For the free cheese in the trap and the cheap that always turns out to be expensive

Among the eastern peoples, bargaining is a trade tradition. The negotiation is a key moment of the deal between the two parties.

It’s quite simple. The seller sets a price, the buyer tries to bring it down. Finally, they shake hands for the price that satisfies both the buyer and the seller.

But accounting is not an eastern market.

Accounting is not the sale of a commodity, but the provision of a service. For sure. Peace of mind and properly prepared documentation. Guaranteed that the customer is absolutely accurate with regards to taxes. And fair to his customers.

Excellent accounting is the opposite of chaos.

But this orderliness, this balance for the client’s business costs money because the accountant took care of it. If he really understands his job and is really competent.

Allow us to share a story from our practice.

A citizen of an EU country arrived for a meeting at the “Correct Account Consult” office. He told us that he registered his company here in Bulgaria. As a true European, he hired the services of a lawyer and an accountant.

For one reason or another, his company was out of business, and when it comes to accounting, it’s a textbook example. In other words, the foreign entrepreneur should not owe funds for insurance contributions, since in practice his company did not carry out any activity.

But the accountant activated his activities in a document, and in this way the entrepreneur from abroad got into a Bulgarian accounting storm.

And although his company did not develop activity, according to documents it was active and the foreigner began to accumulate debts.

He paid a fee for accounting services every month, paid money for insurance /more than was necessary/, but gave this money “in hand” because the accountant told him that this is how it is done in Bulgaria. And she “consulted” him for free over the phone.

For 2020, the foreign entrepreneur paid some amount to his accountant, only to find that at the end of the year he owed a considerable amount to the NRA due to unpaid insurance. In other words, he found out the hard way that only the cheese in the trap is free, and the cheap always comes out expensive. Because that’s exactly what happened. Trapped.

And his accountant literally disappeared. She last informed him by email that she was sick with “coronavirus” and they could not see each other.

Finally, with all these “liabilities”, without any accounting documents and with outstanding debts to the National Revenue Agency, the foreign entrepreneur stepped on the threshold of our office to request consultation and assistance.

When we explained to him in detail what the possible way out of the impasse he had found himself in, when we presented to him in detail the correct steps, when we explained to him that we would get him out of the “swamp” and that our services would cost him so and so leva, he answer us

“I will pay you half,” i.e. haggling began.

We hung up, told him the price of our consultation, wished him well, and sent him off alive and well.

Do you think this is a manifestation of hard-heartedness?

No, we showed respect for the customer, showed consideration for them and expressed willingness to commit to solving their problems.

And we simply refused to be part of the bargain. Because you haven’t forgotten, have you?

At “Correct Account Consult”, we do not sell a product, but offer a service in which we invest knowledge, skills, competence, authority and everything that makes our clients in good standing before the state, safe and calm.

Otherwise, history is full of examples that prove that cheap always comes out expensive. Our foreign guest has already made sure of this.

He, and others like him, know that sometimes you have to pay dearly and dearly because you tried to save money for your financial sanity.

At Correct Account Consult, we never haggle with our clients, because each of our clients knows with absolute certainty what they will get for their money.

And he does not receive invoices, but competent consulting and assistance.

Because accounting is not just a debit or a credit, it is above all knowledge and an investment in time and means to create knowledge in accounting and tax matters. At least for us it is, to keep up with the times and in time with the changes.

And what happened to this foreigner?

He returned to the office again. He is now our client. And we are fighting for his interest as he never thought it possible for anyone to fight.

That’s what we’re telling you. Excellent accounting is the opposite of chaos. And we constantly prove it to our customers.