How to Price Your Accounting Services for Maximum Value (Without Hourly Billing)

gabi • April 8, 2025

Pricing services correctly is a fundamental challenge many accountants face. Get it wrong, and you're either undervaluing your expertise or risking client dissatisfaction. Traditional hourly billing, often considered standard practice, frequently leads to confusion and frustration among clients, primarily due to unexpected or unclear costs.


Mark Wickersham, a chartered accountant and renowned pricing expert, advocates strongly for value pricing, which is an approach focused on the value clients perceive in your services rather than just costs.


What is Value Pricing?


Value pricing involves setting your prices based on the value you deliver to clients, rather than simply calculating costs and adding a margin. Hourly billing inherently ignores customer expectations and often leads to "surprise bills." Value pricing, instead, begins with understanding client needs and expectations.

Unlike traditional pricing methods that focus on costs and time spent, value pricing considers the outcome and the benefits your service provides. When clients see clear value in your offering, they are more willing to pay a price that reflects that value.



Why Hourly Billing Falls Short




Hourly billing has been the standard approach in many accounting firms, but it creates several issues:


  • Lack of transparency: Clients dislike receiving invoices with unexpected charges.
  • Encourages inefficiency: Firms are rewarded for spending more time rather than delivering results faster.
  • Limits profitability: The only way to earn more is to work more hours, creating a ceiling on potential income.


Value pricing eliminates these issues by ensuring fees align with the tangible benefits clients receive. Instead of measuring time, accountants can focus on delivering results and improving service quality.



The Three Stages of Value Pricing




1. Uncover the Value


Understanding what clients truly need is the first step in implementing value pricing. This involves in-depth conversations to identify their pain points, goals, and expectations. Some key questions to ask include:


  • What are your biggest challenges with your current accounting setup?
  • What financial insights would help you make better business decisions?
  • How important is real-time access to financial data?
  • What level of reporting and analysis do you need?


By asking these questions, you gain insight into what clients value most, allowing you to tailor your pricing accordingly.


2. Build the Value


Once you understand a client’s needs, the next step is to communicate how your services solve their problems. This step is crucial because clients need to see the direct connection between your expertise and the benefits they’ll receive.


Consider presenting value pricing in a structured way by offering different service levels. The "menu pricing" approach, where clients choose from Bronze, Silver, and Gold packages, allows them to select a solution that fits their needs and budget.


When building value:


  • Clearly define what each package includes.
  • Highlight the benefits of each option, not just the features.
  • Provide case studies or examples of past success.


3. Capture the Value


The final step is setting a price that reflects the true value of your services. Rather than basing your fee on costs, it should be determined by the results your clients achieve.


When presenting your price, always do so in person or via a live meeting. Sending a proposal without discussion risks clients focusing only on the numbers rather than understanding the value behind them. A face-to-face conversation allows you to:


  • Explain the reasoning behind your pricing.
  • Address any concerns immediately.
  • Adjust service options based on client feedback.


Using Psychology to Strengthen Value Pricing




Clients often struggle to assess pricing objectively, which is why psychology plays a key role in the decision-making process. The way you structure and present your prices significantly influences how clients perceive value.


1. The Power of Choice


Giving clients multiple pricing options, such as Bronze, Silver, and Gold tiers, helps them feel in control. When people see multiple choices, they are more likely to pick one rather than reject all options.


2. Anchoring Pricing Perceptions


Anchoring is a pricing strategy where you present a higher price first, making subsequent options appear more reasonable. For example, if you introduce a premium service at £2,000 before mentioning a mid-tier option at £1,200, the lower price feels more affordable in comparison.


3. Framing the Price Based on Benefits


Rather than just stating a monthly fee, connect the price to its impact. Instead of saying, “This service costs £500 per month,” frame it as, “For just £500 a month, you gain real-time financial insights, proactive tax planning, and personalised business growth strategies.” This approach reinforces the value behind the price.


Systematising Value Pricing with Effective Pricing


Successfully implementing value pricing requires a structured approach. Many firms struggle because they rely on manual methods, making it difficult to consistently apply the model.


This is where pricing software, such as Effective Pricing, becomes essential. The Value Pricing Academy’s Effective Pricing software helps accountants:

  • Automate pricing discussions with structured client interactions.
  • Provide real-time adjustments based on client preferences.
  • Create transparency by involving clients in the pricing process.


By integrating a pricing system, firms can ensure consistent, fair, and profitable pricing that aligns with their client’s needs.


The Business Impact of Value Pricing


Firms that transition to value pricing experience several key benefits:

  • Higher profitability: Clients are willing to pay more when they understand the value they receive.
  • Stronger client relationships: Transparent pricing fosters trust and reduces misunderstandings.
  • Scalability: Value pricing allows firms to increase revenue without simply working more hours.

Many accountants who have implemented value pricing have seen their fees increase by two to three times without losing clients. This is because clients appreciate knowing exactly what they’re paying for and the results they can expect.



Making the Switch to Value Pricing



Shifting from hourly billing to value pricing requires a mindset change, but the rewards are well worth the effort. To successfully transition:


  1. Start small – Implement value pricing for a few key services before applying it firm-wide.
  2. Communicate effectively – Clearly explain the benefits of value pricing to clients.
  3. Use the right tools – Leverage software like Effective Pricing to streamline the process.



Try Effective Pricing


Ready to take the guesswork out of pricing? Try Effective Pricing and confidently set prices that reflect the true value of your services.


By adopting value pricing, you ensure that your fees reflect the expertise and impact you bring to your clients. This approach not only enhances profitability but also strengthens client trust—creating a win-win for both accountants and their clients.

You Can’t 'Excel' at Value Pricing: Why Tools Matter More Than You Think

By gabi • June 20, 2025
“We thought we could just build it in Excel...” It’s a phrase we hear often from firms trying to implement value pricing on their own. On paper, it seems smart: build a custom spreadsheet, plug in your formulas, and start quoting. But it rarely works out that way. Spreadsheets are great for tracking data, but they’re not designed for live pricing conversations. In fact, they can make value pricing harder, more stressful, and less effective than it needs to be. Here’s why DIY spreadsheets are holding your pricing back—and how switching to purpose-built software changes everything. Why Spreadsheets Fall Short for Value Pricing Value pricing is dynamic. It relies on real-time scope evaluation, client interaction, and pricing psychology. Spreadsheets weren’t built for that. Common spreadsheet limitations: Not interactive : Clients can’t engage with the process Error-prone : One wrong formula can derail everything Visually flat : Hard to make compelling during a live meeting Not scalable : Becomes messy as you add services or options Teresa Slack learned this the hard way. Early on, she and her sister tried to build their own value pricing model in Excel. It was cumbersome, inflexible, and ultimately couldn’t support the complexity they needed. “We thought we could just build it in Excel... We quickly realised how challenging that was.” — Teresa Slack The Hidden Risks of DIY Pricing Models Trying to manage value pricing through spreadsheets doesn’t just waste time—it can actively damage your business. Inconsistent Pricing Without built-in logic, every quote is different depending on who created it, what version they used, or how confident they felt. Sales Friction Spreadsheet quotes look clunky. They don’t flow in a live meeting. Clients feel like they’re watching you do maths, not discuss value. Confused Clients When clients don’t clearly see what’s included or how the price was calculated, miscommunication is inevitable. No Room to Scale As your team grows, spreadsheets become harder to manage and update. Version control issues creep in, and onboarding new staff becomes a nightmare. What Modern Pricing Software Should Do A well-designed pricing tool does more than just calculate a number. It enables a better sales experience and value conversation . Here’s what to look for: Scope-based logic that adapts to each client’s needs Live, visual interface that supports interactive meetings Pre-built templates for bookkeeping, payroll, tax, and more Behavioural pricing features , like rewards for referrals or efficiencies Built-in tiering (e.g., Entry, Full, Premium) Instant proposals or follow-up integrations This isn’t about tech for tech’s sake. It’s about delivering pricing with clarity, consistency, and confidence. How Tools Like Effective Pricing Transform the Experience When Teresa adopted Effective Pricing , she saw an immediate change: Clients understood the scope of work Pricing meetings felt professional and guided Clients selected their own services Fees increased substantially “You cannot do value pricing easily without this amazing tool.” — Teresa Slack One of her clients even increased their monthly fee by 204% during the initial meeting—not because of a sales trick, but because the process made it easy to see the value on offer. Tools Create Consistency, Not Just Efficiency Having the right software doesn’t just make pricing faster. It makes it repeatable . It ensures every client gets the same level of clarity and professionalism, whether you’re quoting them yourself or handing it off to a team member. You can standardise your offerings, track conversion rates, and iterate confidently without fear of breaking a formula. Most importantly, you create a pricing experience that feels like part of your brand. Conclusion: Stop Treating Pricing Like a Side Task Pricing is not admin. It’s not just a number you send after a call. It’s a core part of your sales strategy and client relationship . If you're still using spreadsheets to manage your pricing, it's time to upgrade. Not just for your efficiency—but for your credibility, your growth, and your peace of mind. Try Effective Pricing Want to see what pricing looks like when it’s done right? 🎯 Book a free demo of Effective Pricing and discover how to: Quote with confidence Align pricing with value Convert more clients—without the guesswork → Stop struggling with spreadsheets. Start pricing with purpose.

Why Giving One Price Is Always the Wrong Price

By gabi • June 13, 2025
“When you give one price, it’s always the wrong price.” — Teresa Slack It’s a common scenario. A prospective client asks for a quote. You review their details, estimate the work involved, and deliver a single price. Their reaction? They hesitate. They ask for a discount. Or worse—they ghost you completely. The issue isn’t that your price was too high or too low. The real problem? You gave them only one option. Why One Price Doesn’t Work A single price turns your service into a yes-or-no decision. You’re putting pressure on the client to either accept or reject your offer—without the context of value or flexibility. Even if you believe your price is fair, your client may not be ready to commit without understanding what they're really paying for. Plus, you’re locking yourself into a number that may not reflect the complexity, needs, or expectations of the client. The outcome? You either: Undercharge (and resent it later), or Overcharge (and lose the deal) Neither serves you or the client. What Clients Really Want: Control and Clarity In today’s world, clients expect transparency. They want to know: What they're getting Why it costs what it does What options are available They want to feel in control of the buying process. When Teresa Slack shifted to letting clients "build their own package" through Effective Pricing, everything changed. Clients began engaging with the process, asking better questions, and ultimately choosing higher-value packages themselves. The Power of Presenting Options Instead of giving a single number, offer clients a structured choice: Entry Level Full Service Premium Experience Or even better, let them dynamically adjust their selection based on scope. When clients see the value behind each service line, they make better-informed decisions. You move from price being a sticking point to it being a reflection of value. Teresa shared how one client increased their monthly fee by 204% after going through this process. Why? Because he realised everything that was on offer—and valued it. How to Present Pricing the Right Way Here’s how you shift from pricing resistance to pricing confidence: Scope Before You Quote Start with a discovery session or diagnostic review. Uncover: Volume and complexity of work Pain points and priorities Desired outcomes Use Interactive Pricing Tools Forget spreadsheets and static quotes. Use tools like Effective Pricing to: Show real-time price changes based on scope Let clients see what’s included Build transparency into every quote Let Clients Shape Their Package Allow toggling options on or off. If the full package is too expensive, don’t discount—adjust the scope. “We don’t discount. We remove services.” — Teresa Slack From Negotiation to Collaboration This approach changes the nature of the sales conversation: Old way: "Can you do it for less?" New way: "What if we removed reporting or payroll support to reduce the price?" You’re no longer justifying your fee. You’re collaborating with the client to find the right fit. That builds trust. That wins work. Conclusion: Stop Pricing in Absolutes If you’re still offering one quote per client, you’re missing a huge opportunity to: Position your value clearly Increase your average fee Build better client relationships The right price is the one the client chooses—because it reflects what they truly care about. Try Effective Pricing Want to see how flexible, transparent pricing can transform your firm? 🎯 Book a free demo of Effective Pricing and discover how to: Price confidently Scope accurately Convert more clients → Try it now and give your clients a choice they’ll actually value

The Biggest Mistake Firms Make When Switching to Value Pricing (and How to Avoid It)

By gabi • June 6, 2025
Think you’ve moved away from hourly billing and embraced value pricing? You might not have. For many bookkeeping and accounting firms, pricing remains the Achilles' heel. Despite good intentions, most who "switch" to value pricing actually end up using fixed pricing—and they don't even realise it. On the surface, it feels like progress. But under the hood, it's often just the same problem dressed differently. In this article, we’ll explore the most common misstep firms make when transitioning their pricing models, why it matters, and how to make a true shift to value pricing that increases revenue, improves client relationships, and restores profitability.