Everhour tracks billable advisory work and expenses, while accurate invoices keep fees aligned with client agreements.
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Use this page to prepare an invoice for financial planning, advisory, or related client work. The invoice should identify the client, adviser or firm, invoice date, invoice number, billing period, payment terms, and the exact service being billed. A vague line such as "advisory services" gives the client little to approve. A better line names the planning engagement, review period, or portfolio advisory period.
Financial advisors commonly bill through asset-based, hourly, flat, retainer, or performance-based fees. The invoice should use the same basis the client agreed to. If the client pays a quarterly planning retainer, show the retainer period. If the client pays hourly for a one-time analysis, show the hours and rate. If payment is deducted from assets instead of paid by the client, the invoice should make that payment method clear.
Registered investment advisers must describe compensation, fee schedules, negotiability, and billing methods in Form ADV Part 2A when those items apply. The invoice is not the disclosure brochure, but it should not contradict the brochure or the client agreement. A client who agreed to a flat financial plan fee should not receive an invoice that reads like an open-ended hourly engagement.
Advance fees need special care. If clients may or must prepay, advisers must explain how refunds work if the advisory contract ends before the billing period closes and how the refund is calculated. SEC-registered advisers that require or solicit more than $1,200 per client at least six months in advance face an audited balance sheet brochure rule unless an exception applies. State-registered advisers have a $500 threshold tied to similar long advance fee disclosures.
The United States does not use a national VAT or GST invoice regime, so a financial-advisor invoice does not need a United States VAT or GST number. Sales and use tax rules come from state and local jurisdictions. Service taxability varies by state and service type, so the invoice should reflect the state rule that applies to the service, buyer, and place of sale.
Private-sector United States invoices do not follow one prescribed federal invoice form. For federal tax records, businesses may use any recordkeeping system suited to the business if it clearly shows income and expenses, and invoices support those records. Payment terms should follow the client agreement or firm policy, such as due on receipt, Net 15, or Net 30. Private businesses are not required by federal law to accept cash unless state law says otherwise.
A free invoice is enough for a single planning fee, a one-time consulting project, or a client who only needs a clean payment request. It works when the fee is already known, the billing period is simple, and no one needs to reconcile multiple staff members, projects, non-billable reviews, or recurring client work.
A managed workflow matters when tracked billable time feeds the invoice. Everhour supports billable and non-billable time through project billing status, task-level non-billable controls, custom task rates, member-rate exceptions, and admin reports for billable time, non-billable time, billable amount, and cost. That structure helps a firm separate client-facing advisory work from internal review, compliance, and admin time before billing.
This content is for general information only, may not be fully up to date, and is provided without any warranty or liability.
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A financial-advisor invoice should include the firm or adviser name, client name, invoice date, invoice number, billing period, service description, fee basis, amount due, payment terms, and payment instructions. The service line should match the engagement, such as quarterly advisory fee, fixed financial plan, hourly planning review, or retainer. Add sales-tax detail only when the applicable state and local rules require it.
The invoice should follow the client agreement and required disclosures. SEC Form ADV treats hourly, flat, asset-based, and performance-based charges as adviser fee types that must be disclosed when they apply. A financial planning project often fits a flat or hourly line, while ongoing advisory work often uses a periodic asset-based or retainer line.
Yes, if the engagement and required disclosures allow advance billing. The adviser must explain how the client can obtain a refund if the advisory contract ends before the billing period closes and how that refund is calculated. Long advance prepayments can trigger balance sheet disclosure rules, including the SEC threshold above $1,200 per client at least six months in advance unless an exception applies.
No. The United States does not have a national VAT or GST invoice regime, so there is no United States VAT or GST registration number to place on the invoice. Sales and use tax obligations come from state and local jurisdictions. Service taxability depends on the state, the service type, nexus, and the place where the sale is sourced.
Fee labels create risk when they do not match compensation. A CFP professional may use fee-only only when the professional, firm, and related parties receive no sales-related compensation connected with client professional services. CFP Board uses fee and commission for compensation that is not fee-only, and fee-based wording must not imply fee-only status.
Everhour lets admins set project billing status, mark specific tasks as non-billable, use custom task rates, and set member-rate exceptions. Admin reports can show billable time, non-billable time, billable amount, and cost, so client invoices exclude internal work that should stay out of the bill.
Track client work, exclude non-billable tasks, and review billable amounts before invoicing. Everhour gives financial-advisor teams cleaner billing records from tracked time.
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