When could you offer voluntary book keeping?

sarahwilsonsarahwilson Experienced MentorPosts: 567Registered
I'm waiting on my plb results next week and following on from the thread about voluntary book keeping, I was wondering at what level you could offer this. I was just thinking it would be good practice at double entry, etc but I don't want to volunteer to do it if its going to be above my level. What do you all suggest?

Comments

  • phunkyphantom22phunkyphantom22 Well-Known Posts: 166Registered
    I would say that AAT Foundation level is not enough to be able to do bookkeeping - sure you can make entries into the accounts and produce a TB, but you won't learn about preparing a p&l and balance sheet until Intermediate level.

    It's not as simple as it seems, along with bookkeeping comes tax questions (or at least this is what I have found) and you won't cover the tax units until Tech level.

    I'm sitting my AAT finals this year and help a family member and a friend with their bookkeeping, but I personally am not going to offer bookkeeping services to anyone else as clients until I have completed AAT, am a full member and also have indeminity insurance. I prob won't even do it until I have done ACCA - it can be very time consuming and you do not want it to affect your studies.
  • sarahwilsonsarahwilson Experienced Mentor Posts: 567Registered
    Thats what I figured that it would be too much at my level unless I did it for a car boot stall:lol: Thanks for the advice.
  • phunkyphantom22phunkyphantom22 Well-Known Posts: 166Registered
    Do you know anyone i.e. a family member or friend who is a sole trader?

    If so, what you could do is ask if you can borrow some old accounts to practice with and then you would see actual receipts, invoices, accounts etc. You wouldn't actually be doing the bookkeeping as it will already have been done, but it would give you an idea of what happens in real life.
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