A DOLLAR HERE…A DOLLAR THERE

Watching the Bottom Line in Today’s Economy

Presented by:Bill Parrish

(oneplusone)3

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and may not be reproduced or otherwise distributed without the written consent of (oneplusone)3

This presentation is for informational purposes only and should only be implemented by a practitioner after appropriate due diligence has been performed

Not all of the concepts and strategies proposed in this presentation may be appropriate for all practices. Careful study must be undertaken by anyone considering the implementation of these concepts and special attention should be given to individual state laws governing the practice of professionals.

How Many Dollars Can We Find?

Assume we work 220 days a year, Assume we could find a way to add

a dollar a day, every work day, to our bottom line

Do the math!

220 x 220= $48,400.00

2 Approaches Save those expenses whenever

possible Our profession is known as

conservative, fit the mold Pass along costs to clients

whenever appropriate As a professional service provider,

clients expect us to bill them for what they consume

Energy Costs Electricity

Replace light bulbs with fluorescent Use motion detecting switches where

possible Look at outside and security lighting

needs Adjust timers as seasons change Technology is an energy hog

Energy Costs Heating & Cooling

Install Ceiling Fans where possible Install Automatic Thermostats Use Centralized Controls Use Those Blinds Have Utility Companies Measure Your

Energy Efficiency

Paperless Does going paperless save money?

Paper costs vs. technology Escalating paper costs Storage costs Mailing & Faxing a copy vs. emailing

an image Provide client copies electronically

Delivery Costs Private Mail Delivery Services Post Office vs. Commercial

Companies Train Clients to use mail

25th letter Preprinted envelopes Postage paid usage

Use Sparingly Use a variety of sizes

Program Costs Don’t Overbuy Look for Association Discounts

Ask organizations to which you belong what is available

Ask vendors what is available Try to Avoid Add On Costs Negotiate, Negotiate, Negotiate

Technology Costs Don’t Replace Too Often Do You Really Need the Top of the

Line? Compare Products Don’t Overlook Used Can Resources be Shared?

Going Green It Is Socially Responsible

It Can Be Very Costly

Make Sure The Benefits Outweigh The Costs

Internet Based Applications

ASP (Application Service Providers) Always Up to Date Often Less Costly May Not Offer Same Features – or More

Remote Hosting Pass Out Some of Technology Costs May be Less Expensive than Upgrading

Equipment

Newsletters Create Your Own Look at Alternative Delivery

Methods Keep it Short Don’t do Too Often Printing is Costly, while

Electronic is Cost Efficient

Passing Along Some Costs Postage & Handling Copy Charges Delivery Charges Long Distance Costs Technology Costs Program Costs

Additional Billable Items Correspondence Assistance

Offer in Writing Require that the Client Accept or

Decline Now in a Position to Bill for Assistance

if Service Not Accepted Telephone Calls Additional Copies of Reports and

Returns

Additional Billable Items Insurance Audits

Set Minimum Fee Value Added Structure

Sales Tax Audits Get Retainer

Income Tax Audits Becoming More Common Place Get Retainer

Tying It Together Times Are Tough Indeed We Are Most Valuable Right Now Do Not Be Afraid To Pursue Accounts

Receivable Create Sense that We Need to be Paid

First Cut Off Services to Non Paying Clients

Determine to Manage Your Business to Maximize Profits

Ok, So What Can You Think Of?

NSA Creating a New Discussion Forum

What Will You Add to the Discussion?

Send your input to jgoldberg@nsacct.org

For Information

About ConnectEd: Jodi Goldberg, Director of Member Services National Society of Accountants 800-966-6679 Ext 1304 jgoldberg@nsacct.org

About the Presentation Bill Parrish, Founder & CEO (oneplusone)3

800-867-0065 Ext 1013 billparrish@oneplusone3.com www.oneplusone3.com

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