New Practice

Can someone give me pointers in terms of what needs looking?

Didn't find your answer?

I have registered with ICO got my PII and AML Sorted. 

My ASA up and running. whats next please? 

Replies (8)

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By TheTaxMan_
06th Jun 2024 17:08

Some clients!

But seriously, software for accounts/CT/SA/VAT submissions and prep, prepare standard engagement letters/TOB.

Thanks (0)
Replying to TheTaxMan_:
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By FactChecker
06th Jun 2024 17:24

A plan/method for continuous learning (greater depth in the areas you do a lot, and greater breadth in the areas that you encounter infrequently, and of course keeping up-to-date with legislative changes - especially in febrile political times).

You've not mentioned your qualifications, any membership of a PB or the level and type of experience you have. Those will obviously determine what services you wish to provide ... which will influence the aspects mentioned above by TheTaxMan ... and the optimum way of keeping in touch with changes to what you need to know.

Thanks (2)
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By Paul Crowley
06th Jun 2024 18:06

Try working backwards on Any answers and figure out if you could have answered a similar question from a new client.
Better still dive deep and be the first to answer the next twenty questions.
You missed three, but add your thoughts on them now

Thanks (5)
Replying to Paul Crowley:
By ireallyshouldknowthisbut
06th Jun 2024 20:18

This.

As training goes you wont get any better. I learned a huge amount on here 20 years ago when I started up, and took a beating from the regulars which was sometimes painful, but boy did I learn how to think properly and find the answers. I ended up changing my user name after 5 or 6 years when I was more or less upto speed.

I often would go and research and answer and then post it up, and await the sarcastic disection of it. You would pay a fortune for that level of training.

Thanks (12)
Replying to ireallyshouldknowthisbut:
By Moonbeam
07th Jun 2024 14:36

I can't remember when AccountingWeb started but I was an early subscriber.
I learned masses from some really good people then, and have not stopped learning since. (And I got a lot of support when times were tough.)
I consider Aweb an essential tool for all practitioners.

Thanks (2)
Caroline
By accountantccole
07th Jun 2024 12:40

Systemise everything - if you do something once, make it in a format you can reuse it and save as a template. It takes time in the beginning but makes life easier in the long run.
Factsheets for commonly asked questions so you don't have to type the same thing over and over

Thanks (3)
By Moonbeam
07th Jun 2024 14:34

Resolve to bill in advance for everything and insist on payment before you start any work.
This will help your profit margin and save you hours of hopeless chasing.
It worked for me!

Thanks (2)
All Paul Accountants in Leeds
By paulinleeds
11th Jun 2024 14:34

A website and possible social media. This will be your online brochure and help you find customers who search for accountants near you. Social media can take a lot of work for little report unless you put in the time.

Get registered on Google My Local Business. It's free and people will find you based on your location. I live in north Leeds and pick up clients near me because when people search for local accountant, I appear.

Start / continue networking e.g. local BNI or similar networking events. Built up contact with local bankers, and other professionals eg IFA, solicitors etc if you can for referrals.

Thanks (1)