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Bookkeeping Service Contract
The Firm will provide the following Bookkeeping Services for Client's business monthly:
Firm offers a variety of additional services to other clients, such as audit, review, or compilation services. Client is aware of Firm's ability to provide these additional services, the costs associated with Firm providing such services, and how such services differ from the Bookkeeping Services, but Client has decided to engage Firm to only perform the Bookkeeping Services described in this Agreement and not these additional services. Engagements for additional services will necessitate a separate engagement letter to reflect the obligations of both parties.
Client hereby acknowledges, understands, and accepts the following responsibility to provide firm with documentations needed to complete the Bookkeeping Services. Client must provide Firm with unrestricted access to the types of documentation listed below for Client's business in a timely manner:
A retainer is not usually required for monthly bookkeeping services since fees are collected in advance each month. However, a non-refundable initial Setup fee for the QuickBooks Online is required in advance.
Client is responsible, without prior notice, for reimbursing Firm for any direct costs incurred by Firm in performing its services for Client that do not exceed $500. For any costs in excess of that amount, Client is only responsible for reimbursing Firm for the cost if Firm notifies Client of the expense and Client either agrees to reimburse Firm for it in writing or does not respond to the notice within 5 days of Firm sending the notice. Examples would be reimbursement for a box of envelopes to mail accounts payable checks, taxes paid on behalf of the Client if they were out of town, etc.
If Firm is required to respond to a subpoena, court order, or other legal process for the production of documents or testimony relative to information Firm obtained or prepared during the course of this Engagement, Client hereby agrees to compensate Firm at its ordinary hourly rate for the time spent responding to or appearing for the legal process and reimburse Firm for all costs incurred in connection to such.
For any fees or costs owed to Firm in connection with this Engagement, the following terms and conditions apply:
12.1 Billing Frequency - the Firm will bill Client monthly and all bills are payable upon receipt.
12.2 Time to Pay - the Client must pay all amounts owed on any bill sent by Firm within 10 days of Firm sending a bill to Client.
12.3 Interest Charges - Any failure by Client to pay amounts owed to Firm within the time allotted to make such payments may result in an interest charge of 12% per year for any unpaid amounts.
12.4 Non-Payment - the Firm may suspend its services or terminate this Engagement for any failure by Client to pay any amount owed within the time allotted to pay such.
12.5 Collection - If any collection action is required to collect unpaid amounts owed to Firm, Client is responsible for reimbursing all costs of collection incurred by Firm.
Firm will communicate with Client and others via email in connection with this Engagement. Client hereby acknowledges and understands that such emails may not always reach their intended destination and can be intercepted, read, disclosed, or otherwise used by unintended third parties. Firm hereby specifically disclaims and waives any liability or responsibility whatsoever for the interception or unintentional disclosure of emails transmitted by Firm in connection to this Engagement. Client hereby agrees that Firm will not have any responsibility or liability for any loss or damage to any entity or agent of Client resulting from the interception or unintentional disclosure of emails transmitted by Firm in connection to this Engagement.
Firm will retain documentation related to this Engagement for a period equal to 48 months following Firm's receipt or creation of the documentation, and Firm will destroy the documentation after such time. Any of Client's original records accumulated by Firm or financial statements created by Firm for Client during this Engagement will be returned to Client promptly upon completion of this Engagement, and Client will provide Firm with a receipt for the return of such records. Any other documentation is Firm's property and Firm will provide copies of such documentation at its discretion and may require compensation from Client for any time and costs resulting from providing such documentation.
For any dispute arising regarding the meaning, performance, or enforcement of this Agreement, the Parties hereby agree to resolve the dispute in accordance with the following:
To the extent that Firm is found liable to Client following any dispute resolution or judicial proceeding, Firm's liability to Client shall not exceed the total amount of compensation Client paid Firm pursuant to the Engagement plus an amount equal to $100.
Each Party shall, at its own expense, indemnify, hold harmless, and upon request, defend the non-breaching Party from and against any and all claims, losses, liabilities, damages, demands, settlements, expenses, and costs arising directly or indirectly from any breach of this Agreement, the gross negligence or willful misconduct of the breaching Party or its agents, any intentional or knowing misrepresentation of inaccurate or incomplete information in connection to this Agreement.
Either Party may terminate the Engagement prior to its natural end, and any early termination must be conducted and completed in accordance with all of the following conditions:
By signing and dating on the lines provided below, the Parties hereby accept and adopt this Agreement and agree to act in accordance with and be bound by its provisions.
Client signature: ________________________________________________
Printed name: ________________________________________________
Company name: ________________________________________________
CARL E. WESSELS, CPA