Can anyone tell me what this means.......................

System

Can anyone tell me what is involved in "doing someones books". I have been offered a small job and have been told that i am required to do a landlord of a pubs books. Sorry if i sound a bit thick but does this just mean keeping invoices and recipts up together or is there more to it than that - VAT returns etc. I am a newly qualified technician but I have never "done" someones books before and im not sure if i have the confidence to do this as i wouldnt want to do it all wrong - im not sure whether i should take the job or not. Any advise would be really appreciated.

System

Can anyone tell me what this means.......................

Hiya<BR><BR>At a minimum this is likely to involve writing up the landlord's cashbook, and probably the purchase and sales day books too. As you'll then know more about his finances than he does, you'll probably be doing the VAT returns too.<BR><BR>Pub's have relatively simple financial records, cash sales, bankings, wages, purchases and a few other expenses, so should be a breeze for you. It only gets tricky if you have to work out the wages too (although even then it's not too bad as there are usually only a few staff).<BR><BR>My advice is to ask exactly what the landlord wants to be done, as this should give you an idea if you have the skill set required for what he wants, and also an idea of how much time it might take to do. <BR><BR>Like I said, you shouldn't have any troubles with the books of a pub, but I realise that doing something like this can seem a bit daunting when you've never done it before.<BR><BR>Hope all goes well<BR><BR>Jimi

System

Can anyone tell me what this means.......................

Hi <BR>Thanks for your advice. If i did decide to take on this job, do you know what sort of money i should be asking for?<BR>

System

Can anyone tell me what this means.......................

I am also in the same boat. wanted to know the money for the job<BR>Arjun

System

Can anyone tell me what this means.......................

The money side of things is always a tricky subject. There are no set amounts as to what a client can or should be charged for services provided. It is even more difficult when you are newly qualified and are unsure of your abillity (not if you can do the book keeping part job but the making sure your advice to the client is correct). Before a price can be reached there are serveral things to consider and only you can do this. What to charge in my opinion comes down to several things:<BR><BR>1. What is the client prepared to pay? Lots of potential customers think that if you are a one man band so to speak that they can give you some cash and get a cheap service. You always need to be professional and have an official discussion with the client and make it clear that this is all above board! Let them know (gently) how much they can expect to pay an accountancy company (thought they probably know already and thats why your were approached in the first place).<BR><BR>2. What do you want to earn? You are a qualified professional - I took years to gain the qualifications you have so don't sell your self short! Your actual experience may be minimal but you can still charge a reasonable amount as you have gained knowledge even if it hasn't been applied int he workplace. Look at the local agancies to see what they charge. A technician in this part of the country charges approx £20 p/hr (less £5 p/hr for the agency). <BR><BR>3. Help yourself understand what the client requires from you as this can affect the price you charge (invoice clerks do not earn the same as financial controllers). Look at the accounts (present and past). Understand what tasks are required and the skills it takes to product them. Can anyone do these tasks - if they are specialist they the client pays more for the service. The previous years accounts should be you a good idea for the type of accounting and The time it should take to complete it. Quoting per job can be beneficial if all goes smooth - in the beginning I would suggest being paid by the day or hourly rate (if this is your first job you may be a bit slower to begin with). <BR><BR>4. Things to look for in the accounts - the profit - how much can the client afford to pay you?<BR><BR>Whatever you decide to charge make sure that you are both clear as to what is expected and what you are going to deliver to the client. Quite often the boundaries can be pushed a little as everyone wants something for free but stick to your guns and don't work for nothing or as a favour (it will constantly be expected). <BR><BR>Lastly - put everything in writing - I don't mean it all has to be in a contract (though this is always better) but by writing a letter or email summarising the agreement so that everyone envolved is clear as to what to do.<BR><BR>No one can really tell you what to charge - fees depend on the company you work for (big or self employed). The size and service you provide to the client.<BR>I have a mix of clients and I work for a company (2 of us). The corporate stuff can earn us £5k per month for 12 days input. The self emolpyed person around the corner pays us £150 to do his end of year return. The couple of days a month service is £25 to £45 per hour for the accounts to be done and all the client has to do is sign the returns once every couple of months and be assured that he or she is in safe hands.<BR><BR>I hope this helps! If you need more, let me know. I may be happy to have a chat with you.