How much will I pay for the service?
The beauty of the online system is that you may chose the level of involvement you take in your accounting – and you can change that level of service over time.
This means that we do not offer a one-price-fits all solution. We charge a mere £10 +VAT per month for the usage of the software. In addition to that, you only pay for our time, if and when you do need to use us.
What is the minimum cost in the first year?
The fee for the software is £120 per annum (£10 a month). In the first instance we charge a small fee of £80 for the cost of setting you up as a client and following through with the Money Laundering Regulations procedures. This is a one time fee. Based on our experience with new users, we estimate that the amount of support a very experienced user might seek through the course of the first year typically includes five hours of training, support and accountancy advice and this amounts to approximately £250.
If you are very experienced in accounting matters then this might be all you need – but most businesses will want more support and advice from an accountant to get their accounts right and to minimise their tax liability.
What might a new business be charged?
This is very difficult because different people need different amounts of help, depending on their previous experience of tax and accounting. We have found that the clients who try too hard to economise on the help from the bookkeeping team end up paying more when it comes to prepare their final accounts.
Do you offer any fixed fee options?
At the moment we do not offer a fixed fee – because most clients want to reduce their costs over time as they become more efficient. They can only do this if they get more help at the beginning when they need it. However we do offer a standing order arrangement. This would fix your monthly payments. Typically £100+ VAT per month is adequate and this can be reduced once you are in credit. Most clients find that they need most help in the first couple of months – so they are easing their cash flow by this arrangement.
What about setting up an existing business with a previous accounts history?
Some clients have actually gone back through their accounting records and entered all the transactions as a learning exercise and to have a full set of accounts in one system. For most businesses this is not practical. We can explain how to set up your opening balances or will do this for you.
To find out more about the pricing structure for our Online Accounting Services, please call us at +44 (0)1223 507080 or email at email@example.com