I know this has been asked in many ways before but I am looking for advice on what to do next. I have a professional Cert in Accounting from the OU and want to take the next steps into working self employed as a bookkeeper. I will try and break my questions down. Apologies for being long winded
1. I can join the IAB as MIAB and then apply for either an IAB Certificate of Compliance or an IAB Practicing Certificate (not quite sure what that involves). Is this worth doing? At least in the short term to get me covered in practice
2. My Certificate gives me exemptions from 3 modules at L3 and L4 for AAT so I could just complete the modules I need to get qualified this route but then how do I get supervised to work self employed? ( I have spoken to Premier about doing this after the recommends on here)
3. ICB seems to be another option, not sure what if any exemptions I get from them I find their website a bit confusing on this. Some people seem to think this is the better qualification for self employed bookkeepers. Does anyone have any advice on this and their exemptions
4. I previously ran the finance for a start up company doing all the books, invoicing, VAT returns, set up payroll etc so I do have experience just not in the last 3 years. There may be an opportunity to go back and work there in a finance role but I would still like to do some bookkeeping for myself. I do have a small preschool that I used to work for who I am seeing tomorrow as I will probably be taking that back on.
So I guess what I am asking is what route do people recommend and why. Also any other hand hints/opinions on which route to take would be appreciated.
I did the AAT then uses this for exemptions for IAB. I chose IAB over ICB as it was a lot cheaper via the exemption route than ICB and if I did want to apply for jobs I have the AAT which most accountancy employers expect.
Both paths covered :)
Also, potential clients will probably not know about ICB or IAB and many won't even ask (if they did I would just say I've completed AAT and licenced through IAB)
AAT keeps a lot of doors open for permanent work plus as its the route that many accountants came from that route if they are looking to outsource work their preference order will be Experience, PQ, AAT and I would go as far as to say that for some roles AAT is prefered over PQ.
If you are IAB or ICB with experience and known in the local business community then that will trump the other qualifications but all things being equal AAT is the qualification to have and as you are exempt from level II and have some exemptions at level III and IV this couldn't be a better time to go down that route as you could apply for a 24+ loan which does not have to be repaid until you are earning enough to service it.
You could of course also go IAB by straight exemption to give you more networking opportunities and as the IAB meetings are also IFA meeting you will be meeting up with accounts increasing the likelihood of getting temp or even perm roles plus perhaps gaining bits of outsourced work.
I would however go AAT first beofre thinking about dual memberships.
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 guys that has confirmed what I was thinking. One last question - if I want to start working as a self employed bookkeper whilst studying can I do that under AAT, how do I get money laundering cover?
yes, provided that you make no reference to AAT in your advertising materials and only offer services that you are qualified and experienced in (bit of a catch 22 there I know) then you would get MLR cover directly from HMRC.
The above said, whether you can and whether you should are two seperate questions as much of the study to make a bookkeeper required for todays market which requires lower level accounting skills for bookkeeping is actuually in the AAT level IV study (I'm thinking here espechially about the tax modules).
Good luck,
Shaun.
__________________
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.
