How to Price Accounting Services in 3 Simple Steps
Mar 05, 2025
Pricing is one of the biggest challenges for accountants. Most firms struggle to charge what they’re worth, leading to long hours and low profitability.
But there’s good news. If you change the way you price, you can work fewer hours and earn more money without losing clients.
The key? Value pricing.
And with AI tools like ChatGPT for accountants, you can build pricing models that reflect your true worth, while automating parts of the process.
But before we get to that, let’s address the biggest myth about pricing that holds most accountants back…
Check out the full video on this topic here.
The Biggest Pricing Myth in Accounting
Most accountants believe their clients are price-sensitive. They assume that if they raise their prices, they’ll lose clients. But that’s simply not true.
In reality, most clients are value-sensitive, not price-sensitive. They don’t necessarily want the cheapest option, they want the best return on investment.
Here’s proof:
- Many of your clients own Apple products (MacBooks, iPhones, etc.). These aren’t the cheapest options, but they offer perceived value.
- People happily pay £3 - £5 for coffee from Starbucks when they could make it at home for pennies.
- Business owners invest in accountants and consultants not because they’re cheap, but because they help them make better financial decisions.
If clients say, “That’s expensive,” it’s usually because they don’t understand the value, not because the price is actually too high.
So, instead of undercharging, accountants need to price based on value, and focus on communicating that value to the client more effectively.
The Three Steps to Value Pricing
If you want to charge more while keeping clients happy, here are the three essential steps…
Step 1: Create More Value
Value pricing isn’t about charging more for the same service. It’s about making your service more valuable to the client.
Think about it, what makes Starbucks different from a basic coffee shop?
- They create an experience.
- They offer customisation.
- They have loyalty programs and perks.
So, how can accountants create more value?
- Offer strategic advice instead of just compliance.
- Automate low-value tasks so you can focus on high-impact insights.
- Use AI-powered tools like ChatGPT to deliver faster, smarter financial analysis.
If your service is more valuable, clients will happily pay more.
Step 2: Offer Pricing Choices
Most accountants only offer one price, which is a huge mistake.
Instead, you should use menu pricing (also called tiered pricing). This means giving clients three options, for example:
- Basic Package – Essential compliance services.
- Standard Package – Compliance + some advisory work.
- Premium Package – Full financial advisory services with ongoing support.
Why does this work?
- Clients love having choices.
- Some clients will pay more for premium service if you offer it.
- It removes pricing objections because they choose what suits them.
This is the same strategy Apple, Netflix, and many other successful businesses use. And it works!
Step 3: Communicate Value Effectively
Most accountants lose sales because they present the price before the value. When clients hear a number without context, they immediately think, “That’s expensive!”
Instead, follow this approach:
- Step 1: Explain the client’s pain points (e.g. cash flow issues, tax inefficiencies).
- Step 2: Show them how your service solves their problem.
- Step 3: Highlight the return on investment: how your service will save them money, reduce stress, or grow their business.
- Step 4: Only then do you reveal the price.
The more value you communicate, the less price becomes an issue.
FAQs
Why do clients still say “that’s expensive” even when I price fairly?
It’s usually because they don’t understand the value. The key is to explain the benefits first before revealing the price.
What if I lose clients when I increase my prices?
Some may leave, but they’re usually the wrong clients. The best clients want value, not the lowest price, so these are clients you can do without anyway.
Plus, if you raise your prices 20%, and lose 20% of your clients as a result, you’re still earning the same amount, but you’ve freed up an extra day of the week to focus on providing more value for your clients.!
How do I create pricing options for my firm?
Start with three packages, e.g. basic, standard, and premium. Use ChatGPT to help structure your service offerings.
Final Thoughts
Most accountants undercharge, not because clients won’t pay, but because they don’t position their pricing correctly.
By shifting to value pricing, offering pricing choices, and communicating value effectively, you can:
- Charge higher fees
- Attract better-quality clients
- Work fewer hours
And if you use AI tools like ChatGPT, you can automate much of this process saving you even more time.
In our next blog post, we’ll explore why value pricing is more important than ever, and how you can use ChatGPT to build a pricing system that works, so keep your eye out for that!
And, you can watch the full video on this topic here.
By combining automation with personal engagement, you can collect better feedback, improve your services, and grow your accounting firm.
If you found this valuable and would like to learn more about value pricing, we offer a free live online training session on a topic you choose every month. You can attend live and ask any questions you have. Click here to register, and we will send you an invitation to the next session.
If you’d like to join our community of over 10,000 accountants and bookkeepers who are working together on their value pricing journey, you can join the Facebook Group here.
Wishing you every success on your pricing journey
The Value Pricing Academy Team
