A large number of accountants in Australia have chosen to use a fee funder or a professional fee financier to help improve their practice’s cashflow.
The benefits of choosing such an alternative are ample; however a few accountants are still reticent about the subject. Here are some points for consideration:
1. Offering your clients an alternative form of payment can be simple and safe. If you use the right professional fee financier, you will be able to guarantee payment of your fees within a few days of invoicing.
2. Research indicates that a good percentage of accountants’ clients would prefer to pay some of their professional fees on a monthly basis – that includes not only bad debtors but good paying clients too. Many resort to using credit facilities (i.e. overdraft, credit cards) which can be costly. There are a few professional fee financiers in Australia that provide a low cost and tax efficient finance option for clients to pay their accounting fees.
3. By having alternative payment options, your clients may have more time and energy to appreciate the value that you add to their business, rather than just worry about the fees they need to settle at the end of the year or at the conclusion of a job.
4. In the attempt to increase cashflow, a number of accountants are guilty of acting as a bank for their slow paying clients. A good professional fee financier or fee funder will help you unlock much of the cash within your debtors’ ledger, at no cost.
5. Some professional fee financiers work purely with the accounting industry. Specialising within a core sector enables them to provide high levels of knowledge and professionalism. This protocol ensures quality of service and that long term guarantees are met.
If you are looking for a reliable way of increasing your cashflow, why not consider offering your clients a simple and safe monthly payment option?
Click here to learn more about feeLink and how to improve your practice’s cashflow.
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