Introduction
- This is our approach to all articles.
- The following gives an overview of the Statement of Account (SoA).
What is the SoA?
- The name “Statement of Account (SoA)“, says exactly what this is, i.e. the amount owed to Avar/you in respect of summaries of fees, as a result of the basis of engagement.
- It is prepared before starting the current year’s work.
- It requires the client to clear the account before any new work is undertaken.
Why is this Important?
- It is crucial that every client understands the current position and balance on their account with Avar.
- It also forms part of the engagement, whereby the fees are agreed before any work commences.
- No work will be undertaken outside of the agreement that is not charged.
- It also allows clients to ensure that they have a plan to manage any outstanding amounts owing to Avar.