Outsourcing your Australian compliance work to overseas is an important undertaking. If done properly, it can greatly improve the way you do accounting business and give you a more competitive advantage. With the time, money, and resources you will invest, you need to ensure that you get your money’s worth. Let’s quick go through the checklist below to choose the …
Selling your accounting firm: who is responsible for the retention of documents for past tax returns
In this highly evolving and moveable world, we’ve seen recently several issues related to record retention involving tax agents who have moved to other software providers, moved from desktop to cloud, or sold their practices but then needed access to the data. Instances where tax agents needed access to the data included one accountants who had accepted the client after …
What to look for in a dodgy “fly by night” outsourcing provider
Like everyone else, despite the fact we’re an outsourcing provider, our email inboxes are frequently filled with outsourcing providers offering their services. There are some great checklists online, but like virus and phishing spam, there are some quick “eye ball” checks you can do on an email arriving from a purported outsourcing provider. Here are our top 10 things you …
Australian compliance – discounting only comes back to bite you
Discounting to win work is probably the second most damaging thing an Australian accountant can do in their firm. Of course, the first is to allow “scope creep” or “write-offs” as a result of scope creep. So this week we’ll have a quick chat about why discounting is so damaging to your firm. Customers who ask for discounting usually have …
Australian accounting firm owners: It’s about managing Energy, not Time
A lot of the Australian accounting firm owners are hard pressed to manage the work they have inhouse, and come to talk to Odyssey when their growth is improving, or their resources shrinking in efficiency. And it may be that both may be happening at the same time. Earlier this week we spoke to an accounting firm owner whose bookkeeping …