Book keeping services

[a-okadmin]

Hi,

I am considering whether or not to offer bookkeeping for small businesses. I have had quite a few requests at networking events but always thought there would be qualified accountants out there already doing it.

Before I invest in any software can you give me your opinion on whther there is room for such a service? Also, if you would use such a service would you expect that person to be a qualified accountant and to do your year end reports etc?

Your input would be much appreciated.
Clare.

[annethedonn]

Clare

We offer this service and we do occasionally get requests for book keepers. We don't offer a full accountancy service though. There are qualified accountants out there, but I would think they're much more expensive. There are many freelance book keepers willing to do this.

Anne

[Alpha]

Clare

There is no reason why you cannot do book keeping providing you can do it competantly.

There are many accounting practices who will refer book-keeping and payroll to others because they do not want to do it(Low value added for established practices and lower value for sole practitioners so better to outsource)

The only reason we do it is that my partner already had a business providing book keeping/payroll and it generated a number of new clients for accountancy services in the early days and still does to a degree.

The only proviso I would add which I posted a year or so ago is that whilst good book keepers are extremely valuable especially to clients (Why pay for an accountant to do a relatively mundane task when you can pay a book keeper) a bad book keeper will often end up costing the client much more as I have on numerous occasions spent many hours unravelling the mess created by so called book keepers that did not have a clue. (One situation stands out when I had to inform a client that he owed several thousand pounds to customs and excise due to the fact that hi 'book keeper' using a spreadsheet which she had obviously obtained from someone, had claimed vat on all purchases including insurance rates etc.

[Marina Stone]

Hi Clare

As my bit for the community I was chairperson of the local pre-school for 5 years (stood down last week :) ). I don't know if you are aware that in the UK most pre-schools are run by volunteer committee one of which is Treasurer, usually with no experience, and looks after the accounts which involves from salaries to petty cash. It usually ended up with the treasurer surrendering and me sorting out the mess!

I made the decision this year to employ a book keeper for the pre-school and finding someone wasn't easy! Perhaps there is a market for you to 'specialise' in book keeping for pre-schools and other community organisations.

Marina

[gj]

From what you say and having visited your website, I get the impression you do not have bookkeeping experience as such.

It might be something to bolt on to your existing services but you should probably outsource it, or bring in someone on an ad hoc basis who has the experience.

Graham