Wednesday, March 25, 2009

Marketing Bookkeeping, Accounting and Financial Services - First in a Series

There is nothing more heartbreaking than to spend weeks and months, and thousands of dollars developing your bookkeeping, accounting or tax practice and seeing it languish as you struggle to attract new customers and clients.

You have knowledge and experience, and you have a passion that you wanted to share with the world but it was not necessarily what the world wanted to hear.

To avoid the waste of both time and emotional energy caused by failed projects you need to understand the mindset of a client. Your client doesn't care where your degree is from, or how good your grades were, they don't even care if you have a license or certification from the state.

All your client cares about is whether they can trust you to do your job.

And just exactly how do you get that across to your clients and your new prospects? How do they discover the trust you want them to have?

The easiest method is to become recognized as an expert. As an expert, you are looked up to and trusted.

But here, we're not just talking about being knowledgeable, we're talking about marketing yourself in a way that you are perceived as knowledgeable. We're talking about getting speaking engagements, writing reports, articles, and white papers. We're talking about becoming an author and getting published.

Sounds like a lot of hard work doesn't it? And then you’re faced with the problem of how to create all the papers, speeches and other work product you’ll need in order to appear to be a knowledgeable expert.

You could try to hire yourself a booking agent to get you speaking engagements, plus a ghostwriter to prepare speeches, articles and reports.

Since a booking agent works on a commission, you'll probably have a hard time convincing them you have any value as a commodity. The typical booking agent is going to be looking for somebody who can start at $2,000 to $3,000 per speaking engagement.

It's pretty easy to find a ghostwriter, but quite hard to find a skilled and knowledgeable ghostwriter, who can write about bookkeeping, accounting or taxes. If you find a writer who is skilled in these fields, then you're probably looking at something like $1,000 a page to write a typical report. Certainly not the $5-$10 a page you find people quoting on the Internet.

When you are presenting yourself to your local market, you need to be able to present knowledge and expertise, whereas on the Internet it's mostly about having relevant keywords that match the search engines spider's algorithm.

You try giving a speech full of keywords (commonly referred to as buzzwords) to the local Chamber of Commerce, you will absolutely lose any credibility you may have had.

Probably the easiest solution is to find yourself a mentor, possibly a retired accountant or financial professional, with a penchant for writing. If you get lucky, they may even have a drawer full of old reports and speeches they developed when they were in active practice.

If so, then they may be willing to let you use their materials as a resource. Be prepared to pay a small price, either by purchase or royalty, if necessary.

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Friday, March 20, 2009

Create More Revenue by Outsourcing Bookkeeping Services

Any organization whether big or small spends a huge amount of time, energy and resources on day to day bookkeeping, tax preparation and accounting services. This often adds little or no value to the organization's core development or requirement. By outsourcing bookkeeping services to India, businesses increase their profitability, improve company focus and enhance their flexibility to respond to key business issues. Businesses, CPA's and Accounting Firms who outsource their bookkeeping services and accounting work to Indian companies find that they have a virtual back-office right from set-up, support and maintenance to consultancy.

A few of the services offered are

•· Entry of transactions

•· Journal entry

•· General Ledger entry

•· Assets /Equipment Ledgers

•· Expenses Ledger

•· Accounts Receivable

•· Accounts Payable

•· Bank Account Reconciliation

•· Financial Statements preparation

•· Trial Balance

•· Income Statement (Profit and Loss)

•· Balance-sheet

•· Cash Flow Statement

  • Computerized processing of all checks and bookkeeping information
  • Bank statement reconciliation
  • Preparation and review of monthly financial statements
  • Maintenance of employee and sub-contractor earnings records
  • Preparation of all tax processing
  • Preparation of year-end W-2 and 1099 forms
  • Day-to-day bookkeeping and accounting
  • Quarterly balancing of books
  • Quarterly production of Management accounts
  • Quarterly production of Vat returns
  • Annual accounts and tax returns preparation
  • Submission to Inland Revenue
  • Expert tax advice to minimize tax liability
  • Adjustments to year-end accounts

With the use of up-to-date accounting software such as MYOB and SAGE, QuickBooks (all versions), Quicken, Peachtree, Intuit ProSeries, Intuit Lacerte, Net Suite, Creative Solutions Accounting, Master Builder, Business Works etc., Indian outsourcing companies offer their clients the choice of various accounting services at a much lower rate with the benefit of a highly productive work force.

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