Changing Accountants7 REASONS WHY WE COULD BE THE RIGHT ACCOUNTING FIRM FOR YOUR BUSINESS
“Before you make the decision to change accountants you really need to think about what you want from your accountant. Do you just want tax returns and GST compliance services or are you looking for a business advisor who offers you strategic business development advice? We are forward thinking firm of accountants who do more than just keep the score for our business clients." Jim Tyrrell (Partner)
Let’s be honest, not all accounting firms are the same. Most accountingfirms could be described as ‘general practitioners’ full of great technicians who focus on tax and GST compliance services. The general practitioners view the tax return as the end of the client process, while firms who provide business advisory services view compliance and tax returns as the start of the process.
Here at BHT Partners we understand the decision to change accountants can be stressful, particularly if you have had a long term relationship with the firm or a particular person. Before you make the decision to change accountants you need to think about what you want from your accountant. Do you just want tax returns and compliance services or are you looking for a business advisor who will focus on helping you grow your business, your profits and your wealth? Are you looking for a firm that offers services beyond compliance and has an understanding of your industry or specialist knowledge of business start-ups, negative gearing or self-managed superannuation funds?
Here at the BHT Partners we recognise the fact that business owners need tax returns but they really want five things beyond compliance work including:
- GROWTH - help me grow my revenue and my wealth
- PROFIT - help me improve my business profitability
- CASHFLOW - help me understand and free up my cash flow
- ASSET PROTECTION - help me protect my assets
- SUCCESSION - help me plan my business sale or succession plan
In the digital age, choosing an accountant who understands your business, your industry and your needs can be the difference between gloom and boom. Over the years we have developed expertise in some niche markets including some specific services and we deliberately target ambitious business owners who want more than just tax returns. In fact, we strive to earn your trust and go that extra mile to understand what makes your business and industry tick. As forward thinking accountants we want you to take advantage of emerging opportunities. We certainly prepare financial statements and tax returns but our marketing expertise distinguishes us from other local accounting firms. We want you to work SMARTER not HARDER and in the process build a more financially rewarding business that delivers better lifestyle options.
We have identified 7 key areas that distinguish us from other accounting firms.
1. GROWTH FOCUS
As mentioned above, a lot of accounting firms have great technicians who excel in preparing tax returns and GST compliance work. They see the tax return as the end of the process. Here at BHT Partners, we certainly prepare lots of tax returns and believe we are very good at compliance work, however, we view the tax return as the start of the client process.
Beyond compliance we deliver business advisory services that are designed to help you grow your revenue, profits and the value of your business.
We believe your marketing could be the difference between gloom and boom and traditional media and conventional marketing tactics like newspaper ads, television, radio and Yellow Pages are in decline and being replaced by new forms of marketing including social media, websites and YouTube. The next generation of consumers have adopted these forms of media and to be successful you need to embrace these changes.
For that reason, we give you access to some cutting edge, valuable marketing resources including:
- The Business Growth System - containing more than 80 breakthrough marketing strategies supported by videos, templates, checklists and 2,500 pages of educational content. It's a very valuable and an expensive resource you get for FREE
- The ‘Grow Your Business in 5 Days’ video training course that could have a massive impact on your future business growth. It includes 12 brilliant marketing videos covering important issues like websites, customer databases and email marketing.
We will help you understand the four ways to grow a business plus identify the key profit drivers in your business. We can walk you through a number of profit improvement strategies and even quantify the profit improvement potential in your business. Our role is to make sure you know your numbers and don't leave any profit or tax savings on the table.
In business, if you keep doing things the same way you’ll continue to get the same results. You need to be working ON your business, not just IN your business and these resources provide you with a great foundation. When you combine our business growth strategies with technology and these tools you can change your future financial outcomes and build a more financially rewarding business.
2. MINIMISE THE COST OF COMPLIANCE
We truly understand that tax returns and GST compliance work is a ‘grudge’ purchase for business owners. You need them but they don’t add value or help you grow your business. Our objective is to help you minimise the cost of compliance and bookkeeping so we start by identifying the right accounting software for your business.
We match your business needs with your level of accounting skill and where required, we train you to use the software. We support a number of software programs and love working with cloud based software solutions like Xero , MYOB and QuickBooks. Quality records not only save you money but they create capacity so we can spend more time working with you ON your business and your marketing. Our clients keep telling us that we deliver value for money and we strive to earn your trust and future referrals.
3. KNOW YOUR NUMBERS
Our mission is to help you fast track your business success. We want you to spend more time working ON your business and if you understand the four ways to grow a business and the key profit drivers in your business we can talk you through profit improvement strategies. Using intelligent software we can then quantify the profit improvement potential in your business.
‘Knowing your numbers’ lets you make more informed business decisions and using industry benchmarks we can analyse the performance of your business and compare it against your competitors so you know what is working in the business and what needs working on. Most importantly, we talk you through the numbers so you have a clear understanding of the impact of any price changes on your margins and profits.
4. BUILD YOUR BUSINESS AND GROW YOUR WEALTH
Improved profitability means little if it doesn’t translate into a more secure and prosperous financial lifestyle. Accordingly, we also provide wealth creation services and use tax effective strategies like self- managed superannuation (SMSF) and negative gearing to help you grow your wealth. Tax planning and tax minimisation are key service offerings at our firm and these require the right business structure and forward planning.
Over the past few years negative gearing of investment properties and SMSF's have become niche services within the practice. Of course, once you build wealth you also want to protect your assets which is why we also consult with clients about risk and succession planning.
5. WE LISTEN AND CARE
We take great pride in being a pro-active rather than a reactive accounting firm. We listen to our clients and are responsive to their changing needs. In recent years we have introduced business coaching and marketing services to our menu of services and we also host client seminars to educate you on the latest marketing, business growth and superannuation strategies. We recognise the fact that we only exist because of our clients and your success is our success.
6. OUR PEOPLE
Confidentiality, integrity and professionalism are assured and our dedicated team of accountants are committed to ongoing professional development so you enjoy access to the best technical tax and accounting advice available. We aim to be your trusted business advisors and listen to your needs, speak your language and no job is too big or too small for the team. We believe our offering is unique and our team is incredibly passionate about helping you succeed.
7. PERSONAL SERVICE & GUARANTEE
A lot of accounting firms promise to deliver personal service but we believe we offer you ‘old fashioned’ silver service. We pride ourselves on being accessible and guarantee we will always return your phone calls and respond to email queries as soon as soon as practically possible. Wherever possible, we visit you at your place of business and these site visits give us a valuable insight into your systems, software, processes, people, equipment and future needs.
We tailor our financial solutions to your needs. You won’t get delegated down the chain for important work and our systems and processes mean your work won’t sit idle for weeks or months. We aim to turn compliance work around very quickly and efficiently so we can turn our attention to planning and growing your business.
IT'S EASY CHANGING ACCOUNTANTS
A lot of business owners agonise over the decision to change accountants. This is understandable where the accountant has been a trusted advisor for years and almost extended family. However, the decision to change accountants is a business decision so you don’t have to make excuses or feel uncomfortable.
Once the decision is made it is a relatively simple process.
When you appoint us as your accountants we manage the transition through an an agreed industry code of conduct which includes contacting the previous accountant to confirm there is no reason why we should not accept the engagement. We obtain copies of all necessary documents and financial records including prior year tax returns and schedules. The outgoing accountant is obliged to pass on the information as a formality and they should not charge for handing the information over to us. If you have an outstanding account they might withhold the files until payment in made in full.
THE NEXT STEP
Given you are already browsing our website, the easiest way is to call us on (03) 9431 3000 or email us on email@example.com
Simply provide us with a few basic details and we will put the wheels in motion by contacting your current accountant.
Of course, if you’re not quite ready to make the move that’s fine and we recommend you simply subscribe to our Business Accelerator Magazine. This newsletter will give you an insight into how we help our clients beyond their tax and GST compliance needs.
If you're a committed and ambitious business owner looking to accelerate your business success we invite you to book a FREE, one hour introductory consultation to discuss your business or marketing needs. You can expect practical business, tax, marketing and financial advice designed to help you build your business and grow your wealth. To book a time contact us today or complete your details in the box at the top of this page.