Starting a Bookkeeping Business with no experience

Starting a Bookkeeping Business with no experienceHad a phone call from a lady wanting some Quickbooks training. She’s been helping her husband, doing the books for a mechanics business. So she’s wanting to expand her income by setting herself up as a bookkeeper.

There is a great demand for bookkeepers, and as the population of the Gold Coast grows, so does the need for more of bookkeeping businesses. However, doing the books for your husband’s business does not qualify you to go and do the books for someone else.

This is exactly why the Federal Government Treasury Department has been working for over fifteen years to put some legislation in place to tighten up the bookkeeping industry

How will this legislation affect this lady when she sets up her bookkeeping business? Well, it’s unclear at this stage. There’s nothing to stop her from establishing her own bookkeeping business. The scary part came when she told me that she’s given the bookwork to her accountant, because last year her husband paid too much tax.

She told me that she couldn’t read a Profit & Loss Account, and wasn’t too sure about the balance sheet.

We are more than happy to train her in Quickbooks. The problem is that whilst its a great accounting software package, it’s not the total solution to running a bookkeeping business. She did a bookkeping course at TAFE, and at least she admits she doesn’t know that much about bookkeeping.

We know that the Tax Office doesn’t know what bookkkeepers do, and we also know that there are accountants that don’t know how to do bookkeeping.

The danger of starting a bookkeeping business with little experience in bookkeeping is that it can have grave consequences for any small business who’s unfortunate enough to take on an inexperienced bookkeeper. For more information Contact us

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