new client

wildgoose1uk Registered Posts: 200 Dedicated contributor 🦉
Ok, I have a new client now. This is the first one where I am actually producing accounts as opposed to other services. Does anyone have any hints and tips on what sorts of things to look out for and what are the most common journals that are needed?

Thanks in advance



  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Sanity check. You don't say what industry they are in, so it's difficult to point out areas of risk, but basically do the figures make sense? Sales of 20k, cost of sales of £15k, less overheads and a porsche on the drive? Undeclared cash, maybe? Really rough example.

    Common journals:

    Class 2 NI out of expenses into drawings
    Prepayments and accruals
    The accountancy fees journal! Accy fees relating to that year will practically always be an accrual.
    Use of home
    Private use journal
    Any other disallowable expenditure
    And obviously correcting any errors...

    Congrats on the client!
  • wildgoose1uk
    wildgoose1uk Registered Posts: 200 Dedicated contributor 🦉
    Hi Monsoon - Many thanks as always for your answer.

    The business is a shop. He has a secondary income stream as a handyman that he started during the year and his wife did some dance lessons but I believe they have ceased.

    Do you have any template letters I can use, such as for their previous accountants?
  • wildgoose1uk
    wildgoose1uk Registered Posts: 200 Dedicated contributor 🦉
    Aarrgggh!! It's a partnership........

    the options seem to be requoting or swallowing the difference.

    What do people think?
  • deanshepherd
    deanshepherd Registered Posts: 1,809 Beyond epic contributor 🧙‍♂️
  • clegganator
    clegganator Registered Posts: 184 Dedicated contributor 🦉

    Templates are avaliable from professional bodies and then can be edited to suit your practice.

    Good work and hope you get more!
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