A retainer is an agreement where one party (the client) retains the accessibility and use of your services on an ongoing basis, usually for a discounted rate. For example. Let’s say you make your pitch to a potential new client who loves you and your company. They want to hire you but find that your hourly rate is above their budget. You discuss this over with them and agree on a retainer arrangement. Although your regular rate is $100 an hour, you agree to only charge them $80 an hour. In exchange for $800 a month guarantee up front payment from your new client, they now have a bank of 10 hours of work per month available to them at a reduced rate. They are happy because they get a lower rate. You are happy because you have guaranteed income coming towards you every month. It’s a win-win scenario. Alternate Use You may come across situations where you may have incorrectly charged a client for a service or item. In addition, there might be times where you need to reconcile for services provided that didn’t go too well, and want the client to receive some sort of a credit on their next invoice. In instances like these, you may use the client Retainer feature to assign your clients a “post-tax-credit” that will be subtracted from future invoices, until retainer balance is depleted

This article will describe what retainers are and how to use them in your business

A retainer is an agreement where one party (the client) retains the accessibility and use of your services on an ongoing basis, usually for a discounted rate.

****For example****. Let’s say you make your pitch to a potential new client who loves you and your company. They want to hire you but find that your hourly rate is above their budget. You discuss this over with them and agree on a retainer arrangement. Although your regular rate is $100 an hour, you agree to only charge them $80 an hour. In exchange for $800 a month guarantee up front payment from your new client, they now have a bank of 10 hours of work per month available to them at a reduced rate. They are happy because they get a lower rate. You are happy because you have guaranteed income coming towards you every month. It’s a win-win scenario.

****Alternate Use****  
You may come across situations where you may have incorrectly charged a client for a service or item. In addition, there might be times where you need to reconcile for services provided that didn’t go too well, and want the client to receive some sort of a credit on their next invoice. In instances like these, you may use the client Retainer feature to assign your clients a “post-tax-credit” that will be subtracted from future invoices, until retainer balance is depleted

A retainer is an agreement where one party (the client) retains the accessibility and use of your services on an ongoing basis, usually for a discounted rate. For example. Let’s say you make your pitch to a potential new client who loves you and your company. They want to hire you but find that your hourly rate is above their budget. You discuss this over with them and agree on a retainer arrangement. Although your regular rate is $100 an hour, you agree to only charge them $80 an hour. In exchange for $800 a month guarantee up front payment from your new client, they now have a bank of 10 hours of work per month available to them at a reduced rate. They are happy because they get a lower rate. You are happy because you have guaranteed income coming towards you every month. It’s a win-win scenario. Alternate Use You may come across situations where you may have incorrectly charged a client for a service or item. In addition, there might be times where you need to reconcile for services provided that didn’t go too well, and want the client to receive some sort of a credit on their next invoice. In instances like these, you may use the client Retainer feature to assign your clients a “post-tax-credit” that will be subtracted from future invoices, until retainer balance is depleted

What are Retainers

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