Since our firm was started in 1997 we have been using a 'time multiplied by rate per hour' method to determine the price of the work. Nearly every accounting firm worldwide uses that method.
We have come to the realisation that this method is an archaic method of pricing. It is also a conflict of interest because what it means is (as an industry) we are directly rewarded for how inefficient we are. The longer we take to do the job the more we get. It is not promoting good customer service of faster completion time. And not only that you have no idea how much the job will be until the bill is received.
We don't think that is fair on you. As a courtesy to you we think you deserve to know in advance how much the job will cost and what it entails.
As a modern & progressive firm we have decided to change this ‘old’ business practice as of [date].
This means that before every job starts we will advise how much it will cost. There will be a written communication that you will need to sign off on. If you are uncertain about the project, the price or the benefits, you will have the opportunity to discuss these with us at the outset.
We appreciate your business very much and are confident that this new method of pricing will enable us to give you far better service.
Our payment terms
Our fees are due for payment either on or before 14 days of receipt of invoice. Please note that an administration fee of $20.00 per month applies to late payments of fees. This will show on a monthly statement issued to you.
For your convenience you can pay us via Credit Card, Eftpos, Cheque, Electronic Funds Transfer (EFT) and of course cash.
We are able to offer a 5% discount on the total amount, if full payment of the estimated fee (less discount) is received with the signed acceptance within 7 days of receiving an engagement letter.
Payment plan of fees
We also offer a service called Premium Funding. This allows you to pay your fee over 6 to 12 months at a low interest rate (similar to an overdraft rate). This can be more convenient for your cashflow in your business. Please contact us if this interests you.