Bookkeeping fee in advance

[Jiggers]

How many of you collect your monthly bookkeeping fee in advance?

How do you convert your current monthly clients who pay after the work is done to payment in advance? Or do you just start new clients with payments in advance?

If you bill by time, do you just estimate the fee and once a year adjust?

[Bees Knees]

I have never charged for any service in advance. Somehow it just doesn't feel like the right thing to do.

[BOB W]

Fees

I expect payment in the same month I'm doing the work. I bill on the 1st, for payment by the 10th ( very few pay by then). Most pay somewhere during the month. All work is completed by the 20th.

So, while I bill on the 1st and most work is completed by the 20th I am getting paid during the same month the work is being done. Works for me using flat rate billing.

[Black Bart]

Agree with Bees

on this (almost). Only thing I charge in advance for is prior years' tax returns because I've been burned a few times by vanishing clients. But even then, I just require half down.

Bookkeeping: It depends. Financially shaky clients are C.O.D. when they come to get the completed work. Good credit clients can send a check for last month's work with this month's to-do package.

I started all my clients this way, so I can't think of any easy way to convert them to up-front payment. Guess I'd just grit my teeth, tell them times are hard, fees have to be paid in advance from now on, and that's that (collect old account before making this speech).

Have no time billing. I set flat fee in January and raise $20-25 in 2-3 years or whenever it seems the time's "right."