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 ??
Thanks,
Virgil Bierschwale
(830) 329-6774 Cell
(830) 864-4726 Office
(830) 864-4799 Fax
http://www.bierschwalesolutions.com
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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
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: profox-bounces@leafe.com [mailto:profox-bounces@leafe.com] On Behalf
Of Paul McNett
Sent: Friday, July 11, 2008 4:53 PM
To: profox@leafe.com
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]
Virgil Bierschwale wrote:
> 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'd rather them balk and say "no, thanks" before I've done the work.
But I tend to work on a few projects/clients at a time, so any one
client won't be that high in a given period (well, sometimes they are).
My biggest client I trust implicitly (I know, probably a bad idea) and
I've never had a retainer system set up with them.
> 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.
Good luck!
Paul
On Jul 11, 2008, at 4:59 PM, Virgil Bierschwale wrote:
> I'm pretty sure I will get a judgement, but probably never collect the
> funds.
If you have a bank account number (from a check, for example), for a
small fee you can send a county sheriff over to collect. I don't
remember the details, but my Dearest One managed real estate for a
long time and knows all of the tricks. She would remember if you want.
Ken
I should have said "over to the bank to collect" a judgement.
On Jul 11, 2008, at 5:43 PM, Kenneth Kixmoeller/fh wrote:
>
> On Jul 11, 2008, at 4:59 PM, Virgil Bierschwale wrote:
>
>> I'm pretty sure I will get a judgement, but probably never collect
>> the
>> funds.
>
> If you have a bank account number (from a check, for example), for a
> small fee you can send a county sheriff over to collect. I don't
> remember the details, but my Dearest One managed real estate for a
> long time and knows all of the tricks. She would remember if you
> want.
>
> Ken
>
>
[excessive quoting removed by server]
I'd put him into collections first. One of my customers is a collections agency, so if you're interested i'll set you up. 35% fee if he collects, nothing if he doesn't collect.
If that doesn't work, then I would pay someone to break his legs.
--- On Fri, 7/11/08, Kenneth Kixmoeller/fh <foxhelp@information-architecture.com> wrote:
> From: Kenneth Kixmoeller/fh <foxhelp@information-architecture.com>
> Subject: Re: [NF] Retainer Billing
> To: "ProFox Email List" <profox@leafe.com>
> Date: Friday, July 11, 2008, 6:43 PM
> On Jul 11, 2008, at 4:59 PM, Virgil Bierschwale wrote:
>
> > I'm pretty sure I will get a judgement, but
> probably never collect the
> > funds.
>
> If you have a bank account number (from a check, for
> example), for a
> small fee you can send a county sheriff over to collect. I
> don't
> remember the details, but my Dearest One managed real
> estate for a
> long time and knows all of the tricks. She would remember
> if you want.
>
> Ken
>
>
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Author: MB Software Solutions General Account
Posted: 2008-07-12 01:03:52 Link
Michael Madigan wrote:
> I'd put him into collections first. One of my customers is a collections agency, so if you're interested i'll set you up. 35% fee if he collects, nothing if he doesn't collect.
That's not a bad deal.
>
> If that doesn't work, then I would pay someone to break his legs.
LOL! An Italian client of mine suggested I take my wife fishing instead
of going through a costly divorce. <gd&rvvvf>
> LOL! An Italian client of mine suggested I take my wife
> fishing instead
> of going through a costly divorce. <gd&rvvvf>
I would favor the ice pond like at the end of "To Die For"
Kristyne McDaniel
http://www.shamrocktrails.com/legal/
Whether you think you can, or you think you can't.... you are right.
-- Henry Ford
Suposedly this guy I knew put in a multi-thousand dollar computer system for a lawyer. When it was all finished the lawyer said, "I'm not paying you, sue me".
So he went to the lawyers office, asked for a few minutes, shut the door and in a low, deliberate, calm voice said to him, "if you don't pay me, I'm going to kill you.
Urban legend? Who knows.
************************************************************************
Right Wing Mike
Bigfoot Hates Obama
http://www.cafepress.com/rightwingmike/5690856
I Wish Hillary had married OJ
http://www.cafepress.com/rightwingmike/4236924
--- On Sat, 7/12/08, Kristyne McDaniel <newsbox@mcstyles.com> wrote:
> From: Kristyne McDaniel <newsbox@mcstyles.com>
> Subject: RE: [NF] Retainer Billing
> To: "'ProFox Email List'" <profox@leafe.com>
> Date: Saturday, July 12, 2008, 1:49 AM
> > LOL! An Italian client of mine suggested I take my
> wife
> > fishing instead
> > of going through a costly divorce.
> <gd&rvvvf>
>
> I would favor the ice pond like at the end of "To Die
> For"
>
> Kristyne McDaniel
> http://www.shamrocktrails.com/legal/
>
> Whether you think you can, or you think you can't....
> you are right.
> -- Henry Ford
>
>
>
> _______________________________________________
> Post Messages to: ProFox@leafe.com
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> This message:
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> ** 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.