It might be slightly embarrassed going back to a client and asking for more money, especially if we’ve already given them a figure. But it’s crucial if you’re going to be profitable.
After looking under the bonnet of their books, there’s sometimes way more work involved than you originally anticipated.
In this case you NEED to recalibrate the fee.
You’ve got to hold your hands up and say “we’ve got this all wrong, we should have spent more time figuring this out”.
This honest conversation is going to be hard, but you’ll thank yourself later down the line.
When speaking to a group of bookkeepers, this question popped up. Watch this video to hear what I’d do.