Bookeeping / Friends / Family

nc82

Hi Folks,

Im looking to apply my skills learnt over the last 3 years of hard graft, I qualified as a MAAT in Feb this year and I am considering offering my bookkeeping services to friends and family (previously been asked to do some work but always declined until I became qualified) I currently work as an accounts assistant for a large company and my contribution to putting the accounts together is minimal with two chartered accountants above me, my main contribution is reviewing daybooks, a few nominal recs etc I feel like the knowledge I have acquired is in fear of been wasted and has lead to me being apprehensive about doing work i have proven I am capable doing via my studies because I don't use it at work, and the opportunity to use it in my current role remains limited for the foreseeable future.

Is there anyone who offers bookkeeping to friends, families or clients can you offer any tips on how you record transactions etc I use sage 50 at work but we are only talking small businesses to start with, I have read some old posts about a programme called solar accounting does anyone have any experience of using this?

A lot of my anxieties are down to confidence so all responses will be much appreciated.

Monsoon

Solar Accounts is the package I've been recommending for the last few years.

It's much more flexible than Sage, multi company for one fee, very simple to use, but Ive gone off it for VAT. I need to do a blog post on my VAT workaround so i can link it easily... It works, but it's a little laborious. For non VAT reg businesses its just fantastic.

If you google Solar Accounts 20% Discount you will find my discount link near the top. But anyway, enough promotion.

I think dong bookkeeping for friends and family is a great idea. Its how I got started and how lots of people get started. Don't let you confidence be knocked too much by the fact you're not using everything you've learned. But i know that practice and experience is the way to build confidence, so if you can get some experience with friends, family, or maybe a local charity, I think that will do you the world of good.

Have you asked at work to see if you can do anything more advanced? It might be that there isn't anything more available, but it might be that there is, and they might not think to offer it unless they know you are up for doing it! It can't hurt to ask. If you're in a quiet moment, can you ask one of the seniors if you can work through one of their tasks with them?

Oh, and another bookkeeping package that is excellent (so i hear) is VT Transaction+. I plan to start using it at my practice; ive had it for years but haven't used it yet.

nc82

Monsoon wrote: »

Solar Accounts is the package I've been recommending for the last few years.

It's much more flexible than Sage, multi company for one fee, very simple to use, but Ive gone off it for VAT. I need to do a blog post on my VAT workaround so i can link it easily... It works, but it's a little laborious. For non VAT reg businesses its just fantastic.

If you google Solar Accounts 20% Discount you will find my discount link near the top. But anyway, enough promotion.

I think dong bookkeeping for friends and family is a great idea. Its how I got started and how lots of people get started. Don't let you confidence be knocked too much by the fact you're not using everything you've learned. But i know that practice and experience is the way to build confidence, so if you can get some experience with friends, family, or maybe a local charity, I think that will do you the world of good.

Have you asked at work to see if you can do anything more advanced? It might be that there isn't anything more available, but it might be that there is, and they might not think to offer it unless they know you are up for doing it! It can't hurt to ask. If you're in a quiet moment, can you ask one of the seniors if you can work through one of their tasks with them?

Oh, and another bookkeeping package that is excellent (so i hear) is VT Transaction+. I plan to start using it at my practice; ive had it for years but haven't used it yet.

Thanks for your response, I will check out those accounts programmes, I didn't want to sign up for one until I had some concrete work. As for taking on more work In my current role it has been mentioned in personal development reviews for me to take on more work to assist with the management accounts not wishing to run before I can walk but I'd like to see the accounts put together step by step and see the end result as to gain an idea how to put them together 'for real'.

I have had a look at solar screen shots etc looks user friendly and a good tool to start off with rather than trying to use excel for everything.

leonag

I've been doing my husbands bookkeeping for the last few years or so, he's only a sole trader builder, so not a big business, but up until this year I've kind of muddled through, keeping records in an adhoc way, with each year of AAT getting slightly more organised. This year I've done it properly, just as if I was going to prepare the final accounts myself, I even produced a set of accounts, including a tax return I printed off the internet (a couple of weeks early I know) but when I've showed them to the accountant they were right. Working through the whole process step by step was such a confidence boost. If you just work through everything you've learned, double entry purchases and sales etc, or a computerised system, then trial balance, P and L then tax adjusted profit, it all just kind of falls into place. I'm in my final year of AAT so i'm not qualified to sign books off yet the accountant will do that.

Just start with something small and work you're way up, and if you don't know something, be honest say I can't do that and refer them on. Just go for it, you'll probably surprise yourself.

Leona

Monsoon

leonag wrote: »

I've been doing my husbands bookkeeping for the last few years or so, he's only a sole trader builder,

Speaking from experience as an employer, even having this kind of experience makes a candidate very attractive, especially if it's been done on a package the employer uses, so experience in a variety of packages does help, as does doing books for friends/family!

nc82

leonag wrote: »

I've been doing my husbands bookkeeping for the last few years or so, he's only a sole trader builder, so not a big business, but up until this year I've kind of muddled through, keeping records in an adhoc way, with each year of AAT getting slightly more organised. This year I've done it properly, just as if I was going to prepare the final accounts myself, I even produced a set of accounts, including a tax return I printed off the internet (a couple of weeks early I know) but when I've showed them to the accountant they were right. Working through the whole process step by step was such a confidence boost. If you just work through everything you've learned, double entry purchases and sales etc, or a computerised system, then trial balance, P and L then tax adjusted profit, it all just kind of falls into place. I'm in my final year of AAT so i'm not qualified to sign books off yet the accountant will do that.

Just start with something small and work you're way up, and if you don't know something, be honest say I can't do that and refer them on. Just go for it, you'll probably surprise yourself.

Leona

Thanks for your response, your comments are appreciated I'm sure once I get into the swing of it everything I have learnt will come flowing back its just dormant at the back of my brain :-)

BCASL

I too got started like this and have now been a full-time MIP for nearly 10 years, now with a high street office.

For software have a look at VT - VERY easy to use and very cost-effective (cheap!), no limit to number of clients either.

Good luck - don't forget though that if you start charging for your services, you may need to apply for a MIP licence