When was the last time you reviewed your client fees? For many accountants, it’s a question that brings on a sinking feeling. Workloads have grown, and clients’ businesses have changed, but fees? They often stay the same. It’s an easy oversight but one that can lead to frustration, strained client relationships, and, worst of all, reduced profitability.
If you’ve been putting off fee reviews, you’re not alone. Many accountants feel they don’t have the time, or they worry about how clients will react. But a simple framework makes fee reviews stress-free, fair, and efficient: the 1-3-12 Rule™.
What is the 1-3-12 Rule™?
The 1-3-12 Rule™ is a system designed to ensure your fees stay aligned with the work you’re delivering. It’s based on predictable review intervals for different types of services:
- 1 month: Review payroll services (e.g., changes in headcount or payslips).
- 3 months: Check bookkeeping services (e.g., transaction volumes or complexity).
- 12 months: Conduct a full review of all services provided to each client.
This framework eliminates guesswork, ensures transparency, and keeps your practice profitable.
Why regular fee reviews matter
Failing to adjust your fees regularly means you often work more while earning less. Over time, this undercharging can seriously impact your bottom line. Regular reviews do more than safeguard your income; they also:
- Reinforce the value of your work to clients.
- Build trust through transparent, proactive communication.
- Create a scalable pricing structure that grows with your clients.
Clients want a fair deal, and so do you. Using the 1-3-12 Rule™, you can ensure both parties feel satisfied with the arrangement.
How to make the 1-3-12 Rule™ work for you
Worried about finding time, facing client objections, or forgetting fee reviews? The 1-3-12 Rule™ is designed to keep things simple and effective, helping you manage adjustments with minimal effort while maintaining transparency and consistency. Here’s how to tackle common concerns.
Concern: “I don’t have time for this.”
With the right tools, a fee review takes less than a minute. It’s not about reinventing the wheel – it’s about making small, regular adjustments.
Concern: “What if my clients push back?”
Transparency is your ally. Clients who understand that fee adjustments are based on logical factors, like increased transactions or growing headcount, are less likely to object. These conversations also offer a chance to showcase your additional value.
Concern: “I’ll forget to do it.”
Scheduling fee reviews into your calendar or automating them with software can eliminate this worry.
GoProposal: The technology behind the 1-3-12 Rule™
We get it – fee reviews can feel like just one more thing to add to an already-packed schedule. That’s where GoProposal comes in. Purpose-built for accounting practices, it’s designed to make implementing the 1-3-12 Rule™ effortless.
Key features include:
- Instant proposals and engagement letters: Update fees and send documents in seconds.
- Dynamic fee adjustments: Easily adapt to changes in transaction volumes, staff numbers, or client complexity.
- Automated invoicing: Ensure your changes are reflected in client payments without chasing or admin headaches.
- Seamless integration: GoProposal works with your existing software, so you don’t need to overhaul your systems.
By streamlining the entire process, GoProposal makes fee reviews a quick, hassle-free task rather than a time-consuming chore.
Ready to take back control?
If you’re tired of doing more work than you’re being paid for, the 1-3-12 Rule™ can transform your practice. With GoProposal, you can implement this framework in under 60 seconds – no stress, no complicated systems.
The 1-3-12 Rule™ isn’t just about getting paid fairly – it’s about running a smoother, more profitable practice. By combining this framework with tools like GoProposal, you can take the stress out of fee reviews and focus on what really matters: growing your business and delivering exceptional value to your clients. Take the first step today.
Download the 1-3-12 Rule™ guide today!
See how it can make every ounce of your work count.