Category: For Accountants

“So how much do I have to pay for your services?” This is probably one of the most challenging questions we can encounter in our practice. We may have been taught how to keep the books balanced or file taxes on time, but nobody actually taught us how much to charge for our accounting services. Perhaps, some of us were fortunate enough to be mentored by other practitioners, those who have been in the industry for a long time. However… Their pricing scheme may no longer be applicable to our time. So how do you determine how much you should charge for your accounting services fees? Here are three simple steps to follow. Compare prices Probably one of the first things we do when planning to put up a business…

What is 2551Q? BIR Form 2551Q is also known as the Quarterly Percentage Tax Return form. Who should file 2551Q? Non-VAT registered individuals or non-individuals “who sell goods, properties or services, whose annual gross sales and/or receipts do not exceed three million pesos (Php3,000,000.00) and are exempt from value-added tax (VAT) under Section 109 (BB) of the National Internal Revenue Code, as amended by Republic Act (RA) No. 10963” and others. When is the deadline of 2551Q? Form 2551Q is due within 25 days after the close of the taxable quarter. How do you prepare 2551Q? Fill out all the necessary fields on the form, making sure all values and data are correct. For fields with options, place an X mark right next to the applicable choice.To make form preparation…

What is 2550Q? BIR Form 2550Q is also known as the Quarterly Value-Added Tax Return form. It’s like the Form 2550M only this is filed quarterly. Who should file 2550Q? If you’re a VAT-registered business or a business required to register as a VAT payer, you should file 2550Q if your business’ actual gross sales or receipts exceed three million (3,000,000) pesos. Also, if your business is in the importing of goods, you need to file 2550Q. When is the deadline of 2550Q? Form 2550Q is due within 25 days after the close of the taxable quarter. How do you prepare 2550Q? Fill out all the necessary fields on the form, making sure all values and data are correct. For fields with options, place an X mark right next to…

What is 0605? BIR Form 0605 is also known as the Payment Form “to pay taxes and fees which do not require the use of a tax return.” Some examples of these fees are tax deposit or advance payment, penalties, income tax second installment, self-assessment, deficiency tax, etc. Who should file 0605? Individuals or businesses who need to pay the fees mentioned above. When is the deadline of 0605? There is no specific date set as the deadline for 0605. Instead, you should follow the due date stated in the demand letter/assessment notice or collection letter from the BIR. Also, if you have tax payments or penalties due, follow their deadline.For payment of annual registration fees, however, be it renewals or new business, the deadline is on or before January…

Finally, here's the last part of our getting more clients series.Referral programsThere are several referral programs you can create for your practice. In fact, from Referral Candy alone, you can get 47 ideas already for your business. These programs are easy to set up and can work for almost anyone.You may also look for services that offer referral programs and partner up with them. There are companies that offer substantial discounts or commission when you refer even just a few clients.The best part of having a referral program is that you barely have to shell out cash. Paying your referrers with goods or services is more appreciated. For an accountant, perhaps offering an hour worth of service or free financial analysis can do the trick.Social mediaDespite all the fake news…

As the title clearly states, this is now the third part of our four-part series about how you can get more clients. If you missed the first two, here’s the first and second five.MeetupsMeeting up with people is one good way to expand your reach. But where do you find people with common interests?Meetup.com may be the answer.Just create your account then start searching for groups you’re interested in. If you can’t find one, you can create a group of your own then wait for others to join.NicheThis method may not be a specific how-to, but choosing your own niche makes it easier for you to find clients.Would you like to work with businesses in the real estate? Law firms? Software industry? It’s your call.The best part of concentrating on…

Here’s the second part of our getting more clients series. If you missed Part 1, you may check it out here. Otherwise, here’s the next five: Free advice In a previous post, we shared how adding value to your service attracts more clients. And one of the values you include is offering free advice. Who doesn’t love free stuff? This is especially beneficial if you haven’t established your name yet. Potential clients don’t know yet what you can bring to the table, so giving them free financial advice will get your foot on the door. Some of the places where you can get potential clients are listed in the first part of this blog. Alternately, you can join groups such as Philippine Tax, Accounting and Audit Forum and Tax Help…

We know getting accounting clients is not an easy feat, especially for rookies. So we compiled several tips and tricks that worked for a lot of other accountants that we know and us.What’s more:We made sure this list applies to our local accounting environment. Hence, you’re assured you won’t run out of ways to score accounting clients:Ads (Boost post on facebook)Did you know that Facebook gives you $30 you can spend on boosting posts or what we call ads?If you create a page for your service, Facebook offers a $30 coupon you can use. With this amount, you can promote your page, your posts, or your website.In case you’re promoting your Facebook page, make sure it is optimized for maximum reach and reactions.If you’re not sure how to do it,…

Getting more accounting clients is probably every accountant’s goal. Hence, we have a list of things to include in our practice so we can reach more market. But did you know getting more customers do not really need rocket science? Blake Oliver shares you only have to consider only two criteria: Ease of use Price Before discussing these two points further, let us just clarify that these points are actually the top criteria that business owners ruminate on when choosing who to bank with. But as an accountant, you can also apply these to your practice. Ease of use In the accountants’ world, ease of use may translate to client-friendliness. If you enjoy shopping at a place where the salespeople are mataray or unapproachable, something may be wrong with you.…

To say that accountants are overwhelmed with their tasks is an understatement. Hence, to make these responsibilities more bite-sized, we come up with to do lists.But have you had that realization that your lists do not seem to end no matter how much you tick items off it?That’s probably because you have been these things. And if you do, it only means you’re doing your practice wrong.6 things you do wrongGiving accounting advice for freePreviously, we mentioned that adding value to your business through free advice is one of the best ways to get more clients.So are we changing our minds?No. Not at all.What we’re against is putting so much effort into “adding value to your business” for free that your time actually suffers. How many times have you talked…