Pricing…we are Champions
When it comes to pricing, every client is different, there are several variables to consider, from the size and complexity of your business to the number of employees, volume of transactions, the quality of your record keeping, and the levels of service required. Truly understanding what you need is important, as it affects the price and the complexity of the work, we will do for you. There is more later on the 7 steps to pricing a Finance A Team, to provide more clarity and transparency on how we do this.
[1] Where does it start… the Discovery Call
Whenever a prospective client gets in touch with us, we invite them to take part in a Discovery Call. This is a simple 15-minute phone call which enables us to find out more information about you and your business and most importantly, to find out if we are a good fit for each other. For example, we don’t work with Partnerships, Charities or Trusts, but we do specialise in Owner Managed Business, Innovative Start Ups and Professional Services. If a prospective client from one of these areas was to join us, our expertise in these areas mean we would be able to deliver value for these clients from day 1. It also helps us to understand what your future goals are versus where your business is headed, so we can determine how we can support you achieving these goals.
If we’re not a good fit, then we can refer you onto a partner practice who we know will look after you. But, if we do think this is the start of a great relationship, you’ll be invited to a follow up proposal meeting for a more detailed conversation about you and your business.
If you are interested in arranging a Discovery Call please get in touch today!
[2] The Proposal Meeting
Together we’ll go through a consultation process known as the GLOSS method. This is designed to uncover your goals and define where you want to get to, where you are now, the obstacles you are facing, the speed you want to move at. We’ll discuss your specific needs and, if appropriate, produce a tailor-made package of services accordingly. We can build a proposal for you there and then…No waiting. No guessing. No hassle!
Our pricing policy is clear and easy to understand with all fees reflecting the value of our advice and the quality of our service.
As a member of the GoProposal community, we believe in having consistent, clear, transparent pricing across all of our clients, so you know exactly what you’re going to have to pay, you know exactly what you’re getting and we do this collaboratively.
We’re champions of this as we have a structured, transparent, framework for pricing, never hitting you with surprise bills throughout the year and negatively impacting your cashflow. We are not prepared to do that as we value the relationship with our clients too much. Let’s work together.
Pricing: 7 steps to pricing a Finance A-Team…is is how we do it!!!
1. Identify what support you need from us
We offer a comprehensive range of tax and accountancy services from start-up to ongoing business development, accounts, tax, bookkeeping, payroll and VAT advice. In the first instance, we’ll discuss your business goals, plans for growth and any business issues you are facing to help select the services you need from us.
2. Scale and Complexity
The scale and complexity of your business will indicate the level of resource we need to dedicate to you. We look at your turnover and the number of sales invoices raised to give an indication of this.
3. Transaction Volumes
We charge per transaction for bookkeeping work, so we will look at the number of purchase invoices that need processing and the number of bank transactions that need reconciling. Looking at the number of transactions from the previous quarter is used to estimate this.
4. Frequency of Service
Some services, such as VAT, Payroll, Management Accounts and Business Performance reviews, are offered as either monthly or quarterly services. The frequency you choose will affect the price.
5. No. of employees
Our payroll fees firstly depend on how many employees you have. The incremental cost of each additional employee reduces as your staff numbers grow. We’ll also factor in whether the payroll amounts are fixed or variable amounts of pay. Variable pay requires more resource from us.
6. Quality of Records
It’s straightforward, our fees for preparing a set of accounts where the records are “Excellent” will be lower than those that “Need a lot of work”. When we can work with a well-maintained set of accounts, we can deliver the service and value you signed up for straightaway. If a lot of work is needed to bring the accounts up to spec, then we factor this into our quote.
7. Software Subscriptions
All our clients are use Xero accounting software and we include this subscription in your fees.
Fee Reviews
Fees for Annual Accounts and Tax work are reviewed annually in line with your year-end. We review your bookkeeping transactions and employee numbers quarterly and adjust our fees as necessary.
What if your circumstances change?
Don’t worry, you’re not locked in. We appreciate things can change and you may need to increase or decrease the level of support required from us. We’re happy to make changes your service plan as you go. We just need 30 days’ notice of any change.
Ready to chat about your business?
If you’ve read this far and you like the sound of us, get in touch and we will be very happy to talk to you about your business.