Discussion:All the legalese

I now have my business plan in place for my small time bookkeeping and accounting practice. I have my pricing down for the tax side (I morphed it using several sources including the intuit national survey). I have what I will offer as a base package for the bookkeeping and accounting side (total price will be based on the transaction volume of the company, difficulty, etc. I am looking at a target estimated hourly rate of about $45-50). On the payroll side, I am a bit shaky on my pricing. I will offer basic, deliver the checks to you payroll services until and unless the client wants direct deposit, etc. Once I have the first client on the DD services (which requires $199 per year outlay from me), I will push it harder as a product. So I still need to iron out my pricing on payroll.

My marketing will consist of anyone who will listen. I will hit up my ex-brother in law for some business that is too small for them to handle, my son's cub scout pack, at the baseball fields in the Spring, perhaps some senior centers in the area, and some cold calling on local mom and pop businesses in the area.

But now for my real question....for taxes, bookkeeping/accounting, and payroll....what types of contracts and or legal papers do you all use? I can't find much on-line.... I would assume there would be some contract spelling out exactly what you do for your clients as well as payment arrangements at a minimum. I just don't want to have to shell out money for an attorney to create sample forms to ensure I am protected.

Thanks, New

By the way, while you and I just called them "contracts" most people in this industry call them "engagement letters".

There may also be some "building an accounting and consulting" books you can find in your local library which might have sample engagements letters.

I thought the same thing when I was typing it....call me hypocritical.

I found one article that gave a sample contract but questioned whether having it and using it would run clients off. I have a good sample that is simple and effective as to prevent misunderstandings.

Once I really get running, I will look further into it. I am an LLC which protects me and my assets and I started the business with virtually nothing ($1,000 cash and some furniture). I am not going into debt in any capacity, I will run my business debt free or perish trying. I just don't have the revenue to justify expensive lawyers just yet.

Thanks, New

Thanks, Michael

Michael

. Call EVERYBODY you know and let them know what you are doing. You will get your first client in no time. Last thing...Listen to the good advice other people are willing to share with you. They have been where you are now.

Michael