Thanks, so if I invoice monthly, that would be approximately 6 weeks worth of billing. Say I get 50 per hour, that would be 12,000.
Do your clients balk at that ? I only got burned for about 1,200 but it was enough to wipe me out as I had no reserves and utilities come around real regularly. Started the BBB and small claims court stuff yesterday morning. I'm pretty sure I will get a judgement, but probably never collect the funds. I had a previous client that I developed a VFP electronic invoicing (kind of an EDI application) for last year contact me this morning about another one, so hopefully that will help if it materializes. Virgil -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] On Behalf Of Paul McNett Sent: Friday, July 11, 2008 4:53 PM To: [email protected] Subject: Re: [NF] Retainer Billing Virgil Bierschwale wrote: > I recently got stiffed by a client and I have decided that I need to > start billing like an attorney does by getting a retainer up front > when I'm not working through a contracting agency. > > Can any of ya'll give me ideas on how such an arrangement works ?? > > I'm assuming I get a couple of weeks worth of wages, or a few thousand > and then I invoice against it and at a certain point, I bill them for > an additional few thousand ?? I bill for my time, but show the retained amount on the statement. So, say I'm going to start work for ABC Corp. Along with the contract I collect a deposit that will cover 1.5 billing periods, and apply that to their account. Then I work my hours, and invoice regularly. I'll remind them to replenish their account or work will stop. Statements will show beginning balance, invoices, payments, and ending balance. If that ending balance goes zero or below I'll stop work immediately and make every attempt to get another deposit ASAP. After a while of doing this I may let the retainer run out and put them on 2%10 Net30 terms, meaning I trust them now. Less hassle not dealing with the accounting of the retainer, but I always start out a new client with a retainer. I got seriously burned several years ago, by 2 clients at the beginning of the bust, to the tune of something like $35K total. At the time I could cover it and move on but boy could I use that money right now. Paul [excessive quoting removed by server] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[EMAIL PROTECTED] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
