FAQs – VBD Business, Tax & Wealth Advisers

Our Expertise, Your Advantage

A core belief in the culture of VBD Business, Tax & Wealth Advisers is that a good accountant will save you money, but a great accountant will make you money. Through our experience working with businesses, and helping them transition to success, it has come to our attention that business owners don't always know what to look for in an accountant, or which are the right questions to ask. So we've put together a list of the top 9 questions you should ask when seeking a business accountant:

1. How much will the first meeting, to discuss our needs and to find out whether you can meet all of them, cost?

Your first meeting is complimentary; it’s an opportunity for us to get to know each other better, and discuss your needs.

At VBD we understand that, as business owners, you are busy. To accommodate this, we like to come out to your business for our initial session with you. This also allows us to obtain a higher understanding of how your business operates.

The only thing that we ask is that all decision makers attend this session, as this ensures that we gain a holistic understanding of your needs as well as a conceptual agreement as to what the next step should be.

Many businesses are reluctant to change accountants, usually because they don’t realise the benefits of doing so. We know how you feel; others have felt the same way. We have found that business owners can be reluctant to change because they don’t know what they don’t know; the ins and outs of their accounting system have never been explained, so they are left with nothing but faith in their existing accounting adviser. We will always take the time to explain alternatives to you, so you can make informed decisions.

If you are thinking about changing accountants, we have made it easy for you to take the first steps and find out more about us. Join our free Knowledge Club or simply call us on 1300 823 123 for an upfront quote on your business accounting needs.

2. How do you charge and what are your hourly rates?

VBD has priced-upfront engagements. This gives you peace of mind, knowing there will be no price surprises.

We believe our priced-upfront options turn the traditional accounting cost model on its head. Our services are priced in relation to the value that we can deliver to you, unlike traditional accounting firms that charge an hourly rate. This means that it’s in our best interest to deliver the best possible outcome in the most efficient time frame. Notwithstanding our cost structure, it is in your best interest for the objectives of the assignment to be met efficiently and effectively. The faster these objectives can be delivered the more valuable they are to you.

Why is faster more valuable? It is more valuable because your business receives the deliverables sooner, and therefore has a longer period to enjoy the benefits. Our aim is to turn around annual compliance assignments within two to four weeks.

We guarantee 100% commitment to the process. That is, we guarantee the quality of our work. The objectives of any assignment are not achieved until you are reasonably satisfied that all deliverables have been met.

3. Is it going to cost me every time I ring or send an email?

At VBD, we believe that you should not have to make an investment decision every time you would like to ask us a question. Therefore, VBD provides businesses with unlimited telephone and email contact so that you can ask quick questions and bounce ideas off your accountant without having to worry about a bill showing up in the mail.

We want to be part of your everyday decision making process, so that you get better results.

4. Will the person in control of ensuring that I am financially well-organised also make sure I am on track throughout the year?

5. Will you keep me up to date on the things I really should know for my business?

6. Is the accountant regulated by a recognised and respected industry organisation?

VBD is a member of the Institute of Chartered Accountants. The Institute has very high entry prerequisites and ongoing membership requirements. Members of the Institute are required to complete 120 hours of Continuing Professional Development (CPD) every three years. Selecting an accountancy firm that is a member of the Institute of Chartered Accountant ensures that your accountant is up to date with the most recent legislation and can offer you the most relevant and accurate advice.

For more information on this and other mandatory requirements of membership, visit https://www.charteredaccountantsanz.com

7. Do you have any business services that will help to grow my business?

VBD has developed the Business Building Program, a systemised ‘working on the business’ monthly program that utilises a state of the art computer program, combined with our vast experience in business advisory and development, to ensure that the best possible decisions for your business are being made and implemented.

To find out more about this program, click here.

People often go into business to improve their financial situation and lifestyle but, more often than not, one or both of these suffer from a lack of understanding as to how businesses operate and the strain of wearing too many hats. VBD's Business Building program, is specifically designed for business owners to gain and retain control.

8. Do you provide wealth creation services?

9. How do I know I am getting the best possible advice?

VBD has a strict internal quality review process which requires that all completed accounting and taxation assignments are reviewed by a fully qualified Chartered Accountant. We also ensure that every accounting team member undertakes regular internal and external training so that our best practice methods and strategies are consistent across our entire team.

This means that VBD has taken every measure to ensure the quality of its work.