April 5th Meeting Notes Bulleted Letters of Engagement
April 5, 2018
President Kim Boaz opened the meeting with introductions and shout-outs. There were new people joining us. Most people had nice things to say about how others in the group had helped them with an issue during the month but also praising the FaceBook page. Good to hear how technology is benefiting people
Kim shared that Leslie Gifford, CPA is currently experiencing a health-related issue. Besides having to deal with the issue it occurred during tax season adding extra stress. Steve Stegemen of Davis Graves CPA stepped up, is helping Leslie’s clients, at the previous agreed upon price and not taking any of the clients. They will remain Leslie’s clients. An example of how the group works to support and help one another. In that spirit, it was agreed that a donation bowl (or object) will be available at every meeting, all donations will go to either giving flowers or something for a member when they go through a hard time. Jeff Baker, ASAP Treasurer, will look into how donations maybe made on-line as many members stated they often do not carry cash.
Letters of Engagement workshop: Three participants shared their current Letters of Engagement. Discussion followed regarding these and some members shared that they don’t use an agreement. Some of the items that seemed to matter to most members are:
- Spelling out when payment is expected. One member shared that her invoices go out the 1st of the month and she auto deducts from her client’s accounts on the 5th – the agreement letter states this.
- Have a line in the agreement stating the rate can adjust or give a new agreement every year with updated rates.
- Some have more of a Project based agreement which states what they will and won’t do for the client.
Discuss then turned to the approach people take before accepting a new client
- Most offered an hour or more free consultation where they speak with the new client and review bank and financial statements
- Some charge if they look at any of the data
Another good meeting with active, informative discussion
- May 3rd meeting will be a presentation on QBA Management tools. Presented by Alicia Pollock There will be time for questions. Meeting will be at Meals on Wheels locationed at 7710 SW 1st, Portland, OR 97219. 11:30-1:00 pm and it is a bring your own lunch style meeting.