I am looking to offer fixed fees to my clients where possible and collect by monthly standing order....... or direct debit eventually.
without fixed fees I might have quoted say £1,000 per year accounts/tax £75 per quarter VAT and £25 per month PAYE.
So with fixed fees on standing order this adds upto £1,600 and therefore £133.33 per month
I am interested to know how other people work a situation where you gain a new client who is already past their year end or even part way throught their financial year.
1) do you raise a one of bill in respect of the work that is in arrears (the previous years accounts)?
- This is best for my cash flow and risk but i'm worried it doesn't look good for new clients... "I do fixed fee's payable on standing order.... but by the way here's a bill for a £1,000 to start us off!".
2) do you do the work that is in arrears as part of your monthly standing order but stipulate that the standing order must run for twelve months?
- if the the accounts are due straight away I dont like the idea of doing £1,000 of work immediately and then taking 7.5 month to get paid by which time the next years accounts will probably be due... and that sounds like a vicious cycle to me.
3) or is there a another way i haven't thought of?
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