Source: AccountingInsight | Repost QBScott 2/27/2020 –
If asked, most practitioners could reel off basic details about their client base, and what they are provided by the accounting practice.
However, that answer, given by the owners of many small practices is remarkably similar: ‘Oh, we have everyone from sole traders up to a few multi-million-pound organizations. Some in construction and manufacturing, creatives, academies, consultants etc.’
There is unlikely to have been any detailed analysis of who are the top five highest fee payers (and why), conversely who are the lowest (and why).
Some sectors may be more represented on an accountant’s books than others. Wouldn’t it be good to know what those sectors were, what those clients are charged and what actual services they receive?
Undertaking such analysis gives practices a brilliant opportunity to understand what they really offer, and to whom. It’s the kind of information that is vital in enabling accountancy practitioners to plot, predict and set about a path to future success and increased profits.
Author: Scott Meister, CPA
I help small businesses, accountants, bookkeepers, office managers, and business owners with their accounting needs. I’ve used QuickBooks since 2002 and train folks on how to use it efficiently. I create high-quality video training tutorials for QuickBooks and post them on QBScott.com
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