Questions about our tax & Business Advisory fees

1. How do accountants charge?

Our fee structure is based on the time and expertise required for your specific financial and tax needs. Complex tasks may necessitate the involvement of more experienced team members.

We emphasise that the clarity and organisation of your financial information can significantly impact the efficiency and cost-effectiveness of our services. We believe in the transparency of fixed fee arrangements, which provide clients with cost certainty. It is important to us that we receive as much information as possible, not limited to your prior financial reports and/or tax returns, to assist in determining our fee.

However, it’s important to note that any work requested beyond the agreed scope will be subject to additional charges. As a business, we have a limited number of hours available each day and offering services beyond the agreed scope without compensation is unsustainable.

2. Can you provide a quote for my accounting job?

Similar to how it’s challenging to estimate the cost of a construction project without reviewing architectural plans or appraise jewellery over the phone, accurately quoting accounting work requires a comprehensive understanding of your financial records, accounting systems, and tax/ASIC records.

The cost of our services can also be influenced by the condition in which your financial records are presented to us. Collaborating with your accountant to optimise the organisation of your records can help reduce both the time and cost involved. It’s essential to ensure that all necessary information is included, as any delays caused by missing data can increase both the cost and duration of the accounting work.

3. Why is my fee higher this year than last year?

Several factors can contribute to an increase in fees from one year to the next:

  • Increased workload due to factors such as additional leases, higher turnover/activity, or added requirements like capital gains tax calculations, business transactions, or complex GST/BAS advice.
  • Adjustments in our charge-out rates to account for rising labour costs, which often exceed general inflation.
  • Delays caused by missing information, as accountants may need to set aside and revisit tasks when data is incomplete. Frequent interruptions can lead to extended job completion times.

Our goal is to efficiently and thoroughly complete your work to ensure we obtain the most optimal results for you whilst managing our workload effectively.

4. Shouldn’t software reduce my accounting costs?

Whilst software can streamline accounting processes, its efficiency depends largely on the skill of the operator, often a bookkeeper. When a proficient operator is involved, software can indeed reduce the time required. However, if the operator lacks the expertise, it may lead to increased time spent on reordering and potentially re-entering data, necessitating the involvement of a more qualified, albeit higher-cost, accountant.

5. Why is someone else contacting me as my accountant?

This is primarily a cost-effective measure. Just as you wouldn’t necessarily consult a specialist for a minor injury when a general practitioner can provide the same service at a lower cost, our approach aims to optimise efficiency while maintaining quality. We have rigorous quality review processes, including checklists, and all work undergoes review by a senior team member before it’s presented to you.

6. Paying accounts on time.

Our fee structure is predicated on the expectation of prompt payment. Payment is required upon the completion of the provided services, unless mutually agreed upon alternative payment arrangements have been established. Please be aware that overdue accounts may lead to our decision to withhold further services.

7. Current charge out rates excluding GST

Updated: December 2023. Fees are subject to change.