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  • #1227868
    brownbag
    Participant
    • Total posts: 40

    I’m looking to find a local accountant as I’ve moved (from Geelong to Melbourne) and potential changes in company structure may make me need to ‘visit’ our accountant more often than previously. Our previous accountants did do a good job but their hourly rate was prohibitively expensive, making me avoid calling them as much as possible. But they did somehow find a way to give me a subscription to Quickbooks (which I think is at least the Essential options which is what we need) for $1 a quarter. Is this something common that other accountants can do, or would it be some special option that only few accounting services have.

    TIA

    #1227869
    Paul – FS Concierge
    Keymaster
    • Total posts: 3,183

    Most Accountants will have accounts with the major providers and on-sell access to you.

    The only issue is that they actually control you data which can be consequential if you ever get into a dispute with them.

    #1227872
    bb1
    Participant
    • Total posts: 4,485

    Have fun trying to wrestle your data file from them.

    #1227883
    James Millar
    Participant
    • Total posts: 1,703

    Have fun trying to wrestle your data file from them.

    Yes this is the “dark side” of adviser-held subscriptions. Might save you a few bucks a quarter but I have seen countless instances of unprofessional behavior where the business wants to move accountants and the outgoing firm is less than cooperative in transferring the subscription to the client.

    For that reason, we highly recommend the client / business pays a little more and holds the subscription in their own name. The extra cost is marginal at maybe $100 per year but it’s great insurance to ensure you have freedom to move if the service is not up to scratch. There is a reason by telecos and banks use techniques to make it hard for you to move around – it allows them to give you a lower standard of service.

    If you need any pointers with your business accounting feel free to reach out.

    • This reply was modified 3 months, 3 weeks ago by James Millar.
    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
    #1227887
    brownbag
    Participant
    • Total posts: 40

    Thanks James – good advice. You said that the extra cost is marginal at $100 a year. I don’t understand this as I currently pay $4 a year and I would expect that a standard subscription would be about $300 a year. Is your estimate not taking into account the extremely low amount I pay for the subscription?

    #1227893
    James Millar
    Participant
    • Total posts: 1,703

    Thanks James – good advice. You said that the extra cost is marginal at $100 a year. I don’t understand this as I currently pay $4 a year and I would expect that a standard subscription would be about $300 a year. Is your estimate not taking into account the extremely low amount I pay for the subscription?

    You might be using reckon one – maybe if you could specify your exact subscription. Sometimes they also have watered down ledger / cash book only versions which are super cheap. I very much doubt any platform is offering the fully functional version (unlimited feeds, invoices, payroll etc) at a sustained price of $4pm. So let’s see what version you have and then I can offer some feedback

    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
    #1227894
    brownbag
    Participant
    • Total posts: 40

    “You might be using reckon one – maybe if you could specify your exact subscription. Sometimes they also have watered down ledger / cash book only versions which are super cheap. I very much doubt any platform is offering the fully functional version (unlimited feeds, invoices, payroll etc) at a sustained price of $4pm. So let’s see what version you have and then I can offer some feedback”

    I can’t see your comment here, but I’m not using reckon and it is a fully functional version of Quickbooks. I can do bills, invoices, BAS, Superannuation, Payroll and get phone/chat help from Intuit.

    #1227928
    James Millar
    Participant
    • Total posts: 1,703

    “You might be using reckon one – maybe if you could specify your exact subscription. Sometimes they also have watered down ledger / cash book only versions which are super cheap. I very much doubt any platform is offering the fully functional version (unlimited feeds, invoices, payroll etc) at a sustained price of $4pm. So let’s see what version you have and then I can offer some feedback”

    I can’t see your comment here, but I’m not using reckon and it is a fully functional version of Quickbooks. I can do bills, invoices, BAS, Superannuation, Payroll and get phone/chat help from Intuit.

    Well if it’s one of the full function versions then $1 per quarter is well outside partner program deals. I can only imagine they are somehow subsidising the cost (perhaps making it up in other areas).

    Are you sure your current accountant is the wrong solution for you? Are they are helping you identify and solve your financial problems? Have they offered to help and you have declined or have they just not offered at all? There is obviously a problem with the value proposition because you indicate their cost is an issue.

    Helping build better businesses and better lives with expert financial and taxation advice. info@360partners.com.au www.360partners.com.au 03 9005 4900
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