Many accountants just limit their services to telling clients what happened.
Their services start and stop with preparing Tax Returns and Activity Statements. This would be OK if we lived life backwards, but we don’t.
Does a retrospective focus help a client who operates a business?
It does to the extent that they fulfil their statutory lodgement obligations.
It doesn’t help a business client learn ways to improve their business. We believe this is our role. We like to educate our clients to take advantage of opportunities and avoid pitfalls (hence why our quarterly newsletter is called Tips and Traps). We run seminars and workshops. We send reminders. We also use cutting edge software.
Traditional accounting packages don’t help either with limited this v last year style reporting.
Yes, our clients use Reckon (QuickBooks), MYOB and Xero. We however tailor it so that it better reports on their business so that they can better monitor and measure their business. We will also build tailored weekly, monthly and quarterly processing checklists for our clients as required.
We also use a variety of other cutting edge programs to assist our clients:-
- Business analysis software which will predict the outcome to your business from changing any key driver in your business. It will measure predict the result of raising or dropping prices, report on your business the same way your bank does, show how fast your business can grow before it runs out of cash (and what can be done to mitigate the reduced cash), and much more.
- Four way budgeting software. Whereas the business analysis software provides a bird’s eye view, the budgeting software works from the ground up.
Advanced tax and social security calculators.
- Software which will measure your business against the ATO’s mall business benchmarks.
- Loan and finance calculators.
- Salary packaging calculators.
- Fringe benefit calculators.
- Remote access software to enable us to efficiently work on your files and show you how to fix/rectify problems.
We happily pay for these advanced programs. The programmers have usually worked out all the scenarios. The output/reports tend to be clear to understand. We therefore rather not waste time re-inventing the wheel and get on with what our business clients need – guidance as to what they need to know and monitor.
If you would like to find out more how we service our clients, please click here.