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rsd886647


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Potential first clients
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Hi,

 

I'm studying presently and expect to get qualified to AICB level within a few months hopefully. A couple of self-employed friends ( a gardener and an electrician) have stated that they will let me do their books for them. They currently have accountants doing this work. So I'm wondering when would be the best time of the year to take over the books, and what else do I need to consider? What questions do I need to ask them in the first instance? What preparation should the clients be doing ideally?

I know I'm getting ahead of myself, but when I discuss the subject with my friends, I want to know what I'm talking about.

Thanks in advance.

Rob

 



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MarkS


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Rob

The best time to take over is at the start of a new year but no major issue taking over during the year provided you get a clean handover.

Issues to consider are

1. Will you charge by the hour or fixed rate?

2. Where will you do the work?  At the clients or at your premises?

3. How are you going to process the accounts information?  Will you use spreadsheets or accounts package such as SAGE, VT, Quickbooks, Xero, Kashflow, etc.  If using an accounts package who will pay for this?  You or the client?

4. How frequently will you do the bookkeeping?  Monthly or quarterly?  Does the client want management accounts?

5. How soon after the period end will you pick the records up?

6. How quickly will you be expected to turn the records around?

7. How will the client give you the records?  Will they all be sorted out and referenced or will they just be stuffed in a poly bag?

Thats just off the top of my head.  Sure there would be other things.

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
rsd886647


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Thanks Mark.

My friends have told me what they are currently paying and I have offered my services for a little less, so it's a fixed rate.

They both keep everything sorted and referenced, so that should work out well.

I expect to do the bookkeeping on a monthly basis, but this needs to be confirmed.

One thing I'm wondering about is what are the accountants currently doing, in terms of the accounts that they are producing? And once I am AICB qualified with self-assessment module, am I going to be able to provide a similar service?

Rob

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MarkS


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Hi Rob

You will need to check with AICB as to what their rules and regulations allows you to do.

But i think you can do accounts and tax returns for sole traders and accounts to draft stage for Ltd co's.

Regards

Mark



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Mark Stewart CA

http://stewartaccounting.co.uk/

Providing accounting, bookkeeping, payroll and tax services to small and medium sized businesses across Central Scotland and beyond.
kjmcculloch83


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Mark is right. At AICB you are able to do final accounts for sole traders, and with the Self Assessment Diploma you can do the tax return.

Kris

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BKN Most Innovative Accountancy Firm 2012

Director and Co-Founder of The Bookkeepers Alliance

 
rsd886647


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Thanks Mark and Kris. Now I've just got to knuckle down and complete the course!

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