We are honored you have selectedVerity Accountancy, PC for your accounting, auditing, consulting, tax and valuation services. As Trusted Advisors, we actively work to facilitate and implement systems and solutions matched to achieving our client’s stated goals and objectives. In the process, we seek to build rewarding client relationships by offering advice, experience and knowledge.
Such relationships are based on communication to ensure a clear understanding of what is to be accomplished and the manner for which services will be charged. In order to be successful, it is necessary to be comfortable, not only with the project(s) we are engaged to work-on, but also the investment required to pay for such work.
An accounting firm such asVerity Accountancy, PC should be paid a reasonable fee for work performed. The amount charged may be influenced by a number of factors: (a) the time required and the skill required to perform the service properly; (b) the fee customarily charged for similar services; (c) the time limitation imposed by the client or the circumstances; (d) the nature and length of the professional relationship with the client; and (e) the experience, reputation and ability of the accountant and firm.
In many cases we will request an engagement letter be executed, which describes the scope of work being performed and the intended fees to be incurred. As a result, the engagement letter and this Fee and Billing Policy (“Policy”) constitutes the agreement between the Client andVerity Accountancy, PC, unless otherwise agreed to in writing. In those situations where an engagement letter is not used (or required) then this Policy represents the agreement between the Client andVerity Accountancy, PC, unless otherwise agreed upon in writing.
The fee for charges represents the compensation paid for our efforts and services provided on behalf of the Client, while expenses reflect costs incurred on the Client’s behalf.
Fees: An accounting firm such asVerity Accountancy, PC bases its fees on the value of the time invested in our Client’s behalf by its partners, professional team and administrative personnel. Such a fee may be a flat rate for a specific service or computed as time accrues against the project(s). The basis for which a fee is charged is at the discretion of Verity Accountancy, PC unless otherwise agreed upon in advance. In all cases,Verity Accountancy, PC is sensitive to the costs associated with such projects; however, we seek to invoice for perceived value.
Billing: Verity Accountancy’s average billing rates for professional time vary from $85 per hour for team accountants to $250 per hour for partner time. Our fees will be rendered as work progresses and payable on the tenth of the following month. A monthly service charge of 1-1/2% is added to any balance outstanding for more than 30 days.
Collections: In the eventVerity Accountancy, PC must pursue action (legal or otherwise) for collection of fees, the Client is liable for all costs including attorney’s fees, collection and court costs in the enforcement of the terms agreed upon for services.
Expenses: The client is responsible for all fees incurred (generated) for outside services, unless agreed upon in advance or if a flat rate fee quoted specifies absorbing expenses incurred. Such expenses include on-line computer research, reasonable travel expenses, postage, or other expenses necessary. Should travel be required, the Client is responsible to pay all accommodations, meals and travel expenses (including but not limited to airfare, auto rental, mileage, fuel, parking, and so on).
Delinquent Account Procedures: Acceptance of you and/or your business as a client reflects our judgment that you will timely pay for the services provided; occasionally, however, an account becomes delinquent. Verity Accountancy’s billing policy requires the following procedure in the event an account becomes delinquent:
- Should payment not be received when the next month’s statement is issued, the past due statement will be issued with a late payment charge added to the balance past due.
- If payment has still not been received when the second succeeding month’s statement is issued, while at the discretion of Verity Accountancy, the account will be considered delinquent. The second past due statement will be issued with a late payment charge again added. This statement or subsequent statements may be accompanied by a notice that if payment is not forthcoming, legal or collection action may be instituted to secure payment. If the client has not contacted the firm regarding the unpaid amounts, all accounting work of a non-emergency nature may be suspended.
- Collection procedures will be instituted on accounts deemed delinquent when the succeeding month’s statement is issued, and all accounting work will cease. We cannot justify diverting our attention from those of our clients who regularly match that commitment by fulfilling their part of the relationship.
Service Questions: Please do not hesitate to call as we are available to answer any questions concerning your invoice and/or statement. We want you to understand fully the basis for our fees, and therefore welcome the discussion with you.
Once again, thank you for providing Verity Accountancy with the opportunity to serve your accounting, auditing, consulting, tax and valuation needs. We trust you understand a firm such as Verity Accountancy, like other organizations, must follow disciplined and sound business practices in order to meet its obligations and to maintain its professional reputation. It is our belief that implementing these procedures keeps fees down so that we may better serve our select clients.