Accounts Receivable Terms and Conditions
Last Updated: February 1, 2025
The following terms and conditions apply to all services provided by Talbot & Associates. Our aim is to ensure a clear and professional understanding of our accounts receivable policies.
1. Payment Terms
- All invoices are payable upon receipt unless otherwise agreed in writing.
- Invoices are dated the day they are created to facilitate timely processing.
- Interest at a rate of 1% per month compounded monthly (12.6825% per annum) will be applied to balances outstanding 30 days past the invoice date.
2. Payment Methods
- Payments can be made in person at your nearest Talbot & Associates office using debit, credit, cheque, or cash.
- Click here for our Online payment options.
- Clients are responsible for any fees related to their payment method (e.g., credit card processing fees or insufficient funds fees), unless otherwise waived by Talbot & Associates.
3. Dispute Resolution
- Any disputes regarding an invoice must be submitted in writing within 30 days of the invoice date. Disputes raised after this period may not be considered.
4. Credit Reviews
- Clients may be subject to a credit review before establishing or continuing payment terms.
- Talbot & Associates reserves the right to adjust credit limits or payment terms based on payment history or financial assessment.
5. Late Payments and Suspension of Services
- Failure to pay within agreed terms will result in billing for work completed to date and suspension of services until the account is current. Additionally, failure to communicate with us for six consecutive months (e.g., no responses to calls or emails) will result in the same action.
- Clients are responsible for ensuring their contact information with Talbot & Associates is accurate and up to date, including a valid email address, as this will be our default method for sending Statements of Account (SOAs). For clients without reliable internet access or email capabilities, we are happy to accommodate by mailing SOAs. If this accommodation is required, please provide a valid mailing address to our receivables department by calling 204-269-7460.
- Statements of Account (SOAs) are issued via email monthly for balances outstanding beyond 30 days, including accounts with active payment plans.
- Accounts unpaid after 60 days may be escalated for direct follow-up by the Accounts Receivable team or delegate. Accounts with prolonged overdue balances may be referred to a third-party collections’ agency, with associated collection fees being the client’s responsibility.
6. Advance Payments and Deposits
- For multi-year tax filing services, Talbot & Associates may require 100% of the expected fees for one year to be paid upfront.
- For services exceeding $1,000, we may request a deposit of at least 25% of the estimated fees prior to commencing work.
- Clients may opt for Monthly Recurring Payments to help manage their cash flow.
7. Collection Costs
- Clients are responsible for any costs incurred by Talbot & Associates in the collection of overdue accounts, including legal fees and fees from third-party collection agencies.
8. Updates to Terms
- Talbot & Associates may update these terms and conditions with 10 days’ written notice. Continued use of our services after the notice period constitutes acceptance of the updated terms.
9. Contact Information
- For inquiries regarding invoices, payment terms, or account status, please contact our Accounts Receivable team at receivables@talbotcpa.ca or call 204-269-7460 during regular office hours, as posted here on our website.
Thank you for your cooperation and understanding of these terms. Talbot & Associates values your partnership and is committed to providing professional and reliable services.