If you are running your own business, it is pretty much inevitable that you are going to require the services of an accountant at some point. When you are just starting out, you may be able to handle the numbers yourself, but as your business grows, so does the headache of keeping all your finances in order. It’s at this point that you are most likely going to start looking for professional help.
But like with most things in life, and all things in business, nothing comes for free. For creative businesses we know that every penny counts, particularly in the current climate. Thus, hiring an accountant becomes an added expense that you want to know:
1. How much it is going to set you back, and
2. That it’s worth the money.
So if you have caught yourself wondering, ‘How much is an accountant?’, we are here to shed some light on the matter.
Unfortunately, asking how much an accountant costs is akin to the old adage about the length of a piece of string
Not very helpful, we know, but it’s the truth.
The cost of hiring an accountant varies widely. But there are several factors that we accountants base our numbers on, so let’s break down what affects the price.
The scope of services – Accountants can offer a range of services from bookkeeping to more complex financial planning. No prizes for guessing that the more complex the service, the higher the accountant will charge. For example, a bookkeeper handling your day-to-day transactions will cost less than an accountant providing overarching strategic advice and financial reporting.
(Tip: If you’re unsure about the difference between an accountant and a bookkeeper, check out our blog – What is the Difference Between an Accountant and a Bookkeeper?)
The accountant’s experience and expertise – Just like any profession, the level of experience and expertise of the accountant will influence their rates. An accountant with years of experience specific to your industry will naturally charge more. But this means their insights are undoubtedly going to provide more value to your business.
The size of your business – The complexity of your business’s finances can impact the cost. A larger business with multiple revenue streams, employees, and complex transactions will require more time and skill, resulting in higher costs than, say, if you are a one-man band – literally or figuratively.
Accountants can sometimes feel like they are working away under cloak and dagger, not revealing their secret or telling you what is really going on. You might be unsure what they are even doing.
We know, as a savvy businessperson, if you are shelling out your hard-earned cash, you want to know not not just how much an accountant is, but where you are getting a solid return on your investment.
In other words, what is the value of hiring an accountant?
Saves you a lot of time – Managing your finances can be time-consuming. Funnily enough, as experienced accountants for creatives,we know this. By hiring an accountant, you free up time to focus on what you do best—running and growing your business.
Ensures your books are up to scratch – Accountants ensure your financial records are accurate, up-to-date, and compliant with the latest regulations. So you can avoid costly mistakes and potential penalties.
Gives you strategic advice – A good accountant isn’t simply a walking, talking calculator, but a financial strategist who can provide valuable insights into your financial health, helping you make informed decisions and plan for the future.
You get peace of mind – Perhaps one of the most valuable benefits of hiring an accountant is the peace of mind they give you. Handling finances can be stressful. We all know this. Knowing that a professional has got it covered allows you to focus on other important aspects of your life or business and lets your creativity flourish.
When considering how much an accountant is, remember that the cheapest option isn’t always the best. It’s crucial to find an accountant who understands your business and can offer the services you need.
While the upfront cost of hiring an accountant may seem high, the long-term benefits should far outweigh the initial expense. Accountants can identify tax deductions, come up with financial strategies, and uncover opportunities for cost savings that otherwise might get lost in the shuffle.
So how much are accounting services at Raedan?
So now the question you’ve all been waiting for: how much do we charge as expert creative industry accountants? Drum roll, please…
Sorry, but we don’t have a definitive answer.
But that’s not because we are trying to pull the wool over your eyes. Here at Raedan, we will be the first to admit we don’t offer bargain-basement prices, nor do we take a one-size-fits-all approach. Our prices reflect the personalised services we provide.
In fact, we want to take the confusion out of accounting. Accountants can get a bad rap of being guys stuck behind desks working with the numbers but never really telling you what’s going on. We want to change this.
We know that no two businesses are the same, and neither is our pricing. From taxes to payroll, we understand every business has different needs and is looking for different types of service.
Why our pricing is tailored just for you
Whether you’re a startup needing basic accounting support or a high-flying company seeking comprehensive financial management, we develop a pricing strategy that reflects the scope and complexity of the services you need.
Flat rates might seem convenient, but they can often lead to overcharging or under-delivering. By tailoring our pricing to each business, we ensure that you only pay for the services you require and that you receive the highest level of attention and expertise, guaranteed. Our pricing strategy is based on a thorough understanding of your business.
Here’s how it works…
We start with an initial call where we learn all about your business, your goals, and your specific accounting needs. Once we have gotten to know each other and if you think we are a good fit, we will then come up with a customised pricing plan for you to mull over.
For us, transparency is key, so there are no hidden fees or unexpected charges. Our pricing will outline the services we recommend and provide you with a detailed breakdown of costs.
We will be the first to admit if you are looking for an accountant for the same price as your monthly gym membership, then you will be somewhat disappointed. The phrase “you get what you pay for” aptly springs to mind.
This doesn’t mean you should go with the priciest accountant on the market, but trying to pinch every last penny is not a good long-term financial plan for your business, as you want an accountant that is invested in making your business a success. And when you choose the right one, you definitely get bang for your buck.
So what do you get with us?
Creative industry expertise
While we don’t like to blow our trumpet too much, as the go-to accountants for creatives, we understand the creative industries inside and out. We have always worked with creatives. It’s how our accounting business began.
So naturally we can offer much more valuable input than some generic accountant stuck behind his desk. We are passionate about what we do and passionate about the creative industries – from musicians to video producers to agencies – and this shines through in the service we deliver to our clients.
Ongoing support and guidance
Your wins are our wins. We are here to cut through the accounting jargon and help you to better understand your business and its finances. We believe in empowering our clients to understand how their finances work (or you can leave it all in our capable hands — it’s really up to you).
Flexibility and freedom
We know that when it comes to business, being adaptable is one of the keys to success. That’s why our pricing gives you flexibility and can be adjusted as your business grows and evolves. Whether you need additional services come tax time or more strategic support during a business expansion, we can adapt our offerings to meet your changing needs. Handy, huh?
The bottom line is we are not here just to simply add up the numbers, but to help your business succeed in its endeavors.
So if you’re ready to take the next step in your business by hiring an accountant, then get in touch now and find out what we can do for you and your business.
