pricing rates

updated: accountants critical of competitor price-cutting

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the average firm may be trimming billing rate increases. but 卡塔尔世界杯常规比赛时间 readers aren’t average.

cpa firm price increases slowed to a month-to-month increase of 0.4 percent in november, down from a 3.1 percent in september, and a fraction of the year-ago 1.9 percent hike. the picture in tax prep is even dimmer, with month-to-month slowdowns and year-to-year declines.

 

lohrey
ayster: not afraid to raise rates

by 卡塔尔世界杯常规比赛时间 research

heading into tax season, cpa firms may be facing new pricing pressures, even as wages and consumer prices increase at record rates, according to a 卡塔尔世界杯常规比赛时间 study of new government economic data.

what are today’s best pricing strategies?
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to be sure, many 卡塔尔世界杯常规比赛时间 members responding to our survey are resisting the pressures, and plan on pushing ahead with price increases.

more surveys & research: sales & use tax costs are higher than anyone thought | are you under-pricing your client accounting services? | survey: nobody loves the wayfair decision | survey: worries for small business clients | busy season forecast: more chaos | salt: the small business disaster waiting to happen

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

while inflation is pushing prices up at record rates in major sectors of the u.s. economy, cpa firms appear to be trimming their billing rate increases, slicing 0.2 percent off the average price from october to november, according to 卡塔尔世界杯常规比赛时间 research.

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turn your business model upside down and reap the rewards

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illustration of man pushing "services" buttonyour secret weapon to exponential profits.

by matt solomon

learning to price, sell, and deliver through a simple, proven process streamlines the way you communicate your value and makes it easy for clients to say yes. it’s your secret weapon.

more: shift 2: step into the role of a business advisor | shift 1: stop depending on compliance work | take the nine-point practice checkup | three ways to leverage today’s uncertainties for renewed growth
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

with practice, your ability to price, sell and deliver will be as routine as a 1040

but it’s worth a whole lot more: between $36,000 and $180,000 per year, per client.
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are you under-pricing your client accounting services?

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cas revenues are surging 20 percent, but profits are lagging. discuss.

by 卡塔尔世界杯常规比赛时间

growth in client accounting services appears to be accelerating, but the expansion may underlie simultaneous growth in personnel turnover and trouble in the pipeline of professionals, according to new research.

more: show clients why they can’t say no | your firm needs a cas champion | how cas drives virtual cfo billings | lower your costs by 75% with cas | your top six cas questions | the roi on identifying clients for cas |

the new benchmarking study found a burgeoning median growth rate of 20 percent, nearly double the rate of 2018. net client fees per professional shot up by 17 percent to average $112,293 as cas practices continued to move toward fixed fee and value billing methods.

and apparently, profits could have been even higher.

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cpas see best outlook in three years, with notable exceptions

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some 76% of cpa corporate executives are now optimistic about the prospects for their own organization, less so about the u.s. economy in general.

cpa execs forecast economic boom.

by 卡塔尔世界杯常规比赛时间
via aicpa

the economy is poised to come roaring back in the year ahead, with forecasts for revenue and profit growth not seen since 2018, according to the second-quarter aicpa economic outlook survey of members in business and industry.

more surveys & research: women lag men in accounting jobs recovery  |  tax season ends with pros covering 54% of returns  |  tax pros retake market share from diyers  |  tax pros race to the finish line |  making partner: what managers need to know  |  survey: tax season swings into the red  |  who’s heating up accounting tech?  |  another tax season from hell?

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

there are concerns, however. “availability of skilled personnel” reemerged as the top-cited challenge for businesses as job recruitment turns up. and two-thirds of business executives now express concern about inflation, up from 44 percent last quarter.

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the cpa’s best role: leveraging knowledge, not just process

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david bergstein says you’re wasting your time and your client’s money if you’re not focussing on the future.

with steven sacks
the new fundamentals: thriving in disruption

to be more competitive, cpas need to shift their focus from compliance service to process-oriented, value-added work, veteran cpa david bergstein tells 卡塔尔世界杯常规比赛时间. this means working with clients to understand their business operations, competition, and financial challenges, such as liquidity, solvency, and profitability.

more on value-add: how cas communications are different | how value billing eliminates guesswork | avoid last-minute deal making | how a great managing partner impacts firm growth | tax season client meetings: kill them now | do you give yourself too much credit? | the 17 rules for making partner at a cpa firm | family feud isn’t just a game show

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

see more 卡塔尔世界杯常规比赛时间 videos here | see more david bergstein here

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the key takeaways:

  • accountants need to switch their focus to look to the future and real-time accounting, which means that the right way of doing things these days is to take advantage of all technology and automation.
  • it’s a small and mid-size business that doesn’t have a bookkeeper, that doesn’t have an accountant, that doesn’t have a controller, that doesn’t have a cfo that looks to cpas to help them. cpas’ advantage is to use that technology to automate all those processes and then spend time selling value-added services.
  • today, to be successful as an accountant, you must identify what platform or platforms you’re going to use to capture your clients’ data at the source to move it through the system.
  • payroll tax processing services can be expanded by setting up the human resource tools that go with it. beyond processing payroll, cpas can find ways to get lower workman’s compensation; automate the onboarding of employees, and provide various benefit options.
  • as part of the de-emphasis on process, younger staff members don’t want to do vouchering anymore, which will be supplanted anyway by automation. so, it’s great for firms to offer more training opportunities to their younger staff regarding analytical thinking, selling, and how to consult with clients to find out what their needs are.

 

transcript

david bergstein, interviewed by steven sacks
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