Share this content

Demanding client and loan funding


Didn't find your answer?


We have a client demanding full and final accounts within the next 7 days, as funding is urgently required and the lender stating the loan only open for offer with these.


client sent some important needed info yesterday.

I am not in a position to securitise all the posting, post journals and finalise these. I did present draft accounts, but not happy to sign off on anything at the moment.


How do you deal with this?



Replies (13)

Please login or register to join the discussion.

By lionofludesch
03rd Mar 2020 18:10

Tell him to find an accountant with time to do the work.

To put it in context, when was the year end ?

29th February is more reasonable than 30th June.

I tell them I'll do my best but no promises. The correct sequence of events is accounts first, tax return next (if self employed), loan application last.

Oh - and ask for some cash to oil the works.

Thanks (0)
By Cardigan
03rd Mar 2020 18:18

I would firstly check if the 7 day timeline is real. It could be that accounts are needed in 10 days or 14 days and the client is adding a buffer. Why is the lender pushing for such a quick turnaround?

Having faced a similar situation in the past, I pulled out all the stops and managed to get accounts done in record time for someone. See if there is any way at all that this deadline can be met. Can meetings be moved? Can you work overtime? Spending 20 minutes planning how to do the job smarter can save hours down the line.

Most importantly, make sure you are paid sufficiently for the work you are doing to a tight deadline. I would ask for it upfront if possible. If you have to move mountains to get it done and disappoint other clients, it is only fair.

From experience, the demanding clients with the unrealistic deadlines are the last to pay, if they pay at all.

Thanks (0)
By lionofludesch
03rd Mar 2020 18:30

Just to clarify - has he just brought in his records or have you asked him to sort out a few queries and he's just brought the stuff in ?

If the latter, I'd probably pull out the stops - maybe for a premium fee, admittedly.

It depends. How demanding and needy is he ? Will he be appreciative of my efforts? Is he a good payer ? Does he only take action when he needs something, as opposed to when I need something ? Am I concerned about keeping him ?

Thanks (0)
By murphy1
03rd Mar 2020 21:02

Hi, complex business, t/0 £2m, year end not that long ago.

Timescale doesn’t allow time to ensure from reporting figures accurately. Will talk more and probably advise to go else where.

Sick of the arrogance to be honest, but equally don’t want to leave them in a hole needing support

Thanks (0)
Replying to murphy1:
By atleastisoundknowledgable...
04th Mar 2020 08:42

Send them my way. For double /treble your fee I’ll get them done next week. I suspect that that’ll make them relaxed on the deadline they gave you.

Thanks (0)
By SXGuy
04th Mar 2020 07:13

Jog and on are two words I find very useful.

If you've explained to the client that having a final set of accounts done and signed off within 7 days is unrealistic and they are still not happy then tuff. Your not a miricle worker.

Clients often take months to supply info and then demand everything yesterday, sometimes they need to learn a hard lesson.

Thanks (0)
By Jackie in Wiltshire
04th Mar 2020 09:36

Just tell them you are an Accountant, not a magician.

Thanks (0)
By CW2012
04th Mar 2020 11:32

Oh the benefit of experience, these kind of clients as already mentioned are usually the worst / none payers, up your fee to make it worth your while, get the cash upfront or at worst on delivery of the accounts and if the fee fits work double shifts.
I had a CIS contractor call in with his records and asked for the return to be done that day, new client, never seen them before, a member of staff had a bit of spare time so we got them done, he then wanted them changed to reflect some missing expenses, the return was filed that day, the bill wasn't settled and when I chased payment I was told that our service wasn't any good and that's why the bill wasn't paid.

Thanks (0)
By ireallyshouldknowthisbut
04th Mar 2020 13:40

If you cant do it, you say "I cant do that".

Or for the more sarcastic "if you asked me 2 weeks ago, it would not have been a problem"

Don't ever overpromise. If you rush it and screw it up, then what? it will be your head in the block.

Its is not as if anyone else can do it quicker given it will take you a week to do the handover for business of this size, right?

They will have to wait. Lenders will often part process and application and then need your figures 2-3 weeks into the process.

Thanks (0)
Jennifer Adams
By Jennifer Adams
04th Mar 2020 14:34

My response would be the same as Cardigan... find out whether the deadline really is 7 days.
I get this from clients.. usually referring to a mortgage and want it as in yesterday and invariably in January.
I always always ring the broker (or lender in your case) and invariably something can be arranged.
But with the client I huff and puff .. say others are in the queue but as a great favour I would try my best.. and point out that they might have to pay extra for my overtime.
Then I make sure that any emails to him go out about 7pm at night and the final accounts sent to lender at just about the deadline.
He must have known about this before... why ask now?

Thanks (0)
By [email protected]
06th Mar 2020 10:30

Playing devils advocate
"I did present draft accounts, but not happy to sign off on anything at the moment."

As a client: If I've received draft accounts I would expect them to be able to be finalised upon my approval

You dont say anything about the timeline for the additional information. clearly it has an impact on the accounts and you are uncomfortable with signing off.
Is there any further info you require? if so push the ball back in the clients direction
If you've been waiting a long time for this information I would point this out and politely tell them that you would have to re-schedule some other clients work to accomodate and there will be a 50% premium for doing so.
Of course this depends on whether you can turn it around in 7 days at all. If you can't then you need to tell the client what time you can turn it around in and what premium there is for doing so.

It is amazing how "Urgent" becomes not so urgent when there is a premium to pay!

I'm afraid people have a natural tendancy to leave things to the last minute which is why marketeers make offers with short deadlines

Thanks (0)
09th Mar 2020 14:09

No doubt put in some sort of offer on a house already and the client will no doubt seek to blame you, if he loses it, whether that is down to timing of accounts or income levels - I would suggest completing (to avoid reputational damage) but with a strong reminder of your terms of trade and premium price.

Personally I am fed up of the arrogance of the brokers, who seem to throw out requests for certificates and additional information with no thought as to the cost for the client (or the firm) or the fact that most of the time, they already have the information if they bothered to look or take the time to understand the accounts/returns - rant over...

Thanks (0)
By Moo
09th Mar 2020 16:33

Murphy1 hasn't specified that the loan is a personal one simply that it requires final accounts.
So - loan urgently needed for business in stress and accountant being pressured to certify figures they are not happy with is my assumption.
That sets my warning lights flashing and sirens wailing with the possibility of being sued by the lender if the loan goes bad.
If accounts are supplied for this purpose they should have all the usual caveats and more in spades.
Personally I would be tempted to show the client the door.

Thanks (0)
Share this content