Choosing which accounting services to buy is a complex decision if you’re an owner of a business. It does not matter whether your business is small or large. You need accounting services for it, and we are here to tell you if fixed fee accountants are your cup of tea. When looking for an accountant, several factors are to be taken into account. Reputation, skills, and price are just to name a few. But we believe the price is the key factor that determines the outcome of your decision. Therefore, moving forward with our subject, let us discuss whether fixed fee accountant services are better than the standard accounting services. But firstly, we must understand what fixed fee accountancy means.
Who are Fixed Fee Accountants? What Makes Them Different?
Accountants generally charge hourly for their services. But a fixed fee accountant is different. As the name suggests, a fixed fee accountant has a pricing model through which their services are bought. Contrary to the classical hourly billing method, a fixed fee pricing model determines an accurate service rate. Moreover, it is more efficient and profitable for both the accountant and the client. Hourly billing, on the other hand, is uncertain and often overworks the accountant. Therefore, more and more accountants are now fixing their pricing based on many factors. But what exactly makes a fixed fee accountant better for you? Find out below!
Reasons Why a Fixed Fee Accountant is Best for Business:
In fixed fee accountancy services, you get several advantages on your side. The advantages below are enough reasons to show why a fixed fee accountant should be your choice.
- Pre-Determined Price
The first heavy advantage you get from a fixed fee accountant is a pre-determined price. In the hourly billing method, you can be surprised by the extra charges of the accounting services. Since the hourly method does not give you an exact estimate amount that you will be paying to your accountant. Sometimes the services you need are not covered in the estimated hours. This can result in unexpected billed hours.
- No Hidden Charges
With a fixed fee accountant, you’ll be free from worrying about extra hidden charges of their services. You’re buying a package of services that has a fixed fee. Your accounting needs will be taken care of within this fee you’re paying. There will not be any sort of additional charges for any extra work your accountant has to do.
- Multiple Pricing Packages
Contrary to the practice of hourly billing accountants, fixed fee accountants have a variety of pricing packages. Every package has a fixed price and different properties of services. You can choose whichever one seems affordable to you and best suits your accounting needs.
- Quality-Based Work
When you hire an accountant who charges hourly, your focus is on the hours that it will take for the accountant to get the job done. But with a fixed fee accountant, your focus is on the quality of the services being provided by the accountant. This shifts the paradigm of both money and quality.
- Increased Trust
Fixed fee accountancy benefits both clients and accountants. The element of unexpected hourly billing and hidden charges is completely eliminated. This results in fueling the relationship between both parties and building a strong bond from which both parties benefit.
Whenever buying services from a fixed fee accountant, ensure you thoroughly understand what the provided package covers. Fixed free accountancy has not been around for long. But once people get to realize it is best for business, they will always go for fixed fee accountants.