Accountant's Minute 161
Welcome to Accountants Minute.
There are two major issues for accountants to consider relative to “future proofing” and SME debtors’ management:
The problems to be solved include:
The consequences of this are that the liquidator might then decide that some of the progress payments made to your client have been made in such a way that the liquidator deems that these payments were “preferential payments” and that the liquidator then issues a demand for the repayment of the “alleged preferential payments”.
Whilst your client might be able to get some re-dress from the courts, this is costly and might not be successful.
If your client had registered on the Personal Property Securities Register, in all probability they will have avoided this problem!
What do you need to do to perform your duties as the “Trusted Advisor” to your small/medium enterprise clients who, in most cases, will not be employing people with sufficient knowledge and training for this very important process?
The process commences with submitting a proposal and quotation to your client.
Advising your clients on improvements in debtors’ management is a proactive service that will assist your clients to operate their businesses and will contribute to “future proofing” your accountancy business because, in most cases, this will be a new source of fees. Indicative fees for these services, if you are utilising ESS BIZTOOLS’ products, are:
|Debtors’ Management Review||-||$900 to $1,800 (plus GST)|
|Debtors’ Systems Manual||-||$300 to $500 (plus GST)|
|Personal Property Securities Register Due Diligence Review||-||$900 to $1,800 (plus GST)|
SMEs need assistance from their “trusted advisor” to solve these problems. This is “future proofing” in operation.
ESS BIZTOOLS has developed a range of product packages to assist accountants to offer services for most services that SMEs require. You can subscribe to these packages individually or in an overall package. Individual product package subscriptions for the services mentioned in this commentary are:
|Debtors’ Management Review Package||-||$440 (incl GST)||(Click here) for details|
|Debtors’ Systems Manual||-||$242 (incl GST)||(Click here) for details|
|Personal Property Securities Register Due Diligence Review||-||$550 (incl GST)||(Click here) for details|
These packages are also part of the ESS BIZTOOLS’ Silver package which is the featured “new financial year promotion” with a 25% discount for 24/7 access for 12 months for $1,641.75 (incl GST) normally $2,189. For details of the ESS BIZTOOLS’ Silver package please click here.
If you would like to view a 30-minute webinar on Debtors’ Management utilising the ESS BIZTOOLS’ product package click here.
You are invited to participate in free webinars being presented by ESS BIZTOOLS:
(Click here) for a complimentary copy of the ESS BIZTOOLS’ Business Plus Client Newsletter for July 2018 which you can badge and send to your clients. The newsletter is targeted at SME clients and prospects. This edition contains commentary on:
If you are interested in accessing ESS BIZTOOLS’ Business Plus Client Newsletter on an ongoing basis, you can subscribe for this individual product (which is also available as part of the ESS BIZTOOLS Silver package) for 12 months. (Click here for details).
If you have any questions on any aspect of the products or services being produced by ESS BIZTOOLS to assist accountants to “future proof” your businesses, please do not hesitate to contact us – email@example.com or telephone on 1800 232 088.
Have a great day!
Watch out for the next episode of "Accountant's Minute" or subscribe to the podcast on iTunes for more news, ideas and tips on providing outstanding non-compliance services to SME clients.
Episode 161 - “Future Proofing” Includes SMEs Debtors’ Management
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