Help! wanting to be a self employed bookkeeper need advice please?

malibu_stacey87 · May 12, 2010

Hi all,
I am wanting some advice and a point in the right direction. I am 23 yrs old and have recently passed my level 3 sage accounts and am wanting to become a self employed bookkeeper, so that i can work around my family.
Will my sage qualification be enough to do this? or would i need i higher qualification ie AAT advance accounts technician??
also im not sure whether to go self employed straight away or to join a firm of accountants, so that i can build up the experience behind me before going self employed. Im not sure which would be the best option.
Any advice would be much appreciated.
Thanks
Stacey x

MyAccountantOnline · May 12, 2010

Hi Stacey - if you do a few searches on here you will find a huge number of similar posts this is almost a weekly question.

Good luck

elaine@cheapaccounting · May 12, 2010

Anyone can set themselves up as a bookkeeper or accountant.

The things to ask are:

- what can you offer?
- who will your target clients be?
- why will they buy from you as opposed to the hundreds of other around?
- etc

Good luck

orry.clayton · May 12, 2010

Just to expand on what elainec100 has said. If you are to become an accountancy service provider, which book-keeping is part of. You will need to have a supervisory body that will cover you for the money laundering regulations.

As this is only my second post on here, I can't send you any links to the appropriate pages on the HMRC website.

A quick search for "HMRC ASP" in any search engine should bring up the correct page for you.

Kind Regards
Orry Clayton

elaine@cheapaccounting · May 12, 2010

here:

http://www.hmrc.gov.uk/mlr/index.htm

plus you must be registered with ICO

semsley · May 12, 2010

With only qualifications in computerised book-keeping I would not set up as self-employed but rather try to get some part time work either within an accountancy practice or a small business to gain experience. Real life book-keeping is not like what is taught to gain exams passes. Good luck in whatever you decide.

gouldie0 · May 12, 2010

Why not try the link in Elaine's signature?

elaine@cheapaccounting · May 13, 2010

gouldie0 said:
Why not try the link in Elaine's signature?

Thank you for noticing - I will be launching this officially in June. I hope it will be of use to many. The number of posts on here on this very subject inspired me to put it together. Based on the fact that I set up my own Practice and I help each of my new Associates to do the same, I think I cam talk on this with a little authority.

MyAccountantOnline · May 13, 2010

elainec100 said:
Thank you for noticing - I will be launching this officially in June. I hope it will be of use to many. The number of posts on here on this very subject inspired me to put it together. Based on the fact that I set up my own Practice and I help each of my new Associates to do the same, I think I cam talk on this with a little authority.

I spotted it too and would just like to say very best of luck with it

Their is certainly no shortage of potential business.

You are clearly one of the rare breed of accountants who refreshingly know how to run a business as well

elaine@cheapaccounting · May 13, 2010

Nicola J said:
I spotted it too and would just like to say very best of luck with it

Their is certainly no shortage of potential business.

You are clearly one of the rare breed of accountants who refreshingly know how to run a business as well

Thank you very much for that. What lovely feedback from a fellow professional.

I think most that know me here are aware of how 'passionate' I am about what I do.

The aim of Set Up A Practice is to try to help those setting out to understand that it is not just 'doing the work' but a huge list of other tasks as well that make up running a Practice.

If anyone has any ideas for marketing the new site (on the cheap or free of course

) then give me a shout.

MyAccountantOnline · May 13, 2010

elainec100 said:
If anyone has any ideas for marketing the new site (on the cheap or free of course ) then give me a shout.

What you need is a supply of leaflets ready outside of the ACCA offices in London and hand them out to all the newly qualifeds taking their Practice and Orientation Courses before they get their PC's (I assume they still do that it was a few years ago for me!) - it's free

I am sure you've already thought about it, but what about running a series of articles in some of the professional magazines. I think a well written article in something like the AAT or ACCA/ICAEW magazines would be a great oppurtunity to get the name out there. Articles like that make great reading and can be extremly helpful.

No idea if you can get them but will any of the professional bodies give you a list of newly qualifeds who have just applied for their PC's?

People looking to become bookkeepers often come here so that ones easy!

I'll send you my bill later.....

Jenni384 · May 13, 2010

malibu_stacey87 said:
also im not sure whether to [...] join a firm of accountants, so that i can build up the experience behind me before going self employed. Im not sure which would be the best option.

Stacey, in an ideal world, this is the better option. One of our bookkeepers joined us being qualified but not very experienced. She keeps commenting how different real life is to study! If you're supervised you have support and you can get to grips with how these things work in the real world without being on your own, and you can ask someone if you are unsure. Remember also these are real peoples' books who are relying on you to get their figures right - it's a responsibility. This is why all professional institutes/associations demand experience as well as exam passes before admitting students as full members.

However, this isn't an ideal world and if you're confident then it's possible to set up as self employed straight away. If you choose this route, I'd reallly recommend you find a mentor as there will always be things that crop up to which you don't know the answer and having a helping hand is invaluable. See above regarding responsibility.

Whatever you decide, good luck.

Elaine, love the new website idea - good luck with it!

malibu_stacey87 · May 13, 2010

Thank you for the advice and links to to different websites, i am going to have a look and read through them.
Many thanks
xx

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Help! wanting to be a self employed bookkeeper need advice please?

malibu_stacey87

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orry.clayton

elaine@cheapaccounting

semsley

gouldie0

elaine@cheapaccounting

MyAccountantOnline

elaine@cheapaccounting

MyAccountantOnline

Jenni384

malibu_stacey87

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