Welcome Louisa

To add to John's response:-

louisajones1 wrote:

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Hello

 

I have over 15 years experience working in accounts.

Covering all aspects of Sales Ledger, Purchase Ledger, Bank Reconciliations, Cashflow forecasting & payroll upto 120 people p/month.

Last year I gained my AAT Qualification.

Currently I work full time as a Nominal Ledger controller, but would like to start doing bookkeeping as a side line initially evenings/weekends and in time reduce my hours as my full time job - if all goes well even - well lets see

 

But - WHERE DO I START???     How will you manage working 7 days a week, until the point where you can give up your full time job?  Plus also keep up to date on CPD and do any further exams?  For every hour you work, you will probably spend as much doing research at least for the first few months, which of course cannot be billed to a client

 

A local restaurant advertised on Indeed for a bookkeeper for 15 hrs p/month flexible, which would be ideal.

I sent my CV & they called me for abit of a chat, but didn't hear no more.       I wouldnt worry too much about that. Restaurants and cafes are generally speaking a  nightmare to look after.   I would hazard a guess that the rate offered was pretty poor as well!

I'm not surprised I didn't really know what to say or what to ask       

 

I don't know if I'm overthinking it, but want to come across as professional, so hear are my concerns:

 

Do I provide the software? If so what?

I've looked at Xero & QuickBooks for Bookkeepers, where you can have multiple entities on one software but couldn't see much information or pricing.    Why only zero smeero (rubbish) or QB? What about others?   I agree with John - look at VT. Doesnt look all bells and whistles but a good and very cheap bit of kit that doesnt require you to keep on handing over ever increasing amounts of cash to them for nothing (much) new.   Plus they are transparent on pricing unlike the two you mentioned.  My view is slightly different to John's here in that I never restrict the software on offer to clients, not if I want their business (although Im choosy as to who I take on anyway and not afraid to say no to the pain clients or eghigh volume users wanting me to use a slow software when I can offer then a quicker alternative which overall keeps their costs down!).  Im of the view that if you pay a licence fee then pass it on to the client, so they pay for it anyway. 

 

What if clients insist I use the same software package they are used to? above

 

Should I get letters after my name? Currently AAT Affiliate member is it worth paying extra for AATQB? or apply to be a AAT Licenced bookkeeper?   You CANNOT use the 'AAT' in your marketing, advertising UNLESS you have a licence. So as John says - go for level 4 (see part about sole traders and tax anyway further below), or stick with AATQB and get that licence or go it alone and get your MLR cover via HMRC, BUT remember that you cannot then reference the AAT (or you can be expelled, fined etc by them!).   Care though as you say you have no experience of sole traders/VAT so your initial licence will not cover you for that anyway, until you have sufficient signed off experience.

 

What normally happens? Do you meet client every so often for them to give me all their Invoices/Bank Statements/receipts etc? Per John

 

Do I need to register with ICO?  Per John. Also you will need a written GPDR policy doucmented within your engagement letter (new ones not available until end of this month unless its been pushed back, in which case separate documentation for this is required anyway, as both data controller and data processor)

 

Would I need Professional Indemnity Insurance?  CRUCIAL if you dont want to lose what assets/cash you have now when a client sues you. Which Is the best?    Depends on your circumstances. Shop around. Dont go with the cheapest. Get the best cover as with any insurance. We cannot advise.

 

Haven't had much practical experience of Self Assessments/VAT returns - Where can I go to get more advice on them? You cannot get extra 'advice' on them. You need to get experience - so do some work for a local practice if you can. If not, then you need to at least complete level 4 AAT for some grounding (but will still need experience for the MAAT licence, catch 22!   BUT I would suggest also that you look ast tax legislation as that is generally all sole traders are interest in!   For VAT - read the VAT guides (all of them!!!!!!!  plus the VAT Act itself. Again - you need to get some experience, so volunteer somewhere)

 

I'd appreciate any help or advice anyone could give me

 

Louisa 

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 Everyone seems to think that going it alone is easy.   if you are happy working 7 days a week then go for it, but as I said remember that a massive chunk of that will earn you nothing for a ood few months as you learn new systems, processes, do CPD, etc etc. Good luck if you go ahead, but consider carefully getting some practice experience first as that will stand you in better stead than anything you have done so far.

Oh and you cannot do payroll under the AATQB licence.

Hi John
Sorry, I shouldnt have assumed on the software restriction bit, especially knowing that you are the software testing king. Blame it on the heat!!!! Although thats a feeble excuse as Ive been using a clients offices because they are cold...yep goosebumps last Friday as it was starting to heat up, to the point where I and one of the staff had to go and sit on a wall in the sun for 10 minutes to heat up again. Great in this weather, not so good in the winter!

Hope you have big windows in your office and you are enjoying the sun!!

Liking the doormouse pic!

Oh bloody hell, good spot Doug. I was beginning to think we had a non responder, so glad thats not the case (although we have another who posted on the same day!)

Apologies Louisa for thinking that you were AAT level 3 - the mention of AATQB threw me. If you are going for a licence go for the full MAAT, but accept you will be restricted in some areas until you get more experience perhaps, as opposed to the (even) more restrictive AATQB one.

Am not sure if your other suggestion would be a goer. Unless perhaps you get get yourself in with some of the local Accountants who want someone to fly in to sort a mess out, albeit usually the mess would usually encompass other things as well, from experience.

One thing that might be worth looking, not via an AAT licence, but instead getting MLR via HMRC, is offering payroll on a white label basis. Since the advent of pensions some folk, myself included to some extent, can no longer be bothered with doing payroll. Plus its a bit tying, especially if its weekly. But something you could do as a sideline for other bookkeepers.

Good way to earn a reputation and then post here/get jobs from users of this forum is to answer any payroll queries that crop up and show off your knowledge. That will be a slow burner, but combined with other approaches might be one to consider.

Cheshire wrote:

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Oh bloody hell, good spot Doug. I was beginning to think we had a non responder, so glad thats not the case (although we have another who posted on the same day!)


One thing that might be worth looking, not via an AAT licence, but instead getting MLR via HMRC, is offering payroll on a white label basis. Since the advent of pensions some folk, myself included to some extent, can no longer be bothered with doing payroll. Plus its a bit tying, especially if its weekly. But something you could do as a sideline for other bookkeepers.

Good way to earn a reputation and then post here/get jobs from users of this forum is to answer any payroll queries that crop up and show off your knowledge. That will be a slow burner, but combined with other approaches might be one to consider.

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 Hi Joanne

I missed it until I saw Doug's post (thanks Doug)  I too thought Louisa was level 3 as the AATQB threw me as well.

That's a good suggestion you've made to Louisa about payroll.  Personally I'm quite happy to do the pension side, it's just a bit of extra admin work. I've got a weekly one coming up that's currently in postponement (just one employee) so maybe I won't be quite as enthusiastic then!