Miami Accountant Demonstrates Their Value to Clients
How Miami Accountant Used To BillThe practice of tracking time by Miami Accountants and CPAs – and the role that time plays in pricing services and making billing decisions – has been the subject of endless discussion. It’s probably fair to say that when it comes to some mainline compliance services like tax returns, most firms have transitioned beyond billing for time only. They’ve shifted to a billing method based on a combination of factors, with prior year billing and the number of forms involved taking precedence over the smaller factor of time investment. Usually, a shift like this is internal to an accounting firm. By staying relatively close to prior year billings, they can raise some of their fees and avoid the “Why?” conversations with clients. Tax and accounting professionals know that their skills and the importance of the work they do for clients justify their fees. But clients frequently struggle to understand the charges on their accountant’s billings because they fail to grasp the true value of the services provided. And when that happens, those services become a simple commodity. Clients won’t hesitate to shop around in an effort to find the best price, just as they would with any other commodity.
How Miami Accountants demonstrate value to clientsMany CPA firms have discovered that the issue isn’t necessarily solved in the words of communication. Instead, they’re finding that the answer is in the medium of communication – rather than merely telling their clients about their value, they illustrate their value. Think of it this way: When clients purchase a tangible item – furniture, a car, a house – they can see the item, touch it, and make a value judgment by comparing the raw materials with their costs. But since the raw materials of accounting services are only visible by taking an x-ray of an accountant’s head, CPAs must work to find a way to visually present the value of their services. While there are many choices for creating a visual, ultimately it will likely be reflected in one (or even both) of these areas:
- Impact on the client’s bottom line
- Opportunity cost
Accountants get paid to avoid paying excessive fees, but not so much about CPA. How do you know if you are being well represented or simply wasting your money?
Ask a room full of Miami Accountants they have thought about business planning, and most will say yes
Today about 75% of Miami Accountant firm clients pay a flat monthly fee versus hourly