What is wholesale bookkeeping and why is it important for accountants?
Wholesale Bookkeeping is a new service offering that we are rolling out. And we will offer it to the bookkeeping for accountants underneath our own brand at a guarantee profit margin for the accountants.
The way it works is the clients come to their accountants with all their receipts, we’ll send someone into their office, we’ll scan all that paper for them, we’ll digitize it all, extract the data. And then enter the data in the accounting platform, reconcile all the accounts.
We will also help the accountant build a value pricing quoting template around that particular client that they can present to their customer.
Why would they care? Most accountants don’t want to do bookkeeping and I don’t think they should. But if we can help them generate an extra $100 to $200 or $300 a month a profit margin on every bookkeeping client and you have a hundred clients, that ends up being a fairly nice profitable income stream for the accountants without actually having to do any of the work.