Another newbie who has stumbled onto this forum whilst searching google!
I am Faye, I work as a Finance Manager for a recruitment agency. I fell into book keeping almost by accident and discovered a love of numbers. After joining as a PA who did a bit of invoicing and credit control I now manage the company finances and work closely with the Accountants. I studied Book Keeping from home via Pitman to mainly give me an understanding of the job I had fallen into.
Perhaps you can guide me to where I can ask my question about going from a paid employee to a consultant basis as I am due to move house which makes regular commuting out of the question?
Just BOMBED with work at the mo, so a quick one Im afraid.
Im not aware of the Pitman bookkeeping training so have no idea to what level you are trained so would ask - what kind of services are you aiming to provide? Bookkeeping up to Trial Balance with an Accountant taking over to complete the rest, as it seems you have done already?
A couple of things for you to consider and do a bit of digging on. You will need to get
MLR cover - can get from HMRC or if you join a bookkeeping/Accounting body you can get via holding their licence (but you may need to complete their training first, depending on which body you are looking at). MLR is legally required, without it you can be fined and/or imprisoned, so whatever you do sort that before taking the first client on.
PII cover - not a legal requirement but you would be crazy not to have it. Lots of companies provide cover, some more extortionate than others, as I found out talking to another newcomer to the industry recently. Shop around. Consider http://www.bookkeepers.network/bkn-pii-scheme
Next major thing is to consider what software you will be able to use. You will need some for clients who dont have any, but dont be prescriptive as this just means you are missing out on a chunk of the market place. Also think on that you will most likely be using clients own software - either from home or more likely at their premises so its about how you upskill yourself on the main ones available. I would consider looking at VT software - there are essentially what I call three levels, basic cashbook (usuful to give small clients), then VT Trans+ which you will find useful and is really cheap compared to most others and gives you unlimited customers for the same price. Then the Accounts package which enable you to do final accounts so you shouldnt need that. You can have a free trial - think its 60 days. It doesnt look great, looks very old fashioned to be honest, but its a great bit of kit and used by lots of Accountants to do their final accounts even when they use other bits of software for their bookkeeping. Then there is other perpetual licence based software - Sage 50 (expensive but a great bit of kit!) plus Quick Books (a good mid priced one I think). Lots of others too inbetween. Or there is cloudy. Be careful with this - there is a lot of stuff on here about it, so suggest you have a read of some old posts.
In addition, consider doing the AAT program - great body to be part of plus when you get to be a full member with a licence you can produce final accounts. In addition you will find more work comes your way from Accountants with this qualification, as opposed to other qualifications out there. You should be able to start at Level 3 with your background rather than level 2 - you can try a skills check on their website.
Lots of other things Im sure to cover off -how to get your first bit of business amongst them - have a route round. I would say for some articles you can go right back to day one of this site, but usually suggest you keep to the last 12months especially on the practical/law based etc side.
HTH for starters
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
