Drowning Not Waving

Lady Gaga
Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
Would anybody like to mentor a new mip? Or offer advice if I need it on an ongoing basis. Just got my license and am totally overwhelmed by it all. I just don't know if I can do this alone. I have not worked in practice and every job I have had it's been to take over from someone so the software is up and running and there's been an accountant on the end of the phone if I needed any help. I have only used Sage and although I love it it's very expensive and I dont know if I can justify it in my start up costs.
So last night I broke out in a cold sweat wondering what on earth I am going to do if and when I get my first client and they use Quickbooks or VT etc how do I get round that?...... I dreamt last night I jumped into this big blue sea and then was eaten by sharks....that's exactly how I feel!


  • stefanboro
    stefanboro Registered Posts: 187 🎆 🐘 🎆
    Poor Lady GaGa! I have been there myself - after about a year of operating outside of my comfort zone I finally got to the point where I woke up, didn't feel sick, and thought "Hm, I can do this!".

    I am not really qualified to mentor anyone but I have a few clients and can do statutory final accounts, companies house returns, tax returns (company / sole trader / partnership), VAT and payroll.

    So, if you ever do need any help, I will PM you my e-mail and I'm sure someone more experienced then me will offer too.

    Otherwise, that's the point of this forum. It's been a fantastic source of knowledge for me.

    Sage - don't bother. Very good to use (although many disagree) I just can't stomache the price.

    My own preferences with software thus far:

    Payroll: Moneysoft (fantastic) or 12pay
    Bookkeeping: VT Transaction + or solar accounts but there are LOADS
    Final Accounts and tax computations: VT Final Accounts
    Tax Software: Ftax
  • stefanboro
    stefanboro Registered Posts: 187 🎆 🐘 🎆
    But anyway, now is not the time to stress!

    Having clients is when you stress :-)
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    Drowning Not Waving

    Thank you Stefanbro you are a star! No doubt I will be in touch soon.
  • Rinske
    Rinske Registered Posts: 2,453
    I thought Monsoon said there was a mentor scheme for new MIP's, provided by the AAT. You might want to check if you are eligible for this?

    I'm sorry, but I haven't got any further details, so maybe a search on the (MIP) site might give some results?
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    Hello, Yes, I did ring the AAT and enquire about mentoring but they told me they have very few members who will do it, certainly where I live anyway.
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    I've just had an idea ;) Do you think VT transaction offer a training course? If they do does anyone know how much it is?
  • anniem
    anniem Registered Posts: 1,326
    VT don't offer a training course!

    I would certainly recommend VT Transaction +/Final accounts and 12Pay.

    You are where I was this time last year; I'm just about to renew my licence - I know exactly what you mean about being in at the deep end, but there are lots of people here who will help you.

    Good luck!

    Anna x
    FMAAT - AAT Licensed Member in Practice - Pewsey, Wiltshire
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    Oh and here was me thinking I'd had a good idea! ... Think I might have to cough up and pay for Sage then, I can't learn new software as well as everything else involved in becoming an MIP...it's just too much for me at the moment.....actually I have a better idea, why don't I give up the idea all together and stick with the day job!
  • burg
    burg Moderator, FMAAT, AAT Licensed Accountant Posts: 1,441
    I can appreciate that it can be very daunting going on your own. I had quite a few years experience before I decided to go alone and I am a more confident character than most so was confident it would work.

    I am still some way from you (West Glos) although I have a few clients over your way.

    I cannot say I will be a definite mentor as I am extremely busy running and growing my practice as well as trying to spend as much time as poss with my kids while they are young.

    I can however offer some occasional email and telephone support. Mostly email as I can answer when I get chance.

    Posting questions on here can usually help as well.

    As for knowledge of software Sage is harder than most so you should be fine. While you have the time (before you are inundated with clients) take the opportunity to get some free trials of software and get to know them. VT T+ give 60 days, Moneysoft Payroll has about a month as well. You pick up plenty of the basics of each software like this.

    Best advice is be friendly be nice, but firm, and mostly be confident. You wouldn't have taken the step towards MIP if you weren't confident so look for that inner confidence. Help out some clients and your confidence will grow.

    Best of luck.

  • Sulew17
    Sulew17 Registered Posts: 174 🎆 🐘 🎆
    Don't give up! I can't wait to qualify so I can become an MIP. This is what you've worked for all this time. Be positive.
  • ademoore
    ademoore Registered Posts: 146 🎆 🐘 🎆

    I'm on the Mentoring list, they seem to go by your location and try to find the nearest person to you!! This is a great place to ask questions any way, a friendly bunch, as opposed to some other sites out there!

    I've been an MIP about 6 years now, just about to renew once again. Been a roller coaster, first year is the biggest learning curve, the years that follow are hard in the manner of trying to keep yourself updated constantly, and listening to your clients tell you that they spoke to a "mate" at the pub that follows some other way of doing things!!

    I'm still going through my first HMRC inspection with a client right now. Not a nice state of affairs, but not bad for a first one in 6 years of starting.

    Good luck with it, pros and cons with everything, but is nice to be your own boss! :)
  • ademoore
    ademoore Registered Posts: 146 🎆 🐘 🎆

    Oh, and I highly recommend VT+ final transaction with FTax for CT600s!
    Was using VT with PTP before for the CT600's, but VTs new system of IXBRL made it a breeze and ties in well with Ftax - even on price! I was dreading first IXBRL submission, but took minutes with VT and Ftax!

    I used FTax initally, and do remember them helping out to get me through my first 31st Jan submissions - for free!! Excellent service!

    I use Moneysofts payroll for, well, payroll! Again, service is outstanding! Very intuitive software, which is great when setting out and plenty of stress elsewhere!
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    Drowning not waving

    Wow, what a lovely bunch of people you are! I was really surprised when I logged on and saw your messages of encouragement and support! Thank you.
  • Monsoon
    Monsoon FMAAT, AAT Licensed Accountant Posts: 4,071 🎆 🐘 🎆
    Why do they try and match with mentors in peoples local area? That's silly, quite frankly. You can mentor without being face to face.

    I'm not in a position to mentor anyone else at the moment but LG, you have had offers from two great people, so that's great. Don't panic - yes, it is daunting but you can do it.

    And please, please don't buy Sage. Once you are used to the other software (and if you can use Sage you can use anything) you will be pleased you stuck with it.

    Oh, and post questions here as much as you like, that is what we are all here for!

    Good luck with your new business,
  • Lady Gaga
    Lady Gaga Registered Posts: 11 Regular contributor ⭐ 😼 ⭐
    Thank you Monsoon.
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