[Question] Accountant Rates

[seabassvg]

Hi

I am sure this has been discussed before, but I would like some input on rates for accounting services. I feel like I just keep on getting bills for accounting...

I run a very small design firm (operating as a cc), consulting mostly at an hourly rate. I have to date provided my accountant with a complete Quickbooks file. From this financial year I have moved all accounting online to Xero.com, but essentially I am still providing all the data entry, my last set of costs have been as follows:

Financial Statements: R4750.00 (ex vat)
ITR12 submission, incl. IT34 assessment: R1050.00 (ex vat) (this was for a sole prop)
IT14 incl checking of assessment: R1250.00 (ex. vat)
Tax Query: R475.00 (ex vat) - They asked for supporting docs which I had already emailed to the accountant in a bundle, so i assume this charge is foe a rather expensive email.
I have also been quoted R670.00 (incl,. vat) to submit the Cipro return.

Do these rates sound reasonable?

Thanks in advance

[Dave A]

Those rates certainly don't look unreasonable.

(I'm paying more myself, to be honest)

[seabassvg]

Thanks Dave, as a professional myself, I am happy to pay for professional services, but one never knows when one is being ripped off

[Imp]

I agree with Dave, they don't look unreasonable. Not the cheapest out there, but certainly not the most expensive.

[Shirley Renwick]

I don't think anyone who does not work with SARS understands just how long it takes to deal with issues - if everything is straightforward, then it is quite quick, but if there is the smallest query or problem, you cannot believe how long it takes!

[Blurock]

Just like any professional, an accountant has to study to qualify for their job, whether CA, CFA or CIMA. They also have to keep studying to keep up to date with new developments. Tax and company laws change periodically. Tax rates and tables are adjusted by the Minister of Finance every year. They then have to take the responsibility of certifying that the information recorded is correct.

So even if you provide the accountant with all the information, they still have to check and put their own stamp to it and bear the consequences. A lot of work is also done behind the scenes.
It is like the carpenter; its not about hitting the nail into the floor board, but knowing where to put the nail...

[Christel]

Hi, I agree with Dave - not unreasonable at all. I'm working for an accounting firm and our prices are similar. And I agree with Shirley.. it takes forever to get stuff done at SARS... or to get info back from clients to submit to SARS. One big circus sometimes!