Introducing myself to the forum for the second time. I had to re-register my e-mail as my previous account didn't exist apparently. This time I'll introduce again and ask for advice. Thank you in advance for advice offered. And yes I have read through the forum. Useful tips and funny as well!
Joanne welcomed me last time.
I'm Nick. Started working in August 2017 as a part-time Accounts Assistant. I've decided to commit to bookkeeping and accounting as a life-long endeavour. I don't think you'd ever stop learning so I'm not looking for short-cuts or quick fixes. Just hard work, enthusiasm and passion. And attain AAT up to level 4 first.
I'm in my 30s so it is a different path to take but I'm really enjoying it so far.
MY wife has inspired me as she has studied ACCA and been down the same path as me. But she's much further ahead than me.
As mentioned in my previous December post I'm first self-studying towards AAT Level 2. Taking time but slowly understanding the basics. Will take AAT first test soon. Don't see the point in wasting money unless I'm secure I can pass.
First to explain, although I have been working part-time as an Accounts Assistant I don't feel my experience has been enough. Worked since last August to now. Self-study has helped me somewhat. My aim is to work full-time in another Accounts Assistant job but I don't feel my current experience and knowledge is enough.
I use Xero in my current work to create sales invoices and Excel for inputting invoices and bills. Beyond that? I don't know enough to explain it. My boss runs and manages a group of large restaurants in the UK. She prefers Excel for all her accounting work. She wants me to input all purchases for restaurants and calculate VAT for quarterly VAT return. I also inputted a silly number of purchase invoices dating over 2 years into Xero but as said she does not want to use it for her company. (Xero) I am told a profit and loss statement is created through the Excel sheets I work on.
I have sent my CV (which I've been told needs changing by my wife to suit accounting jobs) but haven't been successful in many interviews yet. One interview had a limited accounting aspect only. Not sure if that's an age or experience thing not hearing back. Is it necessary to first pass AAT Level 2 or 3 before employers will take my CV seriously? I have a passion for accounting and enjoy it but I'm looking to increase current income by finding a full-time job.
I would prefer to work first for several years before trying to work as a sole trader as I don't want to make a pigs ear of someones accounts. What's a good way to gain further experience aside from self-study and working out questions in books on paper? Set up as a sole trader and try my best? Keep applying for Accounting Assistant jobs and look for that opportunity? Buy an existing bookkeeping business or franchise or clients? Network and ask someone to give me more experience working for them?
Not interested in complaining but looking for reasonable ideas. Sometimes asking outside helps more than struggling by yourself.
Although my wife understands accounts better than I and studies ACCA she says she doesn't have the energy to help me learn better. As she works full-time I understand.
I know not everyone says thanks or responds on the forum so I'll try my best to respond and thank helpful comments.
Not sure why you would input two years worth of anything in anywhere, given the Accounts need closing off at the end of each financial year, but hey I'm sure it was good experience.
Can't blame her for not wanting to use zero smeero for such a job, especially with more than one restaurant. I would suggest other software for such a job, but non subs based to keep the cost down.
Get experience before you set up your own Accountancy practice (or you could lose your house and children when sued!). Whether that business is a sole trader or a limited company! Don't run before you can walk. A lot of folk think they can just set up on there own when they have level2. But you cannot serve customers well, nor correctly with such little knowledge. It's the vat and tax knowledge that clients want you for, not your basic inputting skills, plus Accounatnts want accuracy of posting from bookkeepers so they don't have to re-align everything into the correct accounts/nominals/categories for the accounts.
Listen to your wife when she mentions the CV. Spend time sorting it out or you won't get responses, but be prepared for a lot of rejection. I say this to all AAT students, perseve and something will crop up, but you may have to do a hundred apps. I would suggest you wait intil you have at least level3. Think about it, the employers have a pool of thousands of level 2 students who are still babies (as in age, rather than experience), who will work for next to nothing, so as a maturer bod you need to differentiate yourself. Do-able and firms do appreciate it. It only takes one to show an interest, it's just finding that one. Use your wife's contacts. Use anyone's contacts.
Never ever ever buy any kind of franchise, never mind a bookkeeping one!!!! The only person you are making money for is the franchisor.
Probably not covered all of your Qs but as you say you've trawled the site and found some yourself.
No point reading all of the posts, many are completely out of date, even some of the less technical responses. But if you want to cure insomnia then that's your challenge for the day!!
edited to correct some typos and clarify a few bits (hopefully)
-- Edited by Cheshire on Tuesday 20th of March 2018 06:53:17 AM
__________________
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
If you get stuck with your studies and your wife is too exhausted to help, sling your Q on here, although be warned we do expect students to have a go at answering. Doesnt matter if you get it wrong, as long as you attempt it - best way to learn in fact in my book.
Which course provider are you with?
__________________
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
Got an interview last week for accounting apprenticeship job. Didn't get it but still studying AAT and looking for more jobs.
Have exam Level 2 next week.
Thanks for the previous advice.
Got an interview last week for accounting apprenticeship job. Didn't get it but still studying AAT and looking for more jobs. Have exam Level 2 next week. Thanks for the previous advice.
How did the exam go?
__________________
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
