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 North Carolina Retainer Agreement for Virtual Assistant Services is a legally binding document that outlines the terms and conditions between a virtual assistant (VA) and their client in the state of North Carolina. This agreement sets forth the expectations, responsibilities, and rights of both parties involved in the virtual assistant-client relationship. The purpose of a retainer agreement is to establish a clear understanding of the services provided by the virtual assistant, the agreed-upon compensation structure, payment terms, confidentiality, termination conditions, and any other important considerations. By signing this agreement, both the VA and the client ensure a smooth working relationship and prevent any potential miscommunication or disputes in the future. In North Carolina, there may be different types of retainer agreements for virtual assistant services, including: 1. General Retainer Agreement: This is the most common type of retainer agreement used by virtual assistants in North Carolina. It covers a wide range of VA services such as administrative support, data entry, social media management, appointment scheduling, email management, travel arrangements, research, and more. 2. Specialized Retainer Agreement: In some cases, virtual assistants may specialize in specific areas, such as graphic design, website development, content writing, or bookkeeping. A specialized retainer agreement would be more focused on these specific services, including any relevant terms and conditions related to the industry niche. 3. Project-based Retainer Agreement: Certain clients may engage virtual assistants for specific projects rather than ongoing or long-term support. In such cases, a project-based retainer agreement would outline the scope of the project, deliverables, timelines, and payment terms unique to the project. 4. Exclusive Retainer Agreement: This type of agreement is typically used when a client requires the virtual assistant's exclusive availability for a specified period. The retainer fee is usually higher in exclusive agreements as the client guarantees a certain number of hours or availability of the virtual assistant's services exclusively for their needs. It is crucial for both parties involved to carefully review and fully understand the North Carolina Retainer Agreement for Virtual Assistant Services before signing to ensure compliance with state laws and to protect their respective rights and interests. It is advisable to consult with a legal professional who specializes in virtual assistant agreements to draft or modify the agreement to meet specific needs or circumstances.
