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Starting a Bookkeeping Business

Starting a bookkeeping business

You want to be a bookkeeper? You are ready and eager to take the next step and commence your own bookkeeping business, but, where do you turn, what do you do?? and most importantly - HOW!!

We are sure you will find the information below useful in assisting anyone looking at starting their own bookkeeping business and help in making the pieces fall into place.

Become an ICB Member and have full access to a wealth of resources including templates, charge rate calculator, end of year tips and tricks and a whole lot more, all specifically designed for bookkeepers by bookkeepers, click here for more information on ICB Membership

A copy of this checklist is available in both Word and PDF format, click below to download your copy.

Resources to assist new businesses	Steps to become a Certified Bookkeeper

ABN essentials - Link ABN, Lodging applications online - Link Accredited Certificate IV in Bookkeeping Training Providers - Link An explanation of different structure types - Link Apply for Membership - Link ASIC registration - Link ATO Checklist for a New Business - Link ATO GST for Small Business Checklist - Link BAS Agent Skill set - Link Books for Bookkeepers - Link Business grants and assistance - Link Business Plan, how to complete your - Link Charge Rate Calculator - Link Employing and Managing Staff - PDF Find out about different types of taxation, registration, deductions, payments and reporting - Link GST registration - Link Help to build your financial knowledge - Link How to get organised in your business - PDF How to start a new business - PDF Home Based Business Information Kit - Link ICB Hints & Tips on setting up a bookkeeping business - Link Marketing Plan Template - Link MYOB Training - Link Professional Indemnity Insurance - Link Reckon Training - Link Saasu Training - Link Starting a New Business - PDF Starting a business (business.gov.au) - Link Starting an Online business (business.gov.au) - Link TBP for BAS Agent Registration - Link Videos to start or grow your business (business.gov.au) - Link Xero Training - Link Resources for starting and growing your business from business.gov.au Checklist for starting your business - PDF Checklist for growing your business - PDF Checklist companion - PDF	Structure 1
	Step 1	Decide on a business identity and trading name (may trade under your own name initially) Prepare a Business Plan
	Step 2	Register a Business Name Register on ASIC
	Step 3	Register for an ABN and GST ABN Essentials Register for GST
	Step 4	Consider a corporate structure (Company either with or without a discretionary trust)
	Step 5	Understand and consider the ATO view on starting a new business ATO checklist for new business
	Step 6	Understand and consider the ATO GST Checklist for Small Business ATO GST Checklist for Small Business
	Step 7	Decide on your charging policy (Result based or time based) Charge Rate Calculator
	Education 1
	Step 1	Do some inital reading Bookkeeping for Dummies Bookkeeping education reference material
	Step 2	Decide on which software platform(s) you will use and know 1 MYOB / Xero / Reckon / Saasu / Other
	Step 3	Obtain some initial training from the software companies (see above)
	Step 4	Obtain your Certificate IV in Bookkeeping (including the BAS Agent skill set) Bookkeepers Guide to Certificate IV Continuing Professional Education
	Step 5	Obtain ICB Student Membership - provided by your ICB Certificate IV Accredited Training Provider or RTO ICB Accredited Training Providers ICB Student Membership
	Step 6	Be certified by ICB through ICB's Practical Bookkeeping Assessments

	Commencing Business (May occur while the above takes place) 1
	Step 1	Register your Business (see above)
	Step 2	Obtain Professional Indemnity (PI) Insurance
	Step 3	Apply for ICB Membership at appropriate level ICB Membership levels explained Apply online for ICB Membership
	Step 4	Following obtaining at least 1 years bookkeeping experience, obtain a Practising Certificate from ICB
	Step 5	If you are providing a BAS service, then you MUST register as a BAS Agent What is a BAS Service What can a bookkeeper do? What can a BAS Agent do?
	Step 6	Understand and consider the "How to engage with a client" from ICB

	Continuing to be Certified 1
	Step 1	Maintain the above registrations and insurance
	Step 2	Undertake the required CPE (Continuing Professional Education) each year
	Step 3	Undertake the ICB Annual Skill Review assessment

HQ: Level 27, 525 Collins Street, Melbourne, Victoria, 3000
T: 1300 85 61 81 E: info@icb.org.au