Pricing Transparency Policy
Effective Date: 20 February 2025
Purpose:
At Finance Partners, we are committed to maintaining the highest standards of integrity and professionalism in all aspects of our services. We believe that transparency in pricing is critical to building trust with our clients and ensuring that they can make informed decisions about the services they receive. This Pricing Transparency Policy outlines how we communicate our fees, billing practices, and any other costs associated with our services.
1. Clear and Upfront Pricing Information
We provide clear and transparent pricing for all services offered by our firm. This includes:
Standard Service Fees: Our fees for standard accounting services (e.g., tax preparation, bookkeeping, audit services, financial consulting) are communicated upfront. Clients will receive an itemized list of expected costs prior to commencing any work.
Hourly Rates: For services charged by the hour, we will disclose the applicable hourly rates for each professional involved and an estimate of the time to complete. Any time outside of our estimate will be communicated with you as soon as we are aware of the possibility. These rates will be shared prior to starting any billable work.
Flat Fees: For certain services, we offer flat-rate pricing. Where applicable, clients will be informed of the total cost of the service in advance, with a breakdown of what is included.
2. No Hidden Charges
Our pricing model is designed to eliminate surprises. Clients will not be charged for services or costs that have not been explicitly discussed and agreed upon in advance. We will not add hidden fees for administrative costs, phone consultations, or routine correspondence unless previously outlined and agreed upon in the engagement letter or service contract.
3. Engagement Letters and Agreements
Before beginning any work, clients will receive a detailed engagement letter or service agreement that outlines:
The scope of the services to be provided
Estimated fees or rates for those services
Payment terms (e.g., due dates, retainer requirements, and late fees)
Any potential additional charges for services outside the initial scope of work, with clear guidance on how these charges will be communicated
4. Billing Practices
Our billing process is designed to be straightforward and understandable:
Frequency of Billing: We will communicate the frequency of billing (e.g., monthly, upon completion of work, or at specific milestones).
Detailed Invoices: Clients will receive invoices that include a clear breakdown of services rendered, the amount of time spent (if applicable), the rate charged,
and any other relevant costs.
Payment Terms: Payment terms will be specified in the engagement letter and on each invoice. Payments are expected by the due date indicated, and late payments may incur a late fee.
5. Communication of Any Changes to Fees
In the event that pricing needs to change due to unforeseen circumstances or scope changes, we will notify clients in advance. Any changes to agreed-upon pricing will be discussed and documented before additional charges are incurred. Clients will be informed promptly of:
Increases in hourly rates
Changes in the scope of services or fees
Additional costs related to specific tasks or unexpected issues
6. Client Approval for Additional Charges
For work that falls outside the scope of the initial engagement, we will request written approval from the client before proceeding with the additional work and any associated charges. This ensures that clients are fully informed of any costs before they are incurred.
7. Availability of Pricing Information
We will make our pricing structure readily available to current and potential clients. Clients can request detailed pricing information by contacting us.
8. Client Satisfaction and Dispute Resolution
We strive to ensure that our clients are satisfied with both the quality of our work and the fairness of our pricing. If a client has any concerns about fees or billing, we encourage them to contact us directly. We will work with the client to resolve any discrepancies or misunderstandings in a transparent and fair manner.
9. Conclusion
At Finance Partners, we take pride in offering transparent, fair, and competitive pricing for all of our accounting services. We believe that clear communication about our fees helps foster strong, trusting relationships with our clients and ensures that their needs are met with professionalism and integrity.
For any questions or clarifications about our pricing, please feel free to reach out.