How do we keep such modest fixed fees without charging extra for every little task? (We do charge extra for non-standard tasks - setting up a new entity, changing accounting systems, changing shareholders, etc.)
We are your accountant on your team. If you have an accounting issue, it's our job to sort it. But to keep that working properly requires that we work together. There's always a learning curve - but that's our issue. If it continues to be an issue, then we need to deal with it. That's why the one client who would not change his ways is no longer a client.
Our accounting cycle is very simple.
- Complete questionnaires
- Review questionnaires
- Sign questionnaires
- Review accounting systems
- Amend accounting systems
- Produce accounts and tax returns
- Review accounts and tax returns
- Sign accounts and tax returns
- File tax returns
- Send reminders to pay as required
That sounds fairly standard, but lets expand a little.
Questionnaires are often regarded as trivial. They're not. The questionnaires are the basis for the job. If not done correctly, our liability for negligence is minimised (ergo your coverage is limited). There might seem a lot of irrelevant detail, but ours (done as spreadsheets) require minimal effort to complete - we don't rquire information already in your accounting system. There is one questionnaire per entity (person, company, trust, etc) but some entities have more than one part. Most commonly an individual may also be a sole trader, so they'll have two sections to complete.
Check the details on the acceptance page (signing is done later electronically), Then go to the questions page. This is the key. Read each question, If it applies to you, tick it. Usually there are only 2-3 ticks because we do NOT require anything on the questionnaire IF that is already in your accounting system.
Once you have completed the questions, it's simply a matter of going to the corresponding page (with the same number as the question) and completing it. Then send it back. We'll review it and send it through for digital signing. The whole process should take 5-10 minutes of your time (per questionnaire) - and the same on our part.