A virtual assistant is like a personal secretary. They provide customer support, write, answer calls, transcribe, do research, etc. They basically work at home and communicate with their Employer through the Internet or through phone. One method many companies take to maximize the likelihood of having a positive experience in retaining a virtual assistant is by going through a virtual staffing agency. These virtual staffing agencies operate similarly to conventional staffing agencies. When setting up the structure of a virtual assistant business, the owner must decide how he or she will collect the money earned for the services performed.
Traditional Invoicing/Net 30 Days If the virtual assistant does a lot of work for larger corporate clients, she may find that her clients will only do business with her if she extends Net 30 Day terms. With this arrangement, the virtual assistant will issue an invoice at the specified time periods or at the end of a project, whatever is agreed to prior to starting the project.
Traditional Invoicing/Due Upon Receipt Issuing the purchase order or having an agreement where the terms are Due Upon Receipt will help the virtual assistant to get paid much quicker. Just like Net 30 Day terms, the virtual assistant will send an invoice at specified times or at the end of the project and wait for the company to send a check.
Credit Card Payment The virtual assistant can set-up a merchant account and collect payment from the client using a credit card. An invoice will usually still need to be given to the client, but payment can be processed immediately at specified times. The virtual assistant can keep the clients credit card number on file and charge it as soon as a project is completed and the invoice is approved. Credit card payments can also be processed through PayPal without setting-up a merchant account.
Retainer Many virtual assistants collect a retainer from their clients. Often a discount is given when the client agrees to a certain number of hours of work per month charged if it is used or not. Since the client has already paid, they will most likely use the time, however, this is a nice way for the VA to estimate how much he or she will work in a month because the client as already committed to a certain number of hours.
A Montana Retainer Agreement for Virtual Assistant Services is a contractual arrangement between a virtual assistant and a client residing in the state of Montana. In this agreement, the terms and conditions for the provision of virtual assistant services are outlined to ensure a clear understanding between both parties. Various types of retainer agreements can be found in Montana, including fixed-term agreements, open-ended agreements, and project-specific agreements. In a fixed-term retainer agreement, the client and virtual assistant agree upon a specific duration for which the services will be provided. This may be suitable for clients seeking assistance for a particular period, such as during a busy season or for a specific project. The agreement clearly defines the start and end date of the retainer, along with the services to be performed and the compensation structure. Open-ended retainer agreements are more flexible and do not have a predefined end date. Instead, the agreement remains in effect until either party terminates it with prior notice. This type of agreement is suitable for clients who require ongoing virtual assistant services with no fixed time frame. It offers the advantage of continuity and can be adjusted as needed, such as increasing or decreasing hours or changing tasks. Project-specific retainer agreements are tailored to clients needing virtual assistant services for a specific project or set of tasks. The agreement specifies the project details, deliverables, timeline, and compensation structure. Once the project is completed, the agreement can be renegotiated for additional projects or converted into an open-ended or fixed-term agreement if needed. Keywords: Montana, retainer agreement, virtual assistant services, contractual arrangement, terms and conditions, fixed-term agreement, open-ended agreement, project-specific agreement, duration, services, compensation structure, start date, end date, flexible, ongoing, termination, prior notice, continuity, project details, deliverables, timeline.
