How to start an accountancy practice from scratch
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- Опубликовано: 22 май 2024
- How to start an accountancy practice from scratch
00:00 Timestamps
02:50 Qualifications
03:54 Practicing Certificates
05:26 Insurance
06:09 The Business
07:08 Finding Clients
08:04 Start Up Costs
09:23 Client Costs
10:42 Software Recommendations
* Affiliate links/own brand
// @Tax Dome
TaxDome is an all-in-one practice management software solution for CPAs, bookkeepers, and accounting firms.
It's a simple, powerful workspace designed to help manage your practice, clients, jobs, documents, teams and more. Through the use of their workflow automation platform with pre-made templates, you can have a clear visibility into your work to ensure nothing slips through the cracks. Using customisable templates for emails, messages, jobs, tasks, contracts, organisers and more, you can set up repeatable and predictable business processes for any type of service you provide on TaxDome.
Sign up for TaxDome here and get 2 additional user months for free: taxdome.com/en-gb/signup?fpr=...
Learn more about TaxDome on their website:
taxdome.com/en-gb
// PRACTICE MAKES PERFECT
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Great video! Some key points were highlighted that I hadn't heard anyone else discuss. Thank you!
Thanks for watching!
Found your post interesting to watch. I can't wait to see your new videos soon. Good Luck with the upcoming update. This RUclips channel is really very informative and effective.
Thanks for watching!
Great video Rachel, I guess the only thing missing is a ball-park start up cost figure
I think I disagree on your first point on qualifications. You can submit compliance reporting and final accounts, CT600s in the UK etc without being chartered. As long as you are competent. You actually don't need to have any accounting background to do that work in theory though its not advised. The chartered aspect of ACCA etc is purely on the side of audit work that you cannot do unless you are chartered.
In regards to practising license this is again not correct. I am part qualified with ACCA but I hold a practising license and I am AML supervised by IAB. This lets you conduct all the services listed above.
Hi Rachel!
Again you are the best delivering such a useful information in this video
What is the application for AML, CRM & Deadlines that you could definitely recommend?
Thank you 🙏🏻
Your videos are very useful and provide lots of information. I have received lots of help after watching this post, please continue to share this kind of information. Thank you.
Thank you 😊
I loved your video....
Thank you 😊
Hi Rachel, could you show me how to enter HP car purchase please thanks
hello, whats the most friendly app between xero and wave for a new llc for bookeeping ? thanks !
@accountant_she Could you tell me from your perspective whether management accounting or financial accounting is generally more useful to manage your accounting business? I can imagine that either route equips different skill sets that determine what type of accounting business you could start. Yet, do you think that management accounting provides a deeper glimpse into what to look at to have your business successfully running, more thoughtfully? - or am I going too far away?
You can also become a Chartered Management Accountant member in practice through CIMA, which doesn't allow you to perform auditor work but allows you to submit compliance reporting and final accounts, CT600s in the UK etc.
Speaking of having your own business, is CIMA considered generally inferior to ACCA or ICAEW?
@@TheDominock no it is not considered inferior, all professional qualifications have merits and develop unique skillsets relevant to the career path that the associate undertakes.
For example, ICAEW and ACCA candidates will acquire more knowledge in auditory work, tax compliance and statutory reporting.
With CIMA on the other hand, candidates will gain a more robust understanding of management accounts, and commercial/strategic management to allow businesses to grow profitably and manage cash flow.
Either way, they all require a minimum of 3 years of hard work, time and graft to obtain whilst working full-time to gain practical experience.
@@mez6809 Thx
Ew CIMA
@@TheDominock yes it is, look up average salary for ACA, ACCA, and CIMA. ACA is the most superior qualification and the main and only real ‘chartered accountancy designation’. ACCA is ‘chartered certified’.
❤
Do you have a course like that but applicable to US based CPA firms?
Thank you madam for your time. However, I had been waiting for the startup of this course upto 7 min but that did not happen.
I'm new in Utah. I am coming from Africa and I studied accounting up to a Bachelor level. I really need help.
Where are you from and is it possible to start accounting firm if One is qualified chartered accountant from other country's accounting body
I have been trying to obtained the practice licence and proving really difficult and slow with ACCA. Quite disappointed with the process, have to wait months for response and find the process... challanging.
Like the channel just trying to find some help :(
Hi I have a bachelor degree livel 6 from Eu country Accounting and Finance can I start working like a self employed accountant in Uk
Thank you
Can a graduate of finance as well MBA finance start his own accountancy firm ?
I done mba finance and msc finance can I get practice license?
Hello, I will soon graduate BSc (Hons) Accounting & Financial Management, can you tell me if I can run a business with services such as self assessment, Cis VAT, without having another qualification? Or what could you recommend for me going forward? Thank you!
Contact AAT and get a practicing certificate
Do you think it is possible to start accounting practice without having an experience in accounting practice…? I work in industry and I feel like I might lack knowledge for small business owners (after working in industry for firms where finance team is between 10-15 people) TIA! x
Hey! Practice experience will definitely help, but that doesn't mean it can't be done! 🚀 I'd recommend checking out my practice makes perfect course, which is an on demand course designed to help you start your practice. You can check it out here: rachel-harris-s-school3.teachable.com/courses/ 😊❤️
ACCA wont let you use your AAT practicing licence
Money’s only something you need in case you don’t die tomorrow.”
I have closed my job search and joined as a partner to an accountancy firm.
I am a CPA, CMA Finalist, MBA Finance, IFRS Certified and UAE Taxation Certified professional with 16 years of accounting, finance and taxation experience.
Your video helped me a lot to get some idea to sustain myself in this business.
Will you please upload any video for boosting an existing business of accounting firm?
Are you from India ?
God would you get to the point already