I've been keeping a low profile lately and watching all your posts with great interest. The reason for my silence is that I have been pondering whether or not to start a bookkeeping business or not. I had some great advice from Shaun and others a few months back and so I've finally made a decision to go ahead and jump in at the deep end so to speak. I also get a little daunted when I read your posts as I feel a little inadequate compared to where you guys are because you all sound so knowledgeable.
I have decided (now don't all berate me for this) to do bookkeeping for free for a friend of mine who has recently opened a new beauty business as a sole trader. The reason for the free service is that I do not feel confident enough yet to work for anyone else except a friend and I can also register this as volunteer work with the AAT (qualified AAT this year) as part of my experience which will help towards me becoming an AAT member in practice (eventually). So rather than hide behind the scene on the forum I am taking a leap of faith and jumping in with questions that may seem so obvious to all you experienced people.
My question is that I wonder if someone would be willing to assist me with understanding the BKN software. I plan to use the BKN software because its free and my friend will only have sales on a cash/cheque basis only. I have not used any software (briefly touched on Sage during my AAT training about 2 years ago) and really don't have a clue. I understand manual bookkeeping better. My questions are:
I assume I bypass the label sales invoices as my friend is working on a cash basis only and so I would only have to enter the cash sales into the income label?
For all expenses I would then use the payment label?
For the bank reconciliation what should I be putting in the blue columns when I finally do a reconciliation. Also, as my friend has very little sales at the moment should I be doing the accounts on a month by month basis or quarterly.
If anyone would be willing to contact me by personal email or even telephone let me know and I will pass on my email address.
Now that I have taken the plunge to do my friends books I am actually excited and really want to do a good job for her.
sorry, I don't know what software your referring to? Do you have a link.
kind regards,
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.
I bought the Bookcert kit a while ago but have never seen a Bookcert free spreadsheet?!? Any chance of emailing it to me as it may be better than the one I created myself?
Email is clare@brutonyoung.co.uk
I assume BKN will have no problem with that if it is free?
Thanks
Clare
My advice: use a manual cash book and ledger. You don't need computers till you have lots of clients.
(You can then practice on the BKN spreadsheet knowing what kind of results you want by comparing them with your books, and if it comes out all wrong, you can easily clear the data and start afresh without ruining your manual records. When you are more confident, you can switch over to the spreadsheet if you want to.)
Also, importantly, ask your friend to sign a letter agreeing that, as you will be keeping her books for free, no contractual relationship will exist between you and that she places no special reliance on your professional abilities so that she will remain ultimately responsible for the accuracy of those records and for the use she makes of them.
