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First time, starting my practice from scratch?

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Hi Everyone

I have just achived my practice licence and have spent most my working life working as an internal compnay accountant. I have alwasy wanted to work for myself and have finaly got to a point to make a start. I could do with some advice around what software to use? and what services i could provide which would give me a good foundation. I have been thinking to start from basic bookeeping and then build uo my services.

Once I have been able to source a good software the other question I have what are the best types of methods, to submitt client accounts to companies house. I ma contious that I dont want to fall short on any year end deadlines. Any advice would really help.

Many Thanks for your time !

Replies (27)

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By AdamMurphy
24th Jun 2021 20:25

Well there's no point in interacting as you've chosen to be anonymous for some reason and we can't ask any questions back to you.
And I hope your numeracy skills are better than your spelling/typing skills.

Thanks (8)
Replying to AdamMurphy:
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By Bob Loblaw
25th Jun 2021 09:13

I hope you received the gratification you clearly so desperately need in your life by typing this out. The likes must feel like a warm hug :)

Thanks (3)
Replying to Bob Loblaw:
Stepurhan
By stepurhan
25th Jun 2021 11:24

I hope you also feel good about denigrating the posts of others whilst offering nothing to the discussion yourself. You are literally doing exactly what you claim the poster you responded to did.

At least they pointed out two things that are potentially useful (that anonymous is not helpful with this query and that spelling matters), even if they did so in a dismissive way.

I agree with them. The OP would get a lot more out of this by engaging in a discussion, but we need to know who they are for that. Spelling/grammar is also often dismissed as not important in forums. I believe that using good spelling/grammar in all situations builds good habits for when it does matter.

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Replying to stepurhan:
By SteveHa
25th Jun 2021 11:31

@Stepurhan I bet you spell checked that at least 4 times before hitting the "Post" button ;)

Thanks (4)
Replying to SteveHa:
Stepurhan
By stepurhan
25th Jun 2021 13:08

Quote:

@Stepurhan I bet you spell checked that at least 4 times before hitting the "Post" button ;)

U no eet! :-)
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Replying to Bob Loblaw:
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By Leywood
25th Jun 2021 11:38

Quote:

I hope you received the gratification you clearly so desperately need in your life by typing this out. The likes must feel like a warm hug :)

oh the irony

Thanks (3)
Replying to Leywood:
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By Mr_awol
25th Jun 2021 11:45

Quote:

oh the irony

Especially if you take a trip through Bob's posting history which includes multiple put-downs, together with moans about others' put-downs generally.

TBH i think Bob is a parody account operated by another poster on here, rather than a genuine one (who on earth would do such a thing)

Thanks (1)
Replying to Mr_awol:
A Putey FACA
By Arthur Putey
25th Jun 2021 13:18

I thought all the accounts on here were of the parody variety in one way or another

Thanks (1)
Replying to Arthur Putey:
Maytuna
By DJKL
25th Jun 2021 19:58

I always wanted to be a parody.

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Replying to Bob Loblaw:
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By AdamMurphy
25th Jun 2021 12:14

I posted two relevant sentences. I’ve not seen any in your post.

Thanks (2)
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By Paul Crowley
24th Jun 2021 20:55

Definitely get some PII with a low excess

Do not attempt to claim fictional expertise or experience

Agree in writing the service you agree with the client. Do not overstep that by giving specific tax advice unless you really know the area you are advising on.

Do a lot of CPD.

Clients should not expect you to know every aspect of every tax. I do not, and neither do you.

Do not ask questions on Aweb as Anon.
Responders are really helpful and are better able to help if we can read your previous questions.

Anon is a choice you made and you were warned that responses will be much less helpful

If your knowledge of tax is exam based be very very careful.

Thanks (4)
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By Leywood
24th Jun 2021 21:11

How did you get a licence without experience? Genuinely interested! Which body?

No need to be anon. You will get more help if you are brave and come out of the shadows.

That said, your Qs have been asked many many times on here alreqdy, so take a look.

Thanks (2)
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By Hugo Fair
24th Jun 2021 22:54

I don't like being negative, so hesitated to respond ... but:
* Anyone who hasn't decided "what services i could provide" isn't in the right place to set up a business (in accountancy services or for that matter as a road-side café).
* If the fact that you "have always wanted to work for myself" is your main driving force, then you need to step back and do some serious thinking first.
* You "have spent most my working life working as an internal company accountant" so - can you identify any specific skills or knowledge you have now that will be of value to your potential clients (of whatever type you eventually decide to target).
* If you can't find a match between a target audience and your available skill-set, you need to acquire the missing skills/experience - or not set up in business.

This may all be obvious, but based on your Post all the points appear to need to be said - either because they haven't occurred to you or because you've not shown you understand what you want to achieve.

It may be that you need to do some work in an existing practice in order to find out where your skills & weaknesses lie ... and then develop a business plan before you order the brass-plate!

When you are in that position (and are prepared to discard Anonymous as a nom-de-plume), you may well find plenty of specific advice here ... like the starter freebies from Paul above.

Thanks (3)
By ireallyshouldknowthisbut
25th Jun 2021 08:54

I would suggest you get a job in an accounting practice.

2-3 years will tell you if its (a) the right career for you, and (b) save you and your clients 10 years of misery whilst you try and work out what the heck you are supposed to be doing.

Thanks (3)
Replying to ireallyshouldknowthisbut:
Red Leader
By Red Leader
26th Jun 2021 12:04

Spot on.

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By Paul Crowley
25th Jun 2021 09:06

As others have said
Practice is nothing like working inside a trading company.

My worry is that you intend to continue working and this is just a spare time activity

Thanks (2)
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By I'msorryIhaven'taclue
25th Jun 2021 09:27

Quote:

Hi Everyone

I could do with some advice around what software to use?

I recommend Grammarly

Thanks (6)
Replying to I'msorryIhaven'taclue:
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By AdamMurphy
25th Jun 2021 12:12

Careful now, you’ll have Bob on your case

Thanks (2)
Replying to I'msorryIhaven'taclue:
Red Leader
By Red Leader
26th Jun 2021 12:05

Grammarly is pants!

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Slim
By Slim
25th Jun 2021 11:43

To really get going you need to either be cheap, well connected or have serious cash.

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Replying to Slim:
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By I'msorryIhaven'taclue
25th Jun 2021 14:46

Or have the gift of the gab?

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Replying to I'msorryIhaven'taclue:
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By AdamMurphy
26th Jun 2021 08:45

I worked for one of those type in the past!

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RLI
By lionofludesch
25th Jun 2021 12:45

I would've thought that, with your experience, you're limited to bookkeeping.

Unless you have a significant experience in applying FRSs 105 and 102.

Nothing to stop you training up, though.

VT is good - very straightforward.

Thanks (2)
A Putey FACA
By Arthur Putey
25th Jun 2021 13:23

Why do you respond to these Anon posts at all? Just ignore them unless you see a good reason for the Anon. Unless of course they are blatantly obtuse and there is fun to be had, like the adamacccountancy one (not you I hope Adam, Member Since: 15th Jun 2021?)

Thanks (1)
Replying to Arthur Putey:
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By AdamMurphy
25th Jun 2021 18:28

No definitely not me. Trust me to choose a pseudonym which would then be related to THAT post!

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Replying to Arthur Putey:
RLI
By lionofludesch
25th Jun 2021 18:33

Quote:

Why do you respond to these Anon posts at all? Just ignore them unless you see a good reason for the Anon. Unless of course they are blatantly obtuse and there is fun to be had, like the adamacccountancy one (not you I hope Adam, Member Since: 15th Jun 2021?)

Unless Arthur Putey's your real name, the fact is that you're anonymous too.

Chill out a bit.

Thanks (1)
Replying to lionofludesch:
A Putey FACA
By Arthur Putey
28th Jun 2021 09:52

pseudonymous actually

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