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Edmonton Tax Accountant | Flat Monthly Accounting Fees For Entrepreneurs

In order to be able to provide a higher level of service to their customers, this Edmonton tax accountant firm changed the way they invoice their clients, and behind the typical are really bills that accountants typically charge, in favour of a flat monthly fee. They found that this was positive for businesses in several ways, and has significantly impacted their accounting firm. They get many questions about this billing structure, mostly because it is so unusual. Here are the most commonly asked questions that they get about this flat monthly fee.

One of the three types of clients they take on? Is Edmonton tax accountant says that they deal with business clients, and those three types of clients they deal with our annual corporate clients, who need help with their fiscal year end and filing, as well as business planning and tax planning. They also have unincorporated businesses, who while he do not need year end corporate filing, they do need tax advice and business planning. And they also have outsourced clients, where they act as the accounting department for these companies, doing their payables as well as payroll, and meeting monthly with the owners in order to discuss performance, numbers and strategizing on how to move their business forward.

The next question that they get asked is how are all of these clients build? Edmonton tax accountant says that regardless of the type of client that they are, or how much work that is required every month, they get charged a recurring flat monthly fee every single month. It is the same amount and it never changes month to month.

The third question they get asked about this pricing structure is do they charge anything additional for business plans, tax plans or financial plans? The answer to this question is absolutely not, because they did not want to have their clients choose between having to pay additional fees and getting the service that they need. The entire point of moving to this flat monthly fee was so that they could provide their clients all of the services that they truly needed, without penalizing them with a higher bill. They also understand that the clients that have the biggest need for those types of services are the clients that are most likely to be unable to pay for those services. In order to impact the success of their clients, this Edmonton tax accountant decided to include every single service that they offer in their monthly fee, so that they could directly impact the success of every single one of their clients.

By changing the way they invoice their clients, they could enable their clients to get all of the help that they need, regardless of what it is. They also discovered that clients that were billed hourly tended to avoid talking to their accountant regularly, because they were worried about creating a larger accounting bill at the end of the month. By moving away from that pricing structure, they were able to work more collaboratively with their clients.

Edmonton Tax Accountant | Flat Monthly Accounting Fees For Entrepreneurs

even though the typical Edmonton tax accountant bills their clients on an hourly pricing structure, enabling them to charge a higher fee for every hour they work on their clients files, Spurrell and Associates decided to move away from that pricing structure towards a flat monthly fee. What they discovered with this was they were able to have a more collaborative working relationship with their clients, as well as significantly impact their ability to succeed in business. Since 50% of all entrepreneurs fail within the first five years of owing a business, this Edmonton tax accountant wanted to significantly impact that and help entrepreneurs beat the odds of that statistic.

By giving any of the services that they offer to their clients at the same monthly price, the Edmonton tax accountant at Spurrell and Associates were ensuring that there investing on their clients in order to increase their success and create return and repeat clients. Since all accounting firms make most of their money on clients that are repeat, by investing significantly in their clients and increasing their chances of success, there creating an entire client base of return and repeat clients.

This also meant that there able to save significant amounts of time that they would spend billing clients and then answering questions about those bills. Because each bills unique to the amount of work that each accountant was working on that clients file, the invoicing took an extremely large amount of time, as did answering all the questions that clients inevitably had when they received a bill that they were not prepared for. By moving to this monthly flat fee, they can invoice all their clients the same invoice every single month, saving significant amounts of time on creating the invoices, but because no clients get surprised with the bill, they do not have to end up answering endless questions about that bill, saving up to five weeks every single year and time savings.

By saving over five weeks every year of time on billing, that can allow this Edmonton tax accountant and Berlin Associates to better service their clients as well as allocate resources even better. Because there able to predict exactly how much revenue they are getting every month, and how many hours it takes to serve as a clients every month, there able to calculate how many clients they can bring on in order to provide the same level of service. Being able to smooth the revenue, and calculate how many clients they can bring on, they can be sure there are delivering the high level of service to everyone of their clients that they need.

By moving away from an hourly billing to a flat monthly fee, they are able to significantly impact their own business, and most significantly impact the ability to succeed of their clients. By offering them the services that they need instead of the services they can work, there able to ensure that their clients are more successful into the future.