pricing, fees & billing rates

cpa billing rates rise at 6.5% pace

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the mark tops six months of steady growth.

line chart
overall pricing at cpa firms, year over year

by beth bellor
卡塔尔世界杯常规比赛时间 research

pricing at cpa firms has been growing for the past six months, according to a new 卡塔尔世界杯常规比赛时间 study, and the numbers are worth noting. august was the first year-over-year hike of over 5 percent, at 5.1 percent. from there, it hopped to 5.5 percent in september, 6.3 percent in october and 6.5 percent in november.

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financial auditing at cpa firms was slightly behind, with annual differences of 4.9 percent in september, 5.5 percent in october and 5.9 percent in november.
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yes, you can work less and make more

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erik solbakken: build the firm of your dreams.

 

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the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

q: why did the accountant cross the road?

a: because they did it last year.

erik solbakken, a.k.a. “the heavy metal cpa,” is on a mission to free accountants from an oppressive business model. solbakken spent 18 years working his way up to be a partner in a firm in canada, but when the partnership fell apart, he was liberated to create a new kind of firm, where he and his staff never worked overtime and he made more money. today, he acts as the guide he wishes he’d had when he started out, empowering accountants to create firms they love working in.

more: donny shimamoto: future firm growth requires a mindshift | jennifer wilson: empower young workers to build the firm everyone loves | mike whitmire: re-think your hiring and training practices | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

how do you get away from the commoditization trap? simple, deliver to the client the transformation that they want for themselves.

solbakken said the profession has brainwashed us into believing three lies:

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18 ways to boost billings and collections

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happy hispanic businesswoman making a gesture of successdaily timesheets, change orders and other ways to ease your load.

by august j. aquila
price it right: how to value accounting services

is the phrase “effective billing philosophy” an oxymoron? i’m beginning to believe that it is. analysis of the results of current billing and collection procedures and policies reveals that, for the most part, they aren’t working very well.

more: get clients to accept your new pricing philosophy | getting partners to accept a new pricing philosophy | ethics question: commissions and contingencies | how competitors drive pricing | what we know about pricing strategies | when hourly billing hurts profits
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the fact is, they have not worked well for decades. while it is true that most firms have some sort of billing procedure and some even have a billing philosophy that is taught to each new biller, the fact is they are seldom followed. hence, very few firms have an effective billing and collection philosophy.
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ed kless: clients don’t want outputs. they want outcomes

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the disruptors: too busy? raise your prices.

 

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr for 卡塔尔世界杯常规比赛时间

what do clients – or, as ed kless prefers, customers – want from their accountants? it’s not the tax return or the financial statement but the outcome for the customer, which is most often peace of mind.

to remain relevant in disruptions like online tax preparation and automated bookkeeping tech firms like pilot, accountants need to consider other ancillary services they can provide above and beyond those basic services.

more:  seth fineberg: your classic business model won’t allow growth | hector garcia: success strategies of a quickbooks youtube superstar | blake oliver: why tax work yearns to be free| private equity explodes in u.k. | brannon poe: the status quo must go  | accounting nerds, unlock your super powers  | disruptor: jason statts shakes up the status quo | think small to think big with matt wilkinson | when financial statements go extinct with corey schmidt | can geraldine carter save accountants from themselves? | re-inventing accounting with tyler anderson

goprocpa.com exclusively for pro members. log in here or 2022世界杯足球排名 today.

“when you bill by the hour, when you have to measure your time, and when you tell the customer, ‘pay attention to my efficiency because that’s what i’m going to charge you,’ then they start looking at your efficiency instead of your effectiveness, which is the wrong thing to be looking at,” kless explained.

additionally, kless said cpas who are “too busy” need to raise their fees.

he said, “one of the mantras in pricing is innovating for growth, pricing for profit. when an organization wants to grow, the focus has to be on innovating, creating new things to offer, not necessarily what we used to be called rainmaking, which is getting more customers.”

kless maintains that accountants or cpas should strive to be the first person called, no matter what the customer wants, whether it’s super bowl tickets or a recommendation for the best medical team in an emergency. but experimenting with adding additional services or converting to a subscription-based business model will not be possible for firms that remain wedded to the timesheet, which, kess said, quoting ron baker, is cancer of the accounting profession.

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get clients to accept your new pricing philosophy

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hand moving triangle along beam to indicate balance between price and valuea client who does not contribute to your bottom line is not a client.

by august j. aquila

once your partners are sold on the new pricing philosophy, you will need to communicate it to your clients. there are five ways to get clients to understand and accept the new pricing methods. each of these methods is discussed below.

more: getting partners to accept a new pricing philosophy | when to use 11 alternative pricing methods | make the value curve work for you | how to leverage demand in your pricing | make the most of your marketing mix
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believe that clients will accept a new pricing method: if you don’t believe it, you can be sure that your clients won’t either. it is not unusual for physicians, stockbrokers and attorneys to change billing methods. actually, most of your clients will understand what you are doing if you clearly communicate with them. there is a truism that good client relationships are based on trust. the clients trust that you will do the right thing for them. if they lack this trust, no matter what pricing method you employ, you will have problems with your client.
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