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

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Edmonton Tax Accountant | How Flat Monthly Accounting Fees Work

The way that typical Edmonton tax accountant firmís bill their clients, is for every hour that they are working on their finances, they bill an hourly fee. If they end up getting additional service done such as tax planning or business planning, it often is more hourly charges, or even a high flat rate that entrepreneurs need to pay in order to get the service done. This creates lots of trust issues between accountants and their clients, because clients would end up wondering if their accountant is suggesting these additional services like business planning and tax planning because they truly needed it, or if it was because their accountant needed to increase the amount that they were billing. In addition to that, clients would tend to wonder if their clients were working as quickly as they were able to on their finances, or if they were taking additional time in order to increase their bills. Clients would hesitate reaching out to their accountant when they truly needed it, out of fear of getting a higher bill.

There is 1 Edmonton Tax Accountant Firm in Edmonton that is changing the way they invoice, so that they can restore the balance between an accountant and their clients. By moving away from the typical hourly charge that most accountants bill out for, Spurrell and Associates have actually successfully implemented a flat monthly fee for every single client that they have. What this does is creates a predictable bill for their clients that is not only easy to budget for, they can easily plan their cash flow around this consistent bill. It also ensures that because there is no additional prices, every time one of their clients needs to talk to an accountant or have a meeting for any reason it is not going to cost them any additional fees.

Spurrell and Associates have three different types of clients and all get charged this same flat monthly fee. There are the outsourced clients that utilize at Spurrell and Associates as their outsourced accounting firms. They get payroll, account payables, and monthly strategy meetings as well as the typical year end filing, tax plan and business planning. They also have their corporate clients that they do their fiscal year end as well as their corporate filing, tax planning as well as business planning all-inclusive. The third type of client is the less common unincorporated businesses. Even though there is no corporate filing to be done, they still need to get business and tax planning done. All three of those types of clients no matter how big or small they are get charged the same flat monthly fee. The reason they decided to go with this flat monthly fee at this Edmonton tax accountant firm, is so that it evens the playing field for all businesses, Edmonton enables them to get additional services for no additional prices.

Since industry Canada says half of all entrepreneurs in Canada fail within the first five years, significantly impacting the ability to succeed is having a business plan. Studies have shown that businesses with a business plan are 50% more likely to grow their revenue seeing as how running out of money is one of the top three reasons why businesses fail, creating a business plan can significantly impact the success of entrepreneurs.

Edmonton Tax Accountant | How Flat Monthly Accounting Fees Work

The Edmonton tax accountant Spurrell and Associates are changing the way accountants do business in Edmonton, because they have moved away from the typical hourly billing cycle and implemented flat monthly fees for every one of their clients. The reason why they have done this, is because they wanted to be able to create a consistent bill for their clients is to make it easier for them to plan and budget that bill. In addition, it enabled clients to get that more services that would benefit them without fear of having a higher bill. One of the reasons why clients would hesitate to talk to their accountant when they absolutely needed to, is because they were afraid of getting a higher monthly bill for every time they spoke to their accountant. By eliminating that fear, Spurrell and Associates put the clients back in charge of being able to contact their accountant when they need help,

not only did that enable their clients to be able to have an invoice that they were able to budget for and manage their cash flow around, but it also meant that it was allowing the Edmonton tax accountant Spurrell and Associates to be able to predict the income that they were bringing in which allowed them to allocate their resources on a regular basis. Since they are able to predict how much revenue is coming into their business, and they know how many times a corporate client comes in and calls on a monthly basis, there able to calculate how many more clients there able to take on based on the resources that they have. This means they can bring on new clients whenever they want, ensuring that they are going to be able to provide their new clients as well as their old clients the same product and service that they are used to.

Another reason that this is extremely beneficial, is because if entrepreneurs need business plans, in order to succeed, they can get those business plans for no additional prices. Spurrell and Associates that the reason why this is extremely important, is because when they absolutely need those business plans to impact their business in order to succeed, the last thing that they need is to worry about not being able to pay for it and turning it down. When entrepreneurs turn down adding a business plan because they cannot afford it, they are actually impacting their business negatively because they will be less likely to succeed especially if they are already struggling.

Edmonton tax accountant Spurrell and Associatesís significantly impacting the success of entrepreneurs by ensuring they can get the services they need to succeed and avoid the reasons that typical businesses have failed.