Your introduction to bookkeeping & payroll study Sue Jones Home Learning College student IAB Levels 1,2 & 3

Your introduction to bookkeeping & payroll study Sue Jones Home Learning College student IAB Levels 1,2 & 3 1

Introduction Choosing to study towards your IAB qualification with Home Learning College is the first step towards a fulfilling career in bookkeeping or payroll. This guide will tell you more about: Which path is for me? A professional bookkeeping career Specialise in Computerised bookkeeping with Sage 50 A career in payroll Our IAB and AAT bookkeeping & payroll courses To help you get the most from your learning experience, we encourage you to take advantage of a conversation with one of our experienced Course Advisors. In preparation for this conversation it is worth considering some of the following points as you read through this guide: 1. How becoming qualified will help you achieve your professional ambitions 2. What outcome is most important to you 3. How online learning will fit around your current commitments 4. Which payment options are available to you 5. Any other questions and concerns you may have. The Home Learning College difference The benefits of studying online The admissions process To find out more, talk to one of our expert Course Advisors free on 020 7173 5676 We are open 9am-8.30pm weekdays and 10am-5pm weekends. www.homelearningcollege.com 2

Which path is for me? At Home Learning College we offer IAB courses in three areas; bookkeeping, computerised bookkeeping and payroll. This section outlines each area of the profession to help you decide which path is right for you. A PROFESSIONAL BOOKKEEPING CAREER SPECIALISE IN COMPUTERISED BOOKKEEPING WITH SAGE 50 A CAREER IN PAYROLL I can hold my head up high and say yes, I m a fully qualified Bookkeeper. Susan Jones, IAB Levels 1,2 & 3 3

A professional bookkeeping career Every business, no matter how large or small, is required by law to keep books. It is the role of the Bookkeeper to provide companies with a trusted framework that ensures financial information is recorded accurately and consistently, in order to assist in the preparation of accounts an essential aspect of any business. Bookkeeping can make for a varied and rewarding career, offering the ability to work in all types of businesses and organisations, or to run your own practice as a self-employed professional. What skills do I need? If you are a methodical and systematic worker, analysing a set of figures and seeing everything add up can make for very satisfying work. To work as a Bookkeeper you will benefit from the following skills: Strong organisational skills A head for numbers Attention to detail Analytical and problem solving skills Honesty and discretion A strong customer service ethic A high level of accuracy. The typical bookkeeper: Hours: 35-40, or varying with demand Salary: 25,000-42,000* Work Environment: Office / Home (self-employed) Entry Requirements: No formal requirements** * Average salary as shown on National Careers website **Although it will help to have basic qualifications in English and Mathematics. To find out more, talk to one of our expert Course Advisors free on 020 7173 5676 We are open 9am-8.30pm weekdays and 10am- 5pm weekends. www.homelearningcollege.com 4

Where could I go? As a qualified bookkeeper, you have the option to work in-house for an organisation, or set up your own practice and work with a number of clients. Work for an organisation: As every business requires a Bookkeeper, you can choose to work in any industry, in any sector, within organisations large or small. Working for an organisation gives you: Structure: Working in an office environment means you have clear reporting lines and predictable working hours Job stability: You have the security of a regular wage and avoid the financial risk associated with self-employment Focus on your area of expertise: You avoid the additional administrative tasks associated with self-employment, giving you more time to focus on your area of expertise. Work for yourself: Alternatively, you could choose to set up your own independent practice and work for yourself as a Sole Trader or further down the line, head of your own Limited company, with a portfolio of clients. Working for yourself comes with plenty of benefits: What would I be doing? Depending on which area you choose to specialise in, the work you could be doing as a fully qualified Bookkeeper may involve some or all of the following: Balancing accounts (also known as Double Entry bookkeeping) Processing invoices, receipts and payments Completing VAT returns Preparing invoices for the Inland Revenue Checking company bank statements Preparing cash flow statements Creating statements of accounts for limited companies Converting manual accounts to computerised accounts. BOOKKEEPING COURSES Decisions are in your hands: You are in total control, making decisions about how best to operate your business Work/life balance: You can set your own schedule, work from home and choose to the hours that suit you; fitting your career around your other commitments Earning potential: You have full claim to your success - not only can you feel proud to have built something of your own, but it is you who reaps the financial rewards Connect with clients: Work with clients across a range of business sectors and interact with them one-on-one, enabling you to build strong relationships and communicate on a personal level. The course worked so well for me. I allocated myself 15 hours a week and my assignments were marked within a few days which was great. I found the webinar links really useful and my tutor was brilliant, every time I d send an email he d respond within an hour. Carla Reed 5

Specialise in computerised bookkeeping with Sage 50 Specialising in computerised bookkeeping will provide you with the applied skills required to carry out computerised bookkeeping tasks within the work environment using Sage 50 accounts. Sage 50 Accounts is the comprehensive business management system that can provide valuable information on customers, suppliers, products and areas of profitability. Gaining practical knowledge and know-how is highly sought after by employers. Having a recognised certificate of competency on your CV indicates to employers that you have a comprehensive understanding of the capabilities of Sage software to hit the ground running in the workplace. With Sage 50 computerised bookkeeping skills gained on an IAB course you will have the financial expertise to work within a company, or keep the books for your own small business. Focused area of expertise Practical knowledge and know-how Recognised competence in a widely used software Efficient business management capabilities Comprehensive working knowledge of Sage 50 Accounts. What would I be doing? These applied computerised bookkeeping skills support a role that involves carrying out a range of routine and non-routine computerised accounting tasks using Sage 50 Accounts software, such as: Accurately entering accounting data into a computerised system Accounting for financial transactions made on credit Processing invoices, receipts and payments using batch entry Accounting for electronic payments made through BACS Processing financial transactions from the books of prime entry Completing electronic VAT returns Reconciling bank statements Correcting transaction errors Processing period end routines. COURSES 6

A career in payroll Payroll is a vital aspect of any organisation. All organisations with employed staff, however large or small, need to administer payroll and understand PAYE and National Insurance. Payroll professionals are required to make complex calculations and process payments within strict deadlines: making sure employees get paid the correct amount, at the correct time. Payroll professionals need to have an understanding of the legal requirements and rules in areas such as tax payment, maternity leave and exemption. If you have a general interest in the way payroll works, and like the idea of being directly involved in developing one of the most valued aspects of business delivering pay packets to employees payroll can make for a wellpaid and rewarding career. Why payroll? In-demand: Payroll professionals are essential to business, ensuring employees are paid correctly; supporting the backbone of the business itself Specialised: Become a specialised expert in Sage 50 Payroll - the most commonly used business computer software Structure: The payroll profession offers clear reporting lines and predictable working hours and strict, regular deadlines Focus on your area of expertise: develop expert knowledge of payroll and focus on this exciting and specialised area of interest. What skills do I need? To work as a Payroll professional, you will benefit from the following skills: Excellent numeracy and literacy skills Strong focus and attention to detail A high level of accuracy The ability to meet tight deadlines Excellent communication skills Analytical and problem solving skills Flexibility: Busy periods may require longer working hours Discretion: Administrators handle confidential and highly sensitive information. 7

The typical payroll professional: Hours: 35-40, or varying with demand Salary: 31,090-42,500* Work Environment: Office To find out more, talk to one of our expert Course Advisors free on 020 7173 5676 We are open 9am-8.30pm weekdays and 10am- 5pm weekends. www.homelearningcollege.com Entry Requirements: No formal requirements** * Average salary as shown on National Careers website **Although it will help to have basic qualifications in English and Mathematics. Where could I go? As a Payroll professional, you could find yourself working for a company s in-house accounts team, using specialist Sage software, or for a Payroll Bureau, providing payroll services for other companies. You might work for large companies or public sector organisations such as the NHS, or for a smaller independent company with fewer members of staff. With experience, you could progress to Payroll Supervisor or Manager level roles; responsible for running the payroll for hundreds, perhaps even thousands of staff, installing and introducing new payroll systems and undertaking wider HR responsibilities, such as monitoring company policies and procedures. What would I be doing? Depending on which area it is that you choose to specialise, the work you could be doing as a fully qualified Payroll professional may involve some or all of the following: Calculating accurate wages, including any bonuses, salary increases or overtime Deducting tax and national insurance payments Calculating statutory payments, such as maternity, paternity and sick leave Issuing pay by cash, cheque or electronic transfer Processing holiday, sick and maternity pay and expenses Answering staff queries about timesheets or pay slips Issuing relevant tax forms to HMRC Processing documentation for new starters and leavers Handling and responding to discrepancies and queries relating to payroll Providing assistance to Human Resources. COURSES 8

Professionally Accredited courses Our Bookkeeping and Payroll courses are accredited by the International Association of Book-keepers (IAB) and Sage Recording financial information and calculating pay are vital aspects of any business, which means that while there is always demand for Bookkeepers and Payroll professionals, qualifications are essential. We have partnered exclusively with the leading international awarding bodies in the field; the International Association of Book-keepers (IAB) and software provider Sage, to deliver high-standard online training courses in bookkeeping and payroll. The IAB The International Association of Book-keepers (IAB) is the leading UK and international professional body for those providing bookkeeping, accounting and payroll services to small businesses. IAB qualifications are regulated and approved by the government supervisory body (OFQUAL) and all Home Learning College IAB courses are part of the Qualifications and Credit Framework (QCF). This ensures students are studying towards the very best and most widely recognised financial qualifications. The AAT The Association of Accounting Technicians (AAT) is the UK s leading awarding body for skills-based accounting qualifications, with 125,000 members worldwide offering online accounting courses. AAT award nearly 90% of all vocational qualifications in finance and accounting; these qualifications are highly respected and recognised internationally. Sage Currently in use by six million UK businesses, Sage computerised accounting software makes the process of managing money, quotes, invoices, VAT, suppliers and PAYE as simple as possible. Research from Hays Accountancy and Finance shows that achieving professional qualifications can boost earnings by 51% more than unqualified colleagues. Robert Half FTSE 100 CEO Tracker 2012 Whether you are looking to open the doors to this dynamic and rewarding field or want to build on your existing skills, gaining an internationally recognised qualification accredited by the IAB and Sage will stand you in good stead for a strong career in bookkeeping or payroll. 9

IAB Professional Bookkeeping courses Learn the skills to work as a professional Bookkeeper for all types of businesses, or start your own bookkeeping practice. IAB qualifications are available at three levels: 1. Foundation Bookkeeping: If you are looking to master the basics of bookkeeping, the IAB Foundation Bookkeeping will give you a comprehensive overview of basic bookkeeping principles and Sage One Accounts software. 2. Intermediate Bookkeeping: If you already understand the basic principles of bookkeeping and are looking to enhance your skills in order to offer your professional services to others, the IAB Intermediate Bookkeeping course is the ideal next step. 3. Advanced Bookkeeping: If you have already completed your IAB level 2 bookkeeping studies and wish to further your knowledge to become fully qualified, the IAB Advanced Bookkeeping course will teach you how to undertake advanced bookkeeping processes and use Sage One Accounts software to its full functionality. All our bookkeeping courses come with Sage One Accounts Extra, the online version of the software that gives you the freedom to work when and where you want. It also has a shared access function which means your tutor can see your accounts online and give instant feedback on your work. Course snapshot Whether you are looking to open the doors to this dynamic and rewarding field, or want to build on your existing skills, gaining an internationally recognised qualification accredited by the IAB or the AAT will stand you in good stead for a strong career in bookkeeping. Course Level Equivalent to Study Units Tutor Marked Assignments Computerbased tests and exams Guided Learning Hours (approximate) Foundation Bookkeeping 1 Pre-GCSE 10 1 5 130 Intermediate Bookkeeping 2 GCSE 12 3 6 220 Advanced Bookkeeping 3 A-Level 24 2 9 360 How qualifications correlate to your career: IAB qualifications are highly regarded and provide you with the right skills required to succeed in this industry. Here is an example of what you could be earning at each stage of your career: Relevant Qualifications Position Salary Expectations Foundation Bookkeeping Accounts Clerk 21,500* Intermediate Bookkeeping Trainee Bookkeeper 27,000* Advanced Bookkeeping course *Source: TotalJobs.com Salary Checker 2014 Self-employed Bookkeeper / Ledger Manager 37,500* Accounts Manager 42,500* 10

AAT Intermediate Certificate in Bookkeeping As an alternative route our Intermediate Certificate in Bookkeeping course from the AAT will give you the starting skills and essential knowledge you need to manage books effectively. It is a great starting point for anyone wishing to start a career in the accounting industry. The AAT Level 2 Certificate in Bookkeeping consists of two separate units: 1. Processing bookkeeping transactions (PBKT) 2. Control accounts, journals and the banking system (CJBS) Tutor Group Study If you prefer structured deadlines to keep on track and you like interacting with likeminded people this is the right option for you. You are more likely to Pass first time when you study with a group. Stay motivated throughout your course and on track with deadlines Build a network of contacts How qualifications correlate to your career: AAT qualifications are highly regarded and provide you with the right skills required to succeed in this industry. Here is an example of what you could be earning* : Relevant Qualifications Position Salary Expectations AAT Intermediate Certification Acounts Administrator 22,000 Your learning is broken down into manageable bite sized weekly tasks which keeps you on track. You are still able to study in your own time and will fit around your personal lifestyle and work life. You will have a dedicated tutor who will support you through your studies and keep you motivated. The regular live classes provide you with the opportunity to ask questions and get responses while you are learning about the trickier units. AAT Intermediate Certification Bookkeeper 29,000 *Source: Salary Checker 2015 Course Level Equivalent to AAT Level 2 Certificate in Bookkeeping Study Units Tutor Marked Assignments Computerbased tests and exams Guided Learning Hours (approximate) 2 GCSE 2 2 2 85 11

IAB Computerised Bookkeeping courses Specialise in Computerised Bookkeeping with Sage 50. If you are looking to gain employment within a working business environment or want to learn how to use Sage software to support the financial management of your own small business, IAB Computerised Bookkeeping courses will provide you with the applied skills you need to work with Sage 50 Accounts software. Course snapshot Whether you are looking to open the doors to this dynamic and rewarding field, or want to build on your existing skills, gaining an internationally recognised qualification accredited by the IAB will stand you in good stead for a strong career in bookkeeping. Course Level Equivalent to Study Units Tutor Marked Assignments Computerbased tests and exams Guided Learning Hours (approximate) 1. IAB Levels 1 & 2 in Computerised Accounting for Business: If you are looking for a comprehensive introduction to Sage 50 Accounts software, this combined computerised accounting course with help you gain an understanding of basic bookkeeping principles, using the world-class software. 2. IAB Level 3 in Computerised Accounting for Business: If you are looking to build on your computerised bookkeeping skills, the Level 3 Computerised Accounting for Business course will teach you how to use Sage 50 Accounts software to its full functionality, and introduce you to advanced business management processes. 3. IAB Levels 1, 2 & 3 in Computerised Accounting for Business: It is also possible to combine levels 1, 2 & 3 for an all encompassing economical route from beginner to advanced level in one course. IAB Level 1 & 2 in Computerised Accounting for Business IAB Level 1, 2 & 3 in Computerised Accounting for Business IAB Level 3 in Computerised Accounting for Business 1-2 GCSE 2 10 9 190 1-3 GCSE / A-Level 6 20 18 390 3 A-Level 2 10 10 200 12

IAB Payroll courses Become a Payroll specialist and gain an in-depth understanding of Sage 50 Payroll. If you are keen to develop an understanding of basic payroll procedures, our IAB payroll courses will provide you with the hands-on knowledge and skills required for calculating and processing payments using Sage 50 Accounts, preparing you for employment as a professional Payroll Processor. 1. IAB Levels 1 & 2 in Computerised Payroll for Business: If you are looking to understand the basic principles of payroll and gain employment within the field, this combined levels 1 & 2 course covers the basic use of Sage 50 payroll, providing you with the essential skills and knowledge required of Payroll Clerk. 2. IAB Level 3 in Computerised Payroll for Business: If you are looking to develop the skills required for a Supervisory or Managerial level role in payroll, this Level 3 course will teach you how to perform advanced routine and non routine tasks in Sage 50 Payroll. 3. IAB Levels 1, 2 & 3 in Computerised Payroll for Business: It is also possible to combine levels 1, 2 & 3 for an all encompassing economical route from beginner to advanced level in one course. Course snapshot Course IAB Levels 1 & 2 in Computerised Payroll for Business IAB Levels 1, 2 & 3 in Computerised Payroll for Business IAB Level 3 in Computerised Payroll for Business Level 1 & 2 1, 2 & 3 Equivalent to GCSE Level Study Units Tutor Marked Assignments 12 2 A-Level 18 3 3 A-Level 6 1 Computer-based tests and exams 2 knowledge tests 3 skills test 3 knowledge tests 4 skills tests 1 knowledge test 1 skills assignment Guided Learning Hours (approximate) How qualifications correlate to your career: IAB payroll qualifications provide you with the hands-on knowledge required for calculating and processing payroll using Sage 50 Payroll software; skills highly valued by employers across the world. Here is an example of what you could be earning at each stage of your career: Relevant Qualifications Position Salary Expectations IAB Levels 1 & 2 in Computerised Payroll for Business Payroll Clerk/Administrator 25,000* 160 280 120 13

Online learning means you can study at your own pace, but you are not left all alone: we provide full tutor support for the duration of your course and how fast you progress is up to you. Knowledge tests and Tutor Marked Assignments (TMAs) are submitted online and marked by our tutorial team. External examinations will be booked in advance and must be attended in person at one of our approved exam centres. Carla Reed Home Learning College student Need help deciding which course to choose? If you are unsure what level you are at or which career path is right for you, our experienced Course Advisors will be able to help you identify your skills and areas for development and help you choose a course suited to you. They can be contacted free on 020 7173 5676 (Mon-Fri 9am- 8.30pm and Sat-Sun 10am-5pm). The idea of studying by distance learning really appealed to me. Having requested information, I chatted with a Course Advisor and I felt I was making the right choice of training provider. Richard Osiemo 14

The Home Learning College difference get qualified, get further Home Learning College is the largest online provider of professional qualifications in the UK. We know that most of our students have other commitments so we offer a revolutionary approach to learning that fits around them. Our students come first, which is why we take pride in delivering the very best learning experience. Here are just some of the many reasons our students choose to study with us: 98% pass rates We have an excellent average pass rate, with our recent results at 98% for our IAB courses * Two qualifications in one Our courses are accredited by the leading UK and international organisations in the bookkeeping and accounting field; IAB and Sage Flexible payment options We make funding your studies affordable with monthly payment plans over 12 months, or 18 months for levels 1, 2 & 3 combined ***Any Credit Agreement you enter into will be governed by Oakbrook Finances Terms and Conditions, as provided to you by Oakbrook. Any Credit Agreement you enter into is subject to a credit check and will be governed by Oakbrook Finance s Terms and Conditions, as provided to you by Oakbrook. 8 REASONS to study by distance learning with Home Learning College Live online classes You will benefit from regular live online classes with your course, giving you the chance to consolidate your learning and get *February 2014 IAB bookkeeping exam results **For bookkeeping courses only computerised bookkeeping & payroll courses come with Sage 50 & Sage 50 Payroll all versions available for the duration of your course Gold award winning College Home Learning College was awarded Gold Centre in the IAB 2013 Top UK and International Centre Awards All inclusive course package Our unique course package includes all course materials, live online classes, awarding body membership and exam fees 20 years experience We have trained over 60,000* Bookkeepers and Payroll professionals in IAB qualifications Free Sage one** All our computerised bookkeeping and accounting courses come with Sage software. Our computerised bookkeeping courses include Sage One Accounts Extra the online software that allows you to access your accounts from anywhere, at any time and share access securely with your tutor so you can work together collaboratively on the course By partnering with the IAB and Sage, we have set out to offer the best online bookkeeping courses available. The course materials made a lot of sense to me. I liked the fact you had the knowledge section and the skills section, so that you weren t just learning facts, you were able to put your learning into practice straight away. Sue Jones, IAB levels 1, 2 & 3 Watch the Video With a 5 month old son, the only option for me was to study from home. With Home Learning College, it was simple. You ve got online support, can speak with other students for advice or help and the tutors are extremely helpful. I m so proud to be a qualified. Home Learning College opened so many doors for me. Kalina Georgieva, IAB levels 1, 2 & 3 15

Learn on your own terms Today, many professionals choose to study online over a classroom alternative. They want the flexibility of online learning without sacrificing the personal support of a tutor. At Home Learning College, we have structured our courses to offer the best of both worlds. With us you can: Fit your studies around work and family life Get ongoing support from a personally assigned tutor Study from home or away Login to your coursework online and complete assignments and exams only when you are ready. Talk with your tutor via email, over the phone or online. Access your study materials from wherever you are and from any device. Collaborate with your tutor Continue to earn while you learn Connect with fellow students who are in the same position Invite your tutor to work with you on your Sage One account*, using secure access. Because you can earn while you learn, you can put your learning into practise as you progress through the course. Interact in our forums, share work or even find a study buddy that can work along with you. *Available with IAB bookkeeping courses only - computerised bookkeeping & payroll courses come with Sage 50 & Sage 50 Payroll 16

Virtual Learning Campus (VLC) Your Virtual Learning Campus (VLC) Studying online means you are able to access everything you need for your course in one place, via our Virtual Learning Campus (VLC), including all your course materials, ebooks, useful guides, assignment submission, practice tests and a wealth of other helpful resources. You will also be able to join live online classes and interact with other students using the student forums. With the VLC you will never feel alone in your studies. Practice tests Course materials Live classes I could finish an assignment at 1:00 a.m. and submit it immediately, rather than having to wait for normal working hours. The flexibility of this form of study really suited me. It allowed me to fit the course around the rest of my busy life. Assignment submission Karishma McDonald ebooks Videos 17

Get all the support you need Jo Fredriksen Home Learning College Head of Learning for Bookkeeping and Payroll When you enrol, you will be assigned a personal tutor who will be your main point of contact during your course; available via phone, email or online through the VLC. When you submit assignments for your course, your tutor will be able to access your submission via the VLC and mark your assignment within seven days. Jo Fredriksen is Head of Learning for Bookkeeping and Payroll at Home Learning College. Jo has a very strong bookkeeping background, with an entire career of bookkeeping expertise and experience behind her. Jo s responsibilities include customising learning plans and providing comprehensive welcome guides for new students. She also frequently checks her emails and phone messages, responding to emails within 24 hours but more often a turnaround of less than two hours is achieved. Phone calls are used when a more personal and supportive touch is required. I find my role extremely rewarding; to know that you have made a difference in someone s life and assisted them in an opportunity they otherwise might not have had is very fulfilling. My students are very passionate and disciplined so the tutor support and the course are designed to give them everything they need to succeed and they do! 18

Live online classes Learning online does not have to mean sacrificing the benefits of classroom learning. Online classes consolidate what you have learnt from your own studies with face-toface tuition and interaction with your fellow students. Your tutor will run regular classes covering the key topics for your course which you can join live or watch later via a recording. These classes allow you to be face-to-face with your tutor as you would in a traditional classroom environment with interactive features, including a white board, chat-box and poll question feature. Self-test questions allow you to check your progress as you go along. This all happens through your web browser. Kyveli Charalampidou and Daniel Hargreaves Home Learning College students 19

Career development hub Kalina Georgieva Home Learning College student We know that virtually all of our students are studying to improve their career prospects we give you the tools to ensure you can make the most of your new qualification. The Career Development Hub is a private online careers portal accessible only by our students, providing you with all the tools you need to progress with your professional career, including: ü ü Specialised CV builder Be fully prepared interview simulator allowing you to practise your interview skills Over 2,500 videos and advice articles from professionals Unique job search portal with over 250,000 jobs in the UK Psychometric and aptitude tests Weekly industry news updates. At the start of your course, you will be given access to the Career Development Hub via the VLC. 20

Are you ready to take the next step? Whether you know the course you want to study and are ready to get started, or you just want to have a chat with one of our experienced Course Advisors, all you need to do is give us a call free on 020 7173 5676 (Mon-Fri 9am- 8.30pm and Sat-Sun 10am-5pm). What to expect from your conversation Our Course Advisors are all trained experts in professional study and are here to help you make the right choices for your career. They will run through your employment history, previous qualifications and interests with you and use this to help determine the path you should take. Call free on 020 7173 5676 To make the most of this information and to help you decide on your next steps, we recommend you consider the following questions: Where do you want to go in your career? What do you want to get out of the course? How soon would you like to get qualified? Do you have any questions about online learning? Have you thought about payment options? Or visit us www.homelearningcollege.com We are here to help with expert advice and information, so you can take the next step towards a better career. 21