Hi everyone,
I’ve recently got a new client for bookkeeping who’s a sole trader, they’ve asked me if I can take over raising their invoices for them. It looks straightforward they only have approx 10 invoices a month to raise and they’ve said they’ve never had any problems with getting payment. It’s a job I can do but I have no idea how much to charge?? Should I quote for the service to raise invoices and if payments need chasing quote for that service separately? I was going to build the reconciliation to check payments have been received into my bookkeeping work, is that the right way to do it? Any help or advice would be most appreciated!!
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Fixed rate fees might be the way forward these days but, ultimately, those fixed rates are based on your assessment of the time it takes to perform the task and your required hourly rate.
Do a dummy run if you're unsure and don't forget to allow for the time it takes to gather the information you need and resolve queries.
Where bookkeeping is concerned and you've not done that for the client before, I'd always go for an hourly rate. Tell them how much you think you'd charge based on that and what you've seen so far. Then just carry on with that. I find that clients like this get the same charge each month, after the first few months when I'm setting up things. None of those clients have ever asked for a fixed fee because they know how much it's going to be each month based on the previous one, and if one or two months are exceptional I can tell from my time sheets exactly why.
And that's the other thing. I'm totally transparent in that every month I bill them for the previous month, attaching typed up details of how my time was spent. So if they're good quality clients, they know where they stand and will pay on time.
We charge £3 + VAT per invoice when we raise invoices for clients.
For credit control service we charge £5 + VAT per month for average number of debtors to be chased each month. So if say there is 10 debtors on average to be chased in a month would charge £50 + VAT per month.