Own Business With No Practice Experience - Advice Please!
timsmith86
Registered Posts: 18 New contributor 🐸
Hi everyone,
I am considering starting a bookkeeping business, potentially accounting for small business however I have no practice experience.
I currently work full time, where I have gained a lot of management accounts experience taking accounts to TB. Also, I am still studying ACCA and have children so am busy. This would be a "side hustle" to begin with to enjoy a bit of extra cash.
I understand there would be start up costs to begin, AAT licence, software, insurance etc., but would anyone have any other advice. Would it be worth, would there be much requirements for bookkeepers or would most small business expect to deal with all tax issues etc and unsure I could commit that time and attention?
Thanks to anyone who could share.
Tim
I am considering starting a bookkeeping business, potentially accounting for small business however I have no practice experience.
I currently work full time, where I have gained a lot of management accounts experience taking accounts to TB. Also, I am still studying ACCA and have children so am busy. This would be a "side hustle" to begin with to enjoy a bit of extra cash.
I understand there would be start up costs to begin, AAT licence, software, insurance etc., but would anyone have any other advice. Would it be worth, would there be much requirements for bookkeepers or would most small business expect to deal with all tax issues etc and unsure I could commit that time and attention?
Thanks to anyone who could share.
Tim
0
Comments
-
@timsmith86 Assuming you have retained your AAT membership, it is likely you have as you appear to be aware of the licensing requirements, if you log into the AAT website, click on "My Career" and then "Licensed Membership", this area should give you most of what you wish to know.0
-
I'm sure you are aware of the relevant ACCA regulations regarding practising without a PC (have a read ACCA Regulation 8).timsmith86 said:Hi everyone,
I am considering starting a bookkeeping business, potentially accounting for small business however I have no practice experience.
I currently work full time, where I have gained a lot of management accounts experience taking accounts to TB. Also, I am still studying ACCA and have children so am busy. This would be a "side hustle" to begin with to enjoy a bit of extra cash.
Tim0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 328 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 57 AAT Level 3 Diploma in Accounting
- 95 AAT Level 4 Diploma in Professional Accounting
- 8.9K For accounting professionals
- 23 coronavirus (Covid-19)
- 273 VAT
- 92 Software
- 275 Tax
- 138 Bookkeeping
- 7.2K General accounting discussion
- 203 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 583 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership