Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Accountancy Costs for SME

  • 29-06-2011 8:27pm
    #1
    Closed Accounts Posts: 9


    Prepare year end accounts for a company with turn over of 650k this year, down 50 % on last number of years. approx 50 invoices monthly prepared and logged onto TAS boks by my clerical staff. All revenue issues done by my clerical staff and all payroll duties done by my clerical staff.

    I ve been paying the same fee for the last number of years and am going to request a reduction this year in line with my turnover. What would you think is an acceptable fee for this?

    Thanks in advance guys it s it feelds hard to bargain with your accountant even though he should be the easiest seeing as he knows the exact situation...


Comments

  • Registered Users, Registered Users 2 Posts: 881 ✭✭✭censuspro


    Based on what you've described, I would hazard a guess your being charged €4-5K. The average fee for audit exempt limited company, 2 directors tax returns and company secretarial in €3K. However, that can vary depending on the type of business and how complicated your tax return is.

    Can you tell us what your accountant is currently charging?


  • Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭kennyb3


    Agree with the above I think your looking at 1.5k-3.5k depending on complexity.

    I doubt you ll secure a 50% reduction in line with turnover for an audit exempt company as there is still likely to be most of the same work still involved. (and no sales & purchases testing as not an audit).

    In saying that id expect a significant reduction - we ve been reducing clients fee in so far as possible for the last couple of years (anything from 5 - 25%). So really i would of expected to see a fall before now.


  • Closed Accounts Posts: 9 black diamond


    Thanks guys really appreciate the replys. I ve been paying between 7.5k for the last five years and thought it was a bit much to be honest. Reckon 5k would be more like it. Have you any ideas how i could approach this? I was going go down the reduced turn over route but there maybe a better argument im not aware of including current trading conditions..


  • Registered Users, Registered Users 2 Posts: 881 ✭✭✭censuspro


    Thanks guys really appreciate the replys. I ve been paying between 7.5k for the last five years and thought it was a bit much to be honest. Reckon 5k would be more like it. Have you any ideas how i could approach this? I was going go down the reduced turn over route but there maybe a better argument im not aware of including current trading conditions..

    €7.5K is a nice fee, even €5K is a nice fee and I'm sure your accountant won't want to lose your business. Tell your accountant that your considering putting the job out to tender and that you have a fee of €5K in mind. I'm sure your accountant will come to an agreement.


  • Registered Users, Registered Users 2 Posts: 81 ✭✭seco


    I suggest that you talk to your existing accountant let them know the level of service required (basic compliance servive = accounts prep, CT returns and CRO returns and possibly directors income tax returns) ask for fees to be reviewed without reference to a figure. Let them put a value on their work and discuss the amount and service with you. Their response will tell you a lot. I would be happy to quote for your business! PM sent.


  • Advertisement
Advertisement