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Basic Bookkeeping Service

  • 04-01-2009 12:44am
    #1
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭


    Hey guys,

    First off, I'm a trainee accountant (ACA @ CAP 2 level) and was considering trying to get a few small clients of my own on the side who I could offer a basic bookkeeping service too. The extra cash would be sweet, but I'd also like to get some exp running my own business, even if it's tiny and falls apart after a few months!!!

    I know I can't trade off the rep of being a trainee accountant (explicitly anyway :D), and afaik there's no clause in my contract preventing me from doing so. I got first class honours in my A/C degree, and would consider myself decently compotent when it comes to double entry and the likes.

    I was just wondering if any of you has ever set up a basic bookkeeping service for small local businesses (small shops etc) who wouldn't have a need for a full accountant, but would still need to keep a record of transactions for their own purposes? And if so, what exactly does it entail? I'm guessing it's really simple stuff like just recording sales, purchases etc etc, maybe some simple tax returns at year end, and any CRO filing that may need to be done?

    I figure trying to pick up 2 or 3 clients thru friends and family is the first step, and charge only a nominal amount, if anything for maybe the first while, and gradually try to pick up more thru word of mouth and advertising to local shops and businesses.

    Anyone got any insight to offer?

    Viability, ballpark earnings etc?

    This is really only at the brainstorming stage (obviously!!) and if it did happen it wouldn't start until after my CAP 2 exams in June, so if I do go ahead with it, I have some time to prepare myself for it.

    Thanks all!


Comments

  • #2
    [Deleted User]
    Posts: 2,138 ✭✭✭ [Deleted User]


    Don't you need to be fully qualified first in order to do this? I remember suggesting this to one of my many (accounting) friends before who was recently made redundant from one of the big 4 because he failed his Prof 4 (i think) and that is what he told me.


  • #3
    Hanley
    Banned (with Prison Access) Posts: 21,981 ✭✭✭✭Hanley


    Deleted User wrote: »
    Don't you need to be fully qualified first in order to do this? I remember suggesting this to one of my many (accounting) friends before who was recently made redundant from one of the big 4 because he failed his Prof 4 (i think) and that is what he told me.

    Afaik there's no formal bookkeeping qualification??

    You certainly don't have to be a fully qualified accountant to be a bookkeeper. It's mostly about keeping track of transactions and filing simple returns.

    It's not like you're doing anything too technical!!

    You have put an idea in my head tho, I might look into some bookkeeping classes and see what's on offer.

    Anyone got any recommendations??


  • #4
    aidan.connolly
    Registered Users, Registered Users 2 Posts: 250 ✭✭aidan.connolly


    Hi,
    To me book-keeping is a very important basic function of every business. It forms the foundation of any future accounting work. It is important that it is done correctly.
    I have noticed over the past couple of years that a lot of this work is been done by married women returning to work. This effects the rates that can be charged, as a lot of them work from home and offer very competitive rates.

    The service they provide is excellent.

    I use TAS 3 to produce the accounts, Vat Returns, etc... but it is important to know the basics of book-keeping so that you understand how it produces the results.
    Most computer packages are very "user friendly" and have help menus if you get stuck.

    Good luck with it


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