How can I structure my fees?
The Reedsy system allows you to customize your payment schedule, depending on how you want to structure your payments.
If you’d like to charge a flat fee for the project, just set the final pay date for the full amount while putting your quote together. Add an upfront payment by selecting the percentage you’d like to be paid upfront. Then if you need to split the payment up into installments, choose the number ofinstallments you’d like. The remaining amount to be paid will automatically be divided into equal parts and their due dates staggered so that the last payment is due on the project deadline.
You can also quote an hourly rate, if you prefer. We recommend stating your rate in the quote and giving a rough estimate of how many hours you think it will take to complete the project. Then you can work out what the advanced payment should be so that you are able to start the collaboration. We suggest a value between 20–50% of the total fee.
If you’d like to charge a flat fee for the project, just set the final pay date for the full amount while putting your quote together. Add an upfront payment by selecting the percentage you’d like to be paid upfront. Then if you need to split the payment up into installments, choose the number ofinstallments you’d like. The remaining amount to be paid will automatically be divided into equal parts and their due dates staggered so that the last payment is due on the project deadline.
You can also quote an hourly rate, if you prefer. We recommend stating your rate in the quote and giving a rough estimate of how many hours you think it will take to complete the project. Then you can work out what the advanced payment should be so that you are able to start the collaboration. We suggest a value between 20–50% of the total fee.
Updated on: 03/18/2022
Thank you!