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Client Charging / Rates

  • 4 posts
  • # 76915

Hello,


I am about to send off for my practice licence, and study level 3 whilst working. When you receive this are there are areas on the ICB website or does the ICB provide any postal guidance on client pricing.


I realise that some people provide fix prices (i like this idea!) and some charge hourly, and that every client is different.  I just wanted a benchmark.     


Can anyone help.


Many Thanks


Justine    
kjmcculloch
  • 1159 posts
  • # 76917

Hi Justine,

I've not seen any guidance from ICB on this, though thast not to say it doesn't exist.

If you drop me an email to kris@kmbookkeeping.co.uk I'll explain a bit about my pricing structure which might be of some help to you.

Regards

Kris 
  • Fellow PM.Dip
  • Practice Licence
  • 3 posts
  • # 76919

Hi Justine,

I have found that most clients like to know in advance what they will be expected to pay. I have found that encouraging clients to pay a monthly DD usually works. If you compile a clients accounts on a monthly basis you soon get a good feel for the time required and your costings. This doesn't work with all clients as some clients are not as diligent with their record keeping as others and often require more attention.
So I tend to charge a hourly rate initially then offer fixed rate once I get to know the client.

Hope this is useful

Chris  
  • 4 posts
  • # 76922

Thanks kris


I've just sent you an email.

Justine     
kjmcculloch
  • 1159 posts
  • # 76924

Chris Hsaid:

“I have found that encouraging clients to pay a monthly DD usually works. ”

Hi Chris, 

If you can offer fixed prices Standing Orders are a lot cheaper than direct debits.

Kris 
  • 4 posts
  • # 76960

Thanks Chris


Thats very helpful.  I think that setting clients up to pay monthly dd / ss are a great idea, this would help eliminate the risk of none payers !


Regards


Justine   
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