When creating a bookkeeping business you might not think about offering anything other than bookkeeping services. This might reduce your revenue in the long run as clients turn increasingly more to people who can provide multiple regions of value to their business. The greater you can offer boosts the value you represent to the client.
For example, you may have experience writing processes and procedures. This really is valuable not only for that CBD Bookkeepers function but in other parts of the business. Most business owners are searching for improvements in any processes and operations. If you can identify places that there are duplicate processes or can fine tune the systems to enhance efficiency, your role suddenly becomes a noticeable difference towards the bottom line, not just a cost incurred for compliance.
CBD Bookkeepers another specialization might be in the area of risk analysis and internal control.
Highly experienced bookkeepers understand the importance of financial controls, segregation of duties and finest practices. This permits the bookkeeper to improve the worth presented to the customer by identifying risks within the organization and improving ways to minimize the danger towards the business. If you’re able to save the business owner from a fine, penalty or perhaps audit due to insufficient compliance with legislation, you are a valuable asset to the business.
Payroll is usually a requirement for a bookkeeper to perform. CBD Bookkeepers, however, could be expanded past the payroll generation and compliance with associated items for example works cover, superannuation, payroll tax, and tax. You may have a deeper experience in human resources or staff management. Depending on the requirements of the client and also the business size, there may be opportunities to offer additional HR type services beyond basic payroll and compliance services.
IT experience and skills could form yet another area of expertise. For instance as part of the asset register, depreciation or budgeting process you might have the chance to look at the infrastructure or software used by the business. If you possess the experience and skills, it might be an opportunity for the customer to go cloud based, or online with software or perhaps select appropriate software for that entity.
Many small companies need experience in multiple areas but they may not have the budget for specialist services. This is when you can include more quality for your service offerings. I’m not suggesting you’re suddenly a Jack or Jill of trades, especially if you have not had exposure to these types of tasks. However looking past the traditional bookkeeping services may help you not only increase your revenue, however, the perceived worth of your service.