Weekly Direct Debit

1. Banking of Unused Hours

• If we do not work the full 10 hours in a week, any unused time will roll over and can be used within 3 months from the date they were accrued.
• Banked hours are only available to current and actively, paying clients. If a client cancels or pauses their subscription, any banked hours will expire at the end of the 4-week cancellation period and cannot be reinstated upon rejoining.
• Banked hours cannot be transferred, refunded, or exchanged for cash.

2. No Lock-In Contract

• Clients are not locked into a contract, but to secure the discounted weekly rate, a 4-week cancellation notice is required.

3. No Refunds on Unused Hours

• Unused hours cannot be refunded, as resources are allocated in advance to ensure availability and service continuity.

4. Managing Additional Hours & Arrears

• If the client exceeds their weekly package hours by more than 20%, they must choose one of the following options:
  • Use banked hours (if available).
  • Reduce hours in the following week to compensate.
  • Purchase a prepaid package (as per Option 2).
  • Pay for additional hours at the end of the week at our ad hoc rate (as per Option 3)

5. Billing & Payment

• Weekly payments are
• Additional hours (if applicable) will be billed separately unless covered by a prepaid package or banked hours.

6. Scope of Work Included

The weekly direct debit package covers the following bookkeeping and administrative tasks:

• Bank reconciliation (ensuring all transactions match bank statements).
• Accounts payable and receivable processing (if included in agreed scope).
• Financial data entry and categorisation within the client’s accounting system.
• Regular reporting, including reconciliation reports and outstanding transactions.
• Ongoing communication with the client to clarify any transactions as needed.

Any additional work outside this scope may be billed separately or require a custom package.

7. Late Payment Policy & Service Suspension

If a payment becomes overdue by 14 days, V10 reserves the right to cease working until the account is brought up to date.

If the client has banked hours, these will be used before any service suspension occurs.

V10 will make reasonable attempts to contact the client before suspending services, but the responsibility for timely payments remains with the client.