Potential First Client - The Book-keepers Forum (UK)

chrisp · Veteran Member

Potential First Client

Shamus · Forum Moderator & Expert

Hi Christine,

congratulations on the first client. I really wouldn't tell them that that they are your first though.

If the client has nothing to hide then they will give their ID quite readily. They give it at blockbuster if they want to hire a film so giving it to their bookkeeper shouldn't even raise an eyebrow.

Let the client know in advance the documents that you need to see then when visiting the clients premises to do the due diligence just keep it casual and matter of fact.

One worrying point that I'm adverse to venture in you're current excitement is that I'm not sure whether AICB covers you for limited companies? I thought that you had to be MICB to deal with the more complex legal structures.

You might want to cover this in a quick phonecall to the ICB as any issues over work performed may render your current insurance void.

I really hope that the above is not the case. It's difficult to find any information related to what an AICB is allowed to do on the the institutes site. Its just something that I've picked up from messages on here but unfortunately I can't remember which one!

All the best,

Shaun.

Shamus · Forum Moderator & Expert

Found it,

the thread is "ICB - what can I and can't I do if I join?" posted by Peasie on the 3rd of Jan, response by Alison.

chrisp · Veteran Member

Hi Shaun, (I love your cat pic!)

A while back I did email the ICB (and just double checked again with a quick phone call) that as an Associate Member I can only do the day to day bookkkeeping entries for a small ltd company but not final/year end accounts or deal with the directors loan account.
I will of course be checking what services the client is expecting from me. He says he has approached his accountant to do his books but this turned out to be expensive. Hopefully, information up to trial balance is all that will be required.

Thanks

Christine

Shamus · Forum Moderator & Expert

Thank goodness, I was really worried that I was going to burst your bubble.

I found the pic on the internet some time back. The title of it was "What bird?". I just thought it suitable for this site as I'm coming to bookkeeping/accountancy from banking so thought a fat cat might be quite applicable!

The approach that I would probably take with your client is to drop into the conversation "So who is the accountant that I'm going to be working with for the year end?".

Go into the meeting with a checklist that includes :

When is the company year end?
How many bank accounts does the company have?
What does the company own?
What evidence does the client have of ownership (by the company) of these items?
What are the companies sources of income (You need that one for your money laundering records)?
Are all transactions conducted at arms length or are there also related party transactions?
Who is the companies accountant?
What is the name and contact details of the outgoing bookkeeper?

On the last item it's common courtesy to contact the existing bookkeeper to ensure not only that there are no outstanding fee's owed to them but also whether they actually know that they have been removed as bookkeeper! It would also be a good idea to introduce yourself to the companies accountant.

On the question of related party transactions, such doesn't make a lot of difference to actual bookkeeping but it's something that the accountant will need to know at year end so you'll win a couple of million brownie points for having information like that.

Most bookkeepers and accountants are quite amicable and professional with each other (as evidenced by this site) so from the outgoing bookkeeper you should get the inside track not only on how promptly (or not) the client pays their invoices but also on what's really happening within the company.

Good luck again. Keep us all posted as to how it goes.

chrisp · Veteran Member

Thank you for your extremely helpful reply. It is much appreciated with lots of useful tips.

Christine

littlebookkeeper · Senior Member

Hi Christine,

It is quite daunting, I hardly slept the night before meeting my first potential client but it is starting to get easier. With practice brings confidence as they say.

Good luck

Carole

lor · Guru

Yes I agree, I find it funny and can't believe how I felt before meeting my first client, I felt soo nervous, sweaty palms, slight stutter, but now those first time nerves are gone, you learn how to deal with the situation and come out good on the other side and realise it's not that bad after all. I think some of my nerves were not quite knowing what I had to say or do!, but after a few secs after meeting it just flows naturally and you will get into the swing of things.

I feel a lot more confident now, than when I first started!

-- Edited by lor on Wednesday 6th of January 2010 07:23:10 PM

chrisp · Veteran Member

Thanks for relaying your experiences. Glad I am not the only one with first time nerves!

Lor - I love your cute cat pic (I am a cat lover).

lor · Guru

Chrisp, I have 2 cats Bert and Ernie, I call them Bernie (bit like Jedward!)

They are funny little things!

The ginger one isn't mine though even though its soo cute!

-- Edited by lor on Thursday 7th of January 2010 12:30:10 PM

gerry · Senior Member

Hi christine

Boy oh boy, yes it is daunting and I have posted threads to this affect on this site. See "Is being totally daunted normal" on 21st July.

I am 5 months in now and have a few clients under my belt, the first is always very scary as you don't know what to expect, it does get easier i promise. I did actually tell my first client that he was my first as a self employed bookeeper but not my first as far as experience counted, I think I thought that if he knew this then he would not expect too much, I was honest and it worked but I can see that it could go against you too, this is entirely up to you whether you tell them or not.

I first went in thinking I was the empoyee and they were the boss, it took me a while to realise that actually I could say no to them as much as they could say no to me and they needed me just as much as I needed them, this has certainly helped with the confidence.

Also, I had to turn one client down and felt really bad about this but another better one came along a week later. So even if this one does not work out then don't despair, something better could be around the corner.

Good Luck, and remember the old l'oreal saying "you're worth it"

gerry

lor · Guru

i told my first client he was my first, but also that i have several years full time experience in bookkeeping also for a ltd co, 1st client was ltd so was helpful, it is up 2 u if u mention this or not!

chrisp · Veteran Member

The weather has delayed the initial consultation meeting but I hope this will now take place this week.
I will keep you posted!

lor - Bert & Ernie - fab names!!

Christine

chrisp · Veteran Member

Update :

Had a meeting last week. Very nice man. He asked me how many other clients I had and I was honest and said he would be my first. He thanked me for being honest and said he was not worried. He said 'we all have to start somewhere'.
He supplied the ID required and encouraged me to ask any questions either via him or direct with his accountant.

The nerves have settled a little.
Now I just want to do a good job and make a good impression. Word of mouth seems to be the best way to get more clients.

Christine

gerry · Senior Member

well Done Christine on getting your first client.

It does get easier after this, congratulations.

Gerry

stephen72 · Senior Member

Hi Christine,
Well done on getting your first client .i recently got my first client and i did feel a bit nervous as it was a complete mess but i wanted to do a good job and spent a lot of time sorting things out .I am sure it will work out fine for you as once you start doing the work it builds up your confidence .
i am sure it will all be fine ,good luck
stephen

chrisp · Veteran Member

Thanks for your encouragement!

Christine

lor · Guru

chrisp wrote:

lor - Bert & Ernie - fab names!!

Christine

Thanks lol, and well done on your meeting going well!, and gerry is right, it does get easier!

Anna E · Member

Hi everyone,

how long would you say it takes to get to your first client and how much advertising/networking you all did before you got to that point?

I am currently at the very first stage of having finished my Bookcert materials.

Thanks!

Anna

-- Edited by Anna E on Friday 5th of February 2010 08:36:40 PM

lor · Guru

I love all the cat pics!

Anna E, my main source of advertising as been google, and people finding my website through key words. I have also recently purchased a very good book on website and google, adwords and SEO (search engine optimisation) etc as even though my website is currently ranking quite well in google, and on free index etc, I would like to understand how it all works more, the magazine is called (even though its more like a book with all the handy info in it) How to set up an online business. I know that bookkeeping isn't an online shop type of business, but this mag goes in to the in's and out's of websites etc which i find VERY useful and you may too.

Copy and paste the link below into your internet browser:

http://www.magazine-group.co.uk/magazine/books-and-directories/miscellaneous-books/how-to-set-up-an-online-business

-- Edited by lor on Saturday 6th of February 2010 01:34:28 PM

-- Edited by lor on Saturday 6th of February 2010 01:35:00 PM