Quote: January was hell – and it was my own fault

By | 2011-02-20T11:56:57+00:00 February 20th, 2011|Pricing, Uncategorized|

An accountant I was chatting with recently made this astonishing admission. I have to admit I was surprised by his honesty and self awareness. Most accountants blame their clients for ignoring requests to produce their papers in good time to avoid a last minute rush before the 31 January filing deadline for personal tax returns.

Billing attitudes to quicky items of advice

By | 2011-01-07T10:02:08+00:00 January 7th, 2011|Pricing|

The Tax Advice Network includes a private forum area where the tax adviser members can discuss and share ideas and issues. No one else can see or take part. A recent discussion concerned how different tax advisers deal with calls that only take 10 or 15 minutes.  A number of different views were expressed. My

Who bears the cost of new efiling rules?

By | 2010-08-11T10:49:42+00:00 August 11th, 2010|Pricing, Uncategorized|

As software evolves to meet new legislative requirements so accountants assume this will be built into the price they pay for their software. There is little prospect of accountants asking clients to pay extra - or of them securing additional fees if they did ask! Equally, accountants will not willingly pay extra for updates of

Lessons for accountants from….dentists

By | 2010-05-10T15:40:02+00:00 May 10th, 2010|Accountants, Pricing|

A number of people have mentioned in conversation recently how much it costs to go to the dentist.  In each case their dentists are getting close to retirement and their longstanding patients are stating to look for someone new. The patients are shocked at how much more they have to pay their new dentist. Their

5 ways that Accountants can make more profits

By | 2010-04-12T18:11:33+00:00 April 12th, 2010|Pricing|

There are essentially just five basic approaches to making more profits as an accountant in practice: Increase your charges – for doing the same work you have always done. This requires you to increase the perceived value of what you do Speed up collection of your fees and so reduce your capital requirements and interest

Easyjet pricing by accountants

By | 2008-12-05T16:26:29+00:00 December 5th, 2008|Accountants, Pricing|

Anyone who has heard me speak recently will recall my encouragement to review the way in which fees are set. I've also posted numerous previous items on this subject.  A summary and link to them all is included in this one: Negotiating fees when times are tough. I've just had a call from an accountant who

Negotiating fees when times are tough

By | 2018-07-05T10:15:10+00:00 October 12th, 2008|Accountants, Pricing|

I've written a number of previous posts on related subjects and thought it would be useful to provide a one stop link to each of them: I think there are 4 different scenarios where it may be necessary to negotiate fees for your services: The annual fees you charge to existing clients; The additional

Setting fee rates – using costs incurred or value provided?

By | 2008-09-17T23:08:13+00:00 September 17th, 2008|Pricing|

Pricing the work that we do for clients is never easy.  When I worked for larger firms many years ago fees were determined by reference to 'costs on the clock' - ie: the aggregate of staff and partner time costs as measured by timesheets.  Charge out rates were commonly set at about three times the

How to quickly lose your newest clients

By | 2007-04-19T17:27:49+00:00 April 19th, 2007|Pricing, Uncategorized|

Some years ago I read an article that highlights six things that happen all too often when anyone focuses their energy on trying to win new clients at the expense of managing the relationship with newly won clients. The author explained how easy it is to fall into each of these six traps: Once you sign