A DOLLAR HERE…A DOLLAR THERE Watching the Bottom Line in Today’s Economy Presented by: Bill Parrish (oneplusone) 3

Those Pesky Disclaimers This Information is copyright protected by (oneplusone) 3 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. ing an image Provide client copies electronically

Delivery Costs Private Mail Delivery Services Post Office vs. Commercial Companies Train Clients to use mail 25 th 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

For Information About ConnectEd: Jodi Goldberg, Director of Member Services National Society of Accountants Ext 1304 About the Presentation Bill Parrish, Founder & CEO (oneplusone) Ext

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