Grow your firm's revenue by offering more services
February 10, 2016

Tax season is the busiest time of year for accountants and bookkeepers. Such individuals have a consistent flow of clients coming through their office doors, providing a solid revenue stream. Yet each firm should consider how it plans to handle the decrease in revenue once tax season ends. 

How exactly does an organization maintain growth throughout the year? How can it continue improving into 2017 and beyond? One common answer is to bring on more clients. However, in some cases, it may be more beneficial for a firm to offer additional services to existing ones. This allows professionals to increase productivity and develop better relationships with the businesses they already assist.

There's a benefit for small business owners as well. Their concerns lie across all aspects of their organization, not just financial reporting. These business owners are busy with employees, customers, inventory, sales numbers and more. As such, their priorities shift rapidly each day, so many business owners don't have the time to handle the nuances of taxes and bookkeeping. Chances are high your clients are interested in outsourcing more of their accounting and bookkeeping  work.

Services firms can provide
Employee salaries are a significant factor of a company's expenses and tax liabilities. Therefore, it makes sense for accounting firms to take this burden from their client's HR departments and work on payroll themselves. While some consider calculating paychecks a lot of effort for little benefit, accounting software makes the process easy and profitable.

Still, bookkeepers and accountants don't have to stick to reviewing time cards and raises. They're also well equipped to act as consultants for their clients. Their professional experiences make them uniquely suited to handling the financial needs of small businesses, said Accounting Web. For instance, new owners might not know the ins and outs of seeking out a business loan. Accountants and bookkeepers can help these individuals determine their financial needs, assess their current situation and present a request to their bank.

Many firms are reluctant to provide more for their clients simply because of the additional time required. Such professionals should focus on organizing and condensing their workflow for maximum efficiency. Financial management and business intelligence software makes maintaining and updating records simple and nearly free of human errors. Those with integrated bank feeds and cloud-based systems make tracking expenses even easier.

Accounting and bookkeeping firms shouldn't have to worry about maintaining revenue after tax season. Sage helps accountants and bookkeepers bring more to their clients by providing access to real-time data and by keeping track of their financial performance through business intelligence software.

Nexus: G-WEBCD4