Do you hate keeping your accounts up to date? Do you get advice from your accountant who recommends doing your accounts on a little and often basis and then you will have no problems keeping your accounts in order? Many people don’t like or understand the process of business bookkeeping and sometimes it is easier if you let someone else do the hard work for you.
There are businesses that do the daily running of the account departments of other businesses. They ensure the smooth running of the business accounts, making any business owner less stressed and ready for the taxman, come that time of year.
What it is important to remember is that the business of bookkeeping is high-risk. Banks don’t want to take the risk of a company that could potentially lose money if something is completed inaccurately; for this reason business bookkeeping merchant accounts have appeared with the sole purpose to help those bookkeeping businesses with the methods they are able to use to accept payment from their clients.
High-risk has the potential to mean expensive rates for each charge, an application fee, even restrictions on the amount of chargebacks that happen to their account.
Understanding the risks and the charges they are expected to pay as a high-risk business, it is understandable the amount they charge per hour. However, if you as the bookkeeping business can reduce the charges on your merchant account provider, then you can decrease the costs involved with your clients and potentially grow your business.
The wrong merchant provider can increase the costs involved to all aspects of the business, understanding and choosing the right merchant account provider who could save you and your client money, is key to a successful business in the current economic climate.
Therefore, no matter the risk category of your business, the most important aspect is getting the right services, which benefit your customers as well as the business; don’t settle for second best.