Practice tip: The only seven ways accountants can make more money (legitimately)

This often leads to us considering the only seven ways you can achieve that. None of them involve dodgy tax schemes pricey tech or exhausting marketing campaigns.

1. Increase your fees: Still charging the same as three years ago? Too many low-paying legacy clients? Inflation and rising costs justify a review. The fear they’ll all leave is usually unfounded.
2. Get paid faster: Bill promptly take upfront payments collect by direct debit and promptly chase overdue invoices. Most clients respect a professional billing process.
3. Work more efficiently: Encourage better client data streamline systems use more tech better automate delegate or outsource.
4. Introduce more services: Clients often forget what else you offer. Many would prefer to pay you than go elsewhere. Don’t assume they’re not interested. Ask them what they need.
5. Provide more value (and charge accordingly): This is separate to offering more services; it’s about providing better service. Being...