Book-keeping/Accounts prep

Neillaw

Hi All

I just want to collect peoples opinions.

If you charge a seperate book-keeping rate and accounts prep rate where does book-keeping finish and accounts prep start.
I was thinking that book-keeping finishes at control account level which makes accruals/prepayments accounts prep but someone else in the office thinks that it finishes at TB level.

Opinions please.
Neil

Monsoon

If you're doing the bookkeeping then you should be presenting a perfect TB to the accountant, which may or may not include accruals, depreciation etc but let's be honest, a good bookkeeper can do all these, and should if they have the information to hand.

I always say that bookkeeping ends at the best TB you can present.

Monsoon

I want to qualify that by saying if you're doing all of that, and you're charging for both parts and pretty much doing the job continuously, it's a tricky one in terms of what you should be earning and how much you end up charging.

Personally, I always charge a fixed fee for accounts, and if I have to do bookkeeping I charge it on top at an hourly rate, but I hate bookkeeping, haha (which is why I'm on here as that's what I have to do this afternoon!!)

You may find my ancient blog posts on this subject of interest (the 2nd one is actually more relevant):

https://justanothermip.wordpress.com/2011/03/26/are-you-charging-what-you’re-worth/

https://justanothermip.wordpress.com/2011/03/26/accountant-what-to-charge/

Neillaw

Thanks Monsoon
This is a bored managment accountants afternoon waiting for stock reports.
Tried to work out a charge by doing the maths and then working out my capacity.

Then after calculating a capacity rate of 13% I've decided to put the kettle on!

Waiting for this years results from Burgs survey before setting some fixed prices.