Monthly Fee Payments
Monthly Payment Scheme
All our business clients have the option of using our Monthly Payment Scheme, if they so wish.
Let's face it. It can be a challenge to budget for the annual Accountancy bill.
To make things easier we have set up a Monthly Payment Scheme which allows clients to spread the payments over the year. A standard monthly payment-on-account has the following benefits:
- No large amounts to find once a year when our annual fee note is rendered.
- Confidence in your monthly cash flow budgets.
- Incentive for you to consult us for advice regularly during the year so that our role is one of planning and not "firefighting".
- Any over or under payments at the end of each annual cycle of work can be rolled forward into the following year's monthly payments.
The mechanics are as follows:
- We provide you with a fixed fee quote and show you the calculations for how the fee can be spread by making monthly on-account payments by Standing Order. You decide whether or not you would like to take up this option.
- If you are happy to join the Scheme then you simply set up a Standing Order. ( Note: a Standing Order is under your complete control as the payments cannot be changed without your express authorisation - as opposed to a direct debit).
- You will receive a VAT invoice each month for the payments-on-account.
- At the end of each annual cycle of work we will confirm the final fee amount (which could differ from the original assumptions if, and only if, there have been some agreed changes to service requirements during the year), and issue a VAT invoice, showing payments made on account. Any under- or over- payments will be rolled forward into the next year's quotation and a new monthly figure will be proposed for your approval.
- If the service ceases for any reason, a balancing payment would be due either from Parry Hancock to you (if the payments-on-account exceeded the work done to date) or from you to Parry Hancock (if the work done to date exceeded the payments-on-account)
Fixed All-Inclusive Monthly Fee
As an alternative to our Monthly Payment Scheme we also offer some clients a Fixed All-inclusive Monthly Fee. This is also payable by standing order but the way it works is different.
This fixed monthly fee is a non-returnable fee covering all services at any time and the service is subject to one month's notice by either side. The fixed monthly fee covering everything enables easy budgeting for your accountancy costs.
We typically offer the fixed all-inclusive monthly fee to business clients where we are carrying our regular work, such as Quarterly Management Accounts and Monitoring.