger small businesses but my experience with those as well is that the more confidence that they gain in you the more that they will start asking advice and you will feel yourself cornered into answering for fear of losing the client.
All other roles (possibly with one or two exceptions) expect bookkeepers to be cheaper accountants espechially with micro businesses who in my experience see no difference between a bookkeeper and an accountant at all. And why should they, its not as though they are different career paths. Its just a difference in level of complexity of the work.
That basically means compliance work, tax advice, general business advice, management accounts, etc. which some of the qualifications out there do not prepare people for.
You could try doing something like an HND in accounting or the OU certificate in accounting plus some tax specific studies such as ATT.
Thats all quite expenseive but on the plus side all of those should count as CPD for your existing body so would be tax deductible as an expense of your business.
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.
