Fixed Fee Accounting Service – What are the Benefits?
When choosing an accountant for your small business there are many factors to consider. You will want to make sure that they are experienced and have a good local reputation, amongst other things. However, one of the most essential factors you need to take into account is how you are going to pay for the service. Read on to find out why fixed fee accounting has so much to recommend it.
If you don’t opt for a fixed fee accounting service there is always the risk that you could end up facing a higher than expected bill. Especially with a new business it can be difficult to predict just how much of your accountant’s time and effort you will require and it can be difficult to manage. If you choose a fixed fee accountancy service you know exactly what you are going to be paying. There are no surprises. This allows you to manage your finances much more effectively, which is vital for any business.
Most accountants will offer a range of fixed fee packages to suit all types of businesses. This ensures that the service can still be flexible enough for a variety of different requirements and that you can choose a plan that is perfectly suited to your business.
What can fixed fee accountants do for your business?
Of course the financial benefits are obvious. You can be sure of no hidden costs and you can streamline your cash flow effectively. Nevertheless, the advantages extend beyond just controlling costs.
You are also likely to benefit from much greater value although this will depend on the actual package you choose. However, in some cases, an accountant will always be on hand to answer your questions and your business will have on-going support instead of just a few meetings a year. This gives you the platform to operate much more efficiently. You have the peace of mind that all of your accounting commitments are taken care of so you can focus on the core of your company, i.e. what makes you a profit.
By choosing Tuchbands, who are a firm of accountants in north London, you will have a dedicated chartered accountant who will handle everything for you; you will receive a personal service throughout the year from the same accountant who will come to understand your business thoroughly.
If you are considering such a service you should make sure you check exactly what is included in the package. There may be some extra expenses in some instances and, therefore, it’s vital to know in detail what you are getting for your money and to choose the package that best suits your needs. If you think you may require some additional help beyond what is included in the package then enquire about the cost of these additional services.
Looking for fixed fee accountants?
It is not difficult to see why so many people are opting for fixed fee accountancy services. Why not contact the Tuchbands team and find out how we can help your business manage its costs more efficiently. Call us now on 020 8458 8727
Is it really beneficial though?
I am able to understand the benefits when you are a start up business as you will need more support, however, I am questioning whether for an established business if it is beneficial. I think fundamentally you have to see if it would benefit your business in the long term as it depends on the workload you have for your accountant. For example if there are months where work is limited then paying a fixed rate may not benefit your business financially in comparison to other business who constantly have to pay a high fee to their accounts.