BookKeeping Training and Courses The reality is you do not need any qualifications to be a bookkeeper. In fact, sole trader accounts don’t even need to be signed off by a qualified accountant for tax purposes. Begin with a concise introduction, including the names and addresses of both parties. Clearly identify the bookkeeper and the client, establishing the parties involved in the agreement.
Set expectation for how you want to receive payments
In essence, a well-crafted bookkeeping contract is the foundation for a successful and long-lasting working relationship. In this guide, we’ll equip you with everything you need to create a solid contract for bookkeeping services. We’ll cover key elements to consider, best practices, and a free downloadable template to get you started. An independent accountant for independent contractor contractor might seem like just another employee, but they are a completely different entity from the company for which they perform the work. Since both the company’s books and the bank statement have an adjusted balance of $6,975 the bank statement has been reconciled. Note that this balance is different from the company’s books balance of $7,000.
Related Proposals and Templates
It’s important to consult a legal professional to ensure you draft this clause appropriately. Think of a bookkeeping contract as the comprehensive user manual for the ongoing relationship. An engagement letter, on the other hand, is a more focused document outlining the specifics of a particular project within the larger framework of the contract. Brooke Davis serves as Legal Counsel at Legal Templates LLC, where she edits https://www.bookstime.com/ and writes content, simplifies legal concepts and jargon, ensures legal accuracy, and advises on product development, functionality, and user experience. She has been a licensed attorney since 2011 and has years of legal experience advising and representing clients on a wide variety of business and other legal matters. She founded the first fully online, unbundled law firm and is an expert on legal AI and technology.
How Our Free Bookkeeping Contract Agreement Template Helps You
A Copyright Assignment Agreement is a legally binding contract in which the owner of a copyright (the assignor) transfers all or part of their rights in a copyrighted work to another party (the assignee). Our virtual collection of more than 85,000 up-to-date legal forms covers almost every element of your financial, legal, and personal affairs. With just a few clicks, you can quickly get state- and county-compliant templates diligently put together for you by our legal experts. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written. You no longer have to print, sign, and mail physical copies of contracts.
Of course, we recommend that you have a licensed attorney review them to ensure that your contract addresses all legal requirements for the region you do business in. The agreement should also explain that the client is responsible for the accuracy of the information provided. You do not want to be held legally responsible for inaccurate financial statements prepared from inaccurate information provided by the client. Several key items should be included in a Bookkeeping Contract Agreement. You should also check to see if your state has any specific requirements to make a service contract legal and binding to ensure your agreement is in accordance. That’s why we’ve created a free set of 32 accounting and bookkeeping workflow templates to help you standardize your workflows.
- Clearly state the measures in place to protect client data and assure compliance with data protection laws.
- The terms in your document will update based on the information you provide.
- Add your full legal name, business name (if applicable), and contact information.
- Clearly articulate the compensation structure – whether it’s an hourly rate, fixed fee, or retainer basis.
An accounting contract should clearly define the scope of work, payment terms, timeframe for completion, confidentiality and non-disclosure provisions, and dispute resolution procedures. It’s also important to include any other terms and conditions that are relevant to the specific engagement. Legal Templates LLC is not a lawyer, or a law firm and does not engage in the practice of law. Legal Templates cannot and does not provide legal advice or legal representation. All information, software and services provided on the site are for informational purposes and self-help only and are not intended to be a substitute for a lawyer or professional legal advice.
DIY or Hire a Professional?
- Having a formal contract in place with your accountant is crucial to outlining the scope of services and fees.
- The Client will provide the Accountant with true and complete information necessary for the Accountant to perform its services.
- The Accountant shall not be considered an employee, broker, or agent of the client.
- In the end, this sets the stage for a long-lasting and successful working relationship.
- Depending on how you are keeping your books (paper, excel, QuickBooks, etc.) will dictate the exact steps.
Organized books will also help your business ensure that every invoice is sent on time, that your accounts receivable are not unpaid, and that you pay your credit card bills on time, thereby avoiding late fees. In an Hourly Rate Agreement, the bookkeeper charges the client based on the actual hours spent on bookkeeping tasks. This type of agreement is suitable for clients with sporadic or unpredictable bookkeeping needs.
However, it is known to give a business more information regarding the future outlook of the business. It is best to reach out to a CPA for advice about what accounting method will work best for your business. As an independent contractor, you must keep certain required records to prevent tax trouble. If this sounds intimidating, don’t worry; by following the tips in this guide, you can avoid an audit (or be ready for one). Any notices to be given under this Contract by either party to the other may be effected either by personal delivery in writing or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices shall be addressed to the addresses of the parties as they appear in the introductory paragraph of this Contract, but each party may change the address by written notice in accordance with this paragraph.