Local businesses should always be on the lookout to partner with professionals who can do parts of the heavy lifting.
Rather than being stretched for resources and attempting to run everything in-house for the sake of control, there are services who can step into the breach and find affordable solutions.
One of those resources can be identified through fixed fee accountants, financial experts who represent the business community on fixed contract terms.
There are many benefits to partnering with these organisations, but we will explore 5 of the best advantages to demonstrate their value.
1) No Surprise Representation
The good news for local businesses that use the services of fixed fee accountants is that they are never caught off guard by hidden fees or charges. The package is established and written in black and white, often designed on a per monthly basis. There is no increase or change in this respect and the owner or manager of the business understands that they have a diligent eye on all of their financial deals that is geared towards their best interests. That level of reliability is hard to obtain through any other method.
2) Flexible Arrangements At Hand
While fixed fee accountants are designed to remove surprises from the equation, that does not mean that there is no flexibility with their services. From as little as $200-$250 a month, local enterprises are able to cater to all of their annual tax return duties, work from a general tax plan and offering consulting services to the bookkeeper. This is a service that can be upgraded to upwards of $1,500-$2,000 a month whereby clients can engage in meetings, receive reports and strategise with insights and roadmaps for their commercial enterprise.
3) Regular Attention to Business Financial Matters
By locking into a service with fixed fee accountants, local businesses are bringing aboard specialists who place regular attention on the financial matters of the organisation. From the tax returns and debts that the entity is responsible for to the compliance reports, cash flow assessments and growth forecasting, they keep a close eye on incomings and outgoings at all junctures. The greater the investment from the client, the closer the scrutiny and the better the insight from the accountants.
4) Modern Accounting Practices
In 2020, the use of fixed fee accountants becomes particularly advantageous when considering the modern tools that these specialists will work with. Rather than going through traditional accounting practices where paperwork is filed and weeks on the calendar go by without a development, they will leverage cloud-based applications that assesses and reports on financial data in real-time. Passing this information onto the bookkeeping department will improve their day-to-day operations while addressing any concerns promptly and efficiently. No more backlogging and no more unnecessary delays for the client with these inventive digital tools.
5) Free Opening Consultation
To establish trust and to get the ball rolling with fixed fee accountants, these specialists will often open their doors to constituents for a free opening consultation. Without any obligations attached to the talks, this is a way of outlining key business goals and targets while answering client questions in real-time. Once this discussion is completed, they can outline an estimate and continue the dialogue with the potential client to see where they are placed.
Instead of being left stressed and disappointed with a firm that bills hour to hour without any idea of budget control, the use of fixed fee accountants helps to put those issues to rest. Their expertise and experience can be leveraged without feeling shortchanged or kept in the dark through a lack of transparency. Business owners are well-advised to find a local and reputable outlet who caters to this need.