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Bookkeeping Contract Template
What Is Bookkeeping in Accounting?
Bookkeeping is the daily act of recording, retaining, and retrieving financial transactions for a certain business. It is done by companies to keep track of all operations that occur within the entity and be aware of their current financial position. Often companies do not hire a full-time bookkeeper to work for them because of the cost and settle for a temporary bookkeeper who signs a Bookkeeping Agreement .
A Bookkeeping Agreement (or "Bookkeeping Contract") is a legal agreement signed by a company and a bookkeeper who provides bookkeeping services for a one time or short term. This is the document for you if you need a business arrangement that involves recording receipts from customers, verifying invoices from suppliers and paying them, and processing employees' wages. Download a Bookkeeping Contract template below or create a more personalized agreement with our online form builder.
A contract for bookkeeping services is commonly confused with an Accounting Contract which is signed by a company and a professional accountant who then interprets, classifies, analyzes, summarizes, and reports financial data.
How to Write a Bookkeeping Contract?
Clarify all terms of the bookkeeping services by including the following information in your Bookkeeping Contract:
- Names of the parties, their addresses, and the date of signing. If the bookkeeper has a license, write down their number;
- List of services the bookkeeper must provide. These vary from client to client; however, at a minimum, you should cover the following services: reports customization, drafting financial statements, overseeing active accounts, billing for goods and services, and providing relevant financial reports. An accurate description of the job at hand and established boundaries will help both parties work in a calm and professional environment;
- Service rates. You may use a pricing table to detail the rates for particular services. It is possible to choose hourly rates, flat fees, or a monthly retainer. Write down the negotiated method of payment;
- Contract duration. State the start date of your agreement and indicate how long you will collaborate;
- Data access and confidentiality. The company is responsible for providing access to its financial records, while the bookkeeper guarantees to honor confidentiality;
- Cancellation. Generally, either party may terminate the contract by providing a 30 day written notice to the other party;
- Signatures of the parties that demonstrate their willingness to enter into a legally binding agreement.
Consider signing a Bookkeeping Contract to formalize your verbal agreement with another party. A bookkeeper is not an agent of the company, its broker, or an employee, and is engaged as an independent contractor. Complete this agreement to ensure services are performed at high standards and the bookkeeper is paid for their services fully and on time.
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