A question I often hear from clients is, “How long do you think it will take?” “It” being the bookkeeping job they need me to complete.
It’s a reasonable question. Clients don’t hire me because they want to buy an hour (or 3 or 5) of my time, they hire me to deliver a result: a complete and clean set of books; fixing an issue with payroll or HST; setting up new bookkeeping software; posting the year-end adjusting entries, etc. But with hourly billing it can be hard to know how much it will cost to achieve this result.
Accountants and bookkeepers are increasingly turning to Value Pricing for their services. What is Value Pricing? Think of it like ordering from a restaurant menu: the menu items and costs are clearly laid out up front. Instead of agreeing on an hourly rate and not knowing the actual cost until the work is complete, you know what the job will cost before the work begins. It’s called Value Pricing because the cost is based on the value we bring to the client, not the hours spent completing a task.
How does this help you?
- Value Pricing brings clarity to the conversation. The scope of work and outcomes are clearly defined up front, and cost of the job is known before work begins.
- Value Pricing is easier for budgeting. A set price for one-time or recurring tasks lets you plan your cash flow more accurately.
- Value Pricing means buying a result, not time. You get the benefit of our expertise and experience without worrying about how long the job will take.
How can you take advantage of Value Pricing?
RLB is now offering two new Value Priced services to our clients!
Service 1: Converting to Quickbooks Online
Converting to Quickbooks ONLINE from Quickbooks desktop version:
- no payroll $299
- with payroll $449 (up to 10 employees)
Converting to Quickbooks ONLINE from Simply/SAGE:
- no payroll $399
- with payroll $549 (up to 10 employees)
- formatting QBD / SAGE file for conversion
- reviewing converted file to ensure accuracy of transferred data
- confirming Accounts Receivable and Accounts Payable subledgers balance to the General Ledger and matches the desktop file
- confirming bank and credit card accounts are ready to be reconciled in new online file
- confirming GST/HST subledger balances to the General Ledger and matches the desktop reports, and is ready for next filing date
- changing the settings in Quickbooks Online to match the client’s needs
- providing client with instruction manual and reference sheets for working with Quickbooks Online
Service 2: Posting Year-End Adjusting Journal Entries
Posting year-end adjusting journal entries:
- in Quickbooks ONLINE $199
- in Quickbooks Desktop or in Simply/SAGE Desktop $249
- correcting for any entries posted into closed year in error by client after file provided to RLB for year-end
- posting all year-end Adjusting Journal Entries
- applying Accounts Payable and Receivable credits created from year-end entries to appropriate vendors and customers
- applying corrections from year-end entries against old outstanding items in bank / credit card reconciliations
- setting closing date in Quickbooks / Simply file
We will be rolling out more value-priced services soon – stay tuned!
Can’t wait?! Our sister company Amplify LLP also offers a full range of value-priced cloud accounting and bookkeeping services – check out www.amplifyllp.ca to learn more.