Effective Pricing with Kimme Lafayette: Efficient Integrations - Payment Plans and Software Tools

So how to price a cleanup project is one of the most highly asked questions that I get from people when I'm doing coaching with them on effective pricing. As with most things that we need to do with value pricing, Mark gives us so much information. So there is actually a template model for this. If I go into the model management screen screen where, where I am here and I scroll down, there is a model here called Cleanup work. If I just click on use that model, it takes a minute and I'm just going to say.

Change the name a little bit to call it EP Demo.

It's not going to be recurring work, obviously, because it's a cleanup that we're doing. You can change the icon. I kind of like the paintbrush. It kind of means that I'm renovating or something. I'm going to leave it not live for now. And then you can choose which template you want. So I'm going to say fixed price page and payment plan page. So those are ones that we set up. If you're not seeing that in your software, those are templates that we set up in a previous training session. You might just have the default pages right now. And then as with anything, I am clicking save and continue.

And you know what?

Oh, sorry. Lost my train of thought for a minute. Okay, so now we are into the list of questions that Mark gives us in the model. You can see there's quite a few here when I scroll down. And again, they're broken into sections and a section appears as a separate page for each client.

So when you are doing this, if you find you want a separate section, maybe there's a service that you're offering that isn't here yet. You can just click on add section and then you can start putting some questions in there that are related. So as I go through this model a little bit, I'm going to ask everybody, if you're already using this model, what are some of the other questions or modifications that you've changed? I'm going to ask you to post those into chat again just because I think this is a community where we can all share information with each other. I'm certainly going to share with you some of the ones that I use, but I think it would be great if anybody that is pricing cleanup could share some of theirs as well.

Remember, before I go into the software and start going through these services, you always want to consider using a brochure specific for this service. Like all things that we've taught in Value Pricing, you want to find out what the Pain is that the client is feeling behind what the service they're looking for is. So that way you can build up the value and explain the benefits. Then when you're showing them your packages and you find out which package they're leaning towards, by the time you get to the software, you just need to go through the questions to build up the actual price. So I'm just going to go whoops, back one screen.

I went back in the wrong spot and I am going to make this live.

And then let's go look at an actual.

Everybody will know from previous questions or previous sessions how to edit the pricing on a question. So I'm not really going to spend time doing any of that. You can see some of the questions that are in here. How many months behind are you? That's obviously a great one. What accounting system do you use? You want to know? I. I will have found this out in some of my preliminary steps ahead of time because I only deal with people that are using qbo. That's my ideal client. And if they're not using qbo, then they have to switch and I charge them. A QBO setup thing, which is another one that was on our agenda that we're going to look at today. Are they registered for sales tax? What type of business is it? How many bank accounts do they have? How many credit cards do they have? Is there any foreign. Foreign currency transactions? I'm just skimming some of the ones. Are they behind with cra? So here in Canada, that's our governing tax agency. So cra, are they. Are they that far behind that their sales tax is late or their income tax is late or maybe their payroll tax is late? So these are all things that I want to know. Do you want the fast track service? So this is something that I would typically have in my enhancements area.

I personally don't have this question about doing the work at your premises because I'm only virtual, but someone else might be. So Mark gives us a lot of examples here that we can certainly build on.

Then we have some settings here. Again, we've gone through all of those. I'm just gonna skip through quickly. We have our packages page, which again, if you have a brochure and you can go through and design your packages page so that it all looks different when you're revealing it to a client. Here's our behavior rewards. So some of the examples. Will you move to our preferred accounting system if you don't need the operational review and you want a full report instead you get a 10% discount. And if you pay in full in advance because sometimes a cleanup job might take a few months. Right. And if they pay in full in advance, that's a great behavior reward to offer them a discount.

Then we have some upsells, some enhancements, submitting corrected information to the tax authorities. Do they want us to do that on their behalf? And then do they want us to give them some training and systems advice going forward?

So I'm going to jump into this.

On a customer view as if we were doing this.

And I'm just going to drop in a few random questions answers here.

And we'll look at their price at the end.

Say three.

Three. Yes. Yes.

I'm just gonna keep saying yes to everything. Okay, so now here we are on our price reveal page. As we know the price isn't revealed yet until we click the fixed price button. We would take a moment and go through this packages page with them just like we would if we had a bro. And before we reveal the price we ask them which package they are leaning towards and we would go ahead and select that. Just click it once and it will highlight that package. So we know and they can easily see that that's the one that they are leaning towards. Then we can click on our fixed price reveal page. This demo model is set up for three different packages. Of course we have our tool tip that has information in it and then we have this one is obviously a one time price and then the full cleanup or the premium cleanup is split up into three different payments. And so those are all things that you're capable of doing in the software which we looked at in previous sessions where you can set up one or two of your packages that are on payments and then another package isn't on payments. It's a one time fee that they pay. So let's say your Customer says yep, three payments of 572 is great. We're going to keep going. They either agree or they don't agree. If they agree, great. If they don't agree then we can go back to some of the questions and we just keep going back and forth until.

Until we arrive at a price that works within their budget. So I'm just keep going. I want to have a finished quote for today for us to use. We're going to look at this payment plan page a little bit more later. So here's our three payments of 572. Here's our sales tax rate again, I know I'm going through this pretty quickly. I apologize if you haven't seen some previous sessions, but I just want to get to an active quote that we can use for some of our other stuff today. Okay. And then of course we get the option to create the proposal or generate the price success metric. I'm going to go back to that later. So that is the cleanup project model.

When, when we get to the point where maybe their price is too high, you can choose whether you want to show them the behavior reward section or not. It might be a client that maybe you're iffy about if you want to work with them or not. And you may be like, okay, you know, sorry, we're not a good fit. Or if you do really want to work with them, you're they're in your niche, you know, maybe you'll get some good referrals from them or they're a referral from a good client.

Then you could choose to use your behavior rewards button and offer them some discounts.

So some of the.

Other examples. So I see Stephanie dropped an example into chat that she asks about how many payment processors. That's a great one. Thank. Thank you, Stephanie. Some other ones that I use are, I call it Receipts Done Right. And that's if they scan all of their receipts with the proper expense coding of where they would like it posted to written on the receipts. So they would have a list of their chart of accounts and that just saves me time. Proper info for their meal receipts. So here in Canada, they have to write on the receipt who the meal was with and what the purpose of the meeting was for. Another one that I have is early bird files. So if they provide their documents before a specific deadline, this one is really popular with people that do income tax preparation, invoice and payment trail. How often do you see deposits on a bank statement that don't match what's in their accounting system? So if they have records, and typically it's because they've got a bunch of payments combined into that deposit, but of course they haven't recorded it properly in their software. So they, if they have a type of record like a bank deposit book or bank deposit slip or something from the bank that has the detailed information of that, that would be a behavior reward.

Decision maker is another behavior reward that I've seen. Have you ever encountered when you're dealing with a company that has more than one decision maker and it takes you more time because you're dealing with multiple people and having to get an approval from multiple people. So you want to factor that in. If you offered them a behavior Reward where they agree to let you deal with just one person, and that person then takes the responsibility. It's not to say that the other people aren't involved in the decision. It's just that you're only dealing with one person. And then that one person takes the responsibility to go to all the other decision makers and get the decision to. And then that one person gets back to you. And you can even set a time limit that they have to get back to you within 48 hours or 72 hours in order to get this type of behavior reward. Another behavior reward that I've seen used is automation assist. I don't typically use this one, but I know some people that do. And this is when the client agrees to allow you to connect their bank feeds to other app integrations that you need. And in the event of bank feeds becoming disconnected, like when there's a security update or something, they agree to reconnect, like, within one business day. I actually have it in my client handbook if that happens, I have one client that I'm in their books daily. All my other clients, it's weekly or monthly.

So I actually have it in my client handbook that they need to check their bank feeds on a minimum of a weekly basis anyway, which is why I don't offer this one as a behavior reward. It's a requirement for them to be a client of mine. So you may have noticed in the model there weren't any examples of enhancements when we were going through it. But remember, that's our upsell session. It's when we can sprinkle some stuff on top of the price that we've quoted for them, some extra value. Right. So when we're pricing a cleanup job, I think a good area for this is preventing future messes from happening again or things. Think along the lines of things that will save them time. So again, if anybody wants to drop something into the chat of enhancement type questions that they use, I'm about to go through my list in a minute, but again, feel free to share any that you may use.

What I typically do with all of my models is for the enhancement screen. And this for all my models, not just cleanup. When somebody chooses the basic package, I will have picked two or three things from my middle package that I know are typically popular and they maybe want them. They just don't want to pay the full price for the middle package and then add that as enhancements for my basic package. And then for my middle package, I pick two or three things from my premium package and then for my premium package, I usually have a couple of things that are like really extravagant because my premium package does pretty well offer just about everything already.

So I'll offer things that are pretty extravagant at this point and they pay for them. It has a pretty hefty price if they're choosing them. So some examples that either I use or some other people use is selling a monthly maintenance package after you've finished the cleanup. If they're going to continue on their own, do they want you to come in monthly and just do a quick review and clean up anything that might be cleaned up before it gets to the point of being a mess or requiring cleanup again? Or if they don't want a monthly package, what about like a cleanup to transition type bundle which includes the cleanup work that you're doing, plus like up to three months of bookkeeping support as they transition from the work that you've just cleaned up for them to doing it on their own. So maybe they don't want ongoing monthly service, but maybe they'll, maybe they'll buy like a three month transition.

Or another package. Could be a quarterly financial health review with some strategic guidance. So you're going in and taking a look at their books quarterly. So there's different options here. There could be a mid year check so in every six month package where you do a written report. So maybe they're halfway to their year end. This is a really valuable ad for them to save them time when their year end comes again. It's similar to the quarterly, but you're adding a component about giving them a written report which is something tangible that you're delivering. And tangible things often have more value to them. Right. If there's, if you're giving them something, so that's something that you can charge more for.

Maybe they don't want any packages or help along the year. You could do just a year end prep package that has some fancy reports with graphs and images. Again, it's so simple for us to do that once we have the core data. There's software out there that lets us do amazing looking reports in just a few minutes of time or you know, maybe a little bit more. I exaggerate when I say a few minutes because you probably want to go in and examine the books a little bit more, but certainly not something that's going to take you a few days or a week. Like you could knock it off in one day, but you could charge a significant amount for it. You could offer some technology upgrade recommendations. So if you see that they're doing something.

During their cleanup, you find another system that would be more efficient to them. You could offer them the upgrade. Maybe you can offer it to them at your wholesale rate. If it's something that you're using already, you could offer them a setup and training package with it, maybe some customized SOPs for their bookkeeping tasks. Many of us have SOPs in our companies already. Why not just tweak them a little bit to what is specific for your company and sell it to them and then get paid for something that you pretty much had created already. So again, something that would take you, what, maybe an hour or two to tweak to things that are specific for them, but you can charge for them as if you've created it from scratch. So there's lots of things that you can get creative with and use for enhancements when you're doing a cleanup project. And Stephanie, thank you for yours as well about software training. Absolutely.

Okay. Some other examples that I see as well. In the questions section behind the tax authorities, I also have a follow up question. If they're behind with cra, I asked them if they're getting notifications yet. Are they getting any mail from cra? Are they getting phone calls? Because I know that CRA will initially start sending letters in the mail first and if those aren't responded to, then it escalates to phone calls. So asking them what type of communication they're getting from the government increases the urgency that I know that they are feeling. If they're getting phone calls, I know that the urgency is higher and I can then build that into my price. Do they have all of their bank and credit card stuff, statements or access to them for the period needing to be caught up who was doing the bookkeeping previously? Wouldn't that be something that's good to know? Was it them or a, a family member or was it an actual trained accounting professional that maybe the re. Maybe that person retired or the relationship severed for some reason and there was a gap before they got somebody new. So finding out who was doing the bookkeeping up until that point is something I definitely always want to know. What's their goal for the cleanup? And so this is where we're diving into a little bit for what kind of pain are they feeling? Is it to get caught up with cra? Is it to apply for financing for something that they want? Are they planning on selling the business? It's a great free form type of question that you can ask, which would then be automatically added to your proposal when you do it. I asked them about their accounts receivable amount owing, if it's applicable, if they do accounts receivable. And I have this as a drop down list type of question in dollar amounts rather than number of outstanding invoices. And the reason I do it in dollar amounts is because again, it's valuable if they have $10,000 worth, while it's kind of relative to the company as well. But if they have $10,000 worth of outstanding accounts receivable versus $100,000 worth of outstanding accounts receivable, there's more value to that. It could be that some of those payments have been received already, but they just weren't properly recorded. It might have been recorded as a sales receipt instead of payment against an outstanding invoice. So then we know, of course their revenue has been overstated because it's been captured twice. So that's something that's really valuable to know.

If they have staff, are they behind on issuing T4 slips or processing year end bonuses or providing allowances or reimbursing expenses? Those types of things that affect employee morale are huge. Like if they're at risk of losing some of their employees because their employees aren't happy and they could be good employees, it's going to be valuable for them to get you to help them clean that up.

If it's a cleanup and they plan on doing their own bookkeeping afterwards and they do want that routine review, it can be a drop down style question of whether they want quarterly, semi, annually or annually or monthly or whatever. So I do that as a drop down style of question.

I'll ask how thorough they want the cleanup to be. So with you guys, I can call it sort of my quick and dirty method which is based on. On bank statements pretty much only. And I have some disclosure stuff that I say to them about that, about how in the event, if they were ever audited, doing that type of method is not audit proof, but it might be all that they want. They may be willing to take the chance of getting audited or I'll explain that there is a more thorough method where I'm going to be asking for all of the source documents.

And. And that in that way it is as audit proof as possible for me to do this. So sorry guys, these are. I just saw Sharon say she's not seeing this on my screen. It's not in my screen. It's just me talking about some of the things that I'm doing. So it will be in the recording though. If you haven't been taking Notes it will be in the recording and you can go back and, and capture some of these.

So I'm a little question cautious when I use that question though. And I make sure that they understand the difference of the quick and dirty method and the thorough method. And if they choose the quick and dirty method, it is in my service agreements that that is the method that they have chosen. And I am by no way ensuring that their books are audit proof, whereas my regular proposal does have a section that says that I'm making their books as audit proof as possible. I'm not seeing any questions, so I'm going to keep going.

So now we're going to talk about how to price a QBO setup. So let me just go back to our software.

Okay, so I'm going back into model management. I'm just curious actually. So imagine that you have a client that doesn't require any cleanup services. They're all up to date. They just want your help moving from their current system which might be, you know, an Excel sheet or a manual system or something. And they want to move to a cloud based system like qbo. Drop a message into chat for me if you're already doing this and if you want to, I'll tell you what I charge. I have no shame in telling people what I charge. If you want to drop in a range maybe of what you charge for this. Just again, I find it helpful for people that maybe aren't doing this already. Lots of times they say, well, what are you charging? What are you charging? That's one of the questions that newer people always want to know so they can gauge whether they're over or undercharging or right in the mix of what's appropriate. So okay, going back to. And I'd also like to know if you charge for this separately or if you include it in your services already. I kind of have a model for both. But again, so there is a model.

I'm going to. Oops, I'm going to delete this one. So there is a model that Mark gives us. It's called cloud setup. Again, I'm just going to go, I'm going to leave the little cloud icon. I'm going to make it live.

And I'll go through it pretty quickly again. We know how to go through models, we know how to edit questions and prices and add questions. One of the things that's great about again, it's good to have a brochure for this type of service.

Doing some type of diagnostic review first of their current system and One of the things that's great about selling this service is that it's really high value, but it doesn't take you a lot of time. As I mentioned, I use QBO and they actually offer a service for free.

For their pro advisors here in Canada anyway where they will move a set of books for me. So it doesn't take me any time on my part, but I can charge the client for it. So it's like a hundred percent or you know, maybe a little bit of email communication back and forth, a little bit of double checking stuff after, after Intuit has done the conversion for me, but it's a really high profit service for me.

The bulk of the work has already been done. My client doesn't need to know that Intuit did it and I didn't. And they also don't need to know that it didn't take me a long time. They are paying for the value of the service, not for the amount of time that it's taken me to do it. It hasn't been sold based on hours. So if there's any people here using Xero for any other Xero users in the room, I'd be curious if Xero offers a similar type of service where they will do conversions for you. Okay, so back to the model again. The first question I don't actually use what system do you want to move to? I don't use that because again I only use qbo.

If you do use more than one firm, you would likely have this question as a drop down type answer and you might charge, let's say Xero is your primary software, but you do have QBO as an option. You might charge more for a QBO conversion because you're not as familiar with it as you are with Xero. So you can build that into the price that when you give them the drop down choice, if they choose qbo then it builds up a little bit higher price for you. The next question is your accounting system up to date? Obviously very important because if it's not, then you may want to sell the cleanup service first. Right number of bank accounts is important because you're going to need to set up bank feeds, set up rules. How many employees indicates how much payroll information is going to need to be transferred. Payroll information, by the way, does not always transfer from one system to another as easily as other things do. Even with Intuit doing the conversion for us. So if there's payroll that will impact your price.

And then.

Remember that the preference type questions are speaking to us about what the client values. What are they saying yes to? Pay attention during your pricing meeting. Recognize if they're hesitating about something, which maybe means it's not as valuable to them. Because if something's really valuable to them, they'll just say yes right away. Pay attention. I've talked about this before. Pay attention to their body language. Unspoken communication. I've talked about my own body language and how how I get people to pick my premium package. Knock on wood every time I say this.

So far, every client has always chosen my premium package. And I think that has to do with my body language and my communication when I'm explaining my packages. But if I keep going a little bit.

Now to.

I'm just going to skip through here quickly.

Now we're at our packages page. If you haven't gone through, pretend this is the client view. I'm a little conscious of time and how many things I want to show you today. So pretend this is the client review page. We're doing a quote and you have your price reveal button up here. Remember, if you don't have a brochure, you want to spend some time going through these packages with your client.

You may not have everything set up right away if you're using effective pricing and just getting started with it. I do encourage you to spend some time getting it set up, but it doesn't have to be a hundred percent. Go with that 8020 rule. I know we all tend to be perfectionists and we like everything to look great, but don't let it stop you from getting started. My effective pricing evolves every single time that I do a quote. So if I was waiting for it to always be perfect, I would still not be using it. I would just be changing it all the time. So get it set up for the bulk of what you need it to do and then you can tweak it as needed.

So I'm going to just look in the chat for a minute and see.

Non profits moving from QBO to a Tech Soup subscription. I have not heard of Tech Soup, but I don't deal with a lot of non profits. I only have one non profit. Sherry has two clients. She's doing this for charging hourly as she has no clue how much time will be involved. Okay.

Sherry, maybe after going through this model you can the next one you can maybe play around with using the model for it. Stacy charges separately and price depends on if using software such as MCC Convert or Jet Convert. So other conversion software tools. Stephanie's charging between 500 to 1,000 has found it can be incredibly time consuming to verify the starting balances, chart of accounts, etc charges separately. Sharon charges separately 500 to 700 depending on all that has to be done. Jan's doing setups and conversions on QB desktop or manual and charges anywhere from 500 to 5,000. Wow, that's great, Jan. That's awesome. I'm going to have you teach the next class.

Stacy is in zero and pays for Jet convert to move. Okay. So I'm seeing lots of people sharing their prices and Stephanie has said FreshBooks offers free conversion so there's lots of chat in there.

Not seeing. Oh, Lynn is charging anywhere from 1500 to 11,000. Okay, you're co teaching the next class. So I do charge for this. I typically build it into. I have a model so I have my regular bookkeeping model if somebody doesn't need this. And then I have a bookkeeping and cloud setup model where I have a section related to the cloud setup stuff and I do then combine it all into one price.

And I if they only want QBO setup and then they're continuing on their own. I charge on average about 1500 for this like everyone else. It. It depends a bit on the complexity and what's involved, but 1500 is about the average of what I'm charging for this. Okay, so some other question examples is how many users do they want to have in the cloud setup that they're doing for you that you're setting up for them? Do they sell products or services or both? So you have an idea of how many you're going to need to set up or how many do they have? Do they have inventory? Oh my gosh. We definitely need to know if they have inventory. Do they invoice their clients or set up any recurring payments? Are they going to need any type of invoice templates set up or customized? Would they like to take advantage of my wholesale billing rate or do they want to manage their own subscription? Do they want customer and vendor details entered with open bills and invoices? Do they want us to create templates for sales receipts and customer statements as we talked about invoices? But maybe they want custom templates for other things as well. Do they want a training or support, a training package to get them going or a support package as they're going for you to stay in touch with them? I like the preference question of what's their primary goal for switching to QBO at this time. I really want to know why they want to do it now because maybe they've been considering it for a while, but I like to tap into why it's become urgent for them now and then. In the model we have a fast track service question with seven days. I actually have mine set at 14 days which is usually enough time for Intuit to do it for me. But then in my upsells, in my enhancements, I do have an enhancement for a faster service. This way I can earn a little bit more from it. And in this case I do do it myself rather than waiting for intu it to do it for me.

Some behavior reward Examples the data entry fast track depending on where their data is coming from.

So you can easily import you might want them to have provide the template to them to put their customer and vendor list in the spreadsheet for you already. So then you can just import it and again same like the cleanup project. I do a one touch contact a primary person that I'm going to deal with if there's more than one decision maker. Some enhancements.

I'll just put a few on the screen here, but then I'll talk about a few as well. Training Sessions Having a customized chart of accounts as we all know.

Setting up if you're moving them from an Excel spreadsheet for example to QBO so you're not converting them from an actual software, it will often the software will usually start you with a generic chart of accounts. You can offer to customize it for them. Automate their bank feed Set up with the rules Sales tax set up do they need their sales tax set up? Do they want you to prepare their first sales tax return for them? If they're planning on doing their own stuff, you can upsell as an enhancement to do their first sales tax return for them. Templates do they have any reporting templates that they need that need to be customized aside from the standard ones that are there A Year Accountant prep bundle for me I really like this one because even if they don't want ongoing monthly services, I can usually upsell them on prepping their year end for them and depending on who is doing their bookkeeping, this might then also lead into a cleanup work. Also if I go in to do their year end prep like 11 months later, five months later, whatever, depending on whatever time I've done the conversion and they've made a mess of it in that amount of time, then I can also talk to them about needing to do some cleanup work so it could lead into.

Other work. And if anybody wants to drop into chat some behavior rewards or enhancements that you use with this model, I'm going to check for questions. So Jan says, do I have a customized template that you use with all of these questions that you are mentioning? These questions are in my model, Jan, or in other models that I've seen people use. And I've just made note of them again to verbally mention them to you. I don't have them in. In any type of template. They're in effective pricing in my models. And then you've also lost. Do I have multiple cleanup and setup models? Absolutely, I do. So I have my niche clients, and I actually have a couple of different niches. So I have models set up for each type of niche that I deal with. And. And they absolutely have different questions in them because I know what the needs are for for that niche. Okay, so we're going to look at managing payment plans a little bit. We did go through this in last session, so I'm just going to briefly review it again. Let me go back to the software.

Okay, so.

Look at some. The payment plan page.

Let me go into.

Again. I'm just going to quickly.

Prepare a quote here.

I think I should have said yes to some questions. This is a really cheap quote. But it's okay. We'll go. We'll go with it.

Okay, so now I'm on my payment plan page. We're in the cleanup work, and it's telling me we have three payments of $248 up here. That, of course, is not including tax. Tax is extra. And then we have our gross amount here. So there's some workarounds that people have found.

To make the payment plan page work a little bit better for them. So last session we looked at this payment plan page. Today I want to talk to you about some of those other workarounds. And again, I invite people to share in chat to help everybody of workarounds that you use as well. So sometimes you might need a payment frequency other than monthly. So looking at this, if I see my. Let's actually make this monthly.

Okay, so really small payments now monthly. But let's say somebody wants to do a payment frequency other than monthly, and it might be some type of odd frequency that you want to do. So if I look at my payment plan.

Page, I'll just print preview this for a minute. Takes a minute to generate here.

What you can do is create a page like this outside of the software. Just create a nice little. I'm going to make that a bit bigger.

Just create a nice little table.

That looks similar to this. Save that as an image and then you can upload that image into your proposal part of the software.

So then their payment plan shows. So that's one workaround if they have a payment plan that's not monthly. Because even if you do three payments, I'll just show you what that looks like. And I go back to preview that it's still going to be three consecutive monthly payments. Maybe they're making four payments, but they're going to pay quarterly. So you can see, had I said four payments, it would have been four monthly payments. So if you want this to be quarterly payments, you can set up your own little template outside of the software and upload it in the proposal for this client as an image. Another example is if you're taking on a client in the middle of the year. So this one happens a lot. It's very common for people that are doing income tax filing. So their income tax filing might be due in six months, but you're still going to be doing income tax filing for 12 months worth of their work. And if you were quoting them regularly for 12 months, letting them pay over 12 months, then your pricing model would be different. We know from price psychology that we want to chunk their price down to monthly payments. So rather than telling them that it's going to be $2,500 to file their income tax, we want to break that down into 12 monthly payments, even though we only do it once a year. But maybe you're taking on a client in the middle of the year.

So you still have 12 months worth of stuff that you're doing. So as you're going through the fixed price page and the payment plan page, you're going to need to have a conversation with your client about how the price in the software is based on an annual amount. So when they say.

Sorry, I think my microphone blocks sound pretty good, but my dogs are barking. So I apologize. So you're going to need to have a conversation while you're in the software explaining to your client that this price is based on. And again, I'm just going to switch it back to 12, because I, I used our cleanup model. So you would say this price is based on. On an annual amount. And so if you're starting halfway through the year, you would need to change this to six months.

It's still based on an annual price, but you can see now their quote has doubled. Right, because they still need to pay for 12 months worth of work, but they're paying for it over six months. So when you have that conversation with them, you could Change this to 12 and still say it's going to be 12 payments but then change the payment to the number of remaining months that are left and show them just like how I've shown you guys right now how it affects their payment. Keeping in mind when you're having this conversation with them that you need to, you need to make sure you're educating them first about how your payments are based on the full year, but they're coming to you halfway through the year and should they continue.

Having their income tax when you reprice them the following year, you're going to reprice them for 12 months. So their payment would actually go down because it will be a monthly payment at that time.

So another one is providing a quote for current work but having a little bit of catch up work to do also. I'm just going to kind of verbally go through this one. I did mention about how I have a combined model for this. If they have a lot of catch up work to do, I'm definitely using a separate ketchup model. But if they only have a little bit, maybe they've only been in between books bookkeepers for a month or two, then I will combine it into my regular pricing model. But I do charge extra for that. So what I would do is go through all of the questions like I normally would and then give them their regular monthly price. But then I tell them that that is their regular monthly price. Maybe their regular monthly price is. We have here $124. I'm just going to round it off to 120 to do some easy math. And I explained to them that I bill in advance. The bill is always on the first of the month for that month. So when I bill on July 1, that is for their July bookkeeping. And so technically they would owe in this case $240 for being two months behind + the current month that I'm starting their work for. So they would technically owe me $360 before I'm even getting started. It might be, I'm saying a small amount, but let's say that's a larger amount. Let's say it's 3, $600 and they can't afford that much all at once. So it might be that you want to divide that two months that they're behind the $240 that they're behind into the regular payments for their current work. So there's a couple of ways that you can do this. The first way would be to build it into your model as a final Question. Because remember, the price calculates in the order of the questions. So you want it to be a question at the end. But I don't particularly like that way because on the fixed price reveal page it's going to include those two months of catch up work in what would be their regular price. So it kind of inflates what their regular monthly price would be. I think an alternative, better method would be to keep your main list of questions the same and reveal your fixed price the way you normally would. But then when you get to the enhancements page, you have the additional option. Let me just go back to enhancements. You have this additional option here where you can do this on the spot with the customer and you could click on it and add in a name. Two months. Whoops. Two months.

Catch up. I can't type when people are watching me and then say add. And we said it was what, $120? So I'm going to say add $240.

And then that will add to their price.

And then when I get to my payment reveal page, it's, it's not showing up on the fixed price page. So it's not showing up. They're not seeing it as part of what their regular monthly bookkeeping price would be. Another way that you could do it is using the. There's options. There's so many ways that you can manipulate the software guys. The other way that you could do it is using the advanced payment option or final payment option as well. I would use the. If it's a small amount like this, like $240, I would say it's an advance payment, they have to pay.

Okay, not seeing any questions there. And we've got about 20 minutes left. So I want to keep going and show you how to actually integrate with the software.

Okay, so it's really easy to integrate with the software. I'm going to start with your cog wheel and then go into my profile and along the left hand menu you're going to see this integration section at the bottom. If I choose QuickBooks.

It'S going to choose this moment. There it goes. You'll get it walks you right through it. So you'll get this little message. When your client agrees to a quote, you can push the invoices out of your QuickBooks account. Please click the get started button to connect your account. Once you've connected to QuickBooks Online, you'll be redirected back to here. So just click get started.

Takes a little moment.

You'd search for your company or firm.

And then this part, guys, I'm just going to do quickly off screen because it does show a list of my actual live clients.

Because it's connecting to my actual QBOA account. But you can see I have a test file set up. It's telling me the apps are already connected to the test file. That's okay. I'm just going to click next.

Let it do its thing for a minute, takes a minute or two and then it's going to return you. You have to select your tax type for me in Ontario, I'm HST for my clients and then it returns me back to my settings menu in effective pricing. Now if I go look in QBO file which I'm also just going to temporarily do on another screen and then I will show you.

Okay, so here is my.

Qbo test file.

And if I go look at my connected apps, there's effective pricing. It's connected now.

So that's how you do the connection. And then I'm just going to go back into the software now and get one of the quotes that we did.

I'm just going to go pull a quote. So this is the demo.

So once I have a quote that a client has accepted.

We would go into the quote and now we want to, we can automatically push their monthly amount over to QBO and it will automatically produce all of those invoices. So what I'm going to do then is.

Just quickly create a proposal.

Oh no, I thought I had a template here.

All right, you'll see now that I have a new list. We've looked at proposals before. You see I have a new drop down list here called QuickBooks product and that's because I'm connected now. So I'm going to go in here. Massage therapists are one of my ideal niches so I use them a lot in my.

In my test file. But I'm just going to say this is for monthly bookkeeping. I'll select that service and then save and continue. I'll let it do its thing for a minute. There's a proposal template.

Let that generate for a minute.

And then we're going to say yep, everything looks good. Obviously it doesn't because we would do some editing here. But we're just going to say complete and complete the proposal.

And let it do its thing for a minute.

Remember from something to remember from our last session while that's doing its thing is proposals are customized for each individual client. So even if you have a template there to start with, you can do customization. It will pull all of those personalized keywords that you have from your system. So it will do all of that for you. So now if I return to quotes.

I know my hair keeps going funny because it's hot in here and I keep pushing my hair back and then I keep noticing sometimes that it's standing straight up. So, okay, so now I have, you'll see on the right hand side, I think I used this.

Middle one.

I go to proposals. Yes, I used the middle one. Now you'll see that I've created that proposal. And when I go to look at the proposal, this is the one I literally just did with you. I now have a new button over on the right hand side that says push to qbo.

And once it's done thinking, I'm going to say.

Who my customer is. So let's just use. Because it's connected to a specific file now, so it will go to the list of customers. And again, I'm going to say that this is monthly bookkeeping. You also have the option to create a customer here if you want. If it's a new customer. Okay, so it says success pushed to QBO successfully. So if I go back to my QBO account and go to that customer.

And I used the initials of my company name.

So you can now see I have. Well, there's a bunch of voided ones in here from other testings in here. I should go in and delete them. But you can now see that I have a bunch of invoices.

Pushed over for one year's worth of services that I've just sold that client. So all the invoices are here already. You can go in and do any type of little editing or whatever that you want to. But you can see there's my product or service, there's my monthly bookkeeping, there's my tax rate, so on and so forth. Does anybody have any questions about connecting your QBO account?

Okay, let's keep going. So we're going to look at Canva again. We did this a little bit last time. I just want to remind everybody I am not a Canva expert by any means.

Jan, I just saw your question. I will come back to it in just one second. And it is customer, because I am in my. I am connected to my QBO file for my customer and it is creating the invoices for my customer that I'm going to send to them for the money that they owe me. I'm not in their QBO file. Setting up my invoices as a vendor.

Yes, that, that's why I did it off screen because it was showing some of my clients real client data. So that's why I connected it off screen but then showed that it was a test file that I was connected to. Okay. So I forgot to open Canva.

Before we started. So let me just see which one I am logged into.

I want to go to my other. My personal one, I think is where I have it.

Yes. So I am not, like I said, I am not a Canva expert. I have a team member that does it for me. I like to go in and play around with it a little bit, but it is a rabbit hole for me. So you are going to get a handout with today's session as well. A couple of them, actually. There's this five page handout that just goes through some of everything that I was just talking about for.

Integrating your account. And then you're also going to get this handout from Emily, which is super, super, super helpful when you are creating stuff in. In Canva. She gives you all the measurements already. So I'm just going to have this open on another screen, guys. But you guys are going to get this. But if you're wondering where I'm getting the numbers from as I'm playing around in Canva, I'm getting them from this handout that you're going to get. So basically you would click on create new design.

And then you would go to. There's a spot.

Oh, custom size. It's right there on the menu. And so this is where I would then enter the numbers that are on that handout that Emily gave and then create new design from here.

I'm not going to spend a lot of time showing you how to do things in here, but from here you can add an element. So one of my other niches is the Animal Clinic. So I'm going to show you kind of an end result in a minute of how this looks like. You can add a text box.

Somewhere. You can add your logo, you can resize things, you can change the color, the text, the font, all kinds of things. Every. I don't need to give you a lesson in Canva. People know what you can do in here. Instead.

I want to go back to.

This one. So this is what I created when I was playing around, getting ready for this. So this would be a great cover page. I'm actually going to play around with it a little bit more and change one of my proposals because I love that little dog image. But this would be a great cover page. For my proposal, you know, obviously I would make some font a little bit bigger to fill in some of this white space space.

But I can then upload this into the proposal section of my software. So if I just go back in here into proposal templates.

I could then upload that into my software.

I'm going to use Mark's example.

Actually, no, because his example has a lot of stuff in it already. Let me just do from scratch, create a new.

And I'm going to say animal template.

Monthly bookkeeping.

Okay, so now I have a blank field where I can start.

So.

If I don't want this is. You can start with a template. Absolutely. And change things, or you can start from scratch. I find starting from scratch a little easier.

When I'm wanting to do something like this. Although Mark does give templates that have a lot of things in it already.

I also wanted to mention that when you're uploading images and you have. I'm going to go back to that.

Image. Did I close it? Oh, no. It was in canva.

When you go back to your image and you have these proposal for and prepared for when you're doing it in your software, this is where the tweaking comes into play of where you need to.

There's going to be some back and forth. I'm going to be honest, guys, because in order to get it lined up properly, that when. Because this is based on keywords that we're using in our proposal, we looked at keywords last time that will automatically pull who the proposal is for. It will automatically pull the date that you're preparing the proposal. Those keywords that we talked about last session, it will automatically pull all of that for you. But when you're setting up your template in Canva, which you can make it look really pretty, it does require some finessing because you're uploading it as an image into the software. So you need to. Sometimes in the software, when you upload it, you're going to need to sometimes put in a few.

Enter marks or space marks or tab. Use the tab button a few times. It might require a little bit of going back and forth. You may need to go back to your design here and move this a little bit and then upload it again. Like some things with effective pricing, it does take some time to set it up, but it is definitely, definitely worth it. There are a lot higher levels of Canva that can be used for your templates. So I wanted to mention.

If you want some help, a lot of us say do what you do. Best and then outsource the rest. Right? That's a phrase we're all familiar with. If you want some help preparing your template, Gabby and Tasha, or sorry, Emily, Gabby, sorry, didn't mean to throw you under the bus for effective pricing.

Or Canva. I mean, Emily and Tasha will do a custom proposal design for for you. You need to send them some images that you want to use a general guideline of the wording that you want to use. There is a fee for it, but honestly guys, I don't remember what it is because I had them do mine. One of mine.

Oh gosh, a long time ago anyway, five or six years ago.

So I don't remember what it cost. You can reach out to them. The link is on the screen here. It will be in the handout that you get as well.

So you can get them to do it for you rather than spending all of that little time finessing back and forth. You can build a little bit of what you want, like what I just had in Canva, if you pick some cute pictures and the general layout that you want. But you don't want to do all the finessing back and forth in the software. You can absolutely send them your template of what you have so far and ask them to do the rest of the tweaking for you and it's really worth it. And then also my email is there for you if anybody needs one on one coaching for effective pricing, not for Canva, then you can reach out to me as well for that. Thanks everybody.