meeting clients - initial meeting - The Book-keepers Forum (UK)

lor · Guru

meeting clients - initial meeting

Julie · Senior Member

Hi Lor,

You would need to see as much of their paperwork as possible, sales invoices, receipts, bank statements etc., so you can get an idea of volumn of work involved.

Also about their previous arrangements if they have used a bookkeeper or have they done it themselves - again this will give you an idea of what will be involved to perhaps get books up to scratch !

Make a list of details such as; company name, registration no, vat reg no. directors names and addresses, their accounting period, any deadlines that are in the pipeline such as vat return due. What is their company status, nature of business, business address, contact details, accountants if they use one, bankers. Not forgetting some form of ID for ML regs.

Then find out what kind of service they need, weekly, fortnightly, monthly, quarterly, and what exactly they want from you ie maintenance of general ledger, sales invoicing, credit control, monthly management reports etc., It pays to know exactly what they require and draw up a `letter of engagement`, this way you both know what is expected from each other and no `extras` can be put upon you without first agreeing.

Hope this helps for now.

Good luck,

Julie

Marky65 · Guru

Hi Lor

Along with the great advice from Julie I would add that you must remember to listen to your potential client, not just in terms of what they want done with their bookkeeping but everything else to do with them personally and their business. Don't get too carried away with talking about yourself and what you can do for them, they would already have a good idea of this otherwise you woldn't be having the meeting in the first place.

Good luck

Regard
Mark

lor · Guru

Thank you both for your replies.

You have given me more direction now.

lor · Guru

I guess if the meeting goes well you try to take as much accounting records and paperwork as you can to get you started?

Alison · Senior Member

In my experience not many meetings have led to taking the records and paperwork straight away.

Most cases I have found that the person wants to think things over after meeting before making a decision, or if it a partnership they want to discuss it with their partner and would say now with the amount of bookkeepers around now most times they have between 2 and 6 more meetings with other bookkeepers lined up before they make a decision.

Alison

gerry · Senior Member

I am also new to this. Can I ask, is it normal to take records away with you and set up the accounts at home or are they generally done on the businesses premises.

If you do the accounts at home, do you ge to choose which package to use or is that the clients decision. Also, how much of their accounts do they need overview of.

Greatful for advice.

Marky65 · Guru

Hi Lor

I agree with Alison, it is very unlikely that you will be expected to start anything straight away, if you are then that is great but don't expect it.
On Friday I had a meeting with a potential client but as they have a partner they need to discuss our meeting wit them so I am now expecting to hear back soon but I did mention to him that I would call within a few days, probably later today or tomorrow.

Regards
Mark

Marky65 · Guru

gerry wrote:

I am also new to this. Can I ask, is it normal to take records away with you and set up the accounts at home or are they generally done on the businesses premises.

If you do the accounts at home, do you ge to choose which package to use or is that the clients decision. Also, how much of their accounts do they need overview of.

Greatful for advice.

Hi Gerry
With regards to the records it entirely depends on how the client wants you to work. If they want you to work at their premises, possibly on their equipment and software, then you will keep all the records there. But if you and the client agree then you can work from home, taking all of the records with you, and work on a package that you choose unless the client has software and wants to be able to see the accounts at their premises. If they have no package then you choose which one to use.
I think most clients should have a regular p&l and cashflow forecast, but each client is different and some choose not to bother, it is a matter of educating clients on the importance and benefits of receiving regular reporting.

Also, I have just remembered, when you have the clients records at your home it may be useful to keep hold of them until the client has paid your invoice, it may help with your credit control.

Regards
Mark

gerry · Senior Member

Thank you Mark, that makes perfect sense and as often the case, its often the practical side of things that leave you in quandry, doing the accounts is probably the easier part.

I am just starting out and am looking into all aspects. I.e what bookeeping courses, if any to do.

The forum has recommended 'Business accounts' by David Cox and Bookcert and both of these look great and I will be ordering this week. I hope the Bookcert will point me in the right direction of where to start from a set up business point of view.

Every time I see a post on the forum, it prompts a further question from me so obviously I have much to learn.

This is a general reply and I hope is read by many as I just want to say how very very helpful everyone on the forum has been, I only joined at the weekend but have received more practical advice than anywhere else on the internet.

Thank you very much, all of you.

Oh, by the way, i'm sure there will be more questions from me later!

Gerry

-- Edited by gerry on Wednesday 1st of July 2009 02:55:23 PM

Marky65 · Guru

Hi Gerry

You are right, doing the accounts is so much easier than anything else with running your own business.

It is great to hear that you are finding the forum useful and are getting plenty of use out of it. Keep the questions coming we just love answering them and then the more you learn the more you will be able to answer instead of just asking.

Good luck with your business

Regards

Mark

Terri · Senior Member

Hi Gerry

Just wanted to say that I agree with you about this being a great place to come for help and information. I have found it really useful too. You got some great advice from everyone,

Terri

lor · Guru

I agree, if you couldn't ask on here I don't know where I would ask. Very helpful forum.

I'm also glad people have answered my questions which sometimes I feel are silly questions, but if you don't ask you will never find an answer. thank you for all your answers.

-- Edited by lor on Wednesday 1st of July 2009 06:17:21 PM

farmergiles · Veteran Member

Don't forget when you meet that first client, check that they are who they say they are.MLR people! Check out their passport and driving licence plus a couple of utility bills. Record their passport number and driving licence number. This confirms that you have carried out due diligence under MLR regulations.

If these checks are not made and it turns out that the person is not who they say they are, YOU are in big doodoo and it is YOU that gets fined and loses your MLR licencing!!!!!

steve12 · Veteran Member

I agree, HMRC are now targeting bookkeepers re. money laundering regulations and this includes having to monitor all clients and be vigilant about the accuracy of information and figures that clients are supplying us with. If we are not fully conversant with these regulations we could find ourselves in quite serious trouble. Knowing and complying with the MLR regulations is a major issue now facing all self employed bookkeepers.

Steve.