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Understanding Your Monthly and Annual Billing Cycles

Monthly Billing

Your Reach Reporting subscription follows a straightforward monthly billing structure designed to provide flexibility while ensuring consistent service.

How Monthly Payments Work:

You are billed for the upcoming month for all companies currently connected to Reach. This advance payment ensures uninterrupted access to your financial reporting tools throughout the billing period.

Adding Companies Mid-Month:

When you connect a new company during the month, you won't be charged immediately. Instead, the system calculates a prorated amount based on the remaining days in that month, which becomes a pending charge on your account. This pending amount will be added to your next monthly bill along with the standard monthly fee.

Billing Example:

Let's say you're charged $290 for 10 companies on January 1st, which covers all 10 companies through February 1st. If you add company #11 on January 15th, you won't be charged immediately, but a pending charge of $14.50 (approximately 50% of the monthly rate for the remaining half month) will be added to your account.

On February 1st, you'll be charged:

  • $319 for 11 companies for February ($29 × 11)
  • Plus the $14.50 pending charge from adding the company mid-January
  • Total February bill: $333.50

The following month would return to the standard $319 if no companies are added or removed.

Important Notes for Monthly Plans:

  • New company connections are prorated based on the days remaining in the month
  • No credits are issued when companies are disconnected
  • Each unique connection during a month may result in charges

Annual Billing

Annual plans offer up to a 30% discount but come with different billing considerations that require careful planning.

Key Features of Annual Plans:

  • Significant cost savings with up to a 30% discount
  • Payment is required for each connected company for the full year
  • Automatic billing when exceeding your plan's company limit
  • Each connection is billed separately

Annual Plan Considerations:

  • Commitment Level: You're committing to each company for the full year, not just a company seat
  • No Credits: No credits are issued if a company is disconnected before the year ends
  • Multiple Charges: Adding a company, removing it, and adding another results in charges for both connections
  • Immediate Billing: New company connections are prorated and charged immediately when you exceed your plan limit

Optimization Recommendations:

To avoid multiple charges for frequently adding and removing companies, consider moving to a higher-tier package if you anticipate regular client account changes. This provides more flexibility within your annual commitment.

Alternative Solution:

If you need more flexibility with client turnover, a monthly subscription might be more suitable. While you lose the annual discount, it may be more cost-effective for businesses with frequently changing client portfolios.

Best Practices for Managing Your Billing

  1. Plan Your Company Connections: Consider your client retention and growth patterns when choosing between monthly and annual plans
  2. Monitor Your Usage: Keep track of connected companies to avoid unexpected charges
  3. Choose the Right Tier: Select a plan tier that accommodates your expected growth to minimize overage charges
  4. Contact Support: Reach out to our support team if you need help optimizing your plan for your specific needs

Getting Help

If you have questions about your billing or need assistance choosing the right plan structure, contact our support team through the chat feature or email us at support@reachreporting.com. We're here to help you find the most cost-effective solution for your business needs.

 

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Reach Reporting is dedicated to helping provide a knowledge base that is easy to understand and informative. If you still have questions that have not been answered, please let us know by emailing support@reachreporting.com, chatting with our support team, or calling us at (877) 467-7637. We are here to ensure that you have a positive experience with Reach Reporting, as we want to continue to be the reporting solution you trust. 

Need more access to Reach Reporting Resources?

Reach Reporting has a wealth of knowledge and a robust online community to support you as you create reports that provide powerful insight. Please look into the following resources.

Reach Reporting Blog: We add blogs to our site every month to give you great information in a fun and friendly manner.

Case Studies: We interview one company per month to help our clients highlight how they are using Reach Reporting and how it is improving their services and firm offerings. These case studies are invaluable to our community.

Knowledge Center: From simple to complicated, we provide step-by-step guidance to utilize every aspect of Reach Reporting in our robust knowledge center.

Video Tutorials: We know watching is sometimes easier than reading, which is why all of our tutorials are video-based in the video tutorial section of Reach Reporting and Youtube.

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Competitor Comparisons: We have looked at all the reporting solutions on the market. We provide you with an in-depth look at Reach Reporting compared to some of the strongest competitors out there on our competitor comparison page. 

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We look forward to helping you build insightful reports,

The Reach Reporting Team.