HELP! Ahh! I have been 'tinkering' with bookkeeping for quite a while now, whilst doing my day job as a Deputy Head in a prep school. It's actually getting a bit more serious than this because I'm hoping to sit AAT's advanced diploma fairly soon. But, I haven't been actively looking for clients as that has always been more of a distant goal as I become more confident and competent. However, I have been approached by a window cleaning company who wants me to do their books. I don't want to turn down this opportunity but am having a crisis of confidence! Basically, they want their books done monthly. Up to now I've been doing accounts on paper and don't even have any software. I'm not even sure what I should be charging! Does anyone have any suggestions? I need to act quick or turn them down, don't want to look stupid...! Many thanks in advance for any advice.
So where exactly are you up to with taking the AAT exams?
What does AAT say about you dealing with fee paying clients with no experience? (Ethics...)
More importantly - if you are taking on clients, do you have MLR cover in place? Or PII?
MLR - illegal to act without it and could see you fined +/or imprisoned. PII - you would be barking not have any - because all it takes is someone to make a claim for negligence (highly likely) and you will lose your house, car, wife and children (OK, they probably wont take the latter unless rthey are very cute!)
So - get the MLR in place first, confirm you have it and who with and then we can help further.
Window cleaning company - HIGH risk client if they are dealing in cash.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Joanne speaks a lot of sense regarding the legalities. Sounds like a bit of a faff but could save your bacon down the line!
And I agree with what she says about window cleaners. Make sure you have a look at how they record everything before you even think about quoting a price.
Good luck!
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All thoughts are my own and should not be used as professional advice.
PII - you would be barking not have any - because all it takes is someone to make a claim for negligence (highly likely) and you will lose your children
I am cancelling my PII as we speak
Hi Andrew welcome to the forum
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
Thanks for your advice - really helpful. In a way, I was hoping to use this as an opportunity to get some real experience. Payment is secondary. I hear what you're saying about the MLR cover though, don't want to be on the wrong side of that! Perhaps I just do their books for free or is it better to stay well clear of this type of client?
Thanks for your advice - really helpful. In a way, I was hoping to use this as an opportunity to get some real experience. Payment is secondary. I hear what you're saying about the MLR cover though, don't want to be on the wrong side of that! Perhaps I just do their books for free or is it better to stay well clear of this type of client?
Devils advocaat (deliberate spelling, needing booze and its not even lunchtime! ..... So if you do their books for free, who is going to supervise you? Ie how will you know if you have fuched it up....or indeed got it right?
What kind of window cleaners?
You will still need PII
Ethics is still at play. Have you covered ethics yet? Boring! But essential.
You didnt say where in your exams you are up to? It does help us pitch answers.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
PII - you would be barking not have any - because all it takes is someone to make a claim for negligence (highly likely) and you will lose your children
I am cancelling my PII as we speak
Hi Andrew welcome to the forum
Yep but bear in mind you get to keep the wife! It only gets rid of hubbies and children.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
PII - you would be barking not have any - because all it takes is someone to make a claim for negligence (highly likely) and you will lose your children
I am cancelling my PII as we speak
Hi Andrew welcome to the forum
Yep but bear in mind you get to keep the wife! It only gets rid of hubbies and children.
Oh no I wont, we split up over a year ago!
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Doug
These are only my opinions of how I see things and therefore should not be taken as advice
No, haven't covered ethics yet (I'm sure you've worked that out). At this point, I am still working my way through the subject and when I feel that I have gained enough knowledge and understanding I will attempt the exams. PII, as you say, is an absolute must and I understand what you say about the MLR. I can also see how my original post may have pi**ed some of you off given the current situation and so regret sending it in the first place. But you've got to start somewhere so, I suppose, my question really should have been where to start. But please do worry about answering as I realise that even this question is too vague. Best wishes in these difficult times.
No, haven't covered ethics yet (I'm sure you've worked that out). At this point, I am still working my way through the subject and when I feel that I have gained enough knowledge and understanding I will attempt the exams. PII, as you say, is an absolute must and I understand what you say about the MLR. I can also see how my original post may have pi**ed some of you off given the current situation and so regret sending it in the first place. But you've got to start somewhere so, I suppose, my question really should have been where to start. But please do worry about answering as I realise that even this question is too vague. Best wishes in these difficult times.
Never regret!!! Asking the question enabled you to consider MLA and PII which you may not have. I would complete the AAT course (bookkeeping or accounts?) which will then give you a good foundation to start dipping your toe in the water.
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John
Any advice given is for general guidance and professional advice should be sought applicable to your circumstances.
No, haven't covered ethics yet (I'm sure you've worked that out). At this point, I am still working my way through the subject and when I feel that I have gained enough knowledge and understanding I will attempt the exams. PII, as you say, is an absolute must and I understand what you say about the MLR. I can also see how my original post may have pi**ed some of you off given the current situation and so regret sending it in the first place. But you've got to start somewhere so, I suppose, my question really should have been where to start. But please do worry about answering as I realise that even this question is too vague. Best wishes in these difficult times.
Oh no, Im not pi**ed off with you!!
Just pi88ed off with lots of p88s takers
-- Edited by Cheshire on Wednesday 27th of May 2020 05:36:12 PM
__________________
Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
No, haven't covered ethics yet (I'm sure you've worked that out). At this point, I am still working my way through the subject and when I feel that I have gained enough knowledge and understanding I will attempt the exams. PII, as you say, is an absolute must and I understand what you say about the MLR. I can also see how my original post may have pi**ed some of you off given the current situation and so regret sending it in the first place. But you've got to start somewhere so, I suppose, my question really should have been where to start. But please do worry about answering as I realise that even this question is too vague. Best wishes in these difficult times.
Never regret!!! Asking the question enabled you to consider MLA and PII which you may not have. I would complete the AAT course (bookkeeping or accounts?) which will then give you a good foundation to start dipping your toe in the water.
Quite!
Advanced =Level 3 = AATQB (bookkeeping.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
Why the change of career? Why to this maddening world? Children are easier to deal with than clients.
Yep one bunch should not be allowed anything sharper than a crayon, prone to tantrums, act before thinking, fib when confronted, do not play well with others and we have to clean up after them.
The other bunch are children.
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Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
