Hello all... I was a graphic designer for years. I eventually incorporated and ran the business with my husband. I went from doing everything on paper to doing corporate bookkeeping in QuickBooks (desktop version.)
I'm a little rusty but it wasn't that hard for me and I'm sure I'd pick things back up again quickly.
My questions are:
- worth to spend the time/money to get certified? am I going to learn anything that I didn't already know? keep in mind I was primarily a designer and while my accountant said I did a good job, I remember realizing that there was a lot about accounting/bookkeeping back then that I didn't know.
- will this help me get new clients? I haven't been in the workforce for several years (raising a child) and I'm thinking that certification might help a new clients feel more confident hiring me.
Thanks in advance for your input.
What certification are you thinking about?
What certification are you thinking about?
Getting certified as a bookkeeper for those who don't have an accounting background/education.
I don't know that it will help with getting more clients, but it is definitely worth the getting for your own knowledge. It will also help you in fixing QB issues for clients, if you understand the accounting that goes on, behind the scenes in QB.
IMO, getting certified shows a level of competency in bookkeeping. Very recent knowledge and competency. If that doesn't help you gain new clients I don't know what would, other than completing a 2 to 4 year college degree with a major in accounting. And that is too time consuming and expensive, and not necessary IMO.
Yes, the textbooks that AIPB offers will teach you things you didn't know. Payroll laws, for one, how to clean up a bookkeeping nightmare with prior period adjustments, for another. How to accrue for liabilities and revenue for another. How to determine ending inventory for a quarter and calculate cost of goods sold without having to actually count inventory for another. (Gross Profit and Retail Inventory methods of estimating inventory on hand) How to properly account for the purchase of Inventory and how to properly relieve Inventory and charge cost of goods sold using FIFO, average cost, or LIFO etc. How to setup internal control mechanisms for a company that has, say 10 employees, so that the potential for fraud and malfeasance is minimized.
And if you don't understand how QuickBooks records transactions, there is the potential that a clients books could be messed up badly. Understanding double entry bookkeeping is a pre-requisite so that doesn't happen. I went to work for a retail/wholesale western boot sales company about 15 years ago and discovered, after working there for a couple of months, that the office manager didn't know or care how QB was recording transactions. When she paid for a shipment of boots to be used as inventory, she'd debit cost of goods sold and credit the checking account. Then, when a pair of boots from that inventory shipment was sold, QB debited cost of goods sold, again, and credited Inventory. Talk about a can of worms. Our petty cash showed a balance of $6,500, but we never kept more than $600 on hand. The office mgr never reconciled the account and expensed the items that needed expensing. There were a lot of bookkeeping problems left for me to clean up. Some of that required making prior period adjustments for prior years' transactions. The prior two years cumulative net loss was over stated by at least $250,000. With annual revenues of only $450,000 to $500,000, such an overstatement was very material for tax purposes.
My two cents worth.
I agree that it shows a level of competency, and increases your confidence. The problem is that not many folks have heard of AIPB and their Certification. Potential clients don't know to look for it.
It would probably be helpful to have an "about" page on your business website to give some background on yourself and your experience and education. Also a photo of yourself. This would be a good place to provide a paragraph or two about the certification, parts covered, and perhaps give a little background on the AIPB.
Casey, do you think a QB Pro Advisor certification helps in picking up clients? I suspect the answer is yes.
Agree, to all the things for a website! I have "What is a CB" page on mine, since they see CB after my name. ABSOLUTELY become a ProAdvisor! Once you have the certification requirements, you can be listed in the "Find an Export" database, that is within QB. I get a lot of clients that way, or somethings just quick questions, or training needs.