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James Millar
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bb1, post: 261172, member: 53375 wrote:
Just remember if subscribing to any package via your accountant, they should be asked the benefits to them, and what happens if you no longer wish to use their firm. This applies when buying or subscribing to any software via a3rd party.

Yep. We are a Xero Gold Partner and are offered discounts if we hold the subscription and pay for it. However we decided not to go down that path. It probably amounts to many thousands of dollars each year but our thoughts are

1. Its small beans in the scheme of things. If your firm needs to make an extra $100 in rebates from a client – for all the admin hassle of recovering payments and perceived conflict and data ownership issues. In my view pointless for everyone.

2. Third party rebates can have a bad vibe. We endorse Xero for most SMEs (not all) because its the the best in market. Not because of any kickbacks. Our opinion is not influenced by anything other than the quality of the product. The recent royal commission into financial planners demonstrates very clearly what happens to “professional” objectivity when commissions and side deals are in play. A big fail.

3. Subscription data ownership and associated litigation can be a major problem (generally occurs if a client leaves). If your business strategy is to retain clients or customers be creating administrative barriers to them leaving then you have failed massively. Some of the big telecos and banks have this down to a fine art. I tried to close an inactive empty bank account last week (inactive except for $10 per month fee for 3 years). Online banking let me do anything and everything except close the account – for that I had to call them, ID checks, 15 mins on hold. Simple process made deliberately complex.

Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900