How Much Does Bookkeeping Cost?

My billing over the past 10 years was tiered based on income levels: $380K, $880k, $1.5 million, $6 million.  The new billing is based on expenditures processed: more expenditures means more transactions to process, review and more after-work in terms of CRA compliance.

This move is also in response to CRA’s increased audits of different expense account and industries.

If you are going to do something, do it as best you can. There is no sense in working 30 years, sacrificing your health and time with your children if you can make the same money in 10.

Efficiency is only important when a resource is scarce.  As a young person with a whole lifetime ahead, money was the priority. As we get older, time and attention is the priority. (Attention is important, for example, Spending 1 hour QUALITY time with your kids, interacting with them and reading to them is much better than spending 2 hours with them in front of the television)

Its an inefficient use of time to advance your wealth beyond a certain point since money eventually becomes perpetual (ie living off 5% returns on $2 million).

I want to maximize my limited time left on earth and want to improve my craft each day.  Office works are not capable of more than 5 hours of focused deep work each day.  The best way for me to improve is to work with big numbers on limited accounts. Big numbers mean the errors of others would compound to adversely affect my customers.

Businesses that revolve around E-commerce, beauty/aesthetics, food/health are all great businesses that could effectively give you $20,000 or more a month in after-tax income and being in Alberta, there is still some opportunity left in the oil/pipeline sector as well.

Keeping in mind, Pareto’s principle aka the 80/20 rule, 80% of the effects come from 20% of the causes and in our case, 80% of the inefficient use of time comes from 20% of the customers. By refusing service to companies that do not use their time and resources efficiently guarantees we don’t have to lose time with audits. This, in turn, gives us more time to spend with our valued clients.



The all-inclusive flat fees including GST are as follows:

$8,800    Industry: Annual expenses over $1 million
$7,100    Enterprise: Annual expenses between $450k and $1m
$5,600    Venture: Annual expenses between $200k and $450k
$4,700    Boutique: Annual expenses between $100k and $200k
$3,900    Micro: Annual expenses less than $100k
$3,200    Startup: No payroll & revenue below $380k

Save 1 free month of bookkeeping for every new client you refer to us.  Your referral will also get 1 free month of bookkeeping and you’ll receive a thank-you for introducing them to a service that at a cost of 1% or less, legitimately reduces the 3 sources of negative cash flow that matter (taxes, payroll and housing) by 3-30%.  If you have those 3 sources of negative cash flow figured out, leasing a Benz for $1,000 of month really can never make a difference.

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The Best Low-Cost Canadian Index Fund

 

Why?

  1. 8.2% return in the past 5 years
  2. Lowest MER fee for good return at 0.39%

The Catch?

  1.  Requires a minimum of $50,000. This is how they keep their fees low! If an investor comes in with $100 they take up the same amount of time and resources as the investor who comes with $50,000 so that’s why funds at all other banks and firms that cater to the masses have much higher MERs.  This higher entrance fee keeps too many people from having it. Too many people indexing causes mispricing in the efficient market theory.

How much difference can half a percent in additional MER fees make?

If you are paying half a percent in extra MER fees, this could lead to nearly as much money paid in fees as your total contributions over your working life.  $1 million lost in fees over 40 years on a $1 million of contributions.  If the fund is giving returns that are less than or only meet CIBC’s premium index fund, there is no reason to pay the extra fees.

If you already maxed out your investment in your own business and have $50K liquid cash then call your nearest CIBC branch to set it up:

  1. https://www.cibc.com/en/personal-banking/investments/mutual-funds/growth-funds/canadian-index-fund-premium.
  2. https://www.cibc.com/en/personal-banking/investments/mutual-funds/growth-funds/balanced-index-fund-premium.html

More investment advice is here:

  1. https://thutaccounting.wordpress.com/2015/06/22/housing is a poor investment!
  2. https://thutaccounting.wordpress.com/2015/06/09/the-power-of-compound-interest/

Canadian Western Bank has a business savings account that pays 1.15%

The Best Way to Deal with Minimum Wage Increases

One month from today minimum wage increases from $12.20 to $13.60 and next year it will be $15 per hour.

This will have a detrimental effect on many businesses. Many businesses will suffer worse margins and less profit, here how to do the OPPOSITE:

 

Don’t increase prices

Your choice is the same as everyone else: less employees or less profit.  The only way to maintain your current margins is working with fewer people. In a restaurant example, if your food costs as a percentage of sales are already low vs. industry benchmarks, increasing your prices with respect to food costs would be bad for you.

Change payroll practices

We have worked with customers in various industries to prepare them for the minimum wage hike since late 2015: normalizing 5-hour shifts and eliminating people who work less than 50% (100% being 40 hours per week). Fewer people means considering appropriate times to do prep work (pre-portioning, mixing etc) to mitigate the busy times with fewer people (even if it is only 1 less person). Also, this means getting the fewer remaining staff – personable kitchen staff, for example, to help with guest service. A more radical/specialized change in restaurants is conveyor ovens.

5-hour shifts

I have been so impressed with the improvements our restaurant customers have made, effective Aug 1 our own office enjoys 5-hour shifts. Shifts under 5 hours, employees are not entitled to any breaks.  Breaks during the typical workday are not used to re-energize or restore attention. The end goal of efficiency is to remunerate employees as much as they did when they had 8 hour days, this will, in essence, give them a higher raise than the increase in minimum wage.

Now, most of our customers are no longer concerned about the minimum wage increase since it does not affect them anymore (they pay more than the minimum wage: they hire 2work them like 4 and pay them like 3. This is the same as paying someone an 8-hour wage for 5 hours of work). If you can give them an increase of paying them 8 hours at their “old rate” for 5 hours of work you could go as far as eliminating tipping.

For example, if an employee is currently earning minimum wage at $12.20/hour + tips, if you reduce their shift to 5 hours and reap the same benefits you could afford to pay them $18.30/hour and eliminate tipping. 

($12.20 x 7.5 hours = $91.50 / 5 hours = $18.30/ hour)

The check to make sure you are on the right track is if you pay someone $18.30 per hour, the employee should also “pay the company” at least $36.60 per hour (giving you $18.30/hour as their contribution to overhead). Profit per employee is an important metric SwissBooks will track for you.

I am confident that in the long run, this is better for Canada, making us a little more like Switzerland etc. where people have a career in every type of work. The work is done with pride, and this will only help your reputation and your business, and the quality of product and service across the board should increase to society’s benefit.

The Most Efficient Way to Run a Business

NEW OFFICE HOURS & PICK-UP OPTION

Our new office hours are Monday to Friday 8am to 1pm. If it is inconvenient for you to drop by during our office hours you can also arrange a time for someone to pick-up your documents after 1pm. (Edmonton area only)


Background and Framework for Efficiency

  1. Focused 5 hour work day: We had the focused 5 hour work day from 2010-2013 and started it again with one employee in March 2017. We have seen first hand that our focused 5 hour work day reduces absences, stress and increases efficiency. Shifts under 5 hours, employees are not entitled to any breaks.  Lunch and breaks during the typical workday are not used to re-energize or restore attention.  In our office’s case, they are spent eating lunch late at our desks in front of the computer, while other workplaces time is lost strolling in late after getting caught in line at Tim Hortons. Back in 2010-2013, as owners, we worked 10+ hour days and we were much more efficient running two employees on separate 5-hour shifts (8am-1pm and the second person from 1pm-5pm).
  2. Unless you are financially independent, you should be working rather than hiring out the work. No one will ever do a better job than you, and no one will ever care about your big picture as well as you. Only farm out things that can be completed more efficiently through unique skills and economies of scale (Accounting, bookkeeping vs. doing it yourself). Due to minimum efficient scale, the cost/technology would not make sense for an individual to specialize in something that is not directly related to their ability to generate revenue.
  3. The most sustainable payroll solution is that if you pay someone $20 per hour, the employee should also “pay you” at least $40 per hour (giving you $20/hour as their contribution to overhead). You have to account for the payouts you are responsible when you have staff: statutory holidays, 4% vacation and eventually termination pay.  Profit per employee is an important metric that our 3rd iteration of SwissBooks will measure and report to you.
  4. Consider converting any full-time staff you have to focused 5-hour shifts. If you are open longer you could consider running back-to-back 5-hour shifts as we did 2010-2013.
  5. Bring efficiency and focus into your life is efficiently articulated in this appropriately titled book: Efficiency: Get Rich Without Giving Up Your Life.  It will also tell you how to start an online business or make money with affiliate marketing.
5 hour Office Monthly Income Update
  1. $10k+ after-tax per month of passive income from a 5% net return on $2.5 million.
  2. $14k+ average after-tax income from hours worked. (Total average after-tax net income $24k+/month+).
Asset Class Update 2017
  1. 20% insured real estate (max 30%).
  2. 10%  stock (max 20%) maximum 3% of this initially invested in any one company.   Be prepared to hold on to stocks indefinitely: choose strong brands that will be around in 20 years.
  3. 15% CDIC protected cash (minimum $50,000)
  4. 15% CDIC protected guaranteed term deposits
  5. 35% scalable assets


Dear valued SwissBooks clients,

We would like to inform you of a billing change effective September 1st, 2017.

Since launching THUT Accounting in 2006, our constant improvements equip you with the most innovative accounting solution, which is why this billing change will also support the ongoing development of new value for your business.

The all-inclusive flat fees including GST are as follows:

$8,800    Industry: Annual expenses over $1 million
$7,100    Enterprise: Annual expenses between $450k and $1m
$5,600    Venture: Annual expenses between $200k and $450k
$4,700    Boutique: Annual expenses between $100k and $200k
$3,900    Micro: Annual expenses less than $100k
$3,200    Startup: No payroll & revenue below $380k

Save 1 free month of bookkeeping for every new client you refer to us.  Your referral will also get 1 free month of bookkeeping and you’ll receive a thank-you for introducing them to a service that at a cost of 1% or less, legitimately reduces costs by 3-30%. 

If you do not report at least $90,000 of annual net income and have at least 20% pre-tax margins, then SwissBooks is not helpful and it is not fair to recommend a product that is not going to be tailored to your needs. It may be in your best interests to dissolve your corporation and save yourself unnecessary accounting fees by filing as a proprietor.  Alternatively, the easiest ways to turn it around are either through focusing on either recurring revenue or big ticket item sales. 

We want to thank you for your continued business and we are committed to working with you to help save you money, and help you net $20,000+ a month after-tax in your business.

Sincerely,
Christian Thut
Präsident, THUT of Switzerland

—————————————-

Kính gửi khách hàng SwissBooks,

Chúng tôi muốn thông báo cho bạn về thay đổi thanh toán có hiệu lực từ ngày 1 tháng 9 năm 2017.

Kể từ khi mở công ty THUT vào năm 2006, những cải tiến liên tục của chúng tôi mang lại cho bạn giải pháp kế toán sáng tạo nhất, đó là lý do tại sao thay đổi thanh toán này cũng sẽ hỗ trợ sự phát triển liên tục của value mới cho doanh nghiệp của bạn.

Các khoản phí cố định bao gồm GST:

$ 8,800 Industry-Thu nhập lên đến 6 triệu đồng dollar
$ 7,100  Enterprise -Thu nhập lên đến 6 triệu đồng dollar
$ 5,600 Venture -Thu nhập lên đến 1.5 triệu đồng dollar
$ 4,700  Boutique -Thu nhập lên đến $ 880 nghìn
$ 3,900 Micro -Thu nhập lên đến   $ 380 nghìn
$3,200  Startup: No payroll & revenue below $380k

Free 1 tháng lệ phí kế toán cho mỗi khách hàng mới mà bạn giới thiệu cho chúng tôi. Người giới thiệu của bạn cũng sẽ nhận được free 1 tháng lệ phí kế toán và bạn sẽ nhận được lời cảm ơn vì đã giới thiệu họ với dịch vụ với chi phí 1% hoặc ít hơn, mà giảm chi phí hợp lý xuống 3-30%.

Nếu bạn không báo cáo ít nhất 190.000 đô la doanh thu hàng năm và có ít nhất 20% lợi nhuận trước thuế, vậy thì SwissBooks không hữu ích và không công bằng khi đề nghị một dịch vụ
không được phù hợp với nhu cầu của bạn. Có thể là vì lợi ích tốt nhất của bạn để giải thể công ty của bạn và tiết kiệm cho bạn các khoản phí kế toán không cần thiết bằng cách nộp đơn proprietor. Ngoài ra, cách đơn giản nhất để xoay quanh nó là thông qua tập trung vào doanh thu định kỳ hoặc doanh thu bán hàng lớn.

Chúng tôi muốn cảm ơn bạn về công việc kinh doanh tiếp theo của bạn và chúng tôi cam kết làm việc với bạn để giúp bạn tiết kiệm tiền và giúp bạn 20.000+ đô la một tháng sau khi đóng thuế trong doanh nghiệp của bạn.

Trân trọng,
Christian Thut
Präsident, THUT of Switzerland

Best Ways of Thinking Differently

There was an excellent comment in our highly popular post on Choosing Your Market & Pricing. Thank-you “dicky dee” for creating this idea and everything in quotes are his words.

  1. Most people think “follow your passion” is sound advice. Successful people often attribute their success to doing what they are passionate about- it’s just an easy thing to say so they don’t need to waste time answering questions. This makes it about YOU and YOUR passion. No one cares about you and its never about you- it is about others. The sooner you figure this out the better. Providing something that OTHERS NEED will make you a success faster and it is easy to become passionate afterward. No accounting grad is ever passionate about accounting. If they get their face plastered on a fleet of vehicles and have a lead accounting role at a huge company its easier to tell people he followed his passion, rather than he followed the money. I forgot who said this but money is a neutral indicator of value, by aiming to make it, you are aiming to become more valuable.
  2. Most people follow trends. Our feed is entirely #Blockchain and #Bitcoin, should our next million be in Blockchain? Of course not, dicky dee explains: “it makes it a lot harder to achieve your goals if thousands of other businesses are doing the same thing as you, it would work however if you have a solid way of differentiating yourself from the pack that would be highly advantageous.” Ease of entry is how he describes this “winner takes all” reality we live in where few players enjoy the bulk of the work. Do something no one else thinks of doing. How can you think like this? UNDER-CONSUME so you don’t need to work. Then instead of working, you can think. Most people don’t think anymore- they are constantly doing something, when they aren’t working/driving/yapping, they glance at their phone. Learn to do nothing but think, if you are bored that just means you are boring.
  3. Most people don’t talk about scale and instead focus on operating margins and net worth. Scale trumps margins. If you have scale, margins can decrease and as long as its positive you have a real business. Scaling is not linear and with the right skill set and framework you can go from half a million dollars in debt to “rich” in a couple years.  Read our customer’s great example in the comments section. Scale is relative and can serve anyone to some extent: why have one noodle house when you can have seven? *wink*  “Scaling with using minimal cash flow” is just plain efficiency. Most people are saving $1,000 a year on switching accountants, scarcity mindset tries to protect their net worth. Your net-worth is irrelevant when you are old, asset rich and cash poor. Cash Rules Everything Around Me: seek to maximize your company cash flow, you can spend as much as you want since your net-worth becomes meaningless after you realize having stuff is overrated.
  4. Most people trade their limited time for money. You can never get back time, so with each year of life you live, the marginal “worseness” increases. The piper will be paid, make use of your time now, so you are not wasting exponentially more time in the future. Only trade time for money when you have no money and lots of time on the money-time continuum. With each surplus dollar, you should trade money for time: someone is buying your time every time you look at their advertisement. You can buy time by outsourcing your bookkeeping/accounting. “If your business depends on you to be there instead of hiring out and creating systems and processes then you will never have true wealth no matter how much money you make because you don’t own your TIME and your income is capped off by how many hours you put in.” Leveraging technology has its limitation so how much do you pay someone to replace you? The most sustainable solution is that if you pay someone $20 per hour, they should also “pay you” $20 per hour. If you pay them $20 per hour and they “pay you” $40 per hour you should pay them more or you’ll lose them. And unnecessarily re-doing the hiring process at no gain is an enormous waste of time.


SwissBooks Pro Tip:

“Man muss immer umkehren” is a German saying that the solution to a problem can be clarified by re-expressing it in inverse form. Work backward and reverse engineer your target. A worthwhile target is to clear $1+ million in a year, if not through recurring revenue then at least through selling your business. The latter part is easier so you only need to generate between $200,000 to $333,333 in annual discretionary cash flow to sell your business for a $1 million. But by the time you are hitting those figures, you won’t want to sell anyway since you would have figured out how to scale.

An oversimplified example in online sales would be: you would need 100,000 sales at $10 of profit per sale. Assuming a 2% conversion this would require 5 million visitors, which will cost $500,000. So you need to come up with $550,000 (50K extra to live assuming 1-year cycle).

If you don’t have it – the process continues. You’ll need 55,000 customers in the preceding cycle at $10 profit per sale which assuming the same 2% conversion would require 2.75 million visitors, which will cost $275K. You need to come up with $325,000 (50K to live).

Getting this requires 32,500 sales at $10/sale with 1.625 million visitors which costs $162,500. You’ll need $212,500 (50K to live).

21,250 sales from 1.0625 million visitors costing $106,250. Requires $156,250.

781,250 visits costs $78,125. So if you had $50,000 of startup cash you could make this model work for you in 5 years and the only way to speed it up is by improving your margins or conversion rate, just don’t forget what is important (in this example its volume). Traps: If the cost of producing and delivering your offering is 50% of your revenue – its probably not worth pursuing.


Pour Conclure

SwissBooks by THUT is our 3rd SaaS iteration is aimed to help you strategize the framework to increase 5 metrics and reduce 5 metrics through our 5-step accounting process run by a 5 person team.

Our year-end report will outline the framework to increase: 1 Revenue, 2 Growth, 3 Efficiency, 4 ROI, and 5 Value, while reducing: 1 Costs, 2 Time, 3 Turnover, 4 Risk and 5 Paperwork.  

SwissBooks uses real-time aggregate data to tell you where you stand and how to improve if you are sub-par.

http://www.christianthut.com/

Choosing Your Market & Pricing

There are only three markets you need to know:

  1. Average women

  2. Women in the top 20%

  3. Men in the top 20%

Where is the average men? They simply don’t count in Canada– their women control their money -so direct your efforts directly to them!


How do you pick your market?

A) If each transaction does not require a material amount of an individual’s time then you can enjoy the largest market- the average people. They come in, they order your soup, which is prepared in large amount, they pay, they leave. Businesses that can enjoy the mass market: online sales, retail, and restaurants.

Big money is made in this market, but few clients can tap into it because many of the times this involves producing junk- think Walmart, Apple, Starbucks, big Pharma. THUT 2.0 was the accounting service we tried to deliver to everyone, but it failed. Unless it is online sales or mass production, the masses will slow you down.

B) If each transaction requires a material amount of an individual’s time then you are better off focusing on the top 20% of the population. This was our strategy to enter at the high end of the market: Edmonton’s oil and gas industry, where earners who were in the top 1-5% of the population were prepared to pay a premium, and we used that money to develop cost efficient accounting solutions for other sectors. But we didn’t have enough of these lucrative clients to survive off of doing accounting for a few big CNC oilfield shops.

Sometimes you do what you have to do to get yours: 10 years ago on the time-money continuum we had no money but we had the youth and energy to each work 80 hours in a week.

  1. We did personal tax returns for $20 each no matter the complexity. People came for 10-15 minutes, paid us, and left.

  2. We exercised the same procedure for small businesses charging $2,000 for a nail salon.

As clients grew in complexity, the amount of time required also grew. Those average people simply dragged us down as we could not recover the time spent on each file. So as we progressed on the money-time continuum we dropped clients to reach equilibrium.  Simultaneously, we were still banking money from the 1%ers and using the money saved to drive down the market to higher unit volumes and lower prices with each successive category until we can economically service the span of the higher 1%-20% of the market.


Raising prices

Some businesses that would be better off having the end goal of catering to the women in the top 20% that will lead to more satisfaction and less headache in the long run include:

  1. nail salons (without robots)

  2. construction trades

  3. used cars

  4. auto services

  5. consulting

Successful price increases helps you acquire better customers who are more serious about enjoying your offering and less likely to churn. When we had lower prices, we had customers that changed accountants, looking for a better deal, never mind that it will cost them more in the long run in taxes and/or penalties. Our current fees dramatically improves the lifetime value of our customer which in turn boosts lifetime value to customer acquisition cost ratio. It has allowed us to have a more sustainable business model without having to spend years working 80 hours a week each. The success of our price increases lies in the transparency. Everything is listed on our website and customers know exactly how much it costs and what is included. We know most accountants charge more than us, but our goal unlike theirs is not revenue maximization. Our goal is sustainability, and that involves selling something that our customers need.

  • $2M revenue and $200K profit is worse than
  • $1M revenue and $400k profit

When we include more features, like including bookkeeping, this drives the demand for our offering over other accountants and creates an opportunity to extract the added value in the form of higher prices. 


Signs you are ready to transition to cater to the higher end market

  1. Customers and prospects tell you how cheap you are. For example, customers have told us they are surprised we make money and that they appreciate the value.

  2. You create a very high ROI. You should aim to capture 10-20% of your economic value. If your construction build will save $100K over PCL’s you deserve that extra $10-$20K (your customer still saves $80-$90K). At the cost of 1% we reduce customer costs by 3-30% (taxes + accounting).

  3. Many companies use a 5% annual price escalator, so 2 years without raising prices would mean you fell 10% behind your competition.

  4. You included new value without monetizing them. Customers are more open to price increases when you can show a track record of using that extra money to invest in improving your offering. For example, we started doing everyone’s personal taxes at no additional cost, and unlimited CRA correspondence/audit support for free to create goodwill with customers. We continually go to businesses who get audited.


Implementation

  1. Offer customers a discount for them to refer a family or friend. We give our customers one month free off their service plus one month free for anyone they refer. While many customers were quick to refer someone, many simply paid the higher price. So we raised the average price without driving away customers who might otherwise sought out a “cheaper” alternative. The effort involved with making a referral makes deal-prone customers feel like smart customers- and smart customers are happy customers.

  2. Give them alternatives. We used to only offer 2 categories. Now we offer 5 categories. We convince salon owners to downsize staff and do more work themselves so that they retain more of their income, while their lower revenue keeps them in a lower price category for accounting. Likewise, customers who are already financially independent and look to their business as more of a passive income want to pay us for a more expensive category as a consequence of maximizing their volume.

  3. Make your offerings look more valuable. A nail salon could put a bunch of nail-care and beauty products in a pretty box and sell it at a premium. The idea is to get customers to compare the price to a day at your salon- so in comparison the package is a good deal. Because most people are illogical and lazy, they will return to your salon just as often, and they got no additional value from the package but you have increased your income. Likewise, restaurants may package a number of foods together, encouraging customers to compare the price to dinner at their restaurant thus raising the perceived value of the packaged treat. Nail techs/restaurant staff and tradesmen should all wear uniforms: scrubs or coveralls. Contractors should have vinyl decals on their van/truck.

  4. Make peace that you won’t convince 100%. We can help you with the math on a price increase, so we can determine how many customers you will lose and still break-even. Keep in mind that some of those lost customers eventually come back once they try an alternative and realize the grass wasn’t greener on the other side.


Hiring out work

Unless you are financially independent, you should be working rather than hiring out the work. No one will ever do a better job than you, and no one will ever care about your big picture as well as you.

Only farm out things that can be completed more efficiently through unique skills and economies of scale (Accounting, bookkeeping vs. doing it yourself). Due to minimum efficient scale, the cost/technology would not make sense for an individual to specialize in something that is not directly related to their ability to generate revenue.


Restaurant Specific Advice

  1. Choose fast-casual rather than higher end dining or fast food. Eating out was one of the first things to get cut back in many Albertan households when the oil price crashed. Among clients, sales on average rose 4%. But there is a sector where sales rose 9% last year. It is the sector above fast food, but a step down from fine dining: that middle, ground fast-casual restaurants. While the minimum wage increase hurts fast food places, fast-casual sector will remain unaffected. As the population gets older, and as the economy remains uncertain this trend will continue to favor fast-casual rather than more costly dining.

  2. The average food cost in restaurants is 30%. Fast food places operate at 25% and the finer the dining the higher the % up to a maximum of 35%.

  3. If one item in your meal is priced at 40% food cost, then the second item needs to be at 20% to maintain your 30% average. Mix low priced rice/noodles with high priced meat.

  4. The staff should ask if customers are interested in any appetizers, side dishes, and deserts. The simpler the preparation the higher the profit.

  5. Consider paying your servers on commission. Any increased wages you pay out to them should mean more profit to you.

  6. Descriptive words on the menu are better than pictures.

  7. Customers find restaurants on their phone. Make sure you have a solid digital footprint: Facebook, Google, Instagram, Yelp. Your consumer base will return on average 1.7 times per month for 2.7 years, for repeat sales.  Accordingly, you should value your customers based on their lifetime value 1.7 times per month for 2.7 years.

  • Share with someone that could use some advice in this post or save some taxes and EARN UP TO $583! For every customer you refer we’ll give you a free month or a gift card equal to 1 month of service of your referral – whatever is bigger! Anyone you refer gets a free month of bookkeeping!
  • The end-to-end solution at an unrivaled annual fixed price. There is more time, more inspiration and more money for the implementation of your business. Do not waste money and time with taxes and accounting.  At the cost of just 1% or less we reduce customer total costs by 3-30% (taxes + accounting).
  • SwissBooks provides complete accounting, bookkeeping, payroll and tax solutions for Canadian controlled private corporations throughout Canada in a wide variety of industries and leverages extensive expertise to deliver the best solutions to our customers.
  • The strategy was to enter Canada at the high end of the market: Edmonton’s oil and gas industry, where customers were prepared to pay a premium, and  SwissBooks used that money to develop cost efficient accounting solutions for other sectors.  In turn, that money was used to develop even more cost efficient accounting – driving down the market to higher unit volumes and lower prices with each successive category: Industry, Enterprise, Venture, Boutique, Micro-businesses and Holding Corporations.  Take advantage that Alberta’s oil and gas enterprises spent millions of dollars to pay for the development to let you outsource your accounting at an affordable cost.  
  • Send us your prior financials and we will prove to you how our value is unrivaled in Canada.
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Self-made Multi-Millionaire Reveals 7 Swiss Secrets That Helped Him Get Rich

Foreign demand for Alberta’s natural resources contributed to our current situation.  Even THUT Accounting became too specialized in providing accounting to oil-field related businesses, leaving out the other sectors of the economy because of apathy.

Canada’s abundance of natural resources has interesting side effects. The trickle down of wealth erodes productivity and created a nation dependent on Alberta.

Adaptability and productivity stay low while increasing costs, inflation, and unemployment.

Even if you don’t work directly for the oil-sector, you may be adversely affected if:

  1. an increase in your mortgage rate would hurt your finances
  2. your mortgage is more than 2.5-4 times your gross annual household income depending on how much you put down
  3. you don’t have any real skills and think you can succeed in business

7 Swiss Tricks to 7 Figures!

The future will belong to:

  1. People who are the best at what they do through 90% doing & 10% learning.  Hone useful skills that allow you to deliver a service/product that people want and you can create opportunity regardless of the economic environment. Switzerland’s strong apprenticeship system has made it the most competitive country 7 years in a row.
  2. People with money. Strive to save 90% of your income.  Keep 90% of the above in investments and 10% cash. Don’t take this the wrong way, I don’t mean downsize your life. Instead, maximize your income so you are happy living on the other 10%. Follow metrics when buying a home.  Buy your car using metrics for yourself and not prestige for others. 12.7% of Switzerland’s population has a net worth over $1M vs. 1.4% in Canada.
  3. People who leverage technology. Online is the only path to scalability.  Switzerland has no resources but is ranked as the world’s most innovative country.

Paretoprinzip: Maximize the results by minimizing the stuff that don’t count:

  1. Don’t check your e-mail more than 3 times a day.
  2. Stop watching TV, surfing the net,  playing video games, and taking unnecessary vacations.  Make your own life great instead of engaging in escapism. The Swiss love outdoor adventure sport. Make your life so good you don’t need a vacation.  The only legitimate reason someone who is not financial independent should take a vacation is to visit family overseas.
  3. Trim your contact list – cut the complainers because chances are they already lost.

Switzerland has no natural resources, covered by inhabitable alps and can fit in between Edmonton and Calgary! Canada has 20% of the world’s fresh water but a Swiss company is the largest water brand in the world.

Share with someone that could use some advice in this post or save some taxes
For every person you refer we’ll give you a free month or a gift card equal to 1 month of service of your referral – whatever is bigger! Up to to $600!
Anyone you refer gets a free month of bookkeeping!
THUT data capture technology extracts data from bank, credit card and online statements and allows for automatic bank reconciliation.
THUT uses artificial intelligence to locate and extract line item and tax summary data from receipts and exports it into a csv file.
Cleansing algorithms allow it to extracts transactional data that is 100% accurate.
Send us your prior financials and we will prove to you how our value is unrivaled in Canada.
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