Where to start...

anthony_12c
anthony_12c Registered Posts: 40 ? ? ?
Hi all,

Looking for some advice regarding starting up your own practice. Doing mostly bookkeeping, VAT returns and small accounts jobs.

Like many who start out i would be working full time in my current job (an accountant), currently studying towards the ACA qualification.

Firstly how do you let prospective clients know that your business is on the side of your current job?

Also in terms of software, i've alot of experience in Sage but this is costly in terms of licences, so how do you work that? I know xero is growing in popularity.

Comments

  • Wyn
    Wyn Registered Posts: 7 Regular contributor ⭐ ? ⭐
    I too am about to start my own practice, but don't have anything near your experience. I quickly found that Sage was not the tool for the job. I opted for VT+ transactions. £125 unlimited amount of companies. no comparison, take the 60day free trial to see for yourself.

    Cant really help with the conflict concern with your current job, but I guess it would depend largely I guess on if you were working in a practice or in industry.

    good luck
  • MarieNoelle
    MarieNoelle Moderator, MAAT, AAT Licensed Accountant Posts: 1,369
    Hi, if you are studying ACA I would check also with the ICAEW that they allow you to be self-employed.
  • CeeJaySix
    CeeJaySix Registered Posts: 645
    What Marie said, I'm also halfway through ACA and I'm sure I remember reading that they don't like you moonlighting!
  • stevo5678
    stevo5678 Registered Posts: 325
    Don't tell clients it's on the side unless they are family and friends. You need to manage clients perceptions at his stage. Encourage contact at times to suit you mainly via email and they may not even notice.

    Agree that VT+ is effective. Try Taxcalc for tax returns/accounts which has good starter licences.
  • reader
    reader MAAT, AAT Licensed Accountant Posts: 1,037
    stevo5678 wrote: »
    Don't tell clients it's on the side unless they are family and friends. You need to manage clients perceptions at his stage. Encourage contact at times to suit you mainly via email and they may not even notice.

    Agree that VT+ is effective. Try Taxcalc for tax returns/accounts which has good starter licences.


    Could not disagree more. You should be honest and open with your clients and let them know that you currently have a full-time job and therefore may be difficult to get in contact with during traditional office hours.

    Use VT; Xero is a bit over the top for small accounts jobs.

    If your getting existing clients (who are with another accountant) it may be easier just to continue on their current package, e.g. if a client is on excel, just keep using excel. Or if they are on Xero or Kash Flow just keeping using these cloud accounting portals. The client can always send you an invite so that you can view and use their Xero or Kash Flow (in this instance the client is likely to be paying Xero or Kash Flow subscription fees).
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