At Letts Accounting we believe in providing fixed price quotes before we commence any job. Providing a fixed price quote gives you certainty about how much you can expect to be invoiced for the services we are providing.
Why we provide fixed price quotes
Traditionally, accountants work out how much they are going to charge a client after they finish all the work. This means you are left completely in the dark about the amount of professional fees until you receive an invoice for the work already performed. This approach is different to almost every other industry. When you go to install an air conditioner, or build a house or go to the dentist, you can receive a quote in advance advising you how much you can expect to be charged. Why should accounting be any different? We believe that we are no more special than a builder, a dentist, a plumber or a doctor. That’s why we provide fixed price quotes up front.
What is involved in the process?
- Before we commence any work we will review with you what is required. We will send you a checklist to complete so we can determine the scope of the work. If we require any further clarification we will discuss this you.
- We will then send you a quote for your approval.
- If you accept the quote we will then commence work.
- Once we have completed the agreed upon work we will send the work out to you together with your invoice for payment (this invoice will match the quote we provided up front).
Can I ever be charged more than the original quote?
Our services will always match the quote we provided to you when the work matches the scope of work we have agreed upon. We are committed to providing fixed price quotes, however, this depends upon you disclosing to us all the information we need in order to prepare an accurate quote. If we find that there is something significant outside of the agreed upon scope, we will need to send you an updated quote for your review and approval. Below are a couple of examples of different situations.
You have fully disclosed all information to us
You may be one of our existing clients and come to us and say that you need your 2018 Financial Statements and Tax Returns prepared. You tell us that everything is pretty much the same as last year, your completed checklist and our brief review of your information backs this up. We then provide you with a quote which fully sets out the scope of the service we are going to provide. The work we complete for you matches the scope we have agreed upon and you receive an invoice from us equal to the quote provided.
You forgot to mention that you sold an investment property or started a new business
As we are working through your information we discover that you have sold an investment property, or started a new business that you have not previously told us about. When this happens we contact you and advise you that this is outside the scope of the the quote we provided. We will then provide you with an updated quote for this additional undisclosed work. To proceed further you need to approve this updated quote.
Your work took us longer than expected but the scope of work matches what we agreed upon
When we are agreeing upon a scope of work with you we determine that your bank accounts require additional reconciling. We provide you with a quote based on this information. Upon completing the work we discover that reconciling your bank accounts takes more time than anticipated and we spend an extra day sorting it out. We will only charge you what we have agreed upon in our fixed price quote. It’s our fault that we either underestimated the amount of work required or took too long to complete the work.
How do I obtain a quote?
The first step is to get in contact with us. We will organise an introductory meeting (in person, on Skype or over the telephone) so that you can get a to know us and we can start to understand you and your business.