people raise hands in meeting

What You Should and Shouldn’t Charge Clients for During COVID-19


A virtual town hall meeting is coming from AccountingWEB to help practitioners address what, if anything, to charge clients for the direct and indirect impact COVID-19 has had on their financial lives.

Apr 16th 2020
Share this content

Accountants and bookkeepers are seeing an unprecedented demand to provide advice and support to help individual and business clients financially survive right now. But how do you price during a crisis?

Accounting professionals have found themselves in the middle of a storm of questions that range widely from the Payroll Protection Program and other financial lifelines, to the CARES Act and basic financial planning for businesses and individuals to get through this difficult time. Moreover, accountants are at odds with themselves and their colleauges about how to charge for answering pressing client questions as well as things like: document preparation, financial guidance and a myriad of other client-related demands.

The reality is, as first responders many firms are simply reacting to calls for help without any formal plan, and there is a growing need for commonly-accepted principles. For these reasons, AccountingWEB is hosting a virtual town hall meeting to try to find common agreement on the following questions:

  • Is there an ethical obligation to provide free advice to clients during the COVID-19 crisis?
  • Is advice provided considered a free-of-charge marketing expense or a charitable exercise?
  • How should firms handle new clients vs. existing clients?
  • If you do decide to charge, should you discount fees and how do you avoid setting an unwanted precedent?
  • Should there be a distinction between “basic” tasks, such as completing loan applications, and more complex business repurposing/retooling tasks?

Our goal will be to collect input from a wide range of voices, so that the profession can hopefully move toward a set of agreed upon principles. The virtual town hall (via Zoom) will take place on April 30th at 2pm EDT, featuring the following panelists:

  • Shayna Chapman, CPA, CITP, owner Shaynaco LLC
  • Jody Linick, AIPB Certified Bookkeeper, QuickBooks® Certified Pro Advisor, owner FitBooks Pro
  • Loren Fogelman, business coach, speaker, owner Business Success Solution
  • Andrew Wall, CPA, CMA, CEO CPA4IT Professional Corporation

Each of our special guests will present a brief introduction, including their thoughts and approaches to the core questions. This will be followed by a group discussion and audience questions. Your participation is highly encouraged.

We sincerely hope you register today for this free event that will hopefully move the profession forward and offer some piece of mind for your practice, and your clients at this difficult time.

Replies (0)

Please login or register to join the discussion.

There are currently no replies, be the first to post a reply.