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Hi,
I qualified to AICB CB.cert Nov 2010, then a couple of months later fell pregnant with 2nd child so decided not to do any active advertisement till baby was born and things settled down. Anyway, I have had a call for a local business who got my number from their accountant and we've arranged a meeting on Wednesday lunch time. Basically this is potentially my first client, they are a small ltd company only been set up since June 2011, the impression I get is that they are in a bit of a mess, they haven't really done anything yet and would like someone to come in and sort them out and then keep on top of the books after that. I'm really nervous as it's been a while since I qualified i'm frightened that I won't know what i'm talking about and more importantly won't know where to start.
I am after some advice about how to tackle that first meeting, can anyone help??
Edited at 10 Apr 2012 11:44 AM GMT
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Hi,
Nerves are good, I'm still a bit nervous after 2 years when I go to meet new clients. I suppose it's a bit like an interview. But remember it's a 2 way interview.
Preparation is the key for me. I make sure I have all the paperwork I need and information on the type of questions I think they'll ask, but you can never have everything. If they ask you a question that you don't know off the top of your head, say so but tell them that you'll check and get back to them. I would normally send them an email with answers the same day, or the very next day.
If you're not happy to give a price there and then say so. Don't let yourself be pressed to give a figure that you later regret. Arrange to send them a quote later that day, or the next day.
I may get shot down for saying this, but most clients are essentially the same. Thier paperwork or way of doing business may be different, but the way we as bookkeepers work with them will be the same. They will sell a product or service. They will buy products or services. They may have one or more bank accounts to reconcile, but they're never that unique in my experience. Likewise with their questions. They tend to be about what they can and cant claim as an expense. How to deal with their VAT. Can they employ their wife/husband. How does payroll work etc.
9.9 times out of 10 you are their knight in shining armour, so don't worry too much.
Enjoy it and let us know how you get on.
Kris
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Hi Kris,
Thank you for your support. You talk about preparation and charges and that's part of the problem really, with me having no experience yet I have no idea what they're likely to ask me, what paperwork to take? and charge a set fee or by the hour?? I think I would rather quote an hourly rate but with working from home i'm worried that they won't agree to that because they don't know how much work i'm putting in, on the flip side I don't want to do myself out of money by quoting a monthly fee because I don't have the experience to be able to judge how much work I will need to put in.
Also, as they have no systems in place yet I don't know what to suggest to them, paperbased, excel, computerised?? I haven't bought any software yet, again because I don't know what's best! Help!! I really wanted my first client to be well established so I could just go in and take over, but the impression I seem to get is people only look for a bookkeeper if they're in a mess.
I'm sure i'm probably thinking too much into it, but truth be told I am a bit of a perfectionist, and I dread coming across clueless. I hate not knowing exactly what i'm doing! I know you can only learn by getting the experience, but i'm just so nervous about these early experiences and the unknown.
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- Member
- Practice Licence
- 77 posts
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Hi Mandi, I too was in the same situation as yourself only a couple of months ago. I am still extremely new to bookkeeping but I have now went through my first client ordeal.
I was very honest with my client and explained that although I was qualified I was not experienced, but that I had the backing of the ICB and support from other ICB bookeepers. Less is expected from you if your honest about not being experienced. When they ask questions and you dont have the answers, tell them you will get back to them.
I didn't purchase software to begin with. I used a trial version of Solar to set my client up. Then I decided against Solar and purchased Quickbooks and transfered everything over. This gave me even more transactional experience.
I very much like black and white situations. Right or wrong. As I'm finding out bookkeeping is definately not that. I am very concerned about doing something wrong.
I too wanted to go into an experienced environment and maintain books. That way I thought I would be able to pick it up easier. However it does seem to be people who have got themselves into a mess or brand new businesses who look for bookkeepers. I now think though, setting someone up from scratch is probably easier than taking on an established business. But so far I dont really have experience to compare.
Good luck 
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Hi Paula,
It's great to hear of other people in the same situation as I am, can I ask how you agreed a price with your client? and what did you take to your first meeting?
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- Member
- Practice Licence
- 77 posts
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Hi Mandi,
I am still going to be very nervous each time I speak to a prospective new client. I'm hoping that maybe in a year time when I feel more comfortable it will be a little easier!
I investigated the rate other bookkeepers charge in my area before meeting my client. For my area this could be as little as £12 and as much as £25. But the higher you charge the more knowledge and experience you should have.
For my first client, I had it easy. He was in a mess and I was his saviour. So I dont think I could have said anything wrong to him anyway! But he was a relatively new business and so am I, so we both looked upon it as helping each other out.
I didnt have much to take along to the meeting. A new client form to take down their details and requirements and my own stationery to leave information with them. I did take my laptop incase they wanted to see the software I used, but my laptop never made it out the bag, wasn't necessary.
I am new, very inexperienced but the support received from other ICB bookkeepers was really helpful and beneficial.
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- Member
- Practice Licence
- 88 posts
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I still get nervous whenever I meet a prospective client and I have been in practise for 12 years !! Remember, they will probably be as nervous of you as you are of them, you also have a skill they require which they do not have themselves! Be interested in their business and themselves. Think about what you would need to know if you were employing someone to come into your business. Don't try to make out you are hugely experienced if you are not. If there is a huge amount of catch up work to do - it may well be worthwhile setting out a price for doing that (don't suggest a price when you are there if you are not comfortable) and then an ongoing charge for work in the future. You will be absolutely fine. Best of luck and let us know how you get on. I always take diary, calculator, mobile and business cards!
Louise
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Hi Mandi,
When I initially meet a client I've normally had a discussion on the phone about their needs etc. I tend to use the first meeting to confirm everything they have told me, and because of my current pricing structure (unless they've told me a load of porkies) I already have a price for them and the letter of engagement for them to sign. I generally ask them to bring their passport and drivers license and a photocopy of each for my due diligience.
I have a new client information form that I can use the meeting to fill in any blanks which are left. I will sometimes take sample copies of things they can expect from me on a monthly basis and a new client information pack which explains what I do and what I don't do and outlines my responsibilities and their responsibilities.
I get them to complete a standing order mandate at this time too, unless it's a one off piece of work.
I mainly use the initial meeting to get a feel for the client and make sure that this is someone I could work with, find out a bit about them and their business and see where I can add value to what they do.
Hope this helps.
Kris
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- Fellow PM.Dip
- Practice Licence
- 186 posts
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kjmccullochsaid:
“Hi Mandi,
When I initially meet a client I've normally had a discussion on the phone about their needs etc. I tend to use the first meeting to confirm everything they have told me, and because of my current pricing structure (unless they've told me a load of porkies) I already have a price for them and the letter of engagement for them to sign. I generally ask them to bring their passport and drivers license and a photocopy of each for my due diligience.
I have a new client information form that I can use the meeting to fill in any blanks which are left. I will sometimes take sample copies of things they can expect from me on a monthly basis and a new client information pack which explains what I do and what I don't do and outlines my responsibilities and their responsibilities.
I get them to complete a standing order mandate at this time too, unless it's a one off piece of work.
I mainly use the initial meeting to get a feel for the client and make sure that this is someone I could work with, find out a bit about them and their business and see where I can add value to what they do.
Hope this helps.
Kris
”
Blimey Kris - you are so effecient & seem to have everything all sorted! I am very impressed & a tad envious ;-)
I have my practice license number but am still awaiting the paperwork so my mind is currently in business startup mode & overflowing......
Could I be really cheeky & ask if you could maybe email a copy of your letter of engagement, new client form, sample copies of the types of thins you produce on a monthly basis & details of what you include in a new client information pack? If you can my email is jgurrie@aol.com
I'm assuming your pricing is still the fixed fee based on the flow diagram you were generous enough to share in a previous post & you can determine a price based on answers similar to that of your instant quote?
Daft question - but what do would you class as a transaction?
It's still very daunting on when one eventually does get a client on board how you take them from a bag of receipts to an organised structure.....
Thanks in advance,
Jo
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Hi Jo,
It's been a case of trial and error to get here. I can be quite disorganised (not ideal for a bookkeeper) so I really need to use these things to force me to remember what information I need to get.
You can get a copy of the new client form and loads of other good resources at www.bkpr.co.uk
As for the information pack, its really just an 8 page A5 booklet. It explains a bit about me and the services I offer, some frequently asked questions maily around they way I expect the information to be supplied to me, and anything specila I need the client to do with it first. My money laundering policy including the type of ID I need and why.
I'm sorry, and it's not because I'm being awkward but I'm not at a stage I want to share my letter of engagement right now. Mainly because it's not been checked by a lawyer and I would hate anyone to come unstuck legally with something I have written. I can tell you the main information it includes though:
- Work to be done
- Scope of limitations
- Agreed upon services
- Fee Schedule
- Professional fees
- Factors affecting your professional fees
- Direct expenses
- Payment terms
- Termination
- Limit of Liability
- Applicable Law
I would class a transaction really as any receipt, payment or transfer of money between accounts. Really any balancing DR and CR entry I need to make is a transaction.
I hope this helps you.
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Jo Gsaid:
“kjmccullochsaid:
“Hi Mandi,
When I initially meet a client I've normally had a discussion on the phone about their needs etc. I tend to use the first meeting to confirm everything they have told me, and because of my current pricing structure (unless they've told me a load of porkies) I already have a price for them and the letter of engagement for them to sign. I generally ask them to bring their passport and drivers license and a photocopy of each for my due diligience.
I have a new client information form that I can use the meeting to fill in any blanks which are left. I will sometimes take sample copies of things they can expect from me on a monthly basis and a new client information pack which explains what I do and what I don't do and outlines my responsibilities and their responsibilities.
I get them to complete a standing order mandate at this time too, unless it's a one off piece of work.
I mainly use the initial meeting to get a feel for the client and make sure that this is someone I could work with, find out a bit about them and their business and see where I can add value to what they do.
Hope this helps.
Kris
”
Blimey Kris - you are so effecient & seem to have everything all sorted! I am very impressed & a tad envious ;-)
I have my practice license number but am still awaiting the paperwork so my mind is currently in business startup mode & overflowing......
Could I be really cheeky & ask if you could maybe email a copy of your letter of engagement, new client form, sample copies of the types of thins you produce on a monthly basis & details of what you include in a new client information pack? If you can my email is jgurrie@aol.com
I'm assuming your pricing is still the fixed fee based on the flow diagram you were generous enough to share in a previous post & you can determine a price based on answers similar to that of your instant quote?
Daft question - but what do would you class as a transaction?
It's still very daunting on when one eventually does get a client on board how you take them from a bag of receipts to an organised structure.....
Thanks in advance,
Jo
”
I too am very impressed, please tell me you didn't start out this organised!!
And I agree Jo, i'm not entirely sure how I will turn a bag of receipts and cheque stubbs into something the accountant will be happy to see, one step at a time I guess.
Kris-Also being very cheeky, if you are happy to forward Jo some info i'd be really grateful if you could copy me in ajhall.bookkeeping@gmail.com but only if you're happy to, I completely understand if you're not. I'm sure once I get up and running and a bit more confident all this will be 2nd nature but for the time being any help is grately appreciated, anything so I don't feel completely in the dark!
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kjmccullochsaid:
“Hi Jo,
It's been a case of trial and error to get here. I can be quite disorganised (not ideal for a bookkeeper) so I really need to use these things to force me to remember what information I need to get.
You can get a copy of the new client form and loads of other good resources at www.bkpr.co.uk
As for the information pack, its really just an 8 page A5 booklet. It explains a bit about me and the services I offer, some frequently asked questions maily around they way I expect the information to be supplied to me, and anything specila I need the client to do with it first. My money laundering policy including the type of ID I need and why.
I'm sorry, and it's not because I'm being awkward but I'm not at a stage I want to share my letter of engagement right now. Mainly because it's not been checked by a lawyer and I would hate anyone to come unstuck legally with something I have written. I can tell you the main information it includes though:
- Work to be done
- Scope of limitations
- Agreed upon services
- Fee Schedule
- Professional fees
- Factors affecting your professional fees
- Direct expenses
- Payment terms
- Termination
- Limit of Liability
- Applicable Law
I would class a transaction really as any receipt, payment or transfer of money between accounts. Really any balancing DR and CR entry I need to make is a transaction.
I hope this helps you.
”
I have just read this post, thank you for being honest
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mandi1080said:
And I agree Jo, i'm not entirely sure how I will turn a bag of receipts and cheque stubbs into something the accountant will be happy to see, one step at a time I guess. ”
Mandi,
If this is something you are worried about have a look at www.bkpr.co.uk. You will find a training excercise about Michelle who is a hairdresser. It's a fake businesses first few weeks of paperwork. It's not exactly what you'll get from clients but it's hard to emulate some of the issues real clients present.
Kris
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Kris,
I've just signed up to that site, thank you for your advice, much appreciated.
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- Fellow PM.Dip
- Practice Licence
- 186 posts
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kjmccullochsaid:
“Hi Jo,
It's been a case of trial and error to get here. I can be quite disorganised (not ideal for a bookkeeper) so I really need to use these things to force me to remember what information I need to get.
You can get a copy of the new client form and loads of other good resources at www.bkpr.co.uk
As for the information pack, its really just an 8 page A5 booklet. It explains a bit about me and the services I offer, some frequently asked questions maily around they way I expect the information to be supplied to me, and anything specila I need the client to do with it first. My money laundering policy including the type of ID I need and why.
I'm sorry, and it's not because I'm being awkward but I'm not at a stage I want to share my letter of engagement right now. Mainly because it's not been checked by a lawyer and I would hate anyone to come unstuck legally with something I have written. I can tell you the main information it includes though:
- Work to be done
- Scope of limitations
- Agreed upon services
- Fee Schedule
- Professional fees
- Factors affecting your professional fees
- Direct expenses
- Payment terms
- Termination
- Limit of Liability
- Applicable Law
I would class a transaction really as any receipt, payment or transfer of money between accounts. Really any balancing DR and CR entry I need to make is a transaction.
I hope this helps you.
”
Thanks for all the above Kris, very much appreciated :-)
All the best,
Jo
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Just to let you all know, the meeting yesterday went ok. I didn't have to win the business it seemed to be assumed that I was going to do it so that was a relief. Only trouble is, it really is a complete mess, don't know where to start!! Guess i'll just have to work through it methodically, glad i've got you lot here for advice!!
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Well done Mandi,
As you say, now the fun begins. Does it feel like your really a bookkeeper now you look at a pile of papers? A lot of people seem to get a great feeling when they see it go from the shoebox or plastic bag to organised, personally I get the great feeling when the money appears in the bank.
You actually make quite a good and interesting point in your post. After thinking about it all of the initial meetings I've gone to have how I will do the work, not if. Perhaps it's the case that by the time we get to the initial meeting we already have the work and worry ourselves for nothing.
Well done again.
Kris
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