Many of your business clients probably use Quickbooks to keep their books, because of the comfort level that it provides. I expect Intuit's newest product to be launched next month to attract their scrutiny and interest.
The new kid on the block is PC-based QuickBooks Point of Sale Solution for Retailers, that offers small business retailers insight and control over sales, inventory, and customers. It consists of software and standard hardware tools, including a bar code scanner, magnetic stripe reader, cash drawer and receipt printer. It won't come cheap, as the list price is $1,499.95 for both the hardware and software components.
The idea here is to give small retailers some of the same analytical tools that the larger retailers have had for years. And, here is where you come in. Many accountants have been making money on helping businesses install QuickBooks, Peachtree, and other lower-end accounting software. They also are turning the dime by training the clients' employees on using that software.
A point of sale (POS) offering whether by Intuit or with another lower-ended accounting software will provide an excellent consulting opportunity. Initially, it will involve helping the business set up the system, but it should quickly turn into analyses of the output as well as designing systems within the business so it can to act upon the information that POS generates.
Accountants are most successful in offering new services to existing clients. That is why this type of consulting should be so appealing to them. The reason is simply because many of the clients already use QuickBooks or other lower-end accounting software and they will need help in implementing a POS system as well as analyzing the data. Besides, the accountant is ideally suited to provide the advice and there is little competition so the practitioner can quickly gain market share.
The problem with lower-end accounting software has always been its limitations. However, many businesses still stay with it and now and they will continue sticking to the product as it goes further upstream. There's a great opportunity here!
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