Why you should re-think retainers

Many entrepreneurs and SME owners feel that paying a retainer fee for their accounting is something only corporates do. That’s a misconception: having a remote accountant on retainer is a boon for your business.

Traditionally accountants bill in two ways:

  • By the hour, or
  • Itemised billing (for example, a single tax return).

Both are outdated pricing models because you don’t know what your business might need in the next month. Maybe you’ll need a lot of finance work done – but you don’t have the money to pay for it because it wasn’t anticipated. Or perhaps your business is seasonal, and you don’t need accounting services at the moment – but you will need an accountant come February.

With a value-based, fixed accounting retainer you wouldn’t need to worry about any of that – the only thing you’d have to focus on is growing your business.

A remote accountant on a retainer is the way to go

At YourCFO we use value-based pricing, which means that we work on a fixed retainer per month. This retainer includes all the work you’d need from a finance and accounting perspective for the whole year – and at the same price.

With a value-based pricing model you know what you’re getting into, and you can plan your business’s cash flow accordingly. If you’re using a retainer, but you know you’re going to have a couple of lean months, you can plan for that. Conversely, if you have a very busy month, your finance costs will stay the same.

Our value-based, fixed retainer services also allow us to plan better and manage our clients, which means that your business gets the attention it needs.


Don’t pay by the hour – pay for what you need 

YourCFO provides affordable accounting and bookkeeping packages geared towards SMEs and entrepreneurs. We understand that your needs are different from those of a big corporate and that not one size fits all.

The same goes for our retainer accounting and bookkeeping packages, which are tailor-made according to what your business actually needs. Unlike many other firms, our retainers include subscriptions to the latest cloud-based accounting software, such as Xero (cloud-based accounting software), SimplePay (easy-to-use online payroll software) and Receipt Bank (data-entry automation software). All of these are included in the retainer price, so there’s no add-on for software.

Having a qualified, remote accountant on retainer to manage your business’s finances is a must (and it’ll save you money, too).

Think it might be time to outsource your business’s accounting – and have the service on an affordable retainer? Contact us; we’re here to help.