Many of you will be current Xero users, where the subscription is held by your accountant or cloud adviser. This is the model that most accounting firms using Xero are following. Generally, this is because the accountant will provide setup and implementation services as well as provide other services such as ongoing management of the subscription, preparation of financial statements, activity statement and income tax returns direct from Xero and Xero Practice Manager.
At Accomplice we believe that it is fundamental that small businesses work with an advisor who will communicate – up front – the terms of engagement and an agreement on fees in relation to work being undertaken, before any work begins. In most cases, this fee ‘bundle’ will include all ongoing services provided including the cost of the Xero subscription.
Doing this removes any uncertainty and enables the client to pose any questions regarding the service, or negotiate, or ‘unbundle’ the services offered. It also serves to remove the potential for any fee disputes after work has commenced.
If your adviser is not providing you with terms of engagement or fee quotes or estimates before undertaking the work, you may be working with one of the dinosaurs!