Bookkeeping rates

CMS

I am thinking of starting my own self employed business doing bookkeeping for local companies up to trial balance. Can I ask what people think a sensible rate for my services would be?

Thanks
CMS

RyanW

I reccomend that you base your fee's on the 'quantity' (size of the business). Obviously the less you have to do, the less time you spend, the less you charge. I.e have a fixed rate averaged £20.00 p/h + additional fees that outscope bookeeping, i.e Anaylsis documentation (aged debtors. vat returns. ect).

CMS

Thanks for the information. I was thinking about £12.50 an hour as a rate but maybe I am selling myself short. I guess something is worth what people are willing to pay for it.

Thanks for the info.

CMS

cobbles

£12.50 is low for bookkeeping you have to remember it is difficult to increase your rates once your have a regular clients - also do have a set of terms & conditions signed you could incorporate a yearly price increase if you what to start at a lower rate just to get started I would suggest going no lower that £18 ph

Psyche

I also charge £20 per hour. But I am -really fast-.

Name: Sean

Sorry - hope I'm not hijacking the thread - just wondering what type of clients people recommend doing bookkeeping for too?

T.C.

I don't do as much book-keeping as I used to, but what I do I still charge at a reasonable rate, no lower than £20 per hour, more if they are "difficult" clients.
As for who to work for, you have to decide that one yourself. Try it and see. If the work is too disorganised or they are bad payers, give it up. I have just a few book-keeping clients now and all are reasonably "trained" into keeping the paperwork in some order and all pay on time.
Good luck

noodles

I was a book keeper from home charging £23 per hr until I went into practise. I was very busy and made a good living from it working mainly with sole traders but also did some small ltd companies. I offered a payroll service, vat returns, tax returns and set of accounts. It was great fun but my job in practise is even better and have learnt so much more

A-Vic

Can anyone let me know of any good bookkeeping qualifactions - i do one at work but at times feel am fumberling around with it and would like to learn it properly

dantray

I have a question:

Do the AAT enforce any restrictions to MAAT's when setting up a book-keeping/payroll business?

I know that this isn't practice so registering for MIP doesn't apply, but in terms of mentioning AAT on company website or leaflets is this allowed. i.e. putting on back of business card "Member of Association of Accounting Technicians" in small print?

I know one of the golden rules for MAAT's setting up in practice is that you can't advertise AAT on your stuff but as this isn't practice does it still apply?

Thanks in advance
Dan.

Monsoon

A-Vic- if you have AAT why would you want another bk qual? AAT is far more than just a bk qual but I wouldn't think IAB/ICB would teach you anything you don't know already.

What areas do you feel you're fumbling on?

dantray wrote: »

I have a question:

Do the AAT enforce any restrictions to MAAT's when setting up a book-keeping/payroll business?

I know that this isn't practice so registering for MIP doesn't apply, but in terms of mentioning AAT on company website or leaflets is this allowed. i.e. putting on back of business card "Member of Association of Accounting Technicians" in small print?

I know one of the golden rules for MAAT's setting up in practice is that you can't advertise AAT on your stuff but as this isn't practice does it still apply?

Thanks in advance
Dan.

If you're setting up a bk business and you are a MAAT you HAVE to register as a MIP. The MIP team will tell you what you can and can't do. When you're a MIP you can put AAT on your literature, they just have set rules on how to do it.

dantray

oh well that scuppers that plan - the only reason i was thinking of setting up as bookkeeper was because that's all that's permitted by ACCA whom i'll be studying with from next month.

so basically there's no way to be MAAT, studying ACCA, whilst working part time self employed as book keeper?

I thought it seemed too good to be true when i thought it up!

thanks
dan

Monsoon

dantray wrote: »

oh well that scuppers that plan - the only reason i was thinking of setting up as bookkeeper was because that's all that's permitted by ACCA whom i'll be studying with from next month.

so basically there's no way to be MAAT, studying ACCA, whilst working part time self employed as book keeper?

I thought it seemed too good to be true when i thought it up!

thanks
dan

Why can't you register as a MIP and only do bookkeeping (thus keeping ACCA happy)?

dantray

I can't believe that didn't occur to me - monsoon you're a genius. i'll get straight on that tonight!

watch this space!

thanks
dan

Monsoon

dantray wrote: »

I can't believe that didn't occur to me - monsoon you're a genius. i'll get straight on that tonight!

watch this space!

thanks
dan

Jolly good! Do double check with AAT and ACCA though to make sure it falls in both their rules but I can't see a problem as long as you're only bookkeeping.

Good luck! :-)

dantray

Hi everyone,

I'm sorry to keep banging on about the same subject but i do have another question:

I've been looking through the AAT MIP directory and found that there are a large number of members who are registered as an AAT MIP with "MAAT ACCA" after the name.

I was under the impression that ACCA members aren't allowed to practice under another regulatory body like AAT, and they'd need to resign from ACCA membership to practice under AAT? or does that only apply to student members?

Is there some loophole that i'm unaware of, whereby ACCA members can set up in AAT practice, or are these people going against the rules?

again, thanks in advance - i really appreciate it!

Dan.

AK002

I'd imagine those will be fully qualified ACCA members who have gained their nessceary practising certificate with ACCA also?

Student ACCA'ers can only do bookeeping whilst studying.

dantray

So if these people have gained practice certificate with ACCA, why are they also practicing with AAT - I thought it was one or the other?

thanks
dan.

Bluewednesday

They probably aren't practicing under AAT licences they just have the AAT qualification

Rachel

I have both at the moment, I feel that the AAT offer more support ie the help line, and materials etc. I don't advertise the fact that I am either though.

A-Vic

Monsoon wrote: »

A-Vic- if you have AAT why would you want another bk qual? AAT is far more than just a bk qual but I wouldn't think IAB/ICB would teach you anything you don't know already.

What areas do you feel you're fumbling on?

I do the books for a partnership but it feelsl like a times i havnt a clue, dont know maybe its a confedence thing plus my manager is only in a couple of hours a day so am shown bits and feels like i make up the rest. theres been no major problems so far tho

Monsoon

A-Vic wrote: »

I do the books for a partnership but it feelsl like a times i havnt a clue, dont know maybe its a confedence thing plus my manager is only in a couple of hours a day so am shown bits and feels like i make up the rest. theres been no major problems so far tho

It sounds like it's experience and practice you need, not more qualifications. Qualifications don't teach what it's like in the real world (as our IAB qualified, PQ-AAT bookkeeper will tell you!). You already know all the theory.

You know if there's anything you're unsure of you can always ask on here.