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Advice of fee for Mgt Acct and Projected Accounts

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Hi,

Please would anyone have a guide what to charge for a small comany turning over about £180k. to prepare

a projected account  to year end from the 10th month

and also for a 10 month managment account. 

Awaiting your response. Thank you 

Replies (10)

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By David Ex
19th May 2021 00:22

Is this an existing client or a one-off assignment?

How good are the accounting records?

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By Lhc2020
19th May 2021 10:32

It's an existing client and the accounting records are ok

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By David Ex
19th May 2021 11:02

Lhc2020 wrote:

It's an existing client and the accounting records are ok

Maybe £500?

Would suggest you need to be careful with the “projections”. Guessing the information is for a loan application or a potential buyer. You need to be clear the basis on which the figures you produce are being prepared.

Worth seeing what your professional body has to say about caveating this kind of work.

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By paulhammett
19th May 2021 07:44

For a one-off like this, you need to make a realistic assessment of the quality of the accounting records and then estimate the numbers of hours to complete the task times the hourly rate you believe you are worth.

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blue sheep
By Nigel Henshaw
19th May 2021 08:25

impossible to answer, it could be anywhere from £50 to £5000, depends on the records and the type of business

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By Moonbeam
19th May 2021 13:49

The real answer is how long will it take you to do all that for this particular client. Then you can apply a rate.

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By I'msorryIhaven'taclue
19th May 2021 14:00

So it's a 10 month long set of management accounts and, separately, a 2 month projection. Correct?

Are they separate, or will they be integrated into one 12 month document?

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By Lhc2020
19th May 2021 14:10

Thank You. its a 10 month management account
or a 12 month projections using the actual to month 10 to project to year end

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By I'msorryIhaven'taclue
19th May 2021 14:56

In your shoes, I'd scope this out with the client ahead of quoting.

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By Hugo Fair
19th May 2021 15:57

And at the same time, try to find out if they have a projection already in mind which they want you to support (given the insurance protection you may end up needing)?

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