What to Charge

missieamy

Hi All
How did you all decide where to pitch yourself on charges. I haven't done any MIP for a while (been on Mat leave) but just starting up again.
I had a meeting recently with an accountant, I usually say I am a bookkeeper but he said I was underselling myself and that I should be advertising/telling people I am a Management Accountant.
Does this mean I can charge more?
I am based in Hudderfield, West Yorkshire if that makes a difference. I've got a meeting next week with a potential new client to do Management Accounts and Cashflows.
Your advise on rates would be appreciated?

Monsoon

I'm not going to repeat myself, so have a read of my blog here

New accountant in practice – how do I know what to charge?

and

Are you charging what you’re worth?

Recent MIP survey, average hourly rates for:

Bookkeeping £25
Management accounts £40
Accountancy £55

Good luck getting back into it! :-)

missieamy

Thank you very helpful.
I have always charged by the hour and totally agree you do end up doing yourself as the job takes longer at first.
I find it hard to charge any other way when I am working in a clients office, this new one will be based at their offices and will be half to one day per week.

Monsoon

missieamy wrote: »

Thank you very helpful.
I have always charged by the hour and totally agree you do end up doing yourself as the job takes longer at first.
I find it hard to charge any other way when I am working in a clients office, this new one will be based at their offices and will be half to one day per week.

In which case, I would recommend quoting by and charging a half day rate. Don't charge by the hour. If you do 6 hours, say, you lose the last 2 hours of the day that you can't fill up with another client. That can't be helped, but why should you lose out on it? Electricians etc tend to charge by a day rate, no reason we can't.

missieamy

Good idea I like it. Thanks.