Can somebody please advise as to how you can ensure that the clients pay you after you have submitted them the book keeping work? Should some terms and conditions for payment be put on the invoices sent to the clients? As you would not know the number of hours that would be required while accepting the work , should you ask for some advance/deposit to protect your business?
Do you give your clients a `letter of engagement` before taking on any work ? if not, this would be your starting point in setting out your terms and conditions such as payment.
At the moment I am still trying to find my feet particularly when quoting for work. So far, on my initial meeting with a client I will ask them simply what they want from a bookkeeper; maintain sales/purchase/nominal ledgers, reconcile bank a/c, VAT reports, management reports etc., Frequency, ie weekly, monthly, quarterly. Also ask about their current arrangement, from this you can get an idea of how long it will take to carryout the work they want and quote accordingly.
I invoice the client when I have completed the work, for me this is monthly, and state on my invoice the terms of payment which they have already agreed to in the `letter of engagement`. Some are very happy to pay up on receipt of invoice/completed work, others I have agreed 14 days and 28 day terms.
I have not come across a client who has refused to pay so far, but I am sure I will one day. If this should happen I know of a Business Debt Collection Solicitors who for a fee of £2.00 + VAT will issue a Letter Before Action. In my `day job` as a bookkeeper for a small engineering company, I use these Solicitors from time to time and it normally prompts payment.
It is very hard to know what to do, because you want the work, but if you have a feeling when first meeting a client that perhaps you may have problems, sometimes its best to walk away.
