{"id":10637,"date":"2022-02-08T10:00:00","date_gmt":"2022-02-08T10:00:00","guid":{"rendered":"https:\/\/www.sage.com\/en-gb\/blog\/?p=10637"},"modified":"2025-05-07T14:55:53","modified_gmt":"2025-05-07T13:55:53","slug":"money-diaries-entrepreneurial-accountant","status":"publish","type":"post","link":"https:\/\/www.sage.com\/en-gb\/blog\/money-diaries-entrepreneurial-accountant\/","title":{"rendered":"An entrepreneurial accountant finding clients through Facebook on \u00a330k"},"content":{"rendered":"<header class=\"entry-header has-dark-background-color entry-header--has-illustration entry-header--has-illustration--generic\">\n\t<div class=\"container\">\n\t\t<div class=\"entry-header__row row align-center\">\n\t\t\t<div class=\"col col-lg-7 col-xlg-6 entry-header__content\">\n\t\t\t\t\t\t\t<div class=\"component component-single-header\">\n\t\t\t\t\t\t\t\t\t\t<div class=\"entry-header__misc text--subtitle text--uppercase text--small\">\n\t\t\t\t\t\t\t<a href=\"https:\/\/www.sage.com\/en-gb\/blog\/category\/money-matters\/\" class=\"entry-header__link\">Money Matters<\/a>\t\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t<div class=\"entry-title-wrapper\">\n\t\t\t\t\t<h1 class=\"entry-title\">\n\t\t\t\t\t\tAn entrepreneurial accountant finding clients through Facebook on \u00a330k\t\t\t\t\t<\/h1>\n\t\t\t\t<\/div>\n\n\t\t\t\t\t\t\t\t\t<p class=\"entry-header__description\">\n\t\t\t\t\t\t\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t\t\n\t\t\t\t\n\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n\t<div class=\"single-post-details container\">\n\t\t<div class=\"col\">\n\t\t\t<span class=\"posted-on \"><time class=\"entry-date published\" datetime=\"2022-02-08T10:00:00+00:00\">8 February, 2022<\/time><\/span><span class=\"reading-time\"> min read<\/span>\n\t\t<button\n\t\t\ttype=\"button\"\n\t\t\tclass=\"social-share-button button button--icon button--secondary js-social-share-button\"\n\t\t\tdata-share-title=\"An entrepreneurial accountant finding clients through Facebook on \u00a330k\"\n\t\t\tdata-share-url=\"https:\/\/www.sage.com\/en-gb\/blog\/money-diaries-entrepreneurial-accountant\/\"\n\t\t\tdata-share-text=\"Please read this interesting article\"\n\t\t>\n\t\t\t<span class=\"social-share-button__share-label\">Share<\/span>\n\t\t\t<span class=\"social-share-button__copy-label\" hidden>Copy Link<\/span>\n\t\t\t<span class=\"social-share-button__copy-tooltip\" aria-hidden=\"true\" hidden>Copied<\/span>\n\t\t<\/button>\n\n\t\t\t\t<\/div>\n\t<\/div>\n<\/header>\n\n\n<div class=\"wp-block-post-author has-dark-background-color alignfull\">\n\t<div class=\"container\">\n\t\t<div class=\"col\">\n\t\t\t\t\t\t\t<div class=\"co-authors\">\n\t\t\t\t\t\n\t\t<div class=\"entry-author-wrapper\">\n\t\t\t<a class=\"entry-author\" href=\"https:\/\/www.sage.com\/en-gb\/blog\/author\/secretentrepreneur\/\">\n\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"40\" height=\"40\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Secret-Entrepreneur-1-350x350.jpg\" class=\"entry-author__image\" alt=\"Secret Entrepreneur\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Secret-Entrepreneur-1-350x350.jpg 350w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Secret-Entrepreneur-1.jpg 450w\" sizes=\"auto, (max-width: 40px) 100vw, 40px\" \/>\t\t\t\t<span class=\"entry-author__name\">Secret Entrepreneurs<\/span>\n\t\t\t<\/a>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n\n\n\n<p><strong><em>Welcome to The Money Diaries with Sage, where we dive into the finances of business owners and discover how they deal with money matters on a daily basis. <\/em><\/strong><\/p>\n\n\n\n<p><strong><em>We&#8217;re asking entrepreneurs how they&#8217;re managing their finances over a seven-day period, to give you a picture of what incomes and outgoings really look like from their perspective.&nbsp;<\/em><\/strong><\/p>\n\n\n\n<p><strong><em>Today is the turn of an accountant who finds clients through Facebook and does the finances for 13 youth football teams.<\/em><\/strong><\/p>\n\n\n\n<p><em><strong>And make sure you check out <a href=\"#reader\">Reader&#8217;s Response at the end of this article<\/a>, where <em><strong>accountant<\/strong><\/em> and best-selling author <a href=\"https:\/\/www.carlreader.com\/\">Carl Reader<\/a> reveals his thoughts and shares some top tips for our entrepreneur.<\/strong><\/em><\/p>\n\n\n\n<p>Here&#8217;s what we cover in this article:<\/p>\n\n\n\n<p><a href=\"#meet\">Meet our entrepreneur and check out their Money Diary<\/a><\/p>\n\n\n\n<p><a href=\"#reader\">Reader&#8217;s Response <\/a><\/p>\n\n\n\n<div class=\"single-cta\">\n\t<a\n\t\tclass=\"button button--primary gate-0a38bfe5-48d7-44eb-b934-14aa781da0ca\"\n\t\trole=\"button\"\n\t\tdata-button-location=\"content_area\"\n\t\thref=\"#gate-0a38bfe5-48d7-44eb-b934-14aa781da0ca\"\n\t>Download your free copy of How to boss your small business banking for advice to help you stay on top of your finances<\/a>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"meet\">Meet our entrepreneur and check out their Money Diary<\/h2>\n\n\n\n<p><strong>Industry:<\/strong> Accountancy. Started my own practice in June 2020 after working in practice for more than 17 years.<\/p>\n\n\n\n<p><strong>Location:<\/strong> County Durham, North East England.<\/p>\n\n\n\n<p><strong>Salary:<\/strong> Approximately \u00a330K per annum (working around 22 hours per week).<\/p>\n\n\n\n<p><strong>Household:<\/strong> Husband, daughter aged 11, son aged nine, family pet (a Miniature Schnauzer).<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header2-day-1.jpg\" alt=\"Money Diaries day 1\" class=\"wp-image-10744\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header2-day-1.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header2-day-1-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header2-day-1-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header2-day-1-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"monday\">Day 1  \u2013 Monday<\/h2>\n\n\n\n<p>Every morning, after dropping my son off at school\u2014a five-minute walk from home\u2014the first thing I do is hop in the car and drive to the nearest garage to grab my morning Costa Coffee from the machine there. <\/p>\n\n\n\n<p>It&#8217;s a routine that I&#8217;ve developed over the past 18 months working from home, which is where my business is based.<\/p>\n\n\n\n<p>It was a conscious decision to work from home rather than take on office space but not a decision motivated by money. <\/p>\n\n\n\n<p>Yes, I save on the cost of an office and the commute, but the most important factor in the decision was the freedom and flexibility that working from home offers.<\/p>\n\n\n\n<p>I have a lovely, dedicated office space with everything I need to service my clients. <\/p>\n\n\n\n<p>I wanted to build a digital practice utilising all the technology available, which means that having a physical office space that clients can visit is not a necessity.<\/p>\n\n\n\n<p>After coffee, work! <\/p>\n\n\n\n<p>This Monday was not a usual Monday. It was a personal development day at my daughter&#8217;s school, so she was home. <\/p>\n\n\n\n<p>My diary was free of appointments since I&#8217;d blocked out my calendar to be around for her.<\/p>\n\n\n\n<p>Work consisted of:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Checking in with our payroll department to see if we had received agent authorisation for a number of new clients we have taken on recently.<\/li>\n\n\n\n<li>Reviewing a client&#8217;s Sage to ensure they are getting to grips with the bookkeeping. I have recently migrated this client from spreadsheets to Sage after they registered for VAT and needed to be <a href=\"https:\/\/www.sage.com\/en-gb\/making-tax-digital\/accountants\/\">Making Tax Digital compatible<\/a>.<\/li>\n\n\n\n<li>Following up with a client who had been sent accounts and tax return for approval.<\/li>\n\n\n\n<li>Calling ACCA to check on the progress of the renewal of my practising certificate.<\/li>\n\n\n\n<li>Running a monthly payroll for a client.<\/li>\n<\/ul>\n\n\n\n<p>At around lunchtime I downed tools to drop my daughter and her friends off at the cinema in the local shopping centre. <\/p>\n\n\n\n<p>While there, I popped into Costa and bought myself a toastie for lunch, which I ate in the car on the drive home. I also got two coffees, which I used my loyalty points to pay for.<\/p>\n\n\n\n<p>My friend and I drank the coffees on our daily dog walk. We try to get together every day, work\/life permitting, to get our steps in, get some fresh air, and have a good old moan\u2014it&#8217;s very cathartic!<\/p>\n\n\n\n<p>I usually do another hour or so of work before I pick my son up from school. <\/p>\n\n\n\n<p>The next couple of hours are spent making tea, chatting to the kids, sorting washing and homework and so on for the following day.<\/p>\n\n\n\n<p>I had given my daughter \u00a320 to go to the cinema plus another \u00a310 for emergencies. She returned victorious with the \u00a310 emergency money AND another \u00a310. <\/p>\n\n\n\n<p>She made me laugh when she told me she&#8217;d gone to local supermarket to buy her sweets because it was cheaper than buying them in the cinema. <\/p>\n\n\n\n<p>The apple doesn&#8217;t fall far from the tree.<\/p>\n\n\n\n<p><strong>Money spent: \u00a38.41<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a360.00<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header3-day-2.jpg\" alt=\"Money Diaries day 2\" class=\"wp-image-10745\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header3-day-2.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header3-day-2-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header3-day-2-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header3-day-2-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"tuesday\">Day 2  \u2013 Tuesday<\/h2>\n\n\n\n<p>The business has reached the stage of growth where I can no longer do everything myself. <\/p>\n\n\n\n<p>I already outsource payroll but have recently taken on some additional help in the form of a subcontracted bookkeeper.<\/p>\n\n\n\n<p>The hours and work are on an ad-hoc basis. These costs are for the month of November (the start date of my Money Diary was 29 Nov). <\/p>\n\n\n\n<p>Giving over control and trusting someone else was a big challenge for me, and to be honest it&#8217;s something I&#8217;m still struggling with.<\/p>\n\n\n\n<p>But the instant relief I felt knowing that I had some help tells me I&#8217;ve made the right decision. Hopefully, this will free up some of my time and headspace so I can continue to grow the business.<\/p>\n\n\n\n<p>The majority of my clients pay their annual fee in fixed monthly instalments, which are collected automatically by direct debit via GoCardless. <\/p>\n\n\n\n<p>This helps both the client&#8217;s and my cash flow, while reducing the admin burden on me and leaving more time for client work.<\/p>\n\n\n\n<p>The \u00a3320 was a fee for a one-off piece of work that involved me migrating the client from their desktop accounting system to a cloud-based package\u2014both Sage. <\/p>\n\n\n\n<p>As well as saving them more than \u00a3100 per month in subscription fees, it means that I can provide remote bookkeeping services.<\/p>\n\n\n\n<p>Their previous bookkeeper worked 16 hours per week in the office. <\/p>\n\n\n\n<p>I have been able to implement systems that mean I can offer a higher level of service remotely and reduce the time it takes to do the work to around 16 hours per month.<\/p>\n\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">The Money Diaries with Sage <\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p class=\"\">In our financial series, anonymous entrepreneurs offer a no-holds-barred look at their salaries, expenses and daily spending habits. Ready to take a peek?<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"https:\/\/www.sage.com\/en-gb\/blog\/tag\/money-diaries\/\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\tid=\"cta-id-10766\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\tdata-button-location=\"cta_box\"\n\t\t\t\t\t\t\t\t\t\t\t>Find out more<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1150431964-1-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1150431964-1-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n\n\n<p>Anyway, I started work late today because I had some life admin to take care of. <\/p>\n\n\n\n<p>After the school run, I made a trip to the local sports shop in search of a tracksuit for my football-mad daughter. It&#8217;s one of her Christmas presents, so that&#8217;s another item ticked off the list (\u00a350).<\/p>\n\n\n\n<p>I had to have my Costa en route (\u00a32.80) and decided I couldn&#8217;t pass up a Christmas Yule Log to go with it (\u00a31).<\/p>\n\n\n\n<p>After, I headed to my local Asda for the big shop. \u00a3160 later, we had food to eat and four pairs of matching Christmas pyjamas for all the family.<\/p>\n\n\n\n<p>In between putting away the shopping, walking the dog, another school run, feeding the kids, and a freezing cold football training session, I managed to get my head down and do some work.<\/p>\n\n\n\n<p>I spent my time responding to client emails, registering a client for the <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/construction-industry-scheme-guide\/\">Construction Industry Scheme<\/a>, entering agent authorisation codes, processing supplier invoices in <a href=\"https:\/\/www.autoentry.com\/integrations\/sage\">AutoEntry<\/a>, processing bank transactions from the bank feed in <a href=\"https:\/\/www.sage.com\/en-gb\/sage-business-cloud\/accounting\/\">Sage Accounting<\/a>, and taking care of some of my own bookkeeping and admin.<\/p>\n\n\n\n<p>I worked late today but that&#8217;s OK. Days like these remind me why I wanted to start my own business and highlights the benefits of being able to work from home. <\/p>\n\n\n\n<p>The day wasn&#8217;t a write off just because I had things on that needed my attention.<\/p>\n\n\n\n<p>I still had a busy and productive day without dropping any work\/life balls\u2013result!<\/p>\n\n\n\n<p><strong>Money spent: \u00a3322.50<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a3517.36<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header4-day-3.jpg\" alt=\"Money Diaries day 3\" class=\"wp-image-10746\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header4-day-3.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header4-day-3-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header4-day-3-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header4-day-3-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"wednesday\">Day 3  \u2013 Wednesday<\/h2>\n\n\n\n<p>Beyond a couple of coffees today, there were no expenses from my account and this is not unusual. <\/p>\n\n\n\n<p>Most of my business expenses are collected monthly via direct debit, so by this point in the month most of my bills have already been paid.<\/p>\n\n\n\n<p>I like doing things this way because it means that I know exactly what is going out each month and don&#8217;t have the hassle of remembering when to make payment or having to log into my banking app to make payment.<\/p>\n\n\n\n<p>My business overheads are relatively low. Software and subscriptions are by far my largest costs.<\/p>\n\n\n\n<p>The fee I received today is from my first ever client. <\/p>\n\n\n\n<p>They&#8217;d posted on Facebook that they were looking for a new bookkeeper and a friend of mine tagged me in the post. I messaged them, arranged an initial meeting, and the rest is history.<\/p>\n\n\n\n<p>I migrated them from Sage desktop to <a href=\"https:\/\/www.sage.com\/en-gb\/sage-business-cloud\/accounting\/\">Sage Accounting<\/a>, implemented AutoEntry, connected bank feeds and set up systems and processes to enable the accounting function to run much more smoothly.<\/p>\n\n\n\n<p>I keep in contact with the client several times a week, and as well as keeping their bookkeeping up to date and <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/mtd-for-vat-business-tame-tax\/\">submitting quarterly VAT returns<\/a>, I also provide monthly management information which is presented to the board of directors.<\/p>\n\n\n\n<p>Today was the first of the month which means it&#8217;s bill day.<\/p>\n\n\n\n<p>This is for the handful of clients who either pay a variable fee or don&#8217;t pay their monthly fixed fee via GoCardless. <\/p>\n\n\n\n<p>The recurring invoices are already created and saved as drafts. <\/p>\n\n\n\n<p>My job is to review them, make any necessary changes, and then issue the invoice via my accounting software.<\/p>\n\n\n\n<p><strong>Money spent: \u00a35.60<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a3410.00<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header5-day-4.jpg\" alt=\"Money Diaries day 4\" class=\"wp-image-10747\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header5-day-4.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header5-day-4-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header5-day-4-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header5-day-4-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"thursday\">Day 4  \u2013 Thursday<\/h2>\n\n\n\n<p>Some personal expenses today: coffee \u00a32.80, petrol \u00a340, and another \u00a33.80 on coffee and chocolate.<\/p>\n\n\n\n<p>Again, nothing was paid out of my account today. It&#8217;s nice to see the balance getting bigger each day.<\/p>\n\n\n\n<p>I&#8217;ve mentioned that along with software, my other largest costs are subscriptions. This is primarily made up of payments to ACCA for my annual membership and practising certificate renewal.<\/p>\n\n\n\n<p>I am very proud to be a qualified accountant and member of the ACCA. I worked extremely hard to achieve my qualification and obtaining a practising certificate is no mean feat either.<\/p>\n\n\n\n<p>What this means for my clients is that they have peace of mind that when they engage me, they are in the hands of someone qualified, committed, and accountable.<\/p>\n\n\n\n<p>This also means that I have to complete at least 40 hours of CPD or continuing professional development every year to keep my skills and knowledge current.<\/p>\n\n\n\n<p>As a sole practitioner I don&#8217;t have colleagues whose experience and knowledge I can draw on, so I have to find alternative resources. <\/p>\n\n\n\n<p>As well as this subscription I&#8217;m a member of some online communities with are invaluable and a great support to me.<\/p>\n\n\n\n<p>The income from GoCardless (\u00a3415 less fees of \u00a35.46) is for two one-off pieces of work:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u00a3250 for a <a href=\"https:\/\/www.sage.com\/en-gb\/blog\/file-a-tax-return-online\/\">Self Assessment tax return<\/a> for a client with employment income and income from property.<\/li>\n\n\n\n<li>\u00a3165 from a client for a two-hour training session on how to use Sage Accounting and AutoEntry.<\/li>\n<\/ul>\n\n\n\n<p>The other income is from an interesting client. <\/p>\n\n\n\n<p>Both of my kids are keen footballers and play for local youth teams. The treasurer was retiring, and I was asked if I would take up the role.<\/p>\n\n\n\n<p>It&#8217;s rewarding but challenging. I charge a nominal fee (which doesn&#8217;t begin to cover the costs) and look after the finances of 13 youth teams. <\/p>\n\n\n\n<p>It is like have 13 clients rolled into one, but I&#8217;m doing my bit for the community.<\/p>\n\n\n\n<p>I had planned on starting work mid-morning today because I had an appointment at the local beauty salon. I have a standing three-weekly appointment, which I really look forward to, usually costing \u00a330.<\/p>\n\n\n\n<p>However, Storm Arwen scuppered those plans having left lots of homes and businesses in our village without power. So instead, I got straight into it after the school run. <\/p>\n\n\n\n<p>Today&#8217;s to-do list contained the following:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Schedule Facebook posts. I usually set aside half a day to do this every couple of months<\/li>\n\n\n\n<li>Watch a webinar about VAT\/Brexit\u2014boring but essential<\/li>\n\n\n\n<li>Bookkeeping for two clients<\/li>\n\n\n\n<li>Pay some invoices for a client whose finance function I manage<\/li>\n\n\n\n<li>Book a hotel for my mam&#8217;s birthday, a gift from my dad<\/li>\n\n\n\n<li>Order some perfume for my mam from us for her birthday\u2013cost \u00a330<\/li>\n\n\n\n<li>Take B, our dog, to the vet for her injections. No costs here as it&#8217;s covered by our monthly payment plan.<\/li>\n<\/ul>\n\n\n\n<p><strong>Money spent: \u00a346.60<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a3539.54<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header6-day-5.jpg\" alt=\"Money Diaries day 5\" class=\"wp-image-10748\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header6-day-5.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header6-day-5-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header6-day-5-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header6-day-5-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"friday\">Day 5  \u2013 Friday<\/h2>\n\n\n\n<p>Personal: coffee, \u00a32.80, Top up my daughter&#8217;s Scopay (app for school-related costs) account, \u00a340.<\/p>\n\n\n\n<p>The only activity on the business account today was a payment of \u00a34.40 for bank charges. I bank with Tide, which is one of the online challenger banks. <\/p>\n\n\n\n<p>It integrates with my accounting software and GoCardless, which makes my life so much easier.<\/p>\n\n\n\n<p>I had to login to my daughter&#8217;s Scopay account to top up her cafeteria account. \u00a340 should be more than enough to keep her going until the Christmas holidays. <\/p>\n\n\n\n<p>Scopay is an online payments facility for parents and is used to pay for school dinners, trips, event, etc. It&#8217;s another online tool that saves time and stress, and so it&#8217;s right up my street.<\/p>\n\n\n\n<p><strong>Money spent: \u00a34.40<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a30<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1675\" height=\"575\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header7-day-6.jpg\" alt=\"Money Diaries day 6\" class=\"wp-image-10749\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header7-day-6.jpg 1675w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header7-day-6-768x264.jpg 768w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header7-day-6-1440x494.jpg 1440w, https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header7-day-6-1536x527.jpg 1536w\" sizes=\"auto, (max-width: 1675px) 100vw, 1675px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"saturday\">Days 6 and 7  \u2013 Saturday\/Sunday<\/h2>\n\n\n\n<p>Saturday mornings usually centre around football, but this weekend is different.<\/p>\n\n\n\n<p>I&#8217;m off to York for a girly overnighter with 10 of my friends to celebrate a birthday. <\/p>\n\n\n\n<p>It feels like there is a military level of planning required to organise the logistics of a night away leaving behind two kids and a dog; my husband works offshore so is not around to pick up the slack this weekend.<\/p>\n\n\n\n<p>But with the help and support of friends and family we have everything covered.<\/p>\n\n\n\n<p>First stop for me is the hairdressers where I have my hair curled, which was \u00a310 plus tip. Next, a local pub where the minibus collects us to take us to the train station. <\/p>\n\n\n\n<p>We are travelling first class today as a treat. The cost is \u00a337 for a return journey.<\/p>\n\n\n\n<p>York includes lots of drinks, laughs and dancing, costing roughly \u00a3100. And the hotel for the night came to \u00a380. But overall, the weekend was priceless.<\/p>\n\n\n\n<p><strong>Money spent: \u00a3227.00<\/strong><\/p>\n\n\n\n<p><strong>Money earned: \u00a30<\/strong><\/p>\n\n\n\n<p><strong>Total money earned this week: \u00a3614.51<\/strong><\/p>\n\n\n\n<p><strong>Total money spent this week: \u00a31,526 <\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"reader\">Reader&#8217;s Response<\/h2>\n\n\n\n<p>And to wrap up&#8230; what are Carl Reader&#8217;s thoughts on the financial habits of our entrepreneurial accountant? <\/p>\n\n\n\n<p>Check out the video below to find out&#8230; <\/p>\n\n\n<div class=\"video-container-wrap -mode-full\"><div class=\"video-container\"><video\n\t\t\t\tclass=\"sage-video video-js vjs-default-skin \"\n\t\t\t\twidth=\"640\"\n\t\t\t\theight=\"360\"\n\t\t\t\tdata-setup='{ \"controls\": true, \"aspectRatio\" : \"16:9\", \"poster\": \"https:\/\/img.youtube.com\/vi\/Dti12EW-tQ8\/maxresdefault.jpg\", \"techOrder\": [\"youtube\"], \"enablejsapi\": 1, \"origin\": \"https:\/\/www.sage.com\", \"sources\": [{ \"type\": \"video\/youtube\", \"src\": \"https:\/\/www.youtube.com\/watch?v=Dti12EW-tQ8\"}], \"youtube\": { \"ytControls\": 0, \"cc_load_policy\": 3, \"modestbranding\": 1, \"hl\": \"en_GB\", \"playsinline\": 1 } }'\n\t\t\t\tcrossorigin=\"\"><\/video><\/div><\/div>\n\n\n\n \n<div class=\"single-cta gated-content\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">How to boss your small business banking<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p><!-- wp:paragraph --><\/p>\n<p class=\"\">From choosing a business bank account to managing bank reconciliation and using bank feeds, this guide will help you to stay on top of your finances.<\/p>\n<p><!-- \/wp:paragraph --><\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-0a38bfe5-48d7-44eb-b934-14aa781da0ca\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Download your free guide<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1308847618-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1308847618-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n\n\n<div class=\"single-cta\">\n\t<div class=\"single-cta__positioner\">\n\t\t<div class=\"single-cta__wrapper has-dark-background-color\">\n\t\t\t<div class=\"single-cta__content\">\n\t\t\t\t\t\t\t\t<h2 class=\"single-cta__title h3\">Subscribe to the Sage Advice newsletter<\/h2>\n\n\t\t\t\t\t\t\t\t\t<div class=\"single-cta__description\">\n\t\t\t\t\t\t<p>Join more than 500,000 UK readers and get the best business admin strategies and tactics, as well as actionable advice to help your company thrive, in your inbox every month.<\/p>\n\t\t\t\t\t<\/div>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a\n\t\t\t\t\t\thref=\"#gate-b1a63862-3fa0-4a5e-bb67-c76b88bbc6b8\"\n\t\t\t\t\t\tclass=\"single-cta__button button button--primary\"\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t>Subscribe now<\/a>\n\t\t\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<\/div>\n\n\t\t\t\t\t<img decoding=\"async\" width=\"1440\" height=\"810\" src=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg\" class=\"single-cta__image\" alt=\"\" loading=\"lazy\" srcset=\"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/04\/GettyImages-1073797282-1-1440x810.jpg 1440w\" sizes=\"auto, (min-width: 48em) 33vw, 100vw\" \/>\t\t\t<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>What does an entrepreneurial accountant earn (and spend!) in a week? Crack open the Money Diaries and find out.<\/p>\n","protected":false},"author":1332,"featured_media":10752,"menu_order":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_sage_video":true,"post_featured_image_hide":false,"footnotes":""},"categories":[6],"tags":[223,135,24,243],"business_type":[4,115],"lilypad":[],"context":[],"industry":[],"persona":[67,73,74,75],"imagine_tag":[220,109],"coauthors":[577],"class_list":["post-10637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-matters","tag-accountant-accounting","tag-business-finances","tag-cash-flow","tag-money-diaries","business_type-small-business","business_type-accountants"],"sage_meta":{"region":"en-gb","author_name":"Secret Entrepreneurs","featured_image":"https:\/\/www.sage.com\/en-gb\/blog\/wp-content\/uploads\/sites\/10\/2022\/01\/Sage_Money-Diaries_Blog-Header-Generic1.jpg","imagine_tags":{"220":"Accountant accounting","109":"Small business"}},"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Sage Advice UK","distributor_original_site_url":"https:\/\/www.sage.com\/en-gb\/blog","push-errors":false,"_links":{"self":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/10637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/users\/1332"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/comments?post=10637"}],"version-history":[{"count":0,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/posts\/10637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media\/10752"}],"wp:attachment":[{"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/media?parent=10637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/categories?post=10637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/tags?post=10637"},{"taxonomy":"business_type","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/business_type?post=10637"},{"taxonomy":"lilypad","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/lilypad?post=10637"},{"taxonomy":"context","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/context?post=10637"},{"taxonomy":"industry","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/industry?post=10637"},{"taxonomy":"persona","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/persona?post=10637"},{"taxonomy":"imagine_tag","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/imagine_tag?post=10637"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.sage.com\/en-gb\/blog\/api\/wp\/v2\/coauthors?post=10637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}