Keeping clients in-house with your ICB qualifications

The ICB bookkeeping qualification gives you a solid base that you can build your practice on. Learning about manual bookkeeping is extremely important as it provides you with knowledge that allows you to work in virtually any software and also to understand what is going on behind-the-scenes.

Offer a Comprehensive Service

Building a complete and correct set of books is the basis of every additional taxation, management or payroll task, which means that you are only one step away from providing a full in-house service. Why is this important? As a practising bookkeeper myself I experience it day by day that small clients, including sole traders, partnerships and micro companies usually look for a one-stop-shop when it comes to their accounting needs. The reason? Easier communication, less delay, cost effectiveness and greater control.

Maximise your earnings

Preparing final accounts and submitting various returns often has a higher price tag than traditional bookkeeping because small business clients sometimes see submissions as the only ‘products’ of the service. With the rapidly growing number of self-employed and micro-businesses, and with the evolving cloud-based automation solutions, there is a great need for professionals who can tie up the loose ends in software products, as well as complete the workflow by way of submissions.

How to achieve it?

ICB has a perfect set of qualifications for members who wish to offer a one-stop-shop service and of course take a step on the highway of Continued Professional Development.

Let’s take a look at how you could benefit from each qualification:

Self Assessment Tax: SAT is one of the most valuable qualifications you can have as, with its help, you can file Tax Returns for the countless unincorporated entities such as self-employed individuals. In the run-up to the 31st January filing deadline, ‘tax return’ was searched for 20 times more than 'bookkeeper' in Google. As a service it opens up routes to other services including tidying up clients’ affairs with regular bookkeeping. With MTD on the horizon, this qualification will tie-in with bookkeeping even more!

FRS105: With the FRS105 qualification in your pocket you can prepare final accounts for micro entities and submit Corporation Tax Returns! Without an accountant? Yes! It is a great addition to your scope of services.

Drafting Financial Statements: takes incorporated matters one step further by offering accounts preparation and corporation tax returns to small entities additionally to micro entities. Expanding your knowledge and services will pay off!

Payroll Management: Payroll is often seen as the last piece of the puzzle for those who are in practice. Handling employee matters, processing salaries and submitting weekly/monthly RTI is a must for every employer which means that this service can provide you with well-planned and regular income!

Costing and Budgeting & Management Accounting: These two related qualifications are a little bit different as they help you retain existing clients by adding value. Providing useful management reports and tools to clients to make informed decisions is more and more important whether we are talking about budgetary issues, cash flow problems or help with costing.

 

Pre-requisites

OPTIONAL QUALIFICATIONS

 

Payroll Management

None

Self Assessment Tax

Level III Certificate in Bookkeeping and Accounts

Costing and Budgeting

Level III Certificate in Bookkeeping and Accounts

 

 

LEVEL 4 MODULES

 

FRS105

Level IV Certificate in Advanced Bookkeeping and Accounts

Drafting Financial Statements

Level IV Certificate in Advanced Bookkeeping and Accounts

Management Accounting

Level IV Certificate in Advanced Bookkeeping and Accounts

and

Costing and Budgeting

 

Eszter Petrinovics MA FICB PM.Dip

Tutor at Ideal Schools (ICB -SAT, Level IV modules)

Tutor of the Year Award laurels

For more information about how to study with Ideal Schools, please visit the Ideal Schools site via the links below:

Self Assessment Tax
FR105
Drafting Financial Statements
Level III Diploma in Payroll
Level IV Certificate CPD options

For more information about the ICB qualification structure click here

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