Why Your Accountant is So Expensive! - PowerPoint PPT Presentation

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Why Your Accountant is So Expensive!


Why Your Accountant is So Expensive? Have you ever wondered why your accountant charges so much even though you're paying a bookkeeper? Call iKeep Today! – PowerPoint PPT presentation

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Title: Why Your Accountant is So Expensive!

Why Your Accountant is So Expensive!
  • Have you ever wondered why your accountant
    charges so much even though you're paying a
    bookkeeper? Your accountant doesnt even pretend
    to be grateful that youve made life so easy in
    fact, theyre on a permanent war footing with
    your bookkeeper.
  • Your accountant says its your bookkeepers fault
    that your accounting costs arent falling. Your
    bookkeeper says she doesnt know what the
    accountant could be talking about. Shes
    diligently entered all the data, youve watched
    her do it every month. It cant possibly be her.

  • Except it can. And in 90 percent of cases, it is.
  • We know thats a hard truth to face. Youve known
    your bookkeeper for so long you cant remember
    when she started. She comes to the office every
    month and chops down that pile of unentered
    receipts and invoices. Things only get more than
    a few weeksa month at mostbehind when shes on
    holiday or one of the kids is sick. But shes
    like a friend. You and your staff have coffee
    with her, you know about her family, shes come
    to the Christmas party.

  • You probably cant say the same about your
  • And because your life got easier when someone
    else started dealing with that mountain of
    paperwork and data entry, youve probably never
    asked whether your bookkeeper has any
    qualifications. She advertised herself as a
    bookkeeper, you liked her, you booked her to come
    in once a month, the paper mountain got smaller,
    and shes been coming ever since.
  • But theres no mandatory training for
    bookkeepers. Anyone can set up a bookkeeping
    business, and its attractive be your own boss,
    flexible work you can fit around other

  • What you dont see, your accountant does.
    Unqualified bookkeepers make mistakes that are
    time-consuming (therefore expensive) to fix. Your
    books have to be gone through with a fine-tooth
    comb because theyre full of mistakes. You think
    youre sending your accountant clean records that
    should take half an hour to tick off. What your
    accountant sees is still a shoe box of receipts,
    its just not in paper form. And that virtual
    shoe box needs to be unpacked and re-sorted.
  • That extra accounting expense is just the visible
    cost. The invisible cost is that you could have a
    much better view of your business, information
    you can use to make decisions.

  • In business, visibility means financial
    visibility. When you know your financials, you
    can make informed decisions. And when you need to
    make crucial decisions ever more frequently, that
    means knowing your financials to the day, not the
    month. Relying on months-old financial
    information is like trying to drive forwards
    using the rear-view mirror.
  • When your bookkeeper drops by monthly to do data
    entry, your books are at least that much out of
    date. Not that it matters how recent they are if
    theyre not accurate in the first place.

  • It might always have been like this, but it
    doesnt have to be. With cloud-based systems and
    automated data entry, your books can be almost
    up-to-the-minute. And when qualified BAS and tax
    agents are preparing your books, supervised by
    managers who are themselves accountants, your
    bookkeeper and your existing accountant can work

  • Bookkeepers and accountants being at war is a
    common circumstance, but it isnt inevitable. If
    accountants wanted to do bookkeeping, theyd have
    bookkeepers on staff and try to persuade you to
    use them. If bookkeepers wanted to be
    accountants, they could take the training and
    qualify. So if your accountant has a problem with
    your bookkeeper, theres likely something to it.

  • In our experience, when accountants don't have to
    clean up books that are supposedly already clean,
    they save about 30 percent of their time.
  • Your natural instinct might be to find a
    qualified bookkeeper who will work seamlessly
    with your accountantthats usand use it to
    negotiate a reduction in your accountants fees.
    Weve also seen, however, has been that the real
    benefit unlocked by getting your books
    up-to-the-minute and accurate is that you can
    take your relationship with your accountant up a

  • Your accountant can use the time to liaise with
    your bookkeeper without adding to your bill. And
    more importantly, your accountant will have time
    to work with you on your business. Instead of
    wasting time (and your money) double-checking
    what should have been done right in the first
    place, your accountant can be helping you improve
    the vital statistics of your business (like
    cashflow) and advising you on achieving your
    vision for the business.

  • If that vision is to have a modern, competitive
    business, then you need to be working with
    suppliers and advisors who are modern and
    competitive. When it comes to bookkeeping, that
  • Showing a professional commitment to their work
    by getting qualified
  • Being managed by qualified accountants

  • Practising what they preach when it comes to
    following processes that make sense today, not
    processes that worked 10 years ago
  • If that sounds like the way youd like your
    bookkeeper to work, call us today!
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