I know that you get newbies and wannabe bookkeepers like me every passing minute, but I beg your patience. I am Richard and an AAT student doing the technician diploma. I've worked a couple of months for a bookkeeper but that job ended and I wish to set up on my own full or part time since I only have studying to do at the moment. I am doing AAT's Personal Tax and Financial Statements now.
What I am capable of doing is:
Bookkeeping with some year-end journals, Working with clients whose paperwork is a mess(missing invoices, receipts etc), Simple self-assessments, Possibly many other accounting functions if given information what is required, I am comfortable with Micr. Word and Excel, too
What I should do is the following (feel free to advise): Establish what I want and are able to offer in my capabilities What my pricing structure would be Money-laundering registration with HMRC (AAT students are not allowed to register with AAT for ML supervision) Register with ICO because of personal data handling Get PII (forgot to add this) Get a printer and tons of papers if applicable Get a car Establish working conditions with clients(such as Letter of Engagement) and other practices (how do you sub-contract with a firm of accountants/bookkeepers?)
Probably finding suitable premises(I rent a room from relatives)
Establish what software to use (Can you advise me on this topic? I've used Sage 50 and Sage 50 payroll just to transfer payroll information with nominal linking)
So far I have not registered as self-employed, but I am thinking about it. I also read a lot of topics on here and other forums and I am aware that the market is teeming unemployed and self-employed bookkeepers and qualified accountants. I also expect your first thought to be to 'get a job lad'.
Still, I am curious about your opinions. Also, there is no time like the present and I am really an independent minded person.
Thank you for your time Richard
-- Edited by richard2013 on Saturday 4th of October 2014 05:50:11 PM
Hi Richard -it sounds like you are very organised in your plans, who are you planning to get your practice licence with? I don't think AAT will give you one until you have completed level 4, ICB may give you one through exemptions with your qualifications but with restrictions
I am a Sage fan but it is one of the more expensive software and lots prefer VT or similar at a fraction of the cost
Don't worry about tons of paper -most of my stuff nowadays is done via email etc so don't need to print as much off, would you necessarily need premises to start with-if you are thinking for clients why not arrange to meet at a cafe or hotel or their premises (this helps with ML) as a check is you have visited premises-it's a massive expense if you haven't got the turnover
You need to register within 3 months of becoming self employed so not too much pressure there , there are also some good examples of letters of engagement etc up and down on various sites
like the new pic nick. Can I assume that was taken of you swinging Neil around by his ankles (go on, look at the pic now and you'll see what I mean (lol!)).
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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.
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 got rid of the avatar as I couldn't figure out how to upload the logo into my signature, so the logo went as an avatar. Suggestions are welcome though?
Yes David, this is being talked about. I have actually have a AAT Regulation and Compliance board meeting next week where it is on the agenda. However, this is something that the AAT are seriously looking at and I think will have a big impact on the industry.
All the best
Nick
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Nick
Nick Craggs FMAAT ACA AAT Distance Learning Manager
Well, it's Friday. I've applied for icb membership by exception and just submitted the supporting docs. They say the processing might take 28 days. What is your experience regarding their processing time for membership? I hope it won't take years!
