Starting an accountancy practice can be really rewarding. In fact it may just be the most rewarding thing that you do in your accountancy career. The joy of being your own boss giving you the flexibility to decide what you want to do and when you do it is immense. Having the ability to flex your work around other commitments can give you the work – life balance that you’ve always desired. That said, starting an accountancy practice is not a bed of roses. It involves hard work, dedication along with the expectation that to build a successful portfolio of…
Author: Admin
It seems that the life of a sole practitioner becomes ever more complicated with scores of regulations to follow every year. One set of rules that stand out are those related to anti money laundering. Although these rules have been around for a considerable amount of time, recent reports highlight that a significant number of accountants are falling foul of the regulations.
Introduction Hopefully, as a result of your marketing you will have generated some leads and potentially some people or businesses who are interested in your services. The big question is “what next”? How do you get these leads and referrals to become clients? This course takes you through what to do when you have generated warm referrals. This course gives verified CPD time of 45 minutes on completion. To find out more and to purchase the course just click on the image below. All of our courses are hosted on our Learning Management System Thinkific.
Introduction Starting out as a sole practitioner can be daunting. You have done the courses, passed the exams, perhaps had work experience, but you’ve never actually run your own practice before. There will undoubtedly be things that you come across for the first time that you have never seen before, don’t know how to approach and don’t know who to ask. Lots of research may be needed. Mistakes could be made. You know what you know and don’t know what you don’t know. All of this is normal; everyone starting out alone will have felt this way at some time…
Starting a practice is an exciting opportunity for those who relish the challenge of being their own boss. However there’s much more to having your own practice than being a technically good subject matter expert. There are many things that you need to do before your practice can even get off the ground. In this course we look at the essential things that you will need to address before you launch your practice and offer services to potential clients. This course gives verified CPD time of 45 minutes on completion. To find out more and to purchase the course just…
Although we’d love it if all of our clients used systems and kept their record keeping up to date, this is the real world and unfortunately it isn’t always the case that the records presented to you are fabulous. So incomplete records are something you may come across in your practice from time to time with a client turning up with a bag of messy paperwork, a bundle of disorganised electronic records or even worse – very little in the way of any records at all! This course will give some advice on how to approach these situations, and tips…
An accountancy, bookkeeping or tax advisory practice is just like any other business. Just as you would advise a client, before you start on your practice journey you should have a plan. If you don’t know where you’re going, any road will get you there – Lewis Carroll Everyone setting out on the journey of setting up a practice will be at different starting points. You’ll have different: There is no “one size fits all” starting position, plan or approach to your practice. During the preparation of your business plan you may find a number of areas where you feel out…
Every Sole Practitioner will understand the importance of a Letter of Engagement and Terms of Business but just how practical are these documents when it comes to content and readability? How many of your clients would have actually read your letter of engagement? Does that leave you exposed when it comes to any potential work or fee disputes? Is there a better way of presenting the important information to a client that they need to know about when it comes to the services that you are offering, the fees that you will charge, when you will bill the client and…
Definition – Marketing The action or business of promoting and selling products or services. Oxford dictionary Marketing is a word that can fill a sole practitioner with dread. The thought of cold calling or attending network events can send shivers down the spine of many a technically gifted sole practitioner whilst others may relish the challenge. However you feel about it, one thing is certain – you simply cannot run any business without marketing and that includes an accountancy, bookkeeping or tax advice business. You can be exceedingly technically gifted with excellent knowledge of your subject matter but to own…
It can be daunting to deliver your first client self assessment tax return when you haven’t done one before. You may have studied the subjects, undertaken some work experience perhaps and feel that you have enough knowledge to do the work but it’s good to have structure and a check list to hand when you do things for the first time …. or even the first few times. This course guides you through what to cover when doing a self assessment tax return for a client for the first time. It includes a useful checklist that can be reused each…