Accounting and Bookkeeping Articles

In this economy, the race isn’t won by the quickest, but by the most agile.  As you rethink your business, consider your flexibility.  Unlike large corporations that are unable to quickly change course, small businesses have the advantage of being quick and nimble, which just might be their saving grace.

The current recession is requiring many entrepreneurs to adapt and evolve their businesses, altering their approach to better suit the ever-changing market and consumer needs.  So stretch yourself as you consider how you might improve your flexibility by applying the following four tips.

1. Take advantage of technology

If you’re not careful, you could miss the technology train and all the great, economical marketing techniques that go with it.  The following two suggestions will lure the technologically savvy and/or those that are impressed with your ability to remain current:

Build a Business website. If you don’t already have a website, you should get one.  Progressive businesses have an internet presence; it speaks volumes of their professionalism and ability to keep up with current trends.  A good website will represent you well and increase your clientele.  It will also work 24/7 as a virtual receptionist, getting the word out about your business while you spend your time doing what you do best: accounting.  And if well developed, your business website can act as an inexpensive marketing tool and a good point of contact.  It can also help to further brand your business.

Universal Accounting Center (UAC) has a website development tool, available exclusively for accounting, tax, and bookkeeping professionals.  Visit our Accountweb site to learn more about how you can have a website of your own in a matter of days.

Take advantage of social networking.  From Facebook to Twitter, more and more businesses are taking advantage of social networking tools in order to broadcast news about their services, and most of these tools are free!

2. Rethink your marketing strategy

The same old approach you’ve used in the past probably isn’t very effective in this current financial climate. If you build a business website and take advantage of social networking, you’re on the right path.  Also consider other demographics that might now find your financial services especially helpful.  And don’t give up on prospects.  The recession has caused many to be more selective when it comes to spending their money; often this means that prospects take longer to commit. 

3. Listen to your clients

They can best tell you how to alter your approach in order to better suit their current needs.  Tap into their expertise as consumers to determine what they’re most concerned about; while you may not consider this a service your currently offer, you would be surprised at how appreciative your clients become when you resolve their financial concerns.  And isn’t that your expertise?

4. Expand your services

In listening to your clients and trying to better meet their needs, you will find that many desire you to expand your services.  Becoming a one-stop financial shop would be much more convenient for them, and lucrative for you!  Adding tax preparation services to your menu will increase your clientele while making your services more appealing to current clients.

The Professional Tax Preparer Program!

Universal Accounting Center’s tax preparer program contains all of the following:

• Video Instruction
• Full 1040
• Full Business Returns (1065, 1120, 1120S)
• Step-by-step instruction in starting a sole practitioner
• One Year Follow-up Support from expert tax preparers

And while many programs will lecture you on tax law and preparation practices, Universal’s program is effective because it provides the practical application that will perfect your skills.  Theory is taught as guiding principles, but the focus is on actually doing taxes to gain proficiency.

The PTP course consists of 20 hours of video training. Most tax preparation courses include books and some worksheets. Our training is very engaging and entertaining as seasoned tax preparers give practical advice on not only tax issues, but provide real-world solutions to give you the edge in productivity and profitability. Our instructors know what challenges you will face because they have been there themselves.

To be honest, you don’t need a Professional Tax Preparer designation to prepare taxes.  Currently, there are no qualifications for any individual to complete tax returns.  But in today’s world of complex tax laws and increasing tax fraud occurrences, tax payers are looking for specialists with credentials.  It affords clients peace of mind to know that the individual they’re working with is qualified and knowledgeable.  It also affords the tax preparer peace of mind to know they’ve been properly trained.  Universal recognizes the value of a professional designation and awards the Professional Tax Preparer designation to those who successfully complete the program.

Modules in the Professional Tax Preparer program include the following:

Module 1: Establishing the Tax Foundation

Module 2: Becoming the 1040 Expert

Module 3: Profitable Business Returns

Module 4: Building Your Successful Tax Practic

In just 20 hours you will be ready to face tax season with confidence and ease.  One tax season alone will prove lucrative enough to pay for the program 3 times over!  Increase your flexibility, and enroll in the Professional Tax Preparer Program today!

10 Tips in Establishing and Maintaining a Healthy Client Connection

Last week we discussed securing clients with effective follow-up calls.  Your job isn’t over once that prospect joins your clientele; you must continually manage client relationships in order to ensure customer satisfaction and a good working rapport.  This doesn’t need to take a lot of time, but you must continually be aware of your current standing with clients and take measures as necessary.  In this series we will discuss 10 things to remember when managing client relationships.  This week we will cover 5 of those tips:

1. Determine client expectations upfront

Many of your clients may not have worked with an accountant or bookkeeper before and are unsure what to expect.  The rest have and may be running on old expectations.  It’s important to have a preliminary meeting where you define the relationship and your expectations, taking special note of what your clients expect from you.  You may need to negotiate some of these expectations so that both you and your client are satisfied.

2. Have a contract with clear specifications

You shouldn’t perform any services for a client until he or she has signed a contract detailing the specifications of your working relationship.  And don’t allow a client to sign a contract blindly.  Verbally discuss some of those specifications that will influence your future interactions.  For example, if your contract covers specific services, and you plan on charging for any additional services not specified in your initial agreement, tell the client that upfront.  This is one key step in establishing a healthy relationship with your client, and it’s much easier to establish a healthy relationship than it is to fix an unhealthy one.

3. Establish and honor boundaries

You must establish and honor your boundaries with a client.  This includes work hours and communication.  Once you establish these “rules” with a client it’s important that you consistently follow them yourself.  For example, consider your work hours. Obviously emergencies happen, and your clients should know how to reach you in such circumstances.  But otherwise you need to do all you can to ensure your boundaries are respected.  This means you shouldn’t answer your phone after hours.

4. Communicate often

You should establish a method of regularly reporting to your clients in order to distribute key accounting data and inform them of any red flags or key indicators they should be aware of.  Discuss a method that appeals to both of you.  Some may prefer email while others would like a verbal report over the phone.  Whatever the case, you should not be afraid to communicate frequently if the information requires it.

5. Keep your promises

If you tell a client that you will submit a monthly report before the first week of the following month, don’t be late.  Your ability to follow through on your promises is not only a reflection of your professionalism but an expression of respect for your client.

Your ability to effectively manage client relationships can determine just how successful your business will be.  Without a clientele your business will fail; ensuring client satisfaction can come in applying these 10 tips for establishing and maintaining a healthy client connection.

Return next week when we cover the final 5 tips in effectively managing client relationships:

6.    Maintain professionalism

7.    Resolve conflict quickly

8.    Request feedback

9.    Remember your client is your best marketing agent

10. Part ways, when absolutely necessary

Grow Your Practice with Expertise and Marketing Know-How

There are a handful of ways you can improve your business, and only some of them will work.  We suggest growing your business by enhancing your expertise and your marketing skills.

Small-Business Expertise

You can better service your clients by specializing in small-business accounting.  Over 85% of the opportunities in the accounting field are within small businesses.  Universities prepare their students for corporate accounting which doesn’t address small business needs.  More than 50% of small businesses fail, and much of that failure can be attributed to lack of accounting expertise.  That’s where you step in.  With expertise in small business accounting, you can help small businesses succeed.

At Universal Accounting, we understand the needs of the small business like nobody else. We’ve helped people like you advance their career in small business accounting for over 25 years. The Professional Bookkeeper Program is designed specifically to address the needs of small businesses, and Universal Accounting Center’s small business accounting course is the most complete of anything else offered today.  And depending on your schedule and situation, it will only take you 60 hours to complete.  Imagine earning a professional designation in less than one month!

Marketing Know-How

One of the greatest challenges for many small business owners comes in the marketing.  You may love working with numbers but groan at the thought of promoting your services and expertise.  Universal Accounting Center understands this struggle and can help you eliminate it.

UAC has developed a turn-key marketing solution which will enable you to grow your business with our proven system.   You could work for years on a marketing plan, hitting and missing, only to find your business growing at a snail’s pace.  Imagine learning which marketing strategies work in just a number of weeks!

The Universal Practice Builder is a training program designed to teach you the art and science of securing clients.  Top your Professional Bookkeeper Designation off with this guaranteed program where you’ll walk away with over 12 marketing strategies that you can implement immediately.

Enroll in these business-changing programs now!

Turn Prospective Clients into Current Clients More Quickly

You know the drill.  You’ve met someone who is interested in your services, and it’s time to make the follow-up call where you remind them of their interest and attempt to secure their business.  This can be a daunting and unpleasant task for many professionals who would rather clients fell more easily into their laps.  But, let’s face it-growing your clientele takes time and energy.  And in this case, 4 powerful follow-up techniques:

1. Provide a déjà vu moment

You must remind these prospects why they were interested in the first place.  This will require you to take notes following your first meeting.  Were they most interested in having someone else worry about payroll?  Did they like the sound of increasing their profitability by using accounting knowledge more effectively?  Or did they need professional help bringing their business back into the black?  Whatever the case, you must create a déjà vu moment where the prospect is reminded of what makes your services particularly appealing to their business.

2. Ask open-ended questions

You can’t engage a prospect in conversation by asking ‘yes’ or ‘no’ questions.  Before picking up the phone write down two to three open-ended questions (asking how, what, when, where, why…) that will help them reflect on their specific accounting needs.

3. Add value

The reason why many follow-up calls don’t work is because they simply remind the client of an initial meeting and ask if the prospect is still interested.  In order to enhance your appeal, you should use the follow-up call to increase your value to the prospect.  You might consider offering incentives that are catered to their unique needs.

In his ezine article entitled “The #1 Secret to Making More Effective Follow-up Calls, Glenn Fallavollita says that he has found more success in using the “Oh, by the way…” follow-up method than any other.  He provides the following script:

“The reason for my call is that I am just following up on the ________ I sent to you a few days ago. Oh by the way, many business owners like you are taking advantage of this _______ because they want to reduce their ________ by _____ %. - and I thought you would like to do the same. “

This is an example of how you can further peak a prospect’s interest by talking specifics regarding how your services can benefit their business.

4.    Don’t let a prospect turn cold

Whatever you do, don’t let too much time pass before placing a follow-up call.  The truth is, the longer you wait to revisit a contact, the more you’ve allowed the individual to forget why they were interested in the first place.

Follow-up calls are an important part of your business; without them it would be difficult to reconnect with prospects and, finally, secure their business.  If you want to grow your clientele, you’ll need to place many follow-up calls; implementing these 4 techniques will help.

Let UAC Help You Promote Your Business

Follow-up calls are just one way to promote your business.  If you want to grow your accounting practice, you’re probably interested in ways to attract new clients.  Unfortunately, many accountants and bookkeepers are unaware of how to market their services effectively.  That’s why, for over 25 years, Universal Accounting Center has been training professionals like you how to promote their businesses.  The Universal Practice Builder program will train you in the following (and much more):

• Increasing your annualized billings by $30,000 within the next 12 months
• 12 proven marketing strategies that will increase your client base
• Techniques that can generate 15 to 25 qualified leads per month
• Creating your own customized marketing plan
• Effective phone marketing techniques

In a matter of hours, you will know exactly what you need to do to grow your business.  Advance your accounting practice to the next level and become the premier firm in your area. 

Build Your Practice’s Prestige

One more way to make those follow-up calls more effective is by enhancing your firm’s prestige by enrolling in our Professional Bookkeeper program!  Designed to teach you the day-to-day accounting functions required by small business, this course will give you the skills and the confidence to act as a Profit Expert while you manage your clients’ books.  Here are just a few things the PB course will provide:

• Practical and extensive training in small business accounting
• The opportunity to earn valuable certification as a Professional Bookkeeper
• DVD training materials you can review again and again
• Hands-on instruction that will provide you with experience setting up and managing small business accounts from scratch
• Flexible training that you can master on your own time and at your own pace
• 6 months of follow-up support provided by knowledgeable accounting professionals
• An iron-clad guarantee

These two complementary programs will enable you to catapult your practice to the next level.  Take advantage of this opportunity and enroll in these two programs today!

Resources

Fallovollita, Glenn.  “The #1 Secret to Making More Effective Follow-up Calls.” Ezinearticles.com

Brian Tracy, professional trainer and Chairman and CEO of Brian Tracy International, offers business advice in his article entitled “Strategic Thinking.”  In it, he suggests approaching strategic thinking with a “two-prong” technique.  In doing so business owners can generate a higher return on their personal and professional energy, which in turn will create greater profitability.

Brain Power

While you may be a master accountant, when it comes to improving your business the most valuable tool you have is your mind.  Your ability to think strategically and plan for a more profitable future is your greatest asset.  Unfortunately, many feel too busy and overwhelmed to take the time to think about their businesses; they spend all their time managing it instead.

The best thing you can do for yourself and your business is to schedule time to think and plan for the future.  Tracy recommends a “two-pronged” approach in which you focus on increasing the return on the energy you invest in both your professional and your personal life.

Energy Investment

Everything you do requires energy; some activities require more and some less.  When you can optimize your return on this valuable investment you not only increase your longevity, but you increase your business’s effectiveness and your personal satisfaction.  Strategic thinking requires you to consider ways in which you can increase your return on this energy investment.  Tracy explains, “…your earning ability is nothing more than the total of the mental, emotional and physical energies that you can apply toward getting valuable results for yourself and your company.”

Action Plan

In order to see the results of your strategic thinking you need to develop an action plan through which you implement your well-measured thoughts.  First you must consider those services that bring the highest financial return to your business.  Tracy recommends that you do more of these things.  Second, consider those actions that bring the highest return on your personal energy.  Again Tracy recommends that you do more of them.

Using QuickBooks to Increase Your Business’s Effectiveness

In strengthening your professional appeal, you want to find those opportunities with a low initial investment and a high return.  One such opportunity is found in UAC’s Professional Bookkeeper’s Guide (PBG) to QuickBooks.  With a modest enrollment fee and a reasonable investment of your time and energy, this product can help you attract more clients while increasing your service offerings and billable hours.  Or if you’re currently employed, it will enable you to enhance your promotion-ability.

QuickBooks has cornered the small-business market with over 80% of owners using this accounting software to manage their financials.  And upon course completion you could earn the QuickBooks Specialist designation, enhancing your professional standing while bolstering your resume!

This training will enable you to master QuickBooks.  We teach you how to do the basic transactions, how to reconcile accounts, where the data goes, and a basic understanding of fundamental accounting principles. We have also included about 18 hours of bookkeeping instruction and a complete, detailed presentation of QuickBooks fundamentals.

This QuickBooks training program stands above others on the market by offering the following:

• Training targeted for all user types
• 16 CDs with 15 hours of training
• 4 books with over 800 pages of instruction
• Full color

In addition, when you purchase the Professional Bookkeeper’s Guide to QuickBooks, you will receive six months’ worth of free e-mail support with the program. This gives you an additional lifeline if you can’t solve a client or employer’s problem.

In less than one month you can increase your effectiveness by mastering a skill that will help you advance your career.  Don’t wait to improve your future.  Enroll in the PBG program now!

Resources

Tracy, Brian.  “Strategic Thinking.” 6 January 2009.  Brian Tracy International

7 Tips to Turn Prospective Clients into Current Clients

You’ve distributed your business card, given your elevator speech, and perhaps even treated a prospect to lunch.  But how do you close a sale?

Closing a sale is that pivotal moment when a prospective client becomes a current client, bolstering your client roster and contributing to your bottom line.  Unfortunately, for many accountants this can be the most daunting moment and one we sometimes bumble through or perhaps never tackle at all.

Closing a sale doesn’t have to be that difficult.  In fact, when you implement the following 7 tips, you may find that acquiring clients is the easiest thing you do as a contract accountant:

1. Avoid self-sabotage

Brian Tracy, motivational speaker and world-renowned business trainer, claims that three obstacles in closing a sale are fear-based: fear of failure, fear of criticism and fear of rejection.  Each of these obstacles has nothing to do with a potential client; however, they have everything to do with your perception of the situation.  When you can eliminate these obstacles of self-sabotage, replacing fear with confidence, you’re ready to approach just about everyone you meet with ease.

2. Recognize your value

Implementing the above tip becomes much easier when you recognize just how valuable your accounting services are.  When you yourself come to believe that your services can help make any business more profitable, it won’t be difficult for you to share that belief with others.  In fact, you’ll be excited to help others improve their business practices and become more lucrative.

3. Be upfront

No one likes a sneaky salesman.  When approaching a prospective client, be upfront about the services you’re offering.  Don’t be ashamed to disclose your fees; just be certain that you also share the value that accompanies those services.  What business wouldn’t be interested in enlisting the services of an accountant that can help them use accounting data to make more informed business decisions and increase their profits?

4. Read signs

It’s important that you closely observe a prospective client’s reaction to your conversation.  In AllBusiness.com’s article entitled, “Tips for Closing a Deal,” they recommend listening for statements that indicate a prospective client is ready to retain your services.  Questions like, “How much will it cost me?” or “What will it require of me?” are good indications that your prospective client is interested in retaining your services.  If they’ve stopped responding altogether, chances are it’s time to unearth and resolve any concerns they may have.

Being able to close a deal is a valuable skill to attain if you’re running your own accounting practice.  Without clients your business will fail.  To secure those clients you need to practice a few key strategies.  Return next week when we’ll cover the final 3 tips in closing a deal.

5.    Ask the right questions

6.    Offer a free trial

7.    Define specific terms

Increase Your Appeal by Offering Tax Preparation Services

Your practice will become even more appealing when you add tax preparation services to your menu.  Not only that but many tax preparers make more money in the months leading up to the April 15 tax deadline than others make all year long! Since all individuals and businesses, small or large, are required to file taxes, tax preparation is a respected skill that will always be in demand. And many of your current and prospective clients would probably be happy to have you file their taxes as well as perform the standard accounting services you currently provide.

Also consider who your clients will trust to file their taxes.  Countless individuals are scammed each year by people who claim to know what they’re doing.  More and more are becoming weary of tax preparers without any credentials.  The Tax Preparer Designation will put many of those individuals at ease, assuring them that you have been properly trained in tax preparation.

Take time this summer to acquire the expertise necessary to become a Professional Tax Preparer before next tax season.  UAC’s Professional Tax Preparer (PTP) program will not only give you hands-on training in completing full individual (1040) and business returns (1065, 1120, 1120S), but it will also provide you with the following:

• 20 hours of valuable video instruction
• 2 instructional manuals
• Step-by-step instruction in becoming a sole practitioner
• One year of follow-up support from expert tax preparers
• The opportunity to earn valuable professional certification
• Our iron-clad, risk-free guarantee

Increasing your service offerings could make you the premier financial provider in your area.  Enroll in the Professional Tax Preparer Program today, and improve your competitive advantage while securing your business standing in the local community.

Resources

“Tips for Closing a Sale.” AllBusiness.com

10 Common Characteristics of Successful Entrepreneurs

There are certain characteristics that will assist you on the road to entrepreneurialism.  And while some may come naturally, others can be developed and honed.  In this two-part series we examine 10 characteristics commonly found in successful entrepreneurs.  Last week we discussed the following 5 traits that we believe are success indicators when it comes to small business ownership:

1.    Passionate

2.    Organized

3.    Accessible

4.    Involved

5.    Progressive

This week we examine the final 5:

6. Respectable

Your reputation as an entrepreneur depends upon your honesty, integrity, and determination to always conduct business honorably.  Countless corporate officers have cost themselves and others their livelihoods because they believed that personal gain was more important than personal integrity.  Because of this, many individuals seek financial professionals who are respected in their community.

7. Time-wise

In order to be successful you must manage your time well.  Not being able to do so can cost you your business.  There are countless individuals with the necessary skills and expertise who mismanage their time and, as a result, mismanage their businesses.  If you are to be your own boss, you must be able to prioritize projects and allocate your time accordingly.  Too many become distracted by the freedom of self-employment and lose track of their businesses as they lose track of time.

8. Customer-oriented

You must be in tune with your clients’ needs and continually build your business with those needs in mind.   Your customer service techniques must be excellent, and you should periodically ask for feedback in order to ensure that they are satisfied.

9. Shameless self-promoter

This is difficult for some people, but in order for the word to get out about your business, you must be willing to talk about your work in glowing terms.  First this might require that you come to recognize and appreciate the value of your own services.  In offering others the opportunity to take advantage of your accounting expertise, you are providing them with informed insight that will enable them to make more profitable business decisions.  Once you become confident of your practice’s innate value, it becomes easier (and more natural) to promote your services.

10. An expert

Prospective clients are looking to pay a professional: an industry expert.  Your credibility is often verified with professional certification.  While you don’t have to become a CPA, you should invest in training that will enable you to earn a valid designation, like that of Professional Bookkeeper.

Earn the Professional Bookkeeper Designation!

Many programs require you take months, if not years, to earn some sort of professional certification.  UAC graduate, Scott Irvins, wanted formal accounting training and decided to do something unusual; he went to a local university to get an associate’s degree in accounting and he took Universal Accounting Center’s Professional Bookkeeper course.  After all that, Scott felt UAC provided more comprehensive accounting training in less time.  He explained:

“The Universal Accounting course - we were done in 4 weeks. I knew everything we needed to do was getting started. As to the other one [University coursework], in that four weeks I hadn’t even finished the first class yet, and 18 months later I finally had a little piece of paper that says I have a degree in computerized accounting. But from the get-go with Universal Accounting Center, their training was fast and simple. In looking at both, it was actually more comprehensive than the 18 month class. We had to do the entire extra general education things, and they broke the training up into little pieces, where in Universal Accounting Center you got the whole picture and you got to do it all in four weeks. It was great.”

The Professional Bookkeeper Program better prepares bookkeepers to serve small-business clients by training them in full bookkeeper and accounting services. Upon completion, qualified students receive the PB designation, assuring prospective clients that these UAC graduates are qualified to take care of the small business owner’s bookkeeping needs. In less than 60 hours you too can earn the Professional Bookkeeper (PB) Designation and develop expertise in small business accounting.

Enhance Your Credentials by Adding QuickBooks Specialist to Your Repertoire

You probably already know that Intuit’s QuickBooks accounting software is popular.  So popular, in fact, that over 80% of small business owners use it to track their finances.  With such a significant percentage, you’re at a disadvantage if you don’t know QuickBooks.

The Professional Bookkeeper’s Guide to QuickBooks is a self-paced program enabling you to skip the parts you may already know while taking the time to truly study those areas with which you’re not as familiar.  And once you complete the guide you can earn a designation proving to employers that you have certified QuickBooks expertise.

Invest in yourself by enrolling in two programs that will enable you to demonstrate your expertise to current and prospective clients.  Enroll in the Professional Bookkeeper program and the Professional Bookkeeper’s Guide to QuickBooks now and earn two professional designations to hang in your office by summer.  Enroll now.

You have a number of options in responding to the recession. You can 1) try to maintain status quo, 2) retreat, or 3) advance. Some of the most successful entrepreneurs have taken a more aggressive approach even in the worst economic times. They see an economic storm as the opportunity to strengthen their foothold so that when the tempest clears, they are found dominating the market.

You too can take a more aggressive approach without much risk. By simply adding tax services to your menu you can become a full-financial provider, edging out the competition in a matter of months. And with two professional designations and a handful of effective marketing strategies, you can be more than ready to dominate the market once the tempest clears.

Tax Services

From tax preparation to tax planning, you can offer a host of new services that will appeal to both current and prospective clients. In doing so, however, it’s important that you also provide professional credibility in order to secure their trust and loyalty.

Universal’s Professional Tax Preparer program provides you with solid training in the preparation of personal and business returns while enabling you to earn the PTP designation to accompany it. Through our unique hands-on training you will gain the confidence and expertise necessary to tackle just about any return. You’ll complete a number of forms and can move through the course at your own pace, mastering the content in your spare time. And once you enroll, you will have 12-months of follow-up support, enabling you to contact our tax professionals with any questions or concerns you may encounter as you work with clients.

The modules in this course include the following:

1. Establishing the Tax foundation

• Getting Started
• Wages, Salaries, & Tips
• Schedule B - Interest/Dividend Income
• Schedule C-EZ and Schedule F
• Schedule D-Capitol Gain (or Loss)
• Retirement Income
• Schedule E - Income (or Loss) from Rental Property/Royalties/partnerships/SCorporations/Trusts
• Other Types of Income
• Occupational Adjustments
• Educational and Personal Adjustments

2. Becoming the 1040 Expert

• Standard vs. Itemized deductions - Part A: Medical/Taxes
• Schedule A - Part B: Int/Char/Theft
• Schedule A - Part C: Job/Misc.
• Calculating the Tax
• Non-Refundable Credits - Part A
• Non-Refundable Credits - Part B
• Other Taxes
• Payments & Refundable Credits
• Closing the Return

3. Profitable Business Returns

• Business Entities
• Tax Elements in Accounting
• Financial Components
• Dispositions of Business Property
• Schedule C
• Form 1065
• Form 1120
• Form 1120S

4. Building Your Successful Tax Practice

• Getting started Right
• Effective marketing
• Comfortable Interviewing Techniques
• Profitable Fee Calculations
• Always the Expert Preparer

Many tax preparers make enough money during tax season to live on for the remainder of the year. Imagine enjoying that kind of “raise” in a recession! But why stop there?

Small-Business Accounting

In addition to tax services, you can enhance your professional appeal by mastering small-business accounting and earning the Professional Bookkeeper (PB) certification. This program is designed to help you serve this niche market in desperate need of a Profit Center Expert, a title that could easily be yours. Whether you’re a novice or expert accountant, this program is designed to train you to start or grow a successful and lucrative business as a Professional Bookkeeper. The modules include:

1. Accounting Made Easy

This module will enable you to master the tools, procedures, and underlying principles that make up the bookkeeping processes of all businesses. Once completed, you will understand the core building blocks of Accounting and Bookkeeping.

2. Practical Small Business Applications

In module two you will apply your understanding of the core accounting principles to specific industries. You will learn to set up books from scratch, do payroll like a seasoned pro, and much more.

3. Advancing Your “Account-Ability”

This module exposes you to sure ways to set up complete bookkeeping systems and manage the books for a variety of more sophisticated industries.

4. Building a Success Accounting Service

In this module you will learn the steps to finding paying clients. You will be fully equipped to start and grow a successful accounting practice.

You can see that the last module will equip you with valuable marketing techniques you can use to secure paying clients. Like the PTP program, the PB course will enable you to move at your own pace, mastering the content as quickly or leisurely as you desire. Once completed, you can have two designations to add to your business card (PB and PTP) and a full-financial practice that will attract more clients, increase your bottom line, and help you become the premier financial professional in your area. Don’t allow the recession to force you into retreat. Advance today by enrolling in these phenomenal programs today!

As the recession deepens for many small business owners, you may find yourself surrounded by fretful clients who worry where this economic downturn will take them.  As their accountant, you may become akin to a financial therapist, alleviating their concerns whenever possible.  If thus far you’ve wondered how you might calm your concerned clients and point their thoughts in a more positive direction, we have 5 suggestions:

1. Listen and acknowledge their concerns.

First, it’s important that you listen to and acknowledge their feelings.  Allow them a few minutes to express themselves and release all those negative thoughts.  With this step we suggest you don’t indulge their fears too much; obsessing about them will only cause them to expand in their minds, becoming more overwhelming and insurmountable.  At some point you are responsible for turning to the conversation in a more positive direction.

2. Don’t avoid the monster in the closet.

While it’s important to be positive, you shouldn’t avoid their greatest fears.  What happens if their cash flow decreases?  How much can revenue dwindle before their business is in trouble?  While addressing these fears, help them maintain a realistic perspective.  What’s their current financial standing?  And in looking at key indicators, what needs to change in order for their business to remain or become profitable?

3. Be positive.

Regardless of how frightened your clients may be, it’s your job to remain positive.  If you indulge their fears and jump on the worst-case-scenario bandwagon, chances are the negative energy will propel you both towards failure.  You must help them see that regardless of how bad things may seem you can always take measures to improve them.  Remind them that the more positive they are, the more positive their situation will likely become.

4. Remind them of your value.

Thank heavens your clients have an accountant to help them through the recession!  Who better to help lead their business as it barrels through this economic storm?  Remind them that you’re there to assist them through any financial difficulty, watching those key indicators and informing them how they might use your accounting data to make more profitable business decisions.

5. Establish a Recession Plan.

It always helps to have a plan.  And developing a Recession Plan may be just what your clients need to feel at peace regarding their business’s future.  As you share their current standing, interpreting the accounting data in a way they can best understand, have them determine where they would like their business to be and establish some goals your client can work towards in order to see that happen.  The more specific the goals, the better.

It’s important that you acknowledge your clients’ concerns and help them work through them, coming to terms with their current financial standing and taking measures to improve them.  As you help your client better manage their business through this recession, you’ll find the efforts are well worth the customer loyalty you will certainly secure.

Secure Your Own Standing

You may be feeling a little recessional stress yourself.  You can secure your own standing in these difficult times by earning professional designations that will put your clients at ease while enhancing your service offerings.

Professional Bookkeeper (PB)

UAC has designed a curriculum specific to the needs of small businesses, and Universal Accounting offers the most complete small business accounting course anywhere.  The Professional Bookkeeper Designation assures clients that you have been properly trained in small business accounting and will help you know what those clients need most from you.

Professional Tax Preparer (PTP)

Many tax preparers make more money in the months leading up to the April 15 tax deadline than others make all year long! Since all individuals and businesses, small or large, are required to file taxes, tax preparation is a respected skill that will always be in demand.  And many of your current clients would probably be happy to have you file their taxes as well as perform the standard accounting services you currently provide.

Also consider who your clients will trust to file their taxes.  Countless individuals are scammed each year by people who claim to know what they’re doing.  More and more are becoming weary of tax preparers without any credentials.  The Tax Preparer Designation will put many of those individuals at ease, assuring them that you have been properly trained in tax preparation.

So consider securing your practice’s current standing by adding two professional designations to your name.  Learn more by visiting Universal Accounting Center today!

The old adage claims you’ll find strength in numbers.  In these tough economic times, it helps to have solid business alliances with which you can grow your business and solidify its standing.  When you partner with other businesses, you have access to a professional support group that helps you garner more referrals, access experts in other fields, and take you business to the next level.  But before you align yourself with anyone, you should attend to the following three things:

1. Select organizations with compatible business objectives.

Like any relationship, you should choose a business that is compatible with yours.  Professions that correspond well with accounting include loan officers, checking representatives, financial planners, insurance representatives, lawyers, etc.  If you were the CEO of a large accounting firm then you would try to connect with leaders of organizations that complement your business’s size and prestige.  If you are a contract accountant with a handful of clients, then you would look to other small business owners or employees of like organizations.

It’s also important to ensure that your business objectives are similar.  For example, when you partner with an organization that values customer service, chances are you’ll receive referrals from individuals who expect to be treated well.

2. Ensure the partnership is well balanced.

Participating businesses should equally contribute to the alliance.  All should be willing to commit to regular meetings and efforts that benefit all involved.  Before agreeing to join an alliance you must ensure that all parties are ready for the commitment and involvement required.

3. Determine your alliance goals.

Once you’ve selected the participating businesses and verified the commitment of all parties, you can determine your alliance goals.  What are you bringing to the table?  Consider introductory services you could provide their clients at no cost: QuickBooks seminars, tax consultations, or business assessments.  All of these would benefit their clients while exposing them to your professional expertise.

You should also know, specifically, what you are looking for in return.  Do you just want a list of referrals or would you prefer a glowing, personal endorsement from the potential partner?  Unless you are specific in the terms of your alliance, one or more parties are likely to be disappointed with the relationship.

Universal Accounting Center Can Help You Promote Your Practice

Building profitable business alliances is just one way to grow your business by increasing your clientele with referrals.  In fact we teach you how to do just that, using a variety of proven methods, in our Universal Practice Builder Program, which is designed to train you how to promote your accounting practice. In fact, for over 25 years we’ve taught professionals like you how to grow their businesses and market their services to those who need them most. Also called Marketing on Steroids, here’s just a sampling of what you will gain from enrolling in the Universal Practice Builder program:

• A guarantee of $30,000 in new annualized billings in only 12 months
• 12 marketing strategies that you can implement immediately
• A process which can produce 15 to 25 qualified leads per month
• 3 months of coaching via telephone and Internet
• Training on a computerized database tracking program
• A presentation DVD to show potential clients

Student Testimonials

I now have tools I can really use to take my business to the next level from a marketing standpoint. The staff was great and had great ideas. - Michelle C.

A must attend seminar if you are serious about becoming an accountpreneur. We would highly recommend this seminar so you can learn how to work on your business not in your business. - Joe H.

Universal Accounting Center Can Help You Establish Your Practice’s Prestige

Enhance your business alliance with UAC by enrolling in our Professional Bookkeeper program!  Designed to teach you the day-to-day accounting functions required by small business, this course will give you the skills and the confidence to act as a Profit Expert while you manage your clients’ books.  Here are just a few things the PB course will provide:

• Practical and extensive training in small business accounting
• The opportunity to earn valuable certification as a Professional Bookkeeper
• DVD training materials you can review again and again
• Hands-on instruction that will provide you with experience setting up and managing small business accounts from scratch
• Flexible training that you can master on your own time and at your own pace
• 6 months of follow-up support provided by knowledgeable accounting professionals
• An iron-clad guarantee

Student Testimonials

I can honestly say that the hands-on training from Universal Accounting Center was far more helpful than that of my degree program. The training I received in you class was superb, exactly what I needed for the type of accounting business I was trying to start. I have been so pleased with the training I received from you, that my two part-time employees are currently taking your course. - S.A. Ivins

I learned a lot and it was a good investment in my future.- B. Stracher

With UAC’s iron-glad guarantee, you have nothing to lose.  Take advantage of UAC’s Power Package, and enroll in these powerful programs today!

True Life Success

Wouldn’t you like to sit down and have a good, long discussion with someone who’s living your dream?  Someone who could offer advice, tell you what to do, what not to do, and prove that what you’ve always wanted is possible?  If you want to build a thriving accounting practice, then we have the motivational conversation for you.

Scott Barhold completed the Universal Practice Builder program last year and he’s currently finishing the Professional Bookkeeper Program.  Learn from his experience and see just how these two Universal programs can change the face of your business, for the better.

Growing His Practice

The UPB program is designed to teach financial professionals how to better market their services; it also guarantees that graduates will increase their annual billings by at least $30,000 in just 12

months.  When asked how the program has benefitted his bottom line Scott replied, “My practice has grown from $36k to $87k in the first 6 months, and this year my current projections are about $127K.  I did this by learning how to market what I do.”  That’s more than an initial $50,000 in increased billings with a projected increase of over $90,000 this year, and Scott has accomplished this in a very tenuous financial market.

Scott explained, “The greatest benefit [of the UPB] for me was the understanding of what I needed to make my practice a success and the ability to achieve it.  [It] taught me how to successfully market my product and say the right thing to the right people in the right way at the right time.”

He goes on to say that “going to Utah for the UPB workshop can be the difference between watching a sporting event and playing in it.  It is truly the dynamics that change.  You will come out with more than you could possibly imagine, and a road map of how to achieve it.”

Growing His Expertise and Experience

The Professional Bookkeeper Program is intended to train individuals in the day-to-day tasks of small-business accounting, enabling graduates to earn valuable professional certification.  While he has yet to finish the PB Program, Scott feels that the PB designation will help set him apart from his competition.

Much of Scott’s success stems from his positive attitude regarding his business and his life.  He realizes that his daily tasks are the building blocks for the future success of his business.

Scott described to us a typical day at the office:  “My day usually starts with a day plan, the tasks and meetings that I need to accomplish, and a look at the work in progress.  Each day has some marketing involved from e-mails, to letters, to advertisements, and networking.  Then it is off to execute the day plan.  All tasks must be checked before I can go home.  No sales day can end on a no; each must end on a positive.  This lays seed today for a better tomorrow.  To let a day end on a failure is to let today finish better than tomorrow will be.  That is not an acceptable direction for my plan, my business, or my life.”

Client Relationships

Scott believes that the true value of his clients is not in the quantity but in the quality.  “For instance,” Scott says, “One of my clients has over 100 gas stations- [the quality] is in what I bring to him and his businesses. I am currently bringing a uniformity in reporting of income and expenses.  This will make his life easier so he can do more of what he wants to do.”

Scott finds that his clients value face-time and communication.  He explains, “I think the service that I sell is peace of mind.  My clients know that they are going to spend time with me, and that they will feel more at-ease about looking at their financial report.  I constantly hear clients say, ‘My old accountant never went over this with me.’”

Challenges and Rewards

The most challenging element of his job is in finding balance.  “There is a delicate balance between marketing and production.  I had to learn how to effectively delegate tasks in order for the practice to grow.  I love what I do, and I have come to learn that it is a valuable skill to business owners, that many do not possess. But without delegation, I am limited to the amount of help I can give.”

“The most rewarding aspect is that I can help so many others get what they want.  Nobody wants a business that is flailing about.  By doing what I know best, many times I can help them see their business in a whole new light.  It is rewarding that my clients realize the value that I bring to their business–the relationship that builds as we set plans in motion to meet their goals and objectives.  I actually enjoy watching as we overcome obstacles as a team and celebrate milestone successes with my clients.”

Scott’s Advice to Those Starting and/or Growing Their Own Bookkeeping Practice

“Know what you are getting into.  Your clients will rely on you for information; spend the time to become an expert in your field so that you can help them… become an expert in theirs.  And to take something that I have learned from UAC - Believe in yourself, decide what you want, plan for success, and execute your plan!”

Learn more about these two programs that have helped Scott achieve the success he’s currently experiencing by visiting Universal Accounting Center today.