As a relatively new practice, I still struggle with setting fees! I struggle to distinguish between pricing for a client where the client does his own bookkeeping,(by that i mean keeps basic records, maybe a spreadsheet, but no bank recs) and I prepare the Company Accounts, compared with a client who asks me to do all his bookkeeping, plus the Company Accounts .
My question is, if you take on a clients bookkeeping, where you obviously set a lower hourly rate, do the work, which might result in a bookkeeping fee of approx £250 per year (say based on 12-15 hours work per year), But then how do I reflect this in the final bill for his limited company accounts ?
Adding the bookkeeping fee to the standard fee for limited company accounts might seem to make be expensive in the clients eyes ? On the other hand a reduction of £250 from the final bill would just wipe out the profit, and would mean a lot of hours spent for not a lot of fees!! Is there a balance in the middle somewhere ? Or would you just cost the final accounts based upon a reduction in the hours work required becuase of the improved quality of the books!
Any guidance appreciated.