On Going Accounting Engagement Essay

3477 words - 14 pages

On Going Accounting Engagement

This Agreement for Professional Bookkeeping/Accounting Services (the “Agreement”), dated ___________ is by and between _____________________, with its principal office at ______________________________ (Hereinafter “Client”), and Schwind Accounting Services Inc. with its principal office 8404 83rd Ave SW Suite K Lakewood, WA 98498 (Here in after the “Consultant”).

WHEREAS, Client finds that the Consultant is willing to perform certain work hereinafter described in accordance with the provisions of this Agreement; and

WHEREAS, The Client is of the opinion that the Consultant has the necessary qualifications, experience and abilities to provide services ...view middle of the document...

However, it may be necessary to ask for clarification of some of the information provided, and the Consultant will inform the Client of any material errors, fraud or other illegal acts that come to our attention.

3. PAYMENT AND INVOICING TERMS

3.1 Payment for Services. The Consultant will be paid as follows:

Fee Policy:
Our fees for these bookkeeping/accounting services will be______________ plus out of pocket expenses. Income taxes will be billed separately. All invoices are due and payable upon the 1st of each month, (If you are a weekly client your fees are due on each Monday before that week’s work is to begin). Billings become delinquent if not paid with-in fifteen days of the invoice or due date. If billings are past due in excess of fifteen days, we will stop all work and if you are using our terminal services you will be denied access until your account is brought current or you withdraw from the engagement.
The client acknowledges and agrees that we are not required to continue work in the event of failure to pay on a timely basis for services rendered as required by this engagement. The client further acknowledges and agrees that in the event we stop work or withdraw from the engagement as a result of the client’s failure to pay on a timely basis for services rendered as required by this engagement, Schwind Accounting Services Inc. shall not be liable for any damages that occur as a result of ceasing to render services.
3.2 Reimbursable Costs.
Client shall reimburse the Consultant all costs incurred in connection with the Services rendered not included in Exhibit “B”. Reimbursable costs include, but are not limited to, travel costs, materials, copies, delivery, etc. that are attributable to a project or Service (the “Reimbursable Costs”). The Consultant shall provide to Client substantiation of Reimbursable Costs incurred.

3.3 Invoicing.
(a) See Exhibit “B”. If Client has any valid reason for disputing any portion of an invoice, Client will so notify the Consultant within seven (7) calendar days of due date by Client, and if no such notification is given, the fees will be deemed valid.

(b) A finance charge of 1.5% per month on the unpaid amount of an invoice plus a $15 service charge, or the maximum amount allowed by law, will be charged on past due accounts. Payments by Client will thereafter be applied first to accrued interest and then to the principal unpaid balance. Any attorney fees, court costs, or other costs incurred in collection of delinquent accounts shall be paid by client. If payment of invoices is not current, the Consultant may suspend performing further work.

3.4 Taxes
Both the Client and the consultant agree that the consultant will act as an independent contractor in the performance of duties under this agreement. Accordingly, the consultant shall be responsible for payment of all personal taxes including Federal, State and local taxes arising out of the consultant's...

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