Accounting & Bookkeeping & Small Business Forum

[Sherry]

I am not a CPA.

1. So, what is the difference between bookkeeping and accounting in Oregon law.


2. I have had conversation with clients that just want someone to enter invoices. I responded to them, if you are looking for someone as a data entry clerk, then I am not person for your service. What else would someone say pertaining this situation?


3. I had my first client, said I quoted him a high rate. He also stated that he could hire a bookkeeper parttime or another accountant firm that quoted him at a lower cost.

I am curious of where I went wrong:
It was a small general contractor with 8 employees. 2 subcontractors. 10 venders/suppliers that had started two months ago. He back up work for the last two months and also needs Quickbooks setup. He pays cash basis only approximately 75 check/debits in a month time. I used the billing calculation format for the bookkeeping service on the left side and filled out the standard Compilation. He made a remark that would just be a click of a button to review where his business is standing as long as entries was entered properly. such as the P&L, balance sheet, trial balance, Income statement.

Basically I am gathering he wants someone to just do data entry. What does all of you think?

Does anyone know the Oregon law about the Standard Compilation: Auditing, making sure everything is correct, take all information to interpert data

My family says, not to worry about it beings I went by the billing calculations. If he wants someone that wants to do his books for nothing, then he is not worth having as a client.

[Barney]

Question #1. I am not familiar with the laws in Oregon.

Question #2. Why wouldn't you want to do data entry. It could possibly lead into doing their books. Sometimes you have to flex a little. Charge them an hourly rate to do the invoicing.

Question #3. If he hires a partime bookkeeper to do his books does he realize the overhead., i.e., payroll taxes, Worker's Comp. I think he may be wrong on this one.

I agree with your family about doing the books for nothing and you should not. But you may want to re-think since this is your first client. You may decide later what clients you can pick and choose and stop doing his invoicing/books when you have a list to choose from. It sounds like easy money to me.