I've been reading through the forum and there is some really good advice on here so thought I would ask for some of my own!
I am AAT qualified and have worked in Finance for the past 11 years, starting on AP then on AR and am now Assistant Management Accountant. I've decided that I want to be a self employed bookkeeper but don't really know where to start.
I am tied into my current employment until May as my company paid for my AAT qualification, and I realise that I will have to juggle doing both until I have a number of clients. So I was wondering if anyone can offer me any advice on what I can be doing now whilst i'm in full time employment to get started? Quite vague I know, but I hope some of you have been in my position and can tell me what i need to know!
I hate to answer a question with a question, but sometimes Im a rebel! Are you working for a firm of Accountants? If so - you need to check your contract very carefully to ensure you arent going to run up against a non compete clause, which may mean you cannot set up with xx time or xx miles (or both) of who you work for now.
If not, then you are ok to do so.
Use your time to do some of the following in no particular order:-
Get your licence - MAAT MIP
If not getting the above, get your MLR via HMRC
Get PII cover
Businessplan?
Network, network, network.
Dont spend money on marketing. Sorry I know this is a 'do' list but had to throw that dont in!
Do some voluntary work - the books for a small local charity or some such
Ask anyone and everyone you know for work and referrals, including existing work colleagues
When you get that first client and they start to get to know your work, ask them for referrals.
If you have any dealings with local Accountants, start talking to them about farming out work to you.
Some may say you need a website ( I never had one, have been going for 4+ years and have too much work) so if you want one get that set up properly.
Decide what services you are going to offer. Is it just bookkeeping up to TB? Or beyond?
Read the VAT Guide 700 and all the rest/VAT legislation as the AAT doesnt touch the surface and you will get many many queries about this area.
Consider doing a tax qualification eg ATT
Start reviewing software to be used via free trials, starting with say VT Trans+ (read up on this site why this is suggested)
If you are considering specialising then read up as much as you can via HMRC manuals/guidance/case law/sector information etc
Consider if you are happy to work totally from home/office or are also willing to work from clients premises.
Sure there are are a few other things you can add, especially if you have had a good wander around the site.
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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
Thank you so much for your reply!
No, I don't work for a firm of accountants, I work in an accounts department for a pharmaceutical wholesaler, so I haven't done any actual bookkeeping for other companies, which is why my question was a bit vague...I feel like I need to shadow a bookkeeper for a few days to get a feel for what goes into it!
I will certainly follow you advice though. I just need to get on a roll!
