![]() This means you may need to register either with HMRC or a supervisory body such as the Institute of Certified Bookkeepers(ICB), the International Association of Bookkeepers (IAB) and Association of Accounting Technicians (AAT). Professional bookkeepers are regarded as an accountancy service provider. ![]() Watch the video Complying with Money Laundering Regulations When it comes to physical equipment or 'hardware', there’s probably not much more you’ll need than a computer, an internet connection and a smartphone that supports all the software you plan to use to run your bookkeeping business.įind out how Caplin Bookkeeping uses FreeAgent to collaborate with clients Digital communication tools, like video call and messaging apps and virtual meeting software, are also essential for running a successful bookkeeping business from home. In addition to online bookkeeping software, it’s also wise to get your hands on an appointment-booking app to help you keep your calendar up to date once you start working with clients. FreeAgent, for example, automates tasks such as inputting invoice data, reconciling bank transactions, running payroll, completing VAT and Self Assessment tax returns and even filing them to HMRC. When considering the options, it’s important to choose software that you find simple to use and enables you to provide your chosen set of services. Robust online bookkeeping software is vital for running a successful bookkeeping business from home. You can read more about the difference between accounting and bookkeeping in this guide. Be sure to factor in which services you can offer to different clients when planning your business and which are better suited to being handled by their accountant. The extent of your duties, the services you offer and the clients you can manage are likely to reflect your experience or the bookkeeping qualifications you’ve achieved. When considering which services you’ll provide, it’s crucial to establish where your responsibilities as a bookkeeper will end and where those of an accountant will begin. Preparing books for end of year accounts.Performing customer and supplier reconciliations.Ensuring regular payments are made (e.g.Making payments on behalf of the business.It’s important to carry out this step before you go on to think about the tools you’ll need to run your business, such as online bookkeeping software, so you can make the right choice. The services each client needs will be different, but you’ll need to decide which general bookkeeping services you’re going to provide. Which bookkeeping services are you going to offer? ![]() When thinking about your customer base, it’s important to consider who your customers will be, what services they’ll need and how you will provide them. Identifying your target customer base from the outset can help you avoid a few headaches down the road! There might be a particular industry or group of professionals that you’re familiar with from past experience, such as IT contractors or marketing freelancers, or you might have a preferred type of business to work with (e.g. ![]() However, it’s important to take the time to write a business plan and consider some important strategic questions before you get started: Who will your customers be? Starting your own bookkeeping business is an exciting prospect and it might be tempting to jump right in. Meanwhile, communication tools such as video calling and instant messaging apps, mean that 'virtual bookkeepers' (as they are sometimes known) can maintain the important human element of their businesses while working with their clients in this new way. With the software automating many of the most time-consuming tasks, such as reconciling bank transactions and running payroll, bookkeepers in the digital age have more time to take on new clients, provide enhanced services or to simply relax. The emergence of online bookkeeping software like FreeAgent has transformed the bookkeeping industry in the last decade, with bookkeepers now able to manage a business’s finances from almost any location. The role of a bookkeeper in the digital age Whether you’re at the beginning of your bookkeeping career or you’re thinking of making the switch to self-employment, this guide will help you get to grips with starting a bookkeeping business. Self-employment is fast becoming a popular career choice for bookkeepers.
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