Just thought I'd share this with you. I have a new client as of today. He's a DJ, provides a disco for parties etc.
He started at the begining of the calander year, has about 30 sales invoices, a turnover of about £3k and a handful of purchase invoices mainly for fixed assets.
He has them all in monthly order, in a folder. Has an income and expenditure done on excel.
He just wants his accounts brought up to date as he has a tax return due. So spliting the jan-april and april-now, just a wee tidy up.
He was quoted by a well known accounting francise £100, not including his tax return.
I find this crazy money for whats really 1/2hr - 1hrs work.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
That does seem like a lot to be charging for a very easy job, are they quoting a fixed fee and if so is this part of the problem of fixed fees vs hourly rate.
Just out of interest it would be good to know the name of the franchise and I wonder if it the same one as which a member on this forum belongs to.
TBH Mark, that's the very reason I didn't mention it.
I don't find it a fixed rate v's hourly issue, because I don't charge hourly any more, only fixed. And I can tell you I didn't charge the guy half of that.
The guys happy, I'm happy and getting a lot more than £10 or £12 per hour.
The views expressed in this post are my own personal (HRA protected) views, and are not representative of any organisation I have any involvement with.
I thought it might have been :) Now it will be interesting to get a comment from that member and see what the justification is.
That is good that you feel that fixed fees are working for you. It is something that I am in two minds over at the moment, I can see pros and cons for both.
Im still toying the the fixed fee v hourly rate. Since my last post on the subject following a meeting I had with a `franchised` accounts firm, I have heard nothing from them.
But I have since found out that they spoke with a number of bookkeepers in my area and have basically used these `meetings` to gain information on what us bookkeepers actually do. I can only assume that they were conducting a fact finding excerise ! Thinking back, they seemed keen to know how I had gained the clients I had and wanted me to disclose company names, turnovers and hours billed - I just cited the client confidentiality policy which did seem to displease them.
If I ever hear from them, Ill let you know the outcome.
Hi Kris Well done for getting a client .Although i have no clients at present i have always said that i would charge a fixed fee as it seems fairer to the client but as someone has pointed out just adjust the price for extras such as vat returns and payroll. I cannot believe what the franchised bookkeepers are charging i do not know how they can justify this but obviously some people are happy to pay this sort of money.
Hopefully now you have a client you will get more Good luck stephen
