I have my engagement letters with a 12 month end date, but they are not locked in. I just do it for the opportunity to raise prices at the time of renewal
Can you share how you would go about firing a client? I have a very difficult client that has stressed me out for too long. How can I tactfully let him go? Thanks for your help!
Subject: "Transitioning Bookkeeping Services" Hey, I hope this message finds you well. I wanted to inform you that, unfortunately, I will no longer be able to continue providing bookkeeping services for you. However, I am more than willing to assist with a smooth transition as you find a new bookkeeper or transfer the responsibility to someone else. Please let me know how I can be of help during this process.
I give a scope of work and note that anything outside the scope will cost hourly. I also mention that I evaluate every quarter and if there are added accounts or consistently have more transactions then when I started they would be moved to my next price range
I would try to add up their transactions from the previous 12 months, divide that by 12 and then multiply that by $2 or $3 to calculate the monthly bookkeeping fee
This is an example of when I use %of annual revenues as well as volume of transactions and estimated hours/consulting time to factor the bid for the job.
Thank you for sharing your experience... is very helpful! At least your clients said when they were living... I had one that just stop repling... that's it... I'm still asking my self what happened? 😅
Hey Zach, are any of your real estate clients involved in 1031 Exchanges? If so, do you charge extra for this type of bookkeeping or do you incorporate this in the number of transactions you charge?
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I have my engagement letters with a 12 month end date, but they are not locked in. I just do it for the opportunity to raise prices at the time of renewal
That's smart!
I appreciate you sharing some challenging situations.
Thanks for watching!!
Hey Zach, unrelated question but how do you get over putting your face out there?
You do it every day for 6 months until you feel comfortable
Can you share how you would go about firing a client? I have a very difficult client that has stressed me out for too long. How can I tactfully let him go? Thanks for your help!
Subject: "Transitioning Bookkeeping Services"
Hey,
I hope this message finds you well. I wanted to inform you that, unfortunately, I will no longer be able to continue providing bookkeeping services for you. However, I am more than willing to assist with a smooth transition as you find a new bookkeeper or transfer the responsibility to someone else. Please let me know how I can be of help during this process.
I agree with you on the 12 mo contracts... Month to month with everything - happy clients
Yes! I don't like feeling stuck in contracts
I give a scope of work and note that anything outside the scope will cost hourly. I also mention that I evaluate every quarter and if there are added accounts or consistently have more transactions then when I started they would be moved to my next price range
That's a smart idea!
Do you do bookkeeping for seasonal businesses? How do you quote this?
Same way you quote for a regular business
I would try to add up their transactions from the previous 12 months, divide that by 12 and then multiply that by $2 or $3 to calculate the monthly bookkeeping fee
This is an example of when I use %of annual revenues as well as volume of transactions and estimated hours/consulting time to factor the bid for the job.
Thank you for sharing your experience... is very helpful! At least your clients said when they were living... I had one that just stop repling... that's it... I'm still asking my self what happened? 😅
Oh wow! You never know what might happen next
Hey Zach, are any of your real estate clients involved in 1031 Exchanges? If so, do you charge extra for this type of bookkeeping or do you incorporate this in the number of transactions you charge?
No, they are not, sorry!
Do you charge more for 1099’s?
I did not charge for them in my first 3 years, but I think I'm going to charge for them next year
You are really awesome!! Thanks!!
Glad it helped!