Small business owners, especially Certified Public Accountants that run their own accountancy firms, need to understand the importance of billing their clients and customers. Different people and firms have different ideas of how billing should happen, and therefore have different systems for collecting accounts recievable. One way is to bill for every service provided. Another way to bill clients is to send a bill every month, every two weeks, or on another time frame that is agreed upon.
Key Takeaways:
- Before choosing how you’re going to bill your clients, it is important to evaluate which services are most valued by your client base.
- Jody Grunden claims that when she attended CPA conferences across the nation, she got to hear the experiences from several different CPAs.
- Many CPAs claim that they do not want to bill their clients for their time out of fear that they may not retain them.
“Client billing can include hourly billing, but it can also include flat-fee, retainer-based and/or value-based billing.”
