Hi there,
I'm 20 years old, and currently studying for my Level 4 AAT Qualification. I have levels 2 and 3 under my belt. I also have 15 months of practical bookkeeping experience in a small to medium Chartered Accounts firm however I haven't done VAT returns.
I'm looking at setting up as a bookkeeper to work from home or even at clients place of work if needed and software is provided.
Would my qualifications suffice?
I was wondering what the best way to go about this is, whether I have to set up as a business immediately, or whether that can be on the back burner for a month or so? Whether my lack of VAT return experience would be a problem? And also any good ways to advertising my services and find clients?
Would I need to purchase SAGE or would a good excel spreadsheet do the trick?
Any extra tips or tricks for success would also be appreciated!
Replies (3)
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Yes, maybe, probably and possibly
Your AAT plus practical experience should stand you in good stead but didn't (don't) you deal with any VAT at your employers? You need a basic knowledge of VAT at least and I would get that first. If you are already using SAGE the actual return should be self generating (it is in QuickBooks) and submitting the return is easy. I fear most of your prospective customers would view your age as a hindrance as many 'bookeepers' do a lot more than just process paperwork (eg salaries, chasing payments etc). My wife who does what you would recognise as bookkeeping is also a peacemaker between a warring family on a farm, and judge and jury between errant brothers at a pub group. I would get your full AAT and more experience at you firm first - besides they might not take too kindly to your working 'on the side' as it were.
VAT and Payroll (and CIS) are a must really
I think you'd find your target market greatly reduced if you could only do the basic book-keeping. Most smaller businesses need someone to do everything, i.e. VAT returns, Payroll, and builders/joiners/plumbers will almost certainly need you to deal with their CIS. If I were you, I'd try to get a lot more experience re VAT and PAYE/CIS and then you'll be more attractive to potential clients. Whilst exams are important, I'd say that decent work experience is probably more important if you're going it alone as the clients will expect you to know what you're doing, not just know it in theory.