FAQ's

Minimising Accounting Costs

Our aim is to create a professional happy and friendly working relationship which gives us the opportunity to provide you with the best possible service at a reasonable cost.

Firstly it may help if you understood the process which is undertaken by the team here at Chan & Naylor to complete your job. Some common questions that you have asked are these:

How do Accountants Charge?

Most Accountants charge by time. The longer it takes to prepare your Return, the dearer it's going to be. The more presentable you submit your accounts, the quicker we can get it done, and the more cost effective it is. Its best to work with your Client Manager as to how best to present your accounts to them.

Can you give me a quote for a job?

Whilst some jobs can be quoted up front others can only be done on a time basis. Your Client Manager will work with you on this.

Two sets of books for the same business can take twice as long for one set as for the other depending on how the books are presented. Please work with your Client Manager to try to minimise the time, hence the cost. Ask your Client Manager for a more efficient way of presenting your books to us. The more you do the less it will cost. Make sure everything is there. Should the Client Manager pick up and put down your work waiting for missing information the more it will cost and the longer it will take.

The MYOB / Quickbooks salesman said that the software should reduce my accounting costs, but it's actually  increased? (in some cases double)

Many software packages claim to reduce the accounting costs however efficient computerisation of your accounts depends solely on the operator. The better trained the operator the more accurate the financial accounts however please be warned that the opposite can happen if an untrained operator prepares the accounts. If you need extra training than please work with your Client manager to ensure that the financials that you are supplying to your Client Manager are prepared correctly. Using an appropriately trained operator will definitely reduce your accounting costs.

Your Client Manager is the best person to assess your accounting software requirements so that they are compatible with the skills of the operator

My previous accountant was extremely expensive and never returned my calls, how do I know you are not the same?

Our unique team centric system allows better service at lower prices. It ensures that appropriate services are delivered to you at appropriate prices such as book keeping and administration services are delivered at lower charge out rates leaving the Client Manager to be personally available to answer your questions and queries. This system allows us to guarantee that we can answer your questions within the same day or at the latest the next day and provide you reasonable turn around times of your work.

You still have available the Partner in charge to answer any questions that the Client Manger is unable to answer or an answer you would like a second opinion on..

When will the Partners look at my tax return?

The Client Manager processes all the accounts and produces a draft set of accounts. They will than go to the Partner, who will discuss the Tax Planning. It's this tax planning session that could save you thousands in tax.

The partner spends quality time and the Client Manager spends quantity time. The Client Manager then finalises the accounts according to the Partners instructions.

Sometimes the client is called in to discuss various problems or look at their options. This process is similar to the surgeon and the nurse or the Architect and Builder. These processes are designed to minimise the costs to the client / patient.

How do we best use your services economically?

Our business sells our knowledge through the charging of our time. If the task takes less than 5 minutes (like a phone call) then it's done for free. More than 5 minutes it's charged to the client at the appropriate rate. To ensure your needs are met efficiently and effectively and you are not paying for something you don’t really need, nor wasting valuable staff time its extremely important that you are clear about the way we operate. The better you manage the relationship the more value you will get from the relationship.

How long will it take to get my work done?

In the peak period it will take longer.

Missing information will delay the job.

In the PEAK PERIOD between August and March the turn around time may stretch out to 2 - 4 months or more, as every one wants their work done in this period.

Every Accountant in this period will be faced with the same problem. We appreciate your patience in this period.

In the OFF-PEAK PERIOD between April and July turn around time drops back to either a few days or a few weeks.

You will receive a letter from us once in June and another in January to remind you to send your work in.

Once we have your work an Engagement Letter will be sent to you advising of an approximate turnaround time and various other useful information

The Client Manager will than work with you in getting the work done and completed.

I want more than simply getting my Tax Return done?

That is great because we have a Financial Planning arm as well as a Finance team and a Platinum team. Whilst our specialty is the structuring of investment properties we do understand that clients need a range of services that are applicable to their specific needs.

Chan & Naylor Financial Planning team provides funds management and investment advice and risk products such as life insurance and income protection and Self Managed Superannuation Funds.

Chan & Naylor Finance team provides specialist loan products that are suitable to some of our unique products such as our Property Investors Trust™ .

Chan & Naylor Platinum looks after the more complex tax planning structures such as our Life Interest and asset protection products

At the Chan & Naylor group of companies we are able to provide you with a one stop shop service that clients have come to appreciate. All the professionals are all working together to provide a complete wealth creation, tax planning and asset protection solution that is seamless and efficient to the client’s needs.

Contact a Chan & Naylor representative today! 1300 250 122 or email info@chan-naylor.com.au