Telling people ‘I’m an accountant’, isn’t really telling them what I do and it’s a bit of a conversation stopper, after all everyone know’s what an accountant does, don’t they…?
How about:
‘I help businesses and individuals pay less tax’
Isn’t that far better? Straight, to the point, and telling people what I can do for them.
What is it you do again…?
Enough of me just talking about Xero. I thought I would start giving examples of why it’s so good and why I think it is the smart solution for most small owner managed businesses.
Bank reconciliations on traditional software, spreadsheets or manual records can be tedious at the best of times.
Xero’s bank reconciliation, whether you use automated feeds or import bank statements is a revelation. The functionality and visual display of the matching items screen actual makes doing a bank reconciliation fun.
Take a look at the video and let me know what you think.
…it’s who.
Yes, old adage and most people have heard it, but it was reinforced to me very strongly this week.
I was introduced to a new client two weeks ago to produce a business plan to help him secure the mortgage to enable him to buy a commercial premises that’s he’s been operating for the last six months.
The current owner had agreed to allow my client to operate the premises and complete the sale within a few weeks of shaking hands on the deal (it’s a convenience store which the current owner no longer wished to operate but wanted it to continue trading).
Well that few weeks turned into six months as a series of business advisors, finance brokers and accountants failed to come up with a mortgage offer.
So we were at the stage two weeks ago where my (new) client and the owner were almost coming to blows due to a series of false starts and false and broken promises from so called professional advisors.
I was introduced through a finance broker I work with regularly. After several meetings with the client and suitable lenders we now have an in principle offer from a high street lender and a very competitive rate.
So, if you need help from professionals, make sure you pick the right one’s. If it’s finance facilities you need, make sure the advisor has a track record of success and can quote some recently completed deals.
If you do feel stuck, your accountant should be able to advise, if he can’t he’s not looking after you and you need to change him.
It really isn’t what you know but who…
So, I don’t need to bleat on about this anymore.
As more and more converts are finding out, Xero really is a great piece of kit and is helping thousands of businesses really get to grips with and understand their accounts.
Here’s the proof about the superhero status, straight from the horse’s mouth, so to speak.
Whatever your profession, its unlikely you know everything about every part of your sector.
A GP, knows stuff a Brain Surgeon doesn’t and a Primary School Teacher knows things a Sixth Form lecturer doesn’t, and so on.
The same applies to accountancy, I like to think that I do what I do very well. At the same time I would never profess to knowing a great deal about Pension Fund and Charity accounting. Nor am I best the best person to ask about International Auditing Standards.
I am good at small business accounts and offering advice on how to manage the finances of a business more effectively. I can also help individuals and business owners to pay less tax by making them aware of areas of tax legislation that they can take advantage of.
When I’ve offered advice to those who work from home about paying less tax it has been incredibly well received.
So to the accountant who offered this advice to their client, regarding this spreadsheet;
The spreadsheet calculation you have attached is for use by a self employed individual.
You and XXXX are directors and employees of XXXXXXX and as such not entitled to claim the same expenses as the spreadsheet suggests. We would put in a nominal charge to cover costs for working from home but it cannot be excessive.
However, when claiming for use of home as office, the self employed run the risk of a charge to capital gains tax when selling their private home, as they have effectively deemed part of it as business use and not PPR.
…please carry on giving your clients poor advice in areas where you obviously don’t know very much as it means more work for me!
So, just because your accountant is good at one thing, don’t assume he or she knows everything and make sure you pick one who is right for you and your business.
So, you’ve heard about Xero accounting software and how it claims to be “the world’s easiest accounting software”. You’re probably thinking, “yeah they all say that”.
Well, I think it is and so does another one of my new clients.
Two weeks ago I was contacted by a business owner, who was not a client. He was in a fairly desperate state having been told by his accountant that his accounts had to be submitted and corporation tax paid by the end of next week.
It was the first time he had spoken to his (now ex) accountant for almost a year.
Add to this that his current accounts software had crashed and lost all his data, he was in a real pickle.
Well, to cut a long story short, with a download of his bank statements and the help of Xero I managed to get a draft set of account to him in two days and I’m meeting him tomorrow to sign off the accounts and tax computation, with more than a week to spare.
So, thank you Xero, without your help I couldn’t have done this so quickly and efficiently. You have gained another convert and I have a very happy new client.
I like to think I do a good job.
I respect my clients and try to do my best for them. I tell them how it is, which isn’t always what they want to hear but I have their best interests in mind.
So it’s great when I get a pat on the back, a “thanks” or a “well done”. After all if my client’s think that I’ve done a good job, then they will tell others.
Referrals from existing clients is a great way to grow your business. I’ve had two calls today from people who have been referred to me from existing clients.
So a great day today and I look forward to helping more businesses tomorrow!
