working from home doing bookkeeping

Discussion in 'Accounts & Finance' started by donna, Sep 1, 2006.

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  1. Alice3537

    Alice3537 UKBF Newcomer Free Member

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    Quick question!

    If I wanted to study toward a book keeping qualification with a view to starting my own business, would I be better to do this through the I.C.B. or I.A.B.? And why?

    Thanks!

    A
     
    Posted: Jul 21, 2007 By: Alice3537 Member since: Jul 9, 2007
    #21
  2. imanji

    imanji UKBF Newcomer Free Member

    1 0
    Hi just to jump on the back of clarence, can you also email me regarding setting up a bookkeeping business??
     
    Posted: Jul 21, 2007 By: imanji Member since: Jul 21, 2007
    #22
  3. lockie

    lockie UKBF Newcomer Free Member

    1,386 313
    One thing im curious of is why would someone pay £600 for a bookkeeper when some chartered accountants charge less ? I use a chartered account for a lot less than £600 and he saves me a lot of money too.
     
    Posted: Jul 23, 2007 By: lockie Member since: May 4, 2007
    #23
  4. Philip Hoyle

    Philip Hoyle UKBF Ace Free Member

    2,246 1,088
    Funny you should say that. I've one client who uses a local book-keeper just for their payroll. The charges are extortionate - £50 per month for around 6 employees paid monthly - we'd do it for probably a tenner a month and do a better job as there are often mistakes. In fact, we don't charge £600 per year for their year end accounts and tax returns and they're a limited company - the book-keeper offered to do their year end work "for as little as £1000 per year". Unfortunately, the book-keeper is a friend so there's no talking to them!
     
    Posted: Jul 23, 2007 By: Philip Hoyle Member since: Apr 3, 2007
    #24
  5. frauke

    frauke UKBF Regular Free Member

    398 52
    Alice,

    I don't know about the I.C.B. but do about the I.A.B. (as I have done their qualifications).

    I choose IAB, because I had good access to tutors, and good local support. In my case it was a choice between IAB and AAT at the time, and I thought the IAB course was more relevant to the type of work I was already doing, and intending to do.

    I don't know if that helps.
     
    Posted: Jul 23, 2007 By: frauke Member since: Jul 13, 2007
    #25
  6. frauke

    frauke UKBF Regular Free Member

    398 52
    Most of the book-keepers I know, don't just do the books. Many also do the invoicing, a bit of credit control, pay the bills ....... Even if they don't they usually update the client records at least once a month (or once a week).... They fit their work load around the client, rather than the client around them..... I think that why sometime it looks like they are more expensive.... I know as an accountant, if I provided the same work in the same way it would cost a lot more.
     
    Posted: Jul 23, 2007 By: frauke Member since: Jul 13, 2007
    #26
  7. Alice3537

    Alice3537 UKBF Newcomer Free Member

    1,869 111
    Thank you for the response, Frauke, much appreciated.

    Does anyone else have any views? Or does it not really matter?

    Thanks!

    A
     
    Posted: Jul 23, 2007 By: Alice3537 Member since: Jul 9, 2007
    #27
  8. Kirsty St John

    Kirsty St John UKBF Newcomer Free Member

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    Hi
    I'm on maternity leave right now and looking to set up just like Alice.
    I did a Pitman bookkeeping course years ago and ws about to refresh
    which is recommended - ICB or IAB ??
    I'd hate to get started on the wrong one !!
    the links from ICB seem to lead to companies that do IAB !!

    thanks,
    K
     
    Posted: Jul 27, 2007 By: Kirsty St John Member since: Jul 27, 2007
    #28
  9. David Howard

    David Howard UKBF Newcomer Free Member

    9 0
    Book keepers are great! We run an accountancy firm and approx 3 years ago got into book keeping. We have a few book keepers who go to clients and prepare the books for us/update programs etc. We give them the necessary training so if the client has queries, they come to us if the book keeper cant answer on site and we help.

    It also helps with accounts at the year end as book keepers normally do the job we say, do a good job, and doesnt come back a mess!

    I reckon anyone thinking about book keeping, go for it. Normally they can charge per hour (West London they can probably charge between £8-£15 depending how good they are and can probably get more if they know more!)

    I see a couple of posts talking about they have done a years experience and reckon they can do accounts. That im not sure about. I have done my ACCA qualifications and there is a lot more you pick up, which you wouldnt pick up in book keeping so that I would probably say dont do.
     
    Posted: Jul 31, 2007 By: David Howard Member since: Jul 31, 2007
    #29
  10. frauke

    frauke UKBF Regular Free Member

    398 52
    As mentioned before I don't know about the ICB qualifications, but I recently took the IAB L3 Advanced Manual Book-keeping Part 1 exams, and I will admit, it was one of the hardest Book-keeping exams I have ever taken. (Although this may have been due to only being allowed 2hrs instead of the 3hrs I thought I needed!) This is coming from someone with 25+ years experience in Accountancy & book-keeping. I have taken exams in the past, and I have always finished with plenty of time to spare, and normally have no problem with getting 98-100% marks. I've no idea if I have even passed - its going to be a couple of weeks before the results are in..... But I will say with the IAB qualifications, you will be a good book-keeper, rather than an OK one.
     
    Posted: Aug 1, 2007 By: frauke Member since: Jul 13, 2007
    #30
  11. frauke

    frauke UKBF Regular Free Member

    398 52
    Registered Book-keepers - how many book-keepers are registered? I'm constantly being asked to recommend book-keepers, but not many seem to be registered anywhere!

    The IAB have "members in practice" who are listed on the institutes web site. When I find one in the area where someone is looking it is easy to suggest that person (as I know what standard they are trained to). But there are just not enough people actually registered as being "in practice"!!!! If I can look up a book-keeper so can others looking for one.

    Its not expensive to be a member, and register to be in practice. Many book-keepers study their exams, but don't become members - why? Accountants would never dream of not being registered with the institutes they qualify through - even if they don't practice - why are book-keepers the same? Do you not consider yourselves professional people? :|

    Comments please??????
     
    Posted: Aug 15, 2007 By: frauke Member since: Jul 13, 2007
    #31
  12. LOUBELOUUK1

    LOUBELOUUK1 UKBF Newcomer Free Member

    223 14
    If you are working as a book keeper from home do you need a practising certificate or is this just beneficial and shows you are more professional???? but not a necessity????
    Just after advice thanks, Louise
     
    Posted: Aug 20, 2007 By: LOUBELOUUK1 Member since: Aug 20, 2007
    #32
  13. DavidT

    DavidT UKBF Newcomer Free Member

    914 113
    I think it is far more important than simply being registered with an organisation is to be experienced... and capable. If you get a solid recommendation for a bookkeeper (or accountant) it is likely that would be worth far more than judging on registration.

    Of course a personal opinion, but I think those that know, being qualified doesn't necessarily mean you are more professional or more capable... although it is more likely. I have seen unqualified (or QBE) bookkeepers that are more capable of doing accounts than qualified accountants... not usual but it does happen.

    Bookkeepers, nor accountants need any certificates or qualifications to do general work. It does help and I would recommend using someone that is qualified if you don't have any good recommendations to go with.
     
    Posted: Aug 21, 2007 By: DavidT Member since: Aug 16, 2007
    #33
  14. frauke

    frauke UKBF Regular Free Member

    398 52
    As Daivd says, using someone who is qualified "if you don't have any good recommendations to go with" is often the only way "the public" can have the confidence to use you.

    I have found 2 benefits with having a practice certificate (mine is with the IFA) having spent 15 years as a qbe accountant and the last nearly 10 years as qualified - and that is:

    1. I can provide Accountants certificates for mortgage purposes for all my clients.

    2. Because my institute provides details of "Members in Practice" on their web site, I receive calls from people who are looking for a Accountant" who have found me from doing a internet search. So far, they have all been good quality clients.

    The IAB bye laws state:
    "Members of the Association offering Book-keeping services to the Public in the United Kingdon should apply for and be granted, a Certificate of Compliance".

    The certificate of compliance is the same as a "practice certificate" as the members are regulated by the Association. The IAB for example is now listed as self-regulating under the new Money Laundering regulations.

    The "professions" may not be as restrictive as in Ireland, but what will happen to individuals not registered with an institute/association and find themselves not regulated under the new Money Laundering regulations? (And that includes Book-Keepers!)
     
    Posted: Aug 21, 2007 By: frauke Member since: Jul 13, 2007
    #34
  15. LOUBELOUUK1

    LOUBELOUUK1 UKBF Newcomer Free Member

    223 14
    Right forgive me if i am dumb....

    reading your replies... i am assuming that you dont have to have a certificate BUT it does help with regarding to obtaining new clients.
    I did accountancy work for a premiership football club and was producing the month end management accounts however as i have stressed am not fully qualified so i understand the QBE issue and agree.

    I just seem alittle confused on the exam front now.... i have been told that because my AAT Qualification was earned in 1997 that i may need to sit update exams before i pursue this line of work!!! ????

    Can you please confirm that i am understanding these issues please.

    Many thanks Louise. :|
     
    Posted: Aug 21, 2007 By: LOUBELOUUK1 Member since: Aug 20, 2007
    #35
  16. frauke

    frauke UKBF Regular Free Member

    398 52
    Its not just about doing exams - its also about becoming a member of the "Association". By being a member you have to collect CPD points each year for keeping yourself up to date. This does not mean you are to take exams, just find acceptable (to your association) ways of keeping yourself up to date. (Going to DS meetings, reading magazines, doing reasearch on accountancy boards etc. etc !!!)

    The IAB accept some AAT qualifications (and other institutes) for some exeptions to become a member - and of course the AAT also may let you join!

    Your starting point needs to be - become a member of a professional organisation. If this means doing some exams then do the exams, some give exemptions for experience together with other qualifications. Non will let you become a "Fellow" without the right qualifications - but many will accept you as member or associate to get you started.
     
    Posted: Aug 21, 2007 By: frauke Member since: Jul 13, 2007
    #36
  17. JenMAAT(hopefullysoon)

    JenMAAT(hopefullysoon) UKBF Newcomer Free Member

    3 0
    Hi all

    I am in the process of putting myself out there as a self employed person I am in the technician stage of the qualification and am wondering what to charge for a set of accounts and any other returns.

    Jen
     
    Posted: Oct 7, 2007 By: JenMAAT(hopefullysoon) Member since: Jul 17, 2007
    #37
  18. hafeez

    hafeez UKBF Newcomer Free Member

    15 0
    hi there,
    i am currently studying for my cima examinations and have a certificate in business accounting, does anybody know if i qualify for any exemptions with the iab?
    i am also starting to do bookkeeping from home because i have a lot of experience in both sales and purchase ledgers, does anybody have any advice for me!
     
    Posted: Oct 7, 2007 By: hafeez Member since: Oct 7, 2007
    #38
  19. frauke

    frauke UKBF Regular Free Member

    398 52
    Exemptions - I think its very difficult to know what qualifications are excepted for exemptions, as there are so many out there - and sometimes you may get an exemption with one qualification, because you have it with others - without which it may not be acceptable for exemption. Also together with the type of experience you have - that can strenghten the qualifications you have.

    This is the web page where you will find the IAB exemption form : http://www.iab.org.uk/exemption.asp

    It may be worth submitting an application - I understand the membership dept try not to be too rigid in how they apply the rules as long as there is enough information (qualifications, experience etc.) supplied for them to consider an application. Put as much info on it you can - the more complimentary stuff you have the better your chances.

    hafeez - depending on where you are with your CIMA exams, you may also get exemptions to join the IFA : http://www.ifa.org.uk/memshiproutes.asp

    The big thing coming up is (Dec 07) - if you aren't a member of an ML approved organisation - if you provide any type of accounting/bookkeeping services you will need to be registered with the HMRC so they can provide your ML monitoring. Personally - given the choice I'd rather not be monitored by the HMRC!
     
    Posted: Oct 8, 2007 By: frauke Member since: Jul 13, 2007
    #39
  20. hafeez

    hafeez UKBF Newcomer Free Member

    15 0
    hey frauke thank u for the information, im looking into the links you have provided, can yopu tell me what this ML approved business is about as im a bit confused!
    thanks again for taken the time to reply
     
    Posted: Oct 9, 2007 By: hafeez Member since: Oct 7, 2007
    #40
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