Where to start - Bookkeeping Business?

BusinessWoman

I am seriously considering starting a Bookkeeping Service as it's proving more difficult to get my desired job as I'm competing with the younger ones who are fully qualified. I have worked mainly in purchase ledger and accounts payable. Would I still be able to offer all services up-to trial balance? Over the years I have worked for large organisations and done tasks on a periodic basis to cover most areas of accounting but not as strongly as accounts payable and receivable. I have AAT level 3.

Can you make a reasonable amount of money offering services upto trial balance?

Clintm15

I work in practice and I often speak to bookkeepers. They make a living doing it, it's definitely a viable job if you can get the clients.

PeterC

You should be fine doing this. Are you studying level 4? If you do the tax papers this will increase your earning power.
See also http://meadowgatetraining.co.uk/new-aat-practitioners/

BusinessWoman

Clintm15 - That's good to know other bookkeepers make money providing services upto trial balance. Thanks

PeterC - I will eventually get onto level 4. So you think it's wise to study Business Tax? After completion wouldn't I need to work for 6 months in this area of tax before I offered any tax services?

PeterC

I think it is wise to study Personal Tax and Business Tax. I'm not sure why you think you need to work for 6 months in tax. Bear in mind that accountancy is not a regulated occupation, anyone is allowed to do it!

BusinessWoman

Ok thanks! I have only recently started using this forum and I'm sure I read you need 6 months work experience in the area you will be providing bookkeeping services to be able to get a licence and become MIP. Hence why I want to provide services upto Trial Balance to begin with as the vast of my work experience lies with accounts payable and receivable.