Group: Normally for 3 or more individuals So, let’s discuss the TYPES of QuickBooks ® Training services:ġ. Shifts in business models from compliance to consulting (which is also a PRO).Clients tend to demand a more technical level of support from their accountant.Dealing with the internal issues of the company may require more emotional involvement from the accountant.Loosing billable bookkeeping/accounting work.Shifts in business models from compliance into consulting.Observing paperwork and transaction workflow to discover potential gaps in internal controls.Understanding how their computer systems are setup and what kind of opportunities there are to improve IT infrastructure.Observe interactions with multiple staff members, and getting an understanding of the company culture, which enables conversations about how financial strategies can affect the interworking of the business.Opportunity to gain an in-depth understanding of client’s operations.Now, what are the PRO’s to Accountants training their clients? If an accounting firm successfully trains their clients to do the data entry and bookkeeping accurately and timely, the amount of cleanup work gets significantly reduced, allowing for some of that labor budget work to be put to better use by focusing on higher perceived valued services such as consulting!
The bridge between “We do it for you” and “We help you make decisions” without breaking your client’s monthly accounting budget is TRAINING. Sounds simple, but, in reality, it’s a messy ordeal because most small business owners and their staff do not have formal accounting training, and generally place very little priority in accuracy and correct classification of transactions. So, the solution: Delegate the data entry and bookkeeping back to the client. This is what I call the “Service Level Evolution:” So, the issue at hand is that 80% of that budget is consumed doing data entry and bookkeeping, which has LOWEST PERCIEVED VALUE service from the small business owner’s perspective, leaving only 20% available for tax returns, financial statement interpretation and business planning/consulting, which has the HIGHEST PERCIEVED VALUE. Now, accounting firms have a labor budget (being the largest input cost) for every client based on what they are charging for their fees, which, for this example, we need to assume is the entire client’s budget. So, let’s assume that the average small business budget for monthly accounting services (including data entry, bookkeeping, payroll processing, sales tax processing, annual tax returns and general accounting/financial advice) is $500. Accountants are more and more prone to making the shift into the Trusted Advisor role however, most of my colleagues argue that although they WANT to do this, there are many factors getting in the way.
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