Reply to: SJD Accountancy - returning to quality service standards?

[steveninsw1]

Just had terrible experience with SJD. Copy of what I just put up on trustpilot. Will see how long it stays up:

I've been a customer of theirs for 5 years. This year I'm closing my company. I started a perm role in March. I didn’t need the Ltd company from end March, but I was told I still had to pay £144 pounds a month until the FYE end August 2021 i.e. 5 * £144. I've also had to give them an extra £540 to submit final accounts, even although the past years £144 * 12 cover a company tax return. They also want me to pay £ 180 extra for my personal tax return because I missed "their" deadline of end of September, even although the official deadline is end of January 2022 (they still have three months to do it). I ended up doing the tax return myself even although it was included in the past 12 months £144 * 12 (it took me 30 mins)! SJD make you do your own book keeping, as opposed to other accountants who just ask for your bank statements and then do the necessary. In the past FY (since my last return) I have paid SJD a total of £ 2,281 for which I will receive one closing company year end for a very very simple set of accounts. Overall experience - I do not see any sound basis for them insisting I pay an additional £180 for a service that I have already paid for. My advice to any prospective clients - you will get far better service and more competitive rates with independents. I would not use SJD again or refer them.

[MPwannadecentincome]

I am currently billing in US Dollars - I just wait until an invoice gets paid before recording it in SJD then the Sterling amount is the value invoiced. This may or may not be the correct way of doing it (probably is not) but it's all I can be faffed with for now.

I basically use the HMRC average monthly exchange rate and retain the formulae in the sheet with the conversion to sterling for all invoices, receipts (I have a EUR account) and expenses. At year end my accountant strips all the EUR transactions out into another spreadsheet and does her magic and then declares foreign currency losses in the accounts as she used the yearly HMRC rate.

[Peoplesoft bloke]

As the portal could not cope with multiple currencies (I have done business in Euros in last contract)

I am currently billing in US Dollars - I just wait until an invoice gets paid before recording it in SJD then the Sterling amount is the value invoiced. This may or may not be the correct way of doing it (probably is not) but it's all I can be faffed with for now.

[MPwannadecentincome]

SJD don't use the spreadsheet now do they?

New clients of theirs are put onto the online portal and existing ones can migrate. As the portal could not cope with multiple currencies (I have done business in Euros in last contract) I opted to stay on the spreadsheet - the spreadsheet can't cope with multiple currencies either so I worked out a way to frig it with my last but one accountant and now my current accountant complains at year end that she has to sort out the mess.

I had great service with my first accountant she even came and visited on on-site to help me get setup when I started up the Ltd Co in 2013, since then it has been "variable" as 3 other accountants have taken over and yes the cost has gone up, I just never had enough go wrong to make it worthwhile switching "better the devil you know..."

[hairymouse]

Dunno about anyone else but I am with SJD and use the online portal.
It updates automatically from my bank account but I have to (not unreasonably) allocate transactions.

They upload details of my payroll (except for when the automation seems to forget every now and then) and VAT (the same) and then I have to chase them up to remind them.

They are, like all accountants and lawyers I have ever used, expensive, slow and occasionally wrong.

I'd move but I can't be arsed and I am not even sure I will be doing this much longer the way Covid IR35 etc has conspired to provide a perfect storm of crap.

NorthernLad, you asked me on another thread why I am still with SJD. Here's your answer, beautifully written. The only thing I would add is that I have been with them for many years and simply haven't had the same problems others have had. And the extra cost was not that much of a problem when the warchest balance was going up.

[Peoplesoft bloke]

SJD don't use the spreadsheet now do they?

Dunno about anyone else but I am with SJD and use the online portal.
It updates automatically from my bank account but I have to (not unreasonably) allocate transactions.

They upload details of my payroll (except for when the automation seems to forget every now and then) and VAT (the same) and then I have to chase them up to remind them.

They are, like all accountants and lawyers I have ever used, expensive, slow and occasionally wrong.

I'd move but I can't be arsed and I am not even sure I will be doing this much longer the way Covid IR35 etc has conspired to provide a perfect storm of crap.

[northernladuk]

Is there any significant difference entering into FA vs entering into the SJD XLS sheet?

Hmm guess not. More buttons to press I guess. Consolidating it against bank statement is extra and the like. . I just felt it was more work when I initially started with FA but quickly the benefits. Wouldnt go back now.

SJD don't use the spreadsheet now do they?

[MPwannadecentincome]

Just on that note. The bit about delegating to customers. I haven't been with SJD for 10 years but I was surprised when I swapped to FA that I was the one entering all the details in to FA. Some others have said the same and then questioned what the accountant actually does. They are cheaper for a start but it's much better managing your own FA as you are in more control. Just thought I'd mention that as you might find you'll do more of the work when you go FA.

That is if we are talking about the same day to day stuff.

Is there any significant difference entering into FA vs entering into the SJD XLS sheet?

[northernladuk]

SJD accountancy unprofessional services and dishonest commercial relationship
I have been using SJD accountancy services since 2014 until 2019. Disappointingly during this period, I have been exposed to a lack of professionalism, constructive changes and dishonest commercial relationship.
It has taken to 2 years to them to set up a direct debit
SJD has reduced the level of services, charge for services that were included in the package.
SJD has introduced penalties of 175 pounds for late self-assessments submissions and they don't send any reminder
SJD tends to delegate all work to their customers.
SJD hide the fact that they are regulated accountancy company. Check the complaint procedure no third parties involved.
AVOID IT.

Nothing new there. We've threads going back many years saying the same. You've not mentioned the cost going up regularly and being quite expensive compared to the competition. Lack of Freeagent as well.

Just on that note. The bit about delegating to customers. I haven't been with SJD for 10 years but I was surprised when I swapped to FA that I was the one entering all the details in to FA. Some others have said the same and then questioned what the accountant actually does. They are cheaper for a start but it's much better managing your own FA as you are in more control. Just thought I'd mention that as you might find you'll do more of the work when you go FA.

That is if we are talking about the same day to day stuff.

[Fred Bloggs]

SJD accountancy unprofessional services and dishonest commercial relationship
I have been using SJD accountancy services since 2014 until 2019. Disappointingly during this period, I have been exposed to a lack of professionalism, constructive changes and dishonest commercial relationship.
It has taken to 2 years to them to set up a direct debit
SJD has reduced the level of services, charge for services that were included in the package.
SJD has introduced penalties of 175 pounds for late self-assessments submissions and they don't send any reminder
SJD tends to delegate all work to their customers.
SJD hide the fact that they are regulated accountancy company. Check the complaint procedure no third parties involved.
AVOID IT.

Welcome to the world of faceless private equity investors. Imagine what it must be like working there. The only big winner was Mr Dolan who played an amazing hand over a spreadsheet, it seems to me.

[metalthor]

Do not hesitate to contact me for further information such emails as prove if evidenc

SJD accountancy unprofessional services and dishonest commercial relationship
I have been using SJD accountancy services since 2014 until 2019. Disappointingly during this period, I have been exposed to a lack of professionalism, constructive changes and dishonest commercial relationship.
It has taken to 2 years to them to set up a direct debit
SJD has reduced the level of services, charge for services that were included in the package.
SJD has introduced penalties of 175 pounds for late self-assessments submissions and they don't send any reminder
SJD tends to delegate all work to their customers.
SJD hide the fact that they are regulated accountancy company. Check the complaint procedure no third parties involved.
AVOID IT.

[metalthor]

SJD accountancy unprofessional services and dishonest commercial relationship

We've seen a lot of criticism about SJD accountancy recently. But have they turned the corner? If you look at trustpilot, they had some shocking reviews, but in the last month, they've had 47 consecutive four or five star reviews!! Time to re-evaluate and give them another chance?

SJD Accountancy Reviews | Read Customer Service Reviews of www.sjdaccountancy.com | 3 of 58

I have been using SJD accountancy services since 2014 until 2019. Disappointingly during this period, I have been exposed to a lack of professionalism, constructive changes and dishonest commercial relationship.
It has taken to 2 years to them to set up a direct debit
SJD has reduced the level of services, charge for services that were included in the package.
SJD has introduced penalties of 175 pounds for late self-assessments submissions and they don't send any reminder
SJD tends to delegate all work to their customers.
SJD hide the fact that they are regulated accountancy company. Check the complaint procedure no third parties involved.
AVOID IT
Do not hesitate to contact me for further information such emails as prove if evidence.

[mcat]

Unfortunately SDJ doesn't understand FRS or basic book keeping

Sad to see service levels have gone down as I had excellent service when I started in 2013 including the accountant coming to visit me.

Now it is very different, for example, it was 1 business day before payroll was due in April 2019 whenI was told the PAYE details... and that was after chasing. Being abroad I am not constantly online or even on 4G to get to business bank a/c to setup the transfer and I am with a stupid bank (that they recommended) who don't know what a fast transfer is. Also anything out of the ordinary isn't handled well. I am out of pocket on overseas personally spent expenses as I wasn't told until too late that the exchange rate on the accounts at year end is the only one that counts so the exchange rate I incurred and repaid myself against was "wrong". I never had that problem when I was employee. How am I supposed to know what the exchange rate is going to be at the year end when I want to claim it now? They are certainly not setup for multi-currency, they want me to keep 2 separate spreadsheets as I have a EUR account but that is impractical as I can't reconcile the total dividends I can safely withdraw. I have to constantly remind them to do my EU Sales Return.

I referred a friend to them a year ago when they started their Ltd Co and they are unhappy, it seems it was not properly explained how to use the online tool. I have stayed on the spreadsheet as I know how it works and nobody has convinced me the online tool will handle multi-currency. I think they have too many contractors and not enough people and for the service level I think it is expensive so will consider moving when I get to end of the year as hopefully by then I will be back to 1 currency.

Unfortunately, when it comes to foreign currency or capital gains, SJD are clueless and they will get it wrong. Worse, they will get it wrong in a way that will cost you significant money in unnecessary tax. They really dont understand FRS apart from the first chapter. They really dont understand the difference between revaluation and fx gain loss or how capital gains are worked out. They cant do basic double entry book keeping. They would have costed me over £16,000 in extra tax because of mistakes had i not spotted them. Luckily I know finance so i can do this but unfortunately others cant and they get fed bolx like you are.

You are doing it correctly and they are wrong. All your fx transactions should be recorded at the daily spot rate when the transaction occurs. This includes invoices issued, paid, cash paid in/out, expenses paid etc. When transactions get closed (ie, invoice settled) a fx gain/loss will be generated. You will be taxed on this. At year end, any open balances (unsettled invoices, euro bank accounts, etc) will be revalued at the yr end rate with a resulting revaluation gain/loss. You wont be taxed on this but it will appear in the accounts.

If it is just euro expenses you are paying yourself then these should just be recorded and converted at the rate on the day you make the expense "claim" and if not settling/paying immediately then the payment converted on the day you make it together with any FX gain/loss from when you made the claim. If there is an open balance at the end of the year (ie, you have claimed but not paid some of the euro expenses) then this balance would be revalued and appear on your financial statements (together with any revaluation gain/loss) but this will not affect what you get paid. Your payment will go at whatever the spot rate is on the day you make it and the gain/loss from the value when you made the claim recorded on your P&L affecting the profit you will be eventually taxed on. I hope that helps.

Accounting s/w will do all this automatically for you. Unfortunately, the SJD spreadsheet wont and you are relying in the accountant to do it properly instead. They won't, either through sheer incompetence or laziness. I haven't yet figured out which one applies to SJD but I am tending to think it is the first. Good luck.

[Jess inniAccounts]

Sad to see service levels have gone down as I had excellent service when I started in 2013 including the accountant coming to visit me.

Now it is very different, for example, it was 1 business day before payroll was due in April 2019 whenI was told the PAYE details... and that was after chasing. Being abroad I am not constantly online or even on 4G to get to business bank a/c to setup the transfer and I am with a stupid bank (that they recommended) who don't know what a fast transfer is. Also anything out of the ordinary isn't handled well. I am out of pocket on overseas personally spent expenses as I wasn't told until too late that the exchange rate on the accounts at year end is the only one that counts so the exchange rate I incurred and repaid myself against was "wrong". I never had that problem when I was employee. How am I supposed to know what the exchange rate is going to be at the year end when I want to claim it now? They are certainly not setup for multi-currency, they want me to keep 2 separate spreadsheets as I have a EUR account but that is impractical as I can't reconcile the total dividends I can safely withdraw. I have to constantly remind them to do my EU Sales Return.

I referred a friend to them a year ago when they started their Ltd Co and they are unhappy, it seems it was not properly explained how to use the online tool. I have stayed on the spreadsheet as I know how it works and nobody has convinced me the online tool will handle multi-currency. I think they have too many contractors and not enough people and for the service level I think it is expensive so will consider moving when I get to end of the year as hopefully by then I will be back to 1 currency.

I don't understand the exchange rate point, you should be converting the currency on the date of purchase to know how much to repay yourself (which I assume is what you've done and been told it's wrong?).

It's not difficult to support multi-currency, if the software works correctly. Are you being charged more for this?

[Mr.Whippy]

Not sure if they still have this SLA, if you don't get an answer within 1 working day they will return that month's fee.

No, they don't offer that anymore. Their promise is not as good as it once was. If they fail to meet their promise, the CEO will look into it and provide a response as to why. But, no money back.

I moved from SJD to Dolan after 8 or 9 years because the service level really did drop and I was also sick of the spreadsheet.... I couldn't be happier with FreeAgent and Dolan (who incidentally have the money back offering that SJD no longer have). The switch was seamlessly handled by Dolan with very little effort on my part.