My friend’s mum once said, “Talking about money is dirty,” so let’s get dirty!
As a prospective client I expect you would like to know how much our services are going to be. Well, as my old taxation lecturer used to tell us time and time again – “It depends.”
I will explain:
Bookkeeping- from £10 per month
Fair Pricing with Fuller Accounting Services ensures that our price for bookkeeping is fair for our clients and fair for us.
Our price depends on many factors:
Small businesses and landlords with a low turnover, and with few business transactions will pay less than the larger business, with larger turnover and numerous transactions.
It’s not just about size though. A business that provides complete documentation for their business activities in the accounting period end will be charged less than a client that provides incomplete documentation.
The documentation required to ensure a fair price for clients includes:
Business sales invoices or daily takings,
Business purchase invoices for business expenses,
Business Bank statements
Legible business receipts for business cash expenses.
You will notice that I repeat business. This is deliberate. If a client provides non-business receipts, and bank statements that contain personal expenditure the bookkeeping service provided will cost more.
With Making Tax Digital for Income Tax looming business documentation must be provided, either hardcopy or digitally. If the business documentation is provided as a hardcopy then the cost of the bookkeeping service will be greater as there is a cost involved in converting each transaction to a digital format acceptable by HMRC.
Our Bookkeeping services price will also depend on the bookkeeping software that we use for your business. The software that we use will depend on the requirements of the client, including whether an invoicing app is required to request a demand for payment from your customers.
Businesses that use their business bank account (and business credit card) for all business income and expenditure with minimum cash receipts expenses will affect the price of the bookkeeping service.
Price will also be affected by whether clients provide bank statements as hardcopy, pdf, csv or are happy to use our provided software app to connect directly to their bank every 90 days (a legal requirement) for automatic updates.
Bookkeeping prices are also affected by the frequency of reporting required by HMRC or the client. From annual compliance bookkeeping, quarterly returns and reporting, monthly reporting to a real time view of the business financial position.
For clients that have seen a fall in business activity, turnover or profits due to the Covid Pandemic we offer a discount in our bookkeeping fees.
Finally, although not a factor in the bookkeeping price we charge, we provide annual written proposals for our services and before we are engaged so clients know how much they are going to be charged each year.
That’s FAIR PRICING with Fuller Accounting Services
077 11 77 6208