I can understand the argument for the use of cloud bookkeeping software in collaboration with clients - but I agree with Lutondata that it's slower than a PC-based programme. I much prefer a combination of VT Transaction + and logmein.
However where I really disagree is with the need to have practice software in the Cloud. Who would even think of replacing VT or Moneysoft with a cloud-based product? And if you absolutely must, surely it's now possible just to have the desktop software hosted - surely that ends up potentially being the best of both worlds (setting issues with broadband speed aside) i.e. you continue to use the software you know but can access it from any location?
Bob it's good you've no expectation of a global practice to change based on your comments. But are you really suggesting that the top 4 accountancy firms haven't mastered the art of extracting money from clients?
I appreciate that, as you put it, market share doesn't equal profit share, but even after a 20% fall the partners profit share was £508,000. Can you point to a practice using the Value Pricing model who have improved on that?
Sorry just re-read my post and realised how sanctimonious it sounded, particularly under the heading of "Trust". There's no right or wrong each client will have his/her preference or level of interest.
Having clients trust is important, but I'm afraid I insist in going through accounts and tax returns with clients for a couple of reasons:
many clients only really take time-out to review and discuss their financial position once a year when they are reviewing the year end accounts. I try to make this a useful meeting - and like to consider key ratios and trends; and,these are the clients accounts and tax return, not mine. I believe they should understand what they are signing.
Of course I try price my services to allow for this review, but new clients very often comment on the fact that I send time with them and that their previous accountant didn't. Spending that extra half-hour generates customer loyalty and encourages referrals.
It's a little american (perhaps more than a little!), it's a little expensive (£105 for a home fitness programme), and really hard work, but if you're disciplined enough to spend 45mins to an hour every day, 6 days per week for 60 days it does the job. I didn't need to lose too much weight, but what was there has gone and I'm a whole lot fitter.
My answers
Not convinced
I can understand the argument for the use of cloud bookkeeping software in collaboration with clients - but I agree with Lutondata that it's slower than a PC-based programme. I much prefer a combination of VT Transaction + and logmein.
However where I really disagree is with the need to have practice software in the Cloud. Who would even think of replacing VT or Moneysoft with a cloud-based product? And if you absolutely must, surely it's now possible just to have the desktop software hosted - surely that ends up potentially being the best of both worlds (setting issues with broadband speed aside) i.e. you continue to use the software you know but can access it from any location?
Nicely put John
Bob it's good you've no expectation of a global practice to change based on your comments. But are you really suggesting that the top 4 accountancy firms haven't mastered the art of extracting money from clients?
I appreciate that, as you put it, market share doesn't equal profit share, but even after a 20% fall the partners profit share was £508,000. Can you point to a practice using the Value Pricing model who have improved on that?
Sanctimonious
Sorry just re-read my post and realised how sanctimonious it sounded, particularly under the heading of "Trust". There's no right or wrong each client will have his/her preference or level of interest.
Trust
Having clients trust is important, but I'm afraid I insist in going through accounts and tax returns with clients for a couple of reasons:
many clients only really take time-out to review and discuss their financial position once a year when they are reviewing the year end accounts. I try to make this a useful meeting - and like to consider key ratios and trends; and,these are the clients accounts and tax return, not mine. I believe they should understand what they are signing.
Of course I try price my services to allow for this review, but new clients very often comment on the fact that I send time with them and that their previous accountant didn't. Spending that extra half-hour generates customer loyalty and encourages referrals.
Worth a try?
I've used the following programme for some months now.
http://www.amazon.co.uk/Insanity-Ultimate-Workout-Fitness-Programme/dp/B002QZ1RS6/ref=cm_cr_pr_product_top
It's a little american (perhaps more than a little!), it's a little expensive (£105 for a home fitness programme), and really hard work, but if you're disciplined enough to spend 45mins to an hour every day, 6 days per week for 60 days it does the job. I didn't need to lose too much weight, but what was there has gone and I'm a whole lot fitter.