Self employed bookkeeping

turbo_sammie

Hi,

I'm hoping someone can point me in the right direction here. I have just completed my level 2 diploma and am studying level 3 currently, and I'm thinking about doing a little bit of basic bookkeeping work in my spare time. I don't work in finance and have no finance experience (have worked in admin for the prison service for about 8 years), but feel pretty confident that I understand enough about bookkeeping to be able to do a little bit on the side. I have no idea where to start though! Obviously I'll have to find some small businesses that need a bookkeeper and don't mind my lack of experience, but what's the first place I start at? What do I need to put in place to get myself started? And can anyone recommend good bookkeeping software?

Any help or advice would be greatly appreciated! :-)

PGM

turbo_sammie wrote: »

I don't work in finance and have no finance experience (have worked in admin for the prison service for about 8 years), but feel pretty confident that I understand enough about bookkeeping to be able to do a little bit on the side.

I'd really be worried whether or not you do know enough about bookkeeping to be able to provide a good service.

wildgoose1uk

Have you thought about looking at the longer term and what youwant to be doing in 5 years? Bookkeeping is the least luctative side of what we do. It may be worthwhile looking for a junior position in a local practice who would support your studies.

This way you gain proper practice experience as well as, in time, practice management knowledge and in a couple or a few years you would be well equipped and confident to go out on your own.

I quoted for a bookkeeping the other day and a competitor quoted £22.50 per month for bookkeeping and tax return. How many clients would you need to be earning what you are earning just now?

turbo_sammie

I will need to keep my full time job for the moment as I wouldn't be able to afford a drop in pay to take a junior position, yet no one will employ me in a finance job because I have no experience (it's a vicious circle)! I figured the only way to gain experience would be to do bookkeeping work at evenings and weekends whilst studying, even unpaid bookkeeping if I had to, otherwise I won't be able to complete my AAT because I won't have the 1 year experience I need.

Is it a bad idea to take on any bookkeeping work at the moment then? I have no other way of gaining any experience, and there's only so much you can learn from books! :-(

PGM

I think it'd help if more accountants should work together to start up, and offer accounting services. They could combine their knowledge to be able to offer a good service were they might struggle on there own.

It would also solve the hours problem, with some working during the day and others evenings and weekend.

turbo_sammie

This may sound random, but what if I approached accountants who may want to sub-contract any bookkeeping work? Then if I had any major problems they may be able to steer me in the right direction. Although I suppose that could get annoying if I really started to screw things up.

janwal

turbo_sammie wrote: »

This may sound random, but what if I approached accountants who may want to sub-contract any bookkeeping work? Then if I had any major problems they may be able to steer me in the right direction. Although I suppose that could get annoying if I really started to screw things up.

Hi Turbo Sammie

It may sound random, but a really good idea. Although I work in Finance I only do 1 aspect of it and would love the opportunity to have a go at using some of my studying in a real situation.

Jan