3 tips to save on accountancy costs: ‘Keep it simple’
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In addition to a shortage of accountants, there is a lack of available time. Loose receipts, unclear payments… the administrative hassle and the associated invoice add up. Opportunities for targeted financial advice are becoming scarce.
To make optimal use of your accountant for financial matters, Mike Collier, CEO and Digital Accountant at FiskCouncil, shares some beneficial insights to work efficiently.
1. Simplify administration with the right tool
Mike: “Want to lighten both your own and your accountant’s administrative work? Use a ‘pre-accounting’ tool. This app or platform gathers sales and purchase invoices or other financial documents in a clear, uniform way. You simply hand over that overview to your accountant.”
The message is clear: Digitise your basic tasks. Make an app or platform your administrative buddy. Receive real financial advice from your accountant. Neither you nor your accountant is happy just collecting and processing receipts.
“When I think of such receipts, a lot of stress and frustrations pop up. Both for the self-employed and the accountant. Apps that consolidate all those tickets and replace them with one clear invoice make life easier. Providing financial information correctly is truly a godsend.”
“Moreover, your accountant’s invoice decreases. When we have fewer receipts to process, we logically spend fewer hours on them. It takes as much work to declare an invoice of €1 as one of €1000. The smoother the paperwork is provided, the less work for us and the lower the cost for the client.”
Mike continues: “Honestly, no one is waiting for a pile of parking or train tickets. And that’s not to mention missing receipts or unclear payments. With the right tool, only one invoice needs to be booked. It’s easy for you and your accountant.”
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2. Make clear agreements
Good fences make good neighbours. “Discuss specifically who covers which tasks. Clarify what you can turn to your accountant for and what not. Open communication creates a relationship of trust.”
Also involve your accountant in the workings of your business. Mike explains: “We know all about accounting, but not necessarily your company. What are the specific characteristics? Do you, for example, make purchases abroad? Do you travel for business or not? It gives us insight into the tax impact.”
Combine clear agreements with transparent administration, and you get an efficient accountant. As a result, they have more time for financial guidance with added value.
3. Discuss fixed agenda points
“A neat yearly plan keeps it simple and organized. You immediately know what documentation is expected by which date and what your accountant delivers at that moment. At FiskCouncil, we outline who does what and set a clear deadline.”
“By doing so, our work runs smoothly and is well-organized. However, it’s also an ongoing process. In a fruitful partnership, you keep learning. We regularly tweak to optimize efficiency. The smoother your accountant can work, the less it costs for the client.”
That brings Mike back to the first point: “Digital tools are key. When we focus less on loose receipts, we create time to work more advisory-focused. Keep it simple.”
