What qualification do I need to start a bookkeeping business?

kirstym01

Hi everyone.....I hope this is posted in the right place here!

I'm currently studying level 3 diploma AAT, having passed foundation (level 2) AAT last year.
I've been considering my future career prospects and have been looking into bookkeeping which would work fantastically well while the children are still young.
I've been onto the Institute of Certified Bookkeepers website but can't work out if I would still need to study a seperate bookkeeping qualification or if the AAT would cover it, would anyone know?

aurorahelios

You don't have to have any formal qualification but you do have to be registered for anti money laundering. You can go directly to HMRC to get AMLR i think it costs about £120 alternatively you can join ICB or IAB and pay their membership fees, practice license fee and compliance fee.

Advantages of going with the ICB or IAB are you will get their support network and reductions in personal indemnity insurance. Disadvantages are that you can only offer services that you are qualified to do under their qualifications.

To gain membership to the ICB you will need to sit their exams, not sure about the IAB but I should have thought it is similar.

aurorahelios

I can recommend this forum specifically for bookkeepers, plenty of in practice members here who are a very friendly and helpful bunch
http://www.book-keepers.org.uk/index.spark?aBID=106474&p=1

Kez100

If you are starting a business, as well as everything others have said, remember, you will need to be actually able to do the job. When in business training etc is down to you. It's not like walking into an employment where there maybe systems in place to help you train and learn. If taken on you will be expected to know what you need to do.

So long as you are confident with the work, either due to past experience or if you feel AAT has covered everything you need to know, then you don't need any qualifications. You might choose to get some more though and, if you are not confident, then perhaps a bookeeping course will help. Also as others have said being a memeber of a body night help you nail the insurances etc that you need.

morgani

You can certainly do bookkeeping with the AAT qualification as you don not need any qualification to be a bookkeeper.

You cannot mention AAT at all to your clients until you are a full member and have been granted a practising certificate. You should though still follow the AAT guidelines for its members and only offer services fow which you are competent.

Although AAT will teach you the theory you still need practical experience and will not be awarded full member status or a practising certificate without this.

Why not visit the AAT forums and ask there to get the ideas on what others are doing. http://forums.aat.org.uk/index.php

paulwf

Kez100 wrote: »

If you are starting a business, as well as everything others have said, remember, you will need to be actually able to do the job. When in business training etc is down to you. It's not like walking into an employment where there maybe systems in place to help you train and learn. If taken on you will be expected to know what you need to do.

Are you looking to book keep for small businesses? If so I bet what is taught on paper isn't that important, what will matter is how good you are at reconciling a pile of receipts dumped in a draw once a month and working out what invoices have been paid twice, which invoices have been lost, trying to make sense of business rates invoices etc.

The best book keeper I've known was what I'd describe as a "matronly" figure. I hate book keeping and never have enough time for it anyway. She'd make me sit down and demand what information I would have to provide her and chase it up the next week.

Small biz book keeping is generally quite simple, just reconciliation and a quarterly vat return covers most of it. People skills will be much more important.

angelpie1000

Kirsty,

I agree with everything that has been said before. You don't actually need any qualifications to be a bookkeeper, experience is much more important.

Having a professional qualification does give your clients more comfort that you know what you are doing.

Also look at what support you may need and where you could get this.

There are lots of things to consider before setting up your own bookkeeping business - insurances, anti-money laundering regulations, what software are you going to use, where will you get your business from... I could go on.

Feel free to ask any questions.

Karen