The Book-keepers Forum (BKF)

Post Info TOPIC: Taking on my first client


Member

Status: Offline
Posts: 12
Date:
Taking on my first client
Permalink Closed


Hi everyone,

An opportunity has arisen where a friend of a friend is looking for someone to do their books.  They have put my name forward but I am not sure if I will be out of my depth or not.  He is a sole trader and I think, up until now, a friend has been doing them for him who is not a bookkeeper.  I was thinking that I could speak to him and explain that I do not yet have any experience and, if he's willing to give me a try, I would do it for free to start with.  I obviously have no idea what is actually involved other that what I have learnt in my coursework and I have only done the ICB level 1 manual, which I passed with a distinction, and nearly completed level 2 computerised.  I do have a couple of friends, one of whom is a qualified accountant, that I could ask for help. 

I would appreciate any advice you guys could give.

Lisa x


__________________


Senior Member

Status: Offline
Posts: 357
Date:
Permalink Closed

Hi Lisa

I would say it would depend whether this sole trader uses an accountant for end of year accounts and self assessment Tax Return so they can correct any mistakes before it is submitted to the tax office, if does then would say it would be ok to start with for free and gain the experience, but would say if no accountant then there is noone to pick up on any mistakes that you may have made and if there is errors with the tax return then any penalties incurred the client may try and pass on to you.

Alison

__________________


Veteran Member

Status: Offline
Posts: 58
Date:
Permalink Closed

Aplogies if this comes through twice - everything seems to be delayed on this site today.

Hi Lisa

I would say a (qualified) 'Go for it'. And bearing in mind other comments on this site from people who seem to have strong opinions on who can become a bookkeeper!

Qualified, because you will still have to register for MLR whether you are charging or not. And this is going to cost you around £100 to start off with.

And if you are thinking of going down the computerised route, you will have to buy a programme if you don't already have one.

I would say charge him half what you are thinking of charging when you are qualified, and explain to him the reason for this. You will be learning on the job, and also probably taking longer to do it than you would if you were experienced. But with the proviso that this is a 'special rate' for the start up - don't cut off the ability to put the rate up in the future.

If he goes for this, and pays you, then you also have to sign up with HMRC, and also you might want to think about insurance.

Whilst a friendly accountant is invaluable, this is a track of last resort - really it's not fair to ask too many professional questions, even if they are willing. It would soon test the limit of the friendship.

I would say make friends with the client's accountant though. It is in their interests to make sure the accounts are done properly - and stress that you want to do as much as possible to make their job as easy as possible at the end of the year. You never know, this might bring in extra work as well.

And keep up with the studying.

And bottom line is - I would imagine that a lot of us out here started in quite similar circumstances! And you can always ask on this site for any answers........

Good luck.
Babs


__________________


Member

Status: Offline
Posts: 12
Date:
Permalink Closed

Thanks Alison and Babs for your advice, I will definately take this on board.  You mentioned registering for MLR, how do I go about doing this? 

Lisa

__________________
Zoe


Senior Member

Status: Offline
Posts: 218
Date:
Permalink Closed

Hi Lisa

You can find more information on registering for MLR on the HMRC website here:

Money Laundering Regulations

Alternatively, if you are a member of the ICB, they can act as a supervisory authority and you can register through them.

Hope this helps.

Zöe

__________________

Seahorse (UK) Limited - Support for Bookkeepers and Accountants
www.seahorseuk.co.uk
01268 417631
Starting a Bookkeeping Business

Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About