How to Charge What You’re Worth

For many South African accountants, increasing their rates can feel like a tightrope, especially when they’ve built long-term relationships with clients or supported them through challenging times. But holding back on rate increases can quietly erode your profitability and leave you overworked, undervalued, and running a practice that’s just trying to keep up.

Raising your rates isn’t about being unreasonable. It’s about recognising the true value of your time, expertise, and the evolving demands of your profession. The expectations placed on accountants have grown; clients rely on you not just for tax compliance, but for guidance, business insight, and always-available support. At the same time, your costs have increased, from software and cybersecurity to training and staffing. If your pricing hasn’t kept pace, you’re absorbing more than you should.

So, how do you approach a rate increase in a way that feels fair and professional?

Start by reviewing your client base and the scope of services you’re currently offering. Have you taken on more advisory work or more frequent support without adjusting your fees? Many accountants continue to add value year after year, while still charging based on outdated expectations. It’s time to recalibrate.

Next, plan your timing. Align your rate increases with annual engagement renewals or the start of a new billing cycle. Avoid periods where clients are already under pressure, such as tax seasons. The goal is to communicate confidently and early, not apologetically. A clear message like, “We’ve reviewed our pricing to reflect the expanded scope of services and our continued investment in quality support. New rates will take effect from [date]” sets the right tone.

Clients value transparency. When they understand the reason behind a price change, whether it’s better systems, more access to advice, or higher quality service, they’re more likely to accept it. This is also a good time to remind them what you’ve added over time: more detailed reports, direct communication channels, strategic check-ins, or proactive tax planning.

And while not every client will accept a fee increase, that’s okay. A rate adjustment helps you filter out relationships that are no longer sustainable and focus on clients who genuinely value your input. A healthy practice is built on mutual respect, not low fees and high demands.

Practice management software like SmartPractice can be a powerful ally in this process. It helps you track time spent on each service, see which clients require the most attention, and get a clear picture of where your resources are going. This data gives you the confidence to have those pricing conversations backed by facts, not just gut feel.

Raising your rates isn’t just about making more money. It’s about building a practice that works for you, one where you’re valued, respected, and fairly compensated for the professional service you provide. Your clients count on you to know your worth. Make sure your pricing reflects it.