Hi
start up practice looking for the best options for final bound accounts for clients.
what do you use / recommend?
TC
Replies (27)
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Who drinks out of a cracked mug?
I hear that the British Library has started to use this internet gadget! What's wrong with travelling to London if you want to read a book?
Personally, I don't care whether it's champagne or water I still wouldn't drink out of a cracked mug.
I see OGA's client's get pdf's "if they want". My clients get pdf's as standard and accounts in leather binders which are hand bound in the highest quality English bridle calfskin and hand waxed and polished to the softest, smoothest finish "if they want to pay for them"!
Sign of the times
My sentiments are with you entirely NH. I give all clients one bound set of accounts, for ltd's one per shareholder. This is purely for my own sense of professionalism: after all I wouldn't drink Dom Perignon from a cracked mug, so why present an artisan produced set of accounts in a "shoddy" way?
They also get unbound sets for the bank etc and pdf's if they want.
Sadly though, clients care little for this and precious few accord the accounts the respect they are due - they see them either as a necessary evil, or an offering on the alter of mammon.
Few treasure them as they should, peer to Creation, the finely honed order of a Balance Sheet made good from the chaos of the shoe box!
Don't get upset
I don't see what the problem is.
I've pointed out that pdf's are cheaper and save a lot of time.
NH mentions shoddy looking set of accounts but I don't know anybody who has championed them. We might as well comment on the numbers adding up and the tax rules followed if we want to carry on with the irrelevance theme.
I have a functional purpose built office attached to my house. Some people may champion having a city centre office with atrium and secretaries. Some potential clients would think: "Wow, an atrium! He must be a fantastic accountant". Others may think an atrium is a waste of money. I'm sure clients have views about whether time and money spent providing a client with a bound set of accounts is better than receiving a pdf file. I'm more than happy for NH to get the clients who want bound sets of accounts and I will make do with the one's who choose pdf's!
Wasnt the question about bound accounts?
Peter for goodness sake stop taking comments so personally. If you want to send PDFs good luck to you.
My opinion is that accounts should be presented smartly in a smart binder and that is my advice to TC. If you aim for a quality output in ALL that you do you can build a quality practice and charge high fees.
It is clear many of us have differing opinions and choose numerous ways to perform and present our work.
I think this question has run its course - all the best TC.
Taking advantage of the internet?
I'm certain I didn't say output should be shoddy. I have said I prefer pdf's. Do you think pdf's are shoddy? Is sending a pdf in seconds not preferable to however long you take to get accounts sent through the post or handed over at a meeting?
Quality
I think everything that leaves the office letters/emails/accounts etc should be presented as smartly as possible reflecting the high quality of the work done. As I said before its one of the few tangible things a client sees.
If a client gets a shoddy looking set of accounts in a cheap naff folder why should they think that the work undertaken is of a high standard.
Each to their own.
Paper Age v Electronic Age
NH, would this be a fair assessment of our differing views?:
You: presentation is everything
Me: substance over style
Try these
I don't think presenting final accounts in a Tesco carrier bag looks very professional!!, or even a Harrods carrier bag come to that.
I've tried various binding systems, I find heat sealed folders better than the various comb binding systems.
This outfit sell a very professional looking folder with a clear front cover.
Convenience
Put it this way: Would you go to Harrods and prefer your purchases in a Tesco carrier bag or have to go to Newcastle to sign for your Harrods carrier bag and then travel to Liverpool to pick it up?
Quality and standards
Put it this way if I went to Harrods I wouldnt want to come away with a Tesco carrier bag...............
pdf's
I don't include signatures in pdf's but you can if you want.
"I am of the old school - I think presentation is everything."
I spend my time ensuring the numbers are right and my client's questions are answered. The rest I do as quickly as possible: send pdf and points to note and ask client if they agree or any questions.
Presentation
I am of the old school - I think presentation is everything.
You work hard preparing the accounts and it is one of the few tangible things a client sees so personally I think smartly bound accounts are essential. I always use a binder with a printed cover.
Cheap & Cheerful.
Staple them and bind the edge with cheapo insulating tape.
Always meant to use a different colour for each year but never quite managed it.
PDF files and signatures
How do you include signatures in accounts in pdf format?
Do you scan the signed copies or what?
Way round the problem
I send pdf's to 99% of my clients. With the remainder I get them to sign a set for me and if they want to change their copy that's up to them. If you are really worried about it why don't you have a summary of the important figures on the page you sign?
With one client who I don't provide with signed accounts he said his bank needed three years accounts so I signed a covering letter and put all three years profit & loss accounts on one sheet. I gave the two sheets stapled together to my client and he gave them to the bank. He said that he thought the bank wondered whether he'd doctored the figures and they'd muttered about never seeing accounts like that before!
I said I'd phone the bank. It was a nightmare getting through to them to start off with. The bank had come up with a system of getting you to key in sort codes and account numbers and didn't seem to consider anybody other than a customer would phone them. The call centre monkey had never heard of "Tooting". Eventually, when I spoke to the "relevant" person she didn't understand my offer to send pdf's by email. In the end I posted the accounts to them. So much for my attempt to get the information to them quickly!
My bank never bothers asking to see my accounts. They know what goes through my bank accounts and that's good enough for them.
My trusty stapler has served well for the last 9 years. Makes them easier for clients to file away and I think they would rather I did this than charge them extra for a fancy binding.
The first thing I usually do if I get anything bound is rip the pages out, punch holes in them and file them compactly in a folder.
.
! always use a clip file.
Staple the pages together first then put them in the clip file. Never had a complaint.
Holds hands up in horror
What, does no one else use brass eyelets, coloured ribbons and sealing wax?
Not my view
I start from the basis that my clients are honest until I have grounds to suspect they have been dishonest. I don't think the opportunity to tamper with a clip file is a temptation they will find difficult to resist!
I think your decision is better based on presentation. In some instances a bound copy may look more professional, but it's a pain if there is a late adjustment.
Rexel CB206 comb binding machine
I use a Rexel CB206 comb binding machine. Accounts are bound with a leatherboard/leathergrain back cover and a transparent front cover.
I got the machine from Staples a couple of years ago for about £60.00 but you should be able to find a decent deal online.
Regards
Juliet
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thanks
my main concern about using something like a clip file is that the client could potentially take pages in and out and replace them with their own
if the accounts are properly bound or stapled in its more obvious if they have been tampered with
Has anyone had any problems like this or is this a bit over cautious?
Binding machine
I bought a Rexel comb binding machine with see through covers which I think looks good.
I think it cost about £100 a couple of years ago but you may be able to get a better deal somewhere.
If you do go down this route make sure the see through covers are not cheap (not too thin) and make sure the binding machine punches enough sheets (plus the covers) to do most accounts. You don't want to punch holes in pages 1-6 and then 7-12 separately in case the holes don't line up exactly.
Local office supplies shop
I don't do that many so take them down to the local office supplies shop and they comb bind them for about 80p a set with coverboard.