Empower Your Business

Accounting is Just the Beginning

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Slash Your Accountancy Fees

Fed up with high accountancy fees and not getting much in return? Slashing your accountancy fees is as easy as pie!

 Firstly and most importantly, make sure you get a fixed quote and don’t put up with hourly billing where you take all the risk and the accountant is actually rewarded for taking longer to complete the job. If your accountant says he or she can’t give you a fixed quote find one who can.

In addition, the following will all help to reduce your accountancy fees:

  • Be organised. If all the information your accountant needs to prepare your financials and tax return is easy-to-read, clear and well-arranged you won’t need to pay your accountant to sort it all out for you. Many’s the time that people who used to work for me used to go and hide when an unpopular messy job arrived in the office!

  • Supply all information required promptly and in full – accountants are not clairvoyants – and the biggest problem in accountancy is getting all the information we need to do the job.

  • Use accounting software – it’s now as cheap as with loads of additional benefits – customer database, invoicing to customers, aged accounts receivable etc all at the touch of a button.

  • Take an interest in your own affairs and show some enthusiasm – accountants are only human and will tend to reflect the interest you show.

  • Pay their bills on time, otherwise you will be relegated well down the client list and who knows, perhaps they will increase your fees to make up for the finance cost and hassle! If you know you can’t pay discuss the position in advance and make an arrangement.

  • Ask to pay in monthly instalments. Most accountants will give you a better deal in return for certainty and regularity of income.

  • Systems, systems, systems – are your bank accounts reconciled regularly, do you know who owes you money, who you owe money to, what you have in stock, what cash you will need next month or the month after?

  • Be nice to your accountant. It’s natural for them to try harder for someone they feel positive about. This can be just being pleasant, referring them.

  • Use an appropriate firm. Size is not necessarily a guide to costs but you don’t need an international firm if you have a small business in provincial NZ. On the other hand ensure the accountant has solid experience and is competent to do the job in hand.

In summation, make it easy for them not hard, as otherwise you will be the one who loses out in the longer term! If you need help to slash your accounting fees contact Nick on 0800 ASK NICK or email nick@abac.co.nz.

One Response to Slash Your Accountancy Fees

  1. Hello! Thanks a lot for the nice comment. Don’t forget that you can also suggest future topics if there is a articular area of business that you’re interested in or would like to know more about. We look forward to having you back 🙂