Do you charge an on-boarding fee?
I have a “clean up” rate which is the same as my highest rate and “catch up” rates. Each are higher if they come on board between Jan 1- April 1st. After things are squared away, their hourly reverts to my normal bookkeeping rate.
Additionally I keep payment information on file. I bill 2x monthly and auto debit them for my hours. If a payment doesn’t go through (rare), I stop working. Also gives them the opportunity to pump the brakes if billing starts to go higher than anticipated.
I don’t charge any type of on-boarding fee for new start ups. I think it discourages good clients that are trying to start off in the right direction, but are still on a budget.
Alicia Van Sickle is the owner of Launch Accounting – The affordable bookkeeping, management & financial accounting solutions for Charleston’s startups and growing businesses.