Home – New Forums Starting your journey Finished the course, now what? Reply To: Finished the course, now what?

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JacquiPryor, post: 145007 wrote:
Hey Abigail…

Hmmm… “Aburto90”, son’s first birthday just gone… I’m thinking we might just know each other :) Congrats on completing your course!

Your timing could be perfect actually. I currently do my own book-keeping but it’s one of the things to be reviewed on the 2013 plans. I’ll shoot you a direct message over the Xmas break to discuss perhaps contracting services etc.

I think Steve’s idea of volunteering services to a charity is a good one. Not only gets the experience, but, looks great that you are prepared to donate your time this way…nice piece of promotion!

As to gaining the first client & gaining experience, I would start promoting your services – like you mentioned – to business owners you know. I don’t think there’s anything wrong with charging for your time and work, but, the rate should reflect the level of experience absolutely. You could also start promoting via cost effective mediums – set up a facebook page, get your friends to join and tell their friends and family etc, as you never know who knows people needing bookkeeping services!

Would you be in a position to work 1 day a week outside of home? Or even a half day? I wonder if local accounting firms might have positions available, even if on a no-pay basis on a minimal time requirement like this that could provide truly valuable experience?

As to changing trading structure down the track. As Steve mentioned, the actual name change might be pretty subtle and not noticed. Remember even now as a sole trader if you trade by anything other than your own name you must register at least a business name (see http://www.asic.gov.au – $30 per year or $70 for 3 years). The ABN is yours, as you are the entity. So, when you change down the track a new entity will be formed and will need its own ABN. This would then need to be notified to your existing clients/suppliers etc. I don’t think it’s a big deal though, a letter out to your database at that time that explains there’s been a change, here are the new details etc should do the trick without anyone really thinking twice about it.

The other thing to keep in mind, and a search around here should find some further posts/threads on this – changing entities down the track could be seen as a sale of the business. This could in turn have tax implications etc so this should be considered.

And, if/when you are ready – if you know the structure you want, using a corporate services company to actually do the registrations for you could prove a big money saver. For example, http://www.shelcom.com.au (members here) provide these services at much lower costs than an accountant would charge.

Feel free to get in touch with questions or if you need to bounce ideas around – happy to help where I can :)

All the best, Jacqui

Yes, we do know each other!

Send me a message when you’re ready, I’d love to offer you my services and because the family is over your way, I can easily use a reason to go there!

Steve’s idea is great. I already started making a list of local non-profits to contact.

I am thinking of putting my little man in daycare one day a week, so I can block it out to visit clients and other neccessary appointments, so I will look into who/whats in the area for experience.

Thanks to for the thoughts on the name/entity change question, something I will be looking into more, with a good accountant.