What does a specialist accountant offer?
February 2020

What does a specialist accountant offer?

Contents

What is different about a specialist?

A specialist accountant has a narrowed focus on an industry, segment or particular business life-cycle stage. There key benefits a specialist offers as a result of this narrowed scope are broadly:

  • Experience with applying relevant regulation and answering similar queries
  • Time saving from spending less time explaining the finer details of your business and fewer errors to fix down the line
  • Service level can usually be higher if the specialism allows for a greater level of outsourcing, higher quality advice, and proactivity
  • Standardised pricing can be offered when a segment and its accounting needs is sufficiently well-defined reducing cashflow uncertainty
  • Peace of mind from knowing your business is partnered with a professional who is expert in your field

Am I paying a premium?

A good specialist accountant will not charge you a premium simply for being an expert in your sector. As accountants, core to what we do, is providing a compliance service. A specialist's focus should instead be on delivering this service more efficiently and in a way that maximises the benefit to you and the business' bottom line.

There are three ways we think about how we can do this:

1. Time

If we can give you back time, you can dedicate this reclaimed time to growing the business or pursuing whatever is important to you. In practice, how this compares with a traditional accountant results from:

  • minimal time spent by you getting us to understand your business model
  • fully outsourced gathering of your sales data - something you would typically have to both retrieve and explain/process for an accountant unfamiliar with your platform(s)
  • modern approaches to data collection and processing, i.e. Xero for bookkeeping and integrations, with Receipt Bank for effective invoice capture
  • drastically reduced turnaround time for handling accounting queries as we draw from a vast bank of historic experience
  • fewer errors, enquiries, and questions from HMRC for you to deal with

2. Peace of mind

One of our core goals is to give you additional bandwidth to focus on your business. You can be confident that we know the regulation that applies to your ecommerce business and that we're not going to mess up your filing. Additionally, we can be proactive and advise if we see something that doesn't reflect best practice, and for our bookkeeping clients, we flag misconfigured SKUs, monitor distance selling thresholds, and take on a much greater responsibility (and associated hassle) of staying compliant.

3. Cost

When compared to accountants that charge hourly, we almost always come out cheaper in the end! We take on a lot of business from clients who have been stung by additional hours charged by traditional accountancies to get to grips with the various ecommerce platforms and how to account for them.

In general, we compete on value-for-money. There are accountancies who offer similar services for a lower price, but with a much lower service level. When the additional time cost and hassle to you is factored back in, we are confident we are the most cost-effective partner you will find if you are an ecommerce business.

How do I get started?

Use the Instant Quote feature to get an idea of pricing and to send us a message and we can take it from there.

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