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Trail

100 State St S, Kirkland, Washington, United States, 98033-6667

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Reviews CPA Trail

Trail Reviews (%countItem)

I had this CPA work on a draft outline for my company's capital raising stage. They billed me for it along with a phone call I made with them for 5 minutes, and reviewing some financial documents for an hour. However, after I paid their invoice for $450, I requested that they send me the draft outline that they supposedly worked on, because I wanted them to show me proof that they worked on it.
It's been about a week now, and I haven't heard back from them since.

Trail Response • Mar 23, 2020

We were hired through a signed engagement letter for hourly consulting with this client, all hours were documented with notes. We provided a discounted fee agreement for services due to our relationship with the client's legal counsel. This same legal counsel warned us about the clients ethics and recommended that we disengage during the engagement. We gave the client the benefit of the doubt and continued to provide hourly consulting for the following: initial conference call, investment analysis of 14 documents including detailed financial models, multiple tax returns, and internal reports from the seller. There was a write up provided via email after our review which included our own analysis and recommendation for a counteroffer with supporting calculations. There was then an 11 page PSA that was forwarded by the client for our review. Feedback was provided regarding the PSA and our recommendation for a counter was reiterated. We finally created a "draft outline" of slides for a pitch deck that was requested. This was a list of slides that we were going to propose. Given the warning by the clients own legal counsel, we decided before starting the pitch deck, to invoice for the 3 hours of work for the previously mentioned requests. The client received the invoice and asked if these were the only fees and he would need to discuss with his legal counsel and to stop the billing. The invoice was outstanding for over 75 days, after multiple requests for an update on payment, I let the client know I would be sending the invoice to collections. The invoice was paid about a month after.

In retrospect, we should have taken the advise of the legal counsel of the client and disengaged. This complaint lacks any validity.

Customer Response • Mar 23, 2020

Complaint: ***

I am rejecting this response because:

Draft outline was never written, but I was still billed for it. CPA only complained of their invoice not being paid earlier than they wanted. There was a confusion and miscommunication regarding their work, as they were supposed to work on a success fee basis. However, I paid their invoice anyways. If a client is going to pay for a bill, such as a draft outline/pitch deck, then they should see something as a proof of work. Since this CPA has no proof of work for the draft outline, the invoice doesn't reflect ALL of their work. Billing should only be for reviewing some of the financials, NOT for a draft outline that I was invoiced for

Sincerely

Trail Response • Mar 25, 2020

Your legal counsel who referred us.

Customer Response • Mar 25, 2020

Complaint: ***

I am rejecting this response because:

accountant isn’t focused on the complaint here, but reverting towards another subject.

This CPA already admitted to billing his client incorrectly and changed how he invoiced me in an attempt to close this complaint out.

Sincerely

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Address: 100 State St S, Kirkland, Washington, United States, 98033-6667

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