For accountants and bookkeepers · Xero

The January price-rise pack for practices using Xero

Five checks before a client's price rise goes out, a letter to adapt, and a quick way to see what the rise is worth. Free to use and share.

Five checks before the rise goes out

1. Find who hasn't gone up. For each client, compare the current amount on each repeating invoice with the same month last year. Note any client on a fixed-price contract or with a stated review date.
2. Settle the rise and the rounding. A percentage or a fixed amount; whole pounds or pence; and whether prices are entered including or excluding VAT, because the same percentage gives a different figure on each.
3. Give notice. Check each client's terms for the notice their customers are owed. For Direct Debit, the Direct Debit Guarantee promises notice of a change in amount, normally 10 working days ahead unless agreed otherwise. Standing orders are set by the payer, so those customers have to change the amount themselves.
4. Time the change. Change each template after the last invoice at the old price has been raised and before the first one due at the new price. If an invoice is due in the next day or two, let it go first. Changing an item's price in Xero does not update repeating invoices: each template needs changing.
5. Check the first run. When the first invoices at the new price go out, check the total against what you expected.

This is a working checklist, not legal or tax advice. Notice periods depend on each contract.

A letter to adapt

Subject: Your prices from [date]

Dear [name],

From [date], our [service] fee will change from £[old] to £[new] a month [plus VAT]. It is our first change since [month and year]. Your invoice dated [date] will be the first at the new price.

If you pay by Direct Debit, the new amount will be collected automatically. If you pay by standing order, please change it to £[new] before [date].

Any questions, just reply to this email.

Kind regards,
[name]

See what the rise is worth, then do it in one run

Ratelift's free forecast reads a Xero organisation's repeating invoices and shows what they will bill over the next 12 months, with a price rise tried in one tap. It reads the templates and writes nothing. When the figure is agreed, Ratelift changes every template in one run: every new price is shown first, and nothing changes in Xero until you press Apply. The first job of up to five templates is free.

Look at a sample forecast first

See how Ratelift works·For accountants and bookkeepers·Annual price increase on Xero repeating invoices·Forecast Xero repeating invoices·Pricing