Wholesale Accounting

Wholesale Accounting falls into two main categories:

1. Clients (including clients of other Accountants)
2. Accountants and Tax Agents

Clients (including clients of other Accountants)

This is a unique service that allows you to access professional wholesale accounting services, previously only available to Accountants, with fixed quotes, and you can remain with your existing Accountant.

Save an average 50% off your accounting compliance bill.

Many Accounting firms have been accessing wholesale accounting services for years to help them complete your annual compliance work at a reduced cost to them.

This service covers all types of business from Sole Traders to Superannuation Funds.

Wholesale Accounting is a trend that is taking off around the world, with businesses having all their daily accounting work completed under this structure.

This service completes:

• Your annual account and tax return preparation ready to be sent to your Accountant for final adjustments on their software.
• Your quarterly/monthly account and B.A.S. preparation.
• Your payroll, accounts receivable, accounts payable and accounting work completed on a daily basis at a price that amounts to less than the full-time accounting staff you require.

You save by cutting out the middle-man. You just need to collect the data and provide the information to us by following simple checklists.

How does it work?

1. You complete our simple "Quote Sheet" and we will provide to you at no obligation, a fixed quote. Note: No other information regarding your business, your Accountant, your address etc needs to be provided - you are welcome to use an alternate name should you wish to remain anonymous.
2. You can accept or reject the quote.
3. Once you accept the quote, you complete our interview sheets and checklists and forward all information by courier (all quotes include transport costs).
4. We complete all your accounting and tax compliance work. We do not complete your tax planning or advice - this is provided by your Accountant.
5. All our work is completed on exactly the same software your Accountant uses so they can upload the completed job and complete your tax planning and End-of-Year adjustments - you do not need to change Accountants.
6. We can complete your daily / weekly / monthly / annual accounting and tax work at a fixed quote.
7. No job is too big or too small.
8. All work is monitored, reviewed and signed out by a qualified Chartered Accountant.

For completion of your daily accounting work, please contact us for an interview to discuss and fully investigate this service.

Accountants and Tax Agents

Do not be concerned about the location of our offices. We can provide this service anywhere in Australia, effectively and efficiently.

This service has been designed around the operations of a normal accounting practice, rather than as a separate business, with the intention of developing a service that would provide cost effective and fixed price support to Accountants completing client compliance work.

The normal procedure for completing any compliance work is (a simplistic presentation):

• Items in bold italics are completed by our wholesale service
• Items in italics only are completed with our assistance
• Items in plain text are completed by you

• Control of costs are usually lost at the quotation level, the initial completion of work level and the review and adjustment level.
• Most cost "blow-outs" can be traced back to simple errors, incorrect quotations to client, staff trying to complete too many tasks at one time and generally different staff reflecting different abilities and speeds to complete work, as well as some staff being more pedantic than others.
• Partners/Owners who are tied up in completing the compliance work rarely have time to maintain the relationship with the client and generate new work for later in the year.
• Finding and holding good support staff is extremely difficult today. Training costs, agency fees, time costs interviewing and keeping staff are becoming more of an issue every day for accounting firms on all levels.

BB Whitehouse Accountants began to develop a procedure that removed a vast majority of the difficulties being experienced by Accountants, at a cost that would not vary dramatically from the cost of employment and controlling staff.

Our wholesale service provides:

• Fixed upfront costs.
• All costs quoted before any client data is forwarded to us (with exception of simple quote sheet).
• Costs that generally amount to no more than 30% to 40% of the total fee to the client (this varies between Accountants and clients).
• Standard interview and data collection process.
• Common quotation system to ensure consistency in all quotes given.
• Accurate time scales to complete.
• Professional staff controlling, signing out and reviewing all work and, as such, providing guidance to partners/owners on matters that require review or attention (hence technical support).
• All work to be processed on the accounting software utilised by different accounting firms eg Handisoft, Solution 6, MYOB etc.

After years of testing and developing, this service has been achieved utilising proprietary I.T. operating platforms and software, unique staff structuring and a cost controls system.

All quotes cover the transport costs.

How does it work?

The procedure to access this service is simple and effective. In fact, it is because the entire operation is so simple that allows all costs and services to be controlled effectively and accurately.

STEP 1
Obtain the quote sheets and confidentiality agreement.

You will be provided with an example of a completed quote sheet, along with the blank sheets. These are simple to complete but we would appreciate any details regarding perceived complications associated with the job (simply consider what you would want to know to be able to provide an accurate quote to a client).

Send the completed quote sheet to: 'ATTN: Wholesale Team
Facsimile number: (07) 3368 9988 or email enquiries@bbwaccountants.com.

STEP 2
You will receive your fixed quote on the same day as you have sent the quote sheet (withstanding normal time constraints ie quote sheets received after 4.30pm may not be returned with quotes until the next working day).

STEP 3
Contact the Wholesale Team on 1800 773 643 or email enquiries@bbwaccountants.com to accept or discuss the quote further and to obtain transport instructions.

STEP 4
Complete the BB Whitehouse Accountants interview sheets, collate, box and forward all information to BB Whitehouse Accountants.

When completing this aspect of the task, to save you and ourselves time and cost, please consider what you would require to complete the job if you were handing it over to internal accounting staff and what they would need to access, and forward the same information to us. Information should include:

• Backup disk of prior year data files.
• All source documents (eg Cashbooks, client computer disks, reconciliations, bank statements, cheque books, invoices and receipts, loan details, debit loan accounts etc).
• Prior year tax returns and financial accounts.
• Any file notes regarding calculations and matters affecting the tax returns of the client (eg borrowing costs, deferred income, hp rule of 78 calculations, etc).
• Details regarding specific tax planning issues.

Notify the Wholesale Team by facsimile or email of transport details. We will forward an acknowledgement of receipt to you.

STEP 5
You have nothing to do during this phase.

STEP 6
We will contact you for any specific data or information required to complete the job.

For example, if you do not want to complete this yourself, you may need to advise us regarding trust distributions or debit loan accounts and drawings.

STEP 7
Draft accounts and tax returns are forwarded to you for review. This would include any advice regarding the job we felt was relevant.

STEP 8
Details are adjusted and finalised.

STEP 9
All documents, backups, data and finished financials and tax returns are returned to you.

STEP 10
You would then finalise and send to your client.