For the last four years my business partner and myself started up a company (flying school), we were. both commercial pilots and instructors before hand. My circumstances charged and I had to move away from the business location and reduced my shares in the company as I slowly did less and less work.
I did all the bookkeeping, payroll, marketing etc so the work load in actual flying was split 70/30 until we brought in self employed pilots.
I had no formal qualifications in bookkeeping and was all self taught using sage instant accounts and there online payroll software. At the end of the year I would send all books to our accountant who would submit it them. I found it quite enjoyable and learnt a great deal as I managed the cashflow etc. We had students in credit, loads of receipts daily, multiple invoices and many clients from large corporations such as Groupon etc. After two years are turnover forced us to register for VAT and again I self taught that myself (wasn't too difficult).
So my question is, what would I need to do to start my own business managing peoples books like I did before? Would I have to gain formal qualifications? I understand there is insurance, ML fee, marketing etc I would like to target small limited businesses in the local area.
Hi James
Just done a response to someone else that might fit some of your questions. Have a look here http://forum.bookkeepers.network/t62872921/hey-all/?page=last#lastPostAnchor
Anything else you want to clarify just stick on as another question or tag it on the end of that post, whichever is easiest.
Welcome to the forum or the madhouse as I call it!
Love planes, fast jets yep, great big A380 tyes yep, but not those tiny ones that feel like a rollercoaster when you are in them. Hating rollercoasters probably doesnt help, but neither did falling a LOOONG way in an air pocket in one of those things a few years back. Sure you will find this job much less adventurous! But occasionally almost as challenging.
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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
Hi James Just done a response to someone else that might fit some of your questions. Have a look here http://forum.bookkeepers.network/t62872921/hey-all/?page=last#lastPostAnchor
Anything else you want to clarify just stick on as another question or tag it on the end of that post, whichever is easiest.
Welcome to the forum or the madhouse as I call it!
Love planes, fast jets yep, great big A380 tyes yep, but not those tiny ones that feel like a rollercoaster when you are in them. Hating rollercoasters probably doesnt help, but neither did falling a LOOONG way in an air pocket in one of those things a few years back. Sure you will find this job much less adventurous! But occasionally almost as challenging.
Thank you for the link, will have a read now.
Haha, I was teaching on small single and multi engine aircraft but also dropped skydivers off which was fun!
Even the thought of skydiving is making me go cold!!
Hope you aren't going to give that fun up when you take on this job.
Actually, what a great thing to do if a client is being awkward.....shove them out of a plane!! With or without the shute depending on how bad they have been.
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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
I had a read of your post. Is it mandatory or just strongly recommended to do the qualifications? I feel the only thing that would really benefit would be some training of different software packages as I have only used Sage Instant Accounts and not VT, Quickbooks etc.
Love planes, fast jets yep, great big A380 tyes yep, but not those tiny ones that feel like a rollercoaster when you are in them. Hating rollercoasters probably doesnt help, but neither did falling a LOOONG way in an air pocket in one of those things a few years back. Sure you will find this job much less adventurous! But occasionally almost as challenging.
Sorry, but I can't resist, and it's been a while since I last told one.
Simple and Simon were in a bi-plane when they suddenly ran into trouble. Simon shouts, if this thing tips up will we fall out?
No said simple, we've been mates for years
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
