As you may know, I am involved with Crunchers Bookkeeping Franchise and I wonder if anyone has any thoughts on something that has been on my mind for a while.
For 10-15 years a number of accounting networks have been helping accountants extend their service with training and resources so they can deliver business consultancy.
This includes advisory services like strategic planning and profit improvement plus business coaching. On the whole this has not really worked; accountants have bought the tools but not done a lot. My experience tells me that this is because accountants are too busy with accounts and tax. They also lack the sales/marketing skills and are generally too comfortable.
Now, I believe UK businesses will benefit from professional input outside basic bookkeeping, accounts and tax return (which is what 99.9% get at the moment) and am thinking this is an opportunity for bookkeepers.
This type of support is not technical. There is no risk. It is number based without being complicated. It can involved bookkeeping/accounting work like budgets and cash flow forecasts and always management accounts as part of the reporting and monitoring elements.
Yes, bookkeepers will need some additional training and resources to support them but do you feel becoming a super bookkeeper to win more work at higher rates?
In my experience, clients are allways looking for "business support" beyond bookkeeping.
I agree there's is a gap between bookkeeping and accountant that needs to be filled. What I find frustrating is there is a level of service that only Accountants can offer, but you know it's unlikely the Accountant is performing the service. A competent bookkeeper may well be capable of offering this service.
Personally, I'm curious to see what services ICB members can offer with the new level 4.
Tony.
-- Edited by ADAS on Tuesday 31st of August 2010 01:51:09 PM
__________________
Tony
Responses are intended as outline only. Formal advice should be sort from your Institutes Technical Department or a suitably qualified Accountant.
having read the post, I guess I'm fortunate enough to offer those additional Business support services, ranging from business planning, cash flows, forecasting, IT support/management etc...
Although I would always suggest seeing an accountant for tax planning, year end accounts and corp tax etc.., I don't see why bookkeepers cant offer additional services with the correct training or experience.
I started my business to fill the so called gap between bookkeepers and accountants, mainly due to the fact that I have worked both sides of the fence. 10 years in practice AAT qualifed, never did full ACCA or the like due to playing too much football, but you cant beat years of experience. I then spent 4 years in industry acting as financial controller or assistant to the FD.
But I wouldn't call myself a super bookkeeper, although I do like the term.
