Help with charges!!

[mcarey]

Hi all,

A while ago i posted a thread here introducing myself etc... now I need your help once more if you dont mind, as i had previously mentioned I have just started working from home doing book keeping services, can somebody provide me a guideline of how to work out prices you charges clients around eastmidlands area. Let say you are going to do accounts for a small company with a turnonver of 34k? How much could you say is a fair value to charge for this? Also, soon was looking at offering payroll services how do people work out how much to charge clients for payroll services

Any help will be appreciated.

Ta

 

[ARK]

i have an hourly charge in mind which i use to try to cost a job. and use that as a guide. ( so far i've always ended up doing more hours work than i originally costed one day i'll get there)

But for certain things i have a fixed charge as guides but even these are up for negotiation;
VAT; £250
Ltd Co Accounts; £6-800

also be mindfull of what your competitors are charging, one way of finding out would be to try and get a quote over the phone from some for a rough guide. don't undercut them just be competitive.

 

[mcarey]

Ark, Thanks alot for your advice. At least you have given me a rough idea of where to start.

 

[Jenni384]

You say you're doing bookkeeping but then you say you're doing company accounts - did you mean the books for the company or the end of year returns? What ARK says sounds about right, £6-800 for Ltd Co end of year accounts. How much the bookkeeping will cost depends entirely on the volume of transactions and thus how long it will take you.
AFAIK there are 3 ways of pricing bookkeeping: Per hour, per job (usually estimated on how many hours you think it will take) or per transaction (eg 15 transactions per month = £30, 50 transactions a month = £50, these figures have been plucked from the air!). The latter 2 will likely earn you more money than a flat hourly rate.

There are various threads on how much to charge for bookkeeping on the forum so a search may turn up plenty of comments too.

HTH

 

[mcarey]

Jenni,
Thanks for your reply. Ok, I am doing both book keeping and preparation of accounts. I am AAT qualified and I am just applying for all the necessary requirements plus insurance. In the long run I am hoping to build up, I have also done payroll and have got qualification for this plus experience.

The reason I posted the thread was I did not want to go out there then underestimate myself or even charge too much, as am just starting up, i want to charge reasonable prices. I hope this makes sense so wish my luck.

 

[ARK]

We've all been in your posittion at some poin, i not so long ago so totally understand where your comming from