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E-Myth – “Why most small businesses don’t work & what to do about it”

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Edmonton Small Business Accountant | Helping Accountants Work Efficiently

When Edmonton small business accountant offices bill their clients an hourly fee, they essentially have no reason to increase the efficiencies in their office. In fact, it is more beneficial to the accounting firm to slow down work, so that they can bill their clients a large bill every single month. However, this model is not beneficial to business owners, and it rewards or service. There is an accounting firm in Edmonton called Sperling Associates that are challenging the notion of building their clients on an hourly basis so that they do not reward slow service. In order to do that, they are implementing a flat monthly fee for every single one of their clients, and that bill never changes, no matter how much accounting is needed, no matter when.

The way that this Edmonton small business accountant office can ensure that they make money at this model, is by increasing the efficiencies in their office. One of the ways that they can do this, is by updating their technology. By having extremely fast computers, that can help the accountants in their office work very quickly. That can help them increase their efficiencies, that can allow them to get to work for their client done quickly, and then move onto the next customer. The computers that they utilize at Spurrell and Associates are to terabyte hard drives. Because of the amount of information that their clients send to their accountant every single month for example scans of every single invoice, every single receipts in every single bank statement, being able to have a lot of information stored on the computer is important. But an extremely large computer means nothing without it being very fast. Therefore this Edmonton small business accountant computer has a solid-state hard drive that plugs directly into the computer’s motherboard without needing a core. What this does is makes is incredibly large computer extremely fast at the same time. Accountants are able to work efficiently on the files, and then move onto the next task quickly.

Another way that this Edmonton small business accountant office is helping their accountants be even more efficient, is ensuring that every single accountant has three monitors to work from. The reason why this is so important, is because there are three components that are critical to efficiently doing accounting. Accountant needs to look at the report, their journal entries as well as the supporting documents that are showing why that journal entry needs to be made. The examples of these can be the bank statements or invoices from a client. Because there is three things that need to be viewed at any given time by an accountant, accountants that utilize three monitors can increase their productivity and astronomical amount.

By updating the technology in their accounting firm, they can ensure that they are working extremely efficiently for their clients, which means they do not need to charge an hourly rate, which can encourage them to work even faster. By utilizing this method in their business, Sperling Associates can help a large amount of clients as efficiently as possible.

Entrepreneurs often are not thinking of efficiencies when their thinking about their Edmonton small business accountant. In fact, they might think the exact opposite, because of how they bill. The longer they take the more there able to bill their clients. However, accounting firms that bill on a monthly flat fee, are able to increase the efficiencies in their accounting firm, which means they can help even more clients. One way that Sperling Associates is utilizing efficiencies in technology as well as workstations in thei business to help them maximize their efficiencies.

They have created these world-class workstations that allow for collaboration amongst accountants as well as extremely quick accounting. There workstations each have three computer monitors stacked on top of each other. These monitors are 42 inches large, and extremely high resolution: 4K resolution to be exact. The reason why this is important to have large and high-resolution monitors is so that this Edmonton small business accountant office can ensure that there maximizing the amount of information that can be seen on the screens. Since accountants are usually working with text and numbers, and need to have a lot of information on their screen at any given time, having a high-resolution monitor means that they can have text very very small while still being readable.

Another way that this accounting office is able to utilize technology in their accounting office, is by ensuring that these computer workstations are hooked up together in groups of three. For every one client, they are assigned an accountant team of two. These two accountants are actually accounting students who have completed their degree but need experience articling before they can achieve their designation. The third spot at their workstation of three is the chartered professional accountant who oversees their work. This way, clients not only get one accountant, they get to with someone else who is going to be checking their work. This way, entrepreneurs can be certain that they are getting their accounting work on efficiently, and accurately. It should also bring peace of mind to a entrepreneurs to ensure that even if they are paying a monthly fee, and one of their accountants goes on vacation, there somebody else who already is familiar with their file that can ensure that all the necessary accounting gets done efficiently and on time.

By utilizing this collaborative method of working, Edmonton small business accountant offices likes Burrell and Associates chartered professional accountants can ensure that they are increasing the efficiencies for their clients, and keeping their costs down so that they can afford to charge them a flat monthly fee. By doing this, entrepreneurs are not having to wait for an accountant to work slowly on their files, and then get a large bill to reward them for having patience.