What do I do now?????!!!!

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:08AM in AAT student discussion
Hello all!!!<BR><BR>I have just been made redundant from my Accounts Assistant job of 4 years, and I am finding it difficult to get a job that is not credit control!!!<BR><BR>The main problem that I have is I have no practical experience. In my last job, there was myself and my supervisor - we were the accounts department. I dealt with the credit control, purchase ledger, bank rec's, etc ... basically everything up to trial balance, but thats it. I am due to complete the Technician level in June this year.<BR><BR>I am not afraid of learning new things, infact I enjoy it. But I really do not want to take a step back and struggle to claw the wage back that I had.<BR><BR>I have spoken to a few classmates about my situation, and they suggested taking on someone's accounts as practise, and to build my confidence, so in the future I could potentially do this as a full-time job. But the problem is, I wouldn't know where to start!!! SAGE did everything for me and I can't ever see myself being able to do it - I have no confidence!!<BR><BR>Any help or suggestions are greatly appreciated. I have questioned the point of continuing my studies, as I don't think it's going to get me the salary that I need and it will not give me the valuable experience that I need. Give me a text-book question and I'll do it - thats as far as I go!<BR><BR>Again, any help will be invaluable!!<BR><BR>Kim xxxx

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    HI Kim<BR><BR>From what I have read you have more ability and experience than you give yourself credit for. To be able to complete up to trial balance whether it be manually or via sage will be an asset for any company. I think itâ??s a classic situation of not having the confidence of deviating off the route that you feel so comfortable in, whether you enjoy it or not â?? if you are at the technician stage Iâ??m sure you have the relevant skills to hold your own within a working environment. You say that â??give me a text-book question and I'll do itâ?? well invariable a text-book question can be more complex than real life situation â?? remember, also in the working environment you have people around you constantly willing to assist, you also have access to reference material â?? employers are somewhat accommodating they donâ??t expect every employee to know everything. <BR><BR>If I were you I would also continue with the course â?? it sounds as though you have come so far. Initially you may not get the salary that you are looking for, but I would imagine that someone at the technician stage could command something in the region of £15,500 to about £20,000 obviously this will be dependent on location too.<BR><BR>Again Kim â?? I think your biggest problem is your confidence - I certainly donâ??t think its ability that you lack.<BR><BR>Go on go for it â?? youâ??ll be surprised at what you will achieve<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Thank you Bowlingbazza for your reply.<BR><BR>I know that I will get a job that pays me what I need, I think I'm just panicking as I've never been out of a job. I also hate the ordeal of going to interviews and possible rejection letters.<BR><BR>I know alot of people that have their own businesses and struggle to maintain the paperwork, aswell as doing their job. I would love to help them, as it would provide me with knowledge and hopefully more confidence, but I have absolutely no idea where I would have to start!!! Do they just give you reciepts and then you're left on your own? Would I be expected to produce the Financial Statements or are the accountants responsible for that?<BR><BR>You've been so helpful so far, would you be able to point me in the right direction with this?<BR><BR>Again, your help is appreciated.<BR><BR>Kim
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    <BR><BR>Kim <BR><BR>Hi ya again<BR><BR>I understand your concerns I guess I was the same when I first started working in accounts 7 years ago. Like you I had completed the technician stage with little work experience and was terrified at the though of working full time â?? the biggest fear for me was â??how much was I supposed to know at my levelâ??. In reality when I started (as an employee) people were aware of the situation and accommodated that â?? 7 years down the line and ¾ way through ACCA I still donâ??t know everything and we are expected to approach senior staff at work for guidance. <BR><BR>With Regards to interviews I guess it just natural to feel nervous. Interviews can be daunting, and individuals donâ??t necessarily make the best of them â?? I know I donâ??t - are you surprised sitting their in front of strangers, but a good interviewer will be aware of the nervous element and see through this! <BR><BR>Regards to panicking and knowing where to start I wish you could work at my place for a week just to show you that you can do it.<BR><BR>The requirement will really depend on the type of job you seek/get.<BR> <BR>If for instance you are working privately for a sole trader youâ??ll probably have access to all of their information such as bank statements, receipts invoices and so forth. Basically you would be expected just to prepare the accounts. You can do this by completing a cashbook system â?? update it monthly; do you bank recs monthly, debtors control monthly, and come the end of the year you will have all the information to complete the year-end accounts. <BR><BR>If the client just gives you the whole years worth at once, say at the end of the year, then they will have more than likely have already done a cashbook. You will just need to check the bank balance ties up with the bank statement â?? maybe tick the bank if it doesnâ??t reconcile. Once thatâ??s done just analyse out the expenses and income and drop the figures into a financial statement template. If they havenâ??t done a cashbook, then you will need to reconstruct one.<BR><BR>If itâ??s a Ltd. Company then the principle Is the same for the sole trader except for the disclosures - the disclosures will be slightly different, also you will have corporation tax, and possible PAYE or/and CIS if they employ staff â?? but with some guidance that shouldnâ??t be too problematic. There are many people around who could help especially on the forum. <BR><BR>I can let you have templates of sole traderâ??s accounts; you will just need to fill in the gaps relevant. You can also adapt the financial statements to what is relevant to you. I will also give you bank rec templates; capital allowances templatesâ?¦.give me your e-mail or respond to mine (karate2002uk@yahoo.co.uk). If you have any other queries or worries donâ??t be afraid to ask â?? Iâ??d rather you asked than panic and get stressed out. Other people reading your queries will hopefully lend some advice too.<BR><BR>Regards<BR><BR>Barry<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry,<BR>I have just started to do the Books for a Ltd. company. Would it be possible for you to send me your templates too. I would be very grateful.<BR>My email is sesmith@homecall.co.uk<BR><BR>Thanks,<BR><BR>Sarah
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry,<BR>could you very kindly email me a copy of the templates as i've been asked to prepare sole trader accounts for a friend, but i've not got the confidence either - despite the years of studying. my email is rachelcwillis@aol.com many thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    hi.can u please send me your templates too. my email is danyalchaudhry@hotmaol.co.uk . thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Yes. i will forward templates to all. Give me a day or two.<BR><BR>Many thanks<BR><BR>Barry
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    I also feel like I am in the same position, study for years, but can't remember where to start. <BR><BR>Could you also send me the templates if you get chance. (jon@birks79.wanadoo.co.uk)<BR><BR>Thanks in advance<BR><BR>Jon<BR>
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry<BR><BR>i am in the same situation as Kim and i will be completing the technican level in june. if you would not mind could you send me this template also. my emails address is Brothers@hotmail.co.uk<BR><BR>Many thanks<BR><BR>J
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry,<BR>Thank you very much for your help,<BR><BR>Sarah
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry,<BR><BR>I hope I am not too late, but I would be ever so greatful iif you could also e-mail me the templates you have mentioned, my mail is akamatthews@ukonline.co.uk.<BR>many thanks
  • System
    System Posts: 100,534 🤖 Admin 🤖
    What do I do now?????!!!!

    Hi Barry,<BR><BR>Would you kindly e mail me copies of your templates.<BR><BR>Thanks<BR><BR>naila.parveen@okieurope.co.uk<BR>

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