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Post Info TOPIC: HELP! Ahh! I have been 'tinkering' with bookkeeping for quite a while now whilst doing my day job...


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HELP! Ahh! I have been 'tinkering' with bookkeeping for quite a while now whilst doing my day job...


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.



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Andrew Neil


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Hi
Im not going to talk about charging just yet.

Tinkering!

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

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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



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Sorry...welcome to the forum. Not meaning to sound harsh (a bit brassed off at the mo, but certain things need to be said!)



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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



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Hi Andrew,

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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Master Book-keeper

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Rachel19 wrote:



Joanne speaks a lot of sense regarding the legalities.


Going to frame that!winkbiggrin

I might clip out the bit from 'regarding.......'smile

Thanks Rachel



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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



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Cheshire wrote:

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 biggrin

Hi Andrew welcome to the forum



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Doug

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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?



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Andrew Neil


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ajneil wrote:

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



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Artois wrote:
Cheshire wrote:

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 biggrin

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



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Cheshire wrote:
Artois wrote:
Cheshire wrote:

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 biggrin

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!biggrinbiggrinbiggrinbiggrinbiggrinbiggrin



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Doug

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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.



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Andrew Neil


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ajneil wrote:

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

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ajneil wrote:

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

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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



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Leger wrote:
ajneil wrote:

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



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Why the change of career? Why to this maddening world? Children are easier to deal with than clients.


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Caron



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Casu wrote:

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.

biggrin



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Shaun

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I have a long term plan and bookkeeping is part of this! Hence why I am not in a rush to do anything hasty.


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Andrew Neil
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