{"id":79083,"date":"2020-09-02t12:30:26","date_gmt":"2020-09-02t16:30:26","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=79083"},"modified":"2024-08-14t09:30:18","modified_gmt":"2024-08-14t13:30:18","slug":"6-ways-to-increase-your-fees-if-you-dare","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/09\/02\/6-ways-to-increase-your-fees-if-you-dare\/","title":{"rendered":"6 ways to increase your fees … if you dare"},"content":{"rendered":"
<\/a>reverse value billing defined.<\/strong><\/p>\n by ed mendlowitz<\/i> working out how to set fees and using value pricing or value billing can sometimes be daunting.<\/p>\n more:<\/b> creating a cross-selling culture<\/a> | when time-based pricing works<\/a> | how auditing is like a pirouette<\/a> | \u00bfque es bookkeeping?<\/a> | testifying before congress<\/a> | underpaying others hurts you, too<\/a> | my top 10 personal game changers<\/a> | yes, christopher columbus had an accountant<\/a> | 10 reasons for my success<\/a> we are in this business to make a living, so we have to become adept at pricing, billing and collections. one thing that vexes me is colleagues who tell me they never would value price or bill, and then they engage in what i refer to as \u201creverse value billing.\u201d i have done it and occasionally still do it. however, now i also look for opportunities to increase my fees on other projects based on the value created. so should you.<\/p>\n some of these \u201creverse value billing\u201d situations are:<\/p>\n other times the notice is for a relatively small \u201cpenalty\u201d amount, yet we need to deal with it because there is a perception that we made an error (until we prove otherwise) and that is upsetting to the client even if that is not the case. that is also time usually not compensated a comment on billing: the above illustrations assume you do not charge the client on a time basis. if you did, you would be compensated at your regular rates for these efforts. did it ever occur to you how the client would feel if they knew what they were paying for some of this work? would that be good business?<\/p>\n another comment for those billing tax returns strictly on a time basis: when an inexperienced or untrained staff person makes excessive errors, causing way more review and correction time, you make more than the accountant who charges on a fixed fee or \u201cright fee for the right service\u201d basis. the latter accountants have to \u201ceat\u201d the extra time because of their poor quality. it would seem the incentive to improve processes and training would be greater for the accountant billing on a fixed-fee basis than the one who bills on a time basis.<\/p>\n one final comment: with small balance due tax notices or refund returns where there is no obligation to file, it can be a lot less expensive for the client to just pay the bill or forgo filing. in these situations you need to be careful you don\u2019t appear flippant. flippancy toward important matters such as irs notices can cause a client to lose confidence in you. take care and be patient in explaining the cost\/benefit of not fighting the notice and making the payment or not filing solely to get the refund.<\/p>\n","protected":false},"excerpt":{"rendered":"
\ncall me before you do anything: the art of accounting<\/i><\/a><\/p>\n
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\nthis is where the accountant marks down the bill before even presenting it to the client. this seems to occur in situations where our costs and efforts greatly exceed what we feel we can reasonably charge the client or the value to the client, and we routinely mark down the bills on our own.<\/p>\n\n
\nfor.<\/p>\n\n