Terms and conditions related to the monthly bookkeeping services
Last update: Dec, 22nd, 2021 EABookkeeping.v1.0-12/20.01
This version substitute the previous version (Bookkeeping.v1.0-12/18.01) on it’s full contents, clauses and applied charges methodology.
The service, object of this Engagement Letter will start according to the date mentioned on the Recurrent Service Order approved by you, upon clicking on the button “AUTHORIZE” and, we will carry out the Monthly Bookkeeping.
For this Engagement Letter, both SAFETY TAX and the customer understand that the customer is solely responsible for the information presented and must, therefore, previously review all the information presented. SAFETY TAX is not responsible and should not be understood as responsible for reviewing the information presented or even for auditing such information, to find possible errors in the customer preparation of statements. SAFETY TAX is only responsible for receiving the information and preparing the bookkeeping.
The client understands that, according to this Engagement Letter, he is also responsible for designing and implementing control measures that aim to ensure that the information sent to SAFETY TAX is accurate, thus preventing errors or omissions from impacting the results of the client’s bookkeeping preparation. In addition, by agreeing to this Engagement Letter, the client agrees that he is responsible for identifying and ensuring that he complies with applicable laws and regulations of the United State of America and the state where the company is registered.
SCOPE AND LIMITATION OF OUR SERVICES:
SAFETY TAX commitment, through this Engagement Letter, cannot be understood as a task of looking for errors, irregularities, or illegal acts, including fraud or embezzlement, which may exist, however, SAFETY TAX undertakes to inform the client of any material errors or any irregularities or illegal acts that come to our attention, unless they are clearly irrelevant.
In order for SAFETY TAX to complete this commitment in a timely and efficient manner, is required through this Engagement Letter, unrestricted access to all documents related to the client’s financial transactions, including, but not limited to sales invoices, POS tickets or any other necessary information that affect the bookkeeping preparation.
- The services defined in this Engagement Letter will be performed and charged on a monthly basis, upon previous authorization of the service via our service order.
- This Engagement Letter does not include business management and under any circumstance, the revision of the information provided or even, an audit of the presented numbers. If an amount appears unusual or out of the ordinary, we will call it to the client’s attention but, we do not take any responsibility for the discovery of any errors, irregularities, or fraud.
- The work provided by SAFETY TAX is not made up of any sort of auditing of the numbers presented by the client. It is the client’s responsibility to guarantee the accuracy of the information provided. We will not verify the data submitted for accuracy or completeness understanding that the client’s the sole entity that knows the numbers and information to be reported and for that, we will rely on the accuracy and completeness of the information and or documents the client’s providing to SAFETY TAX.
- SAFETY TAX will provide feedback about the completion, preparation, and registration of the information provided, and in order for SAFETY TAX to be able to perform the service, the object of this Engagement Letter, all applicable information must be provided through an electronic means of communication at the first week of the following month.
- SAFETY TAX will not request or receive original or physical copies of any documents to accomplish the performance of the services, object of this Engagement Letter. All documents received must be submitted through a specific system provided by SAFETY TAX to the client. If there is a need for an original of a physical document, SAFETY TAX will communicate that need and retrieve only the copies requested.
- SAFETY TAX will perform the services related to the bookkeeping as described below:
- Reconcile checking accounts with bank statements monthly to close the monthly accounting and identify possible errors. We will make the corrections and identify the source for the relevant adjustments informing you about these adjustments and any corrections that were necessary to be performed.
- Review, analyze, and reconcile general ledger accounts for accuracy and confer with you regarding any items not fully understood.
- Record cash receipts/income from your daily cash reports and/or bank deposits.
- Prepare and record all necessary journal entries to reflect correct accounting records.
- Prepare and present Financial Statements.
The client is responsible for adopting sound accounting policies, maintaining an adequate and efficient accounting system, safeguarding assets, authorizing transactions, retaining supporting documentation for those transactions, and for devising a system of internal controls that will, among other things, help assure the preparation of proper financial statements. Furthermore, you are responsible for management decisions and functions, for designating a competent employee to oversee any of the services we provide, and for evaluating the adequacy and results of those services.
- The client is responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the Company involving:
(b) employees who have significant roles in internal control, and
(c) others where the fraud could have a material effect on the financial statements.
- The Client is also responsible to inform SAFETY TAX of knowledge of any allegations of fraud or suspected fraud affecting the Company received in communications from employees, former employees, regulators, or others.
- In addition, the Client is responsible for identifying and ensuring that the entity complies with applicable laws and regulations.
- The client is responsible for providing us with the following documents:
- Cash receipt reports and deposit slips.
- Cash disbursements, bank statements.
- Check register, prior year’s tax return.
- Articles of incorporation, partnership agreements.
- Copies of purchase/lease contracts and loan agreements.
- A detailed list of company assets (description, date of acquisition, original cost, and current value).
- Other documents are necessary for correct account reporting.
- In order for us to complete this engagement, and to do so efficiently, we require unrestricted access to the following documents and information concerning your company:
- Copies of basic documents reflecting your financial transactions, including check stubs, summaries of cash receipts and sales (cash and credit), bank statements and cancelled checks, listings of accounts receivable and accounts payable, and documentary support of property and equipment transactions-purchases, trades, sales, leasing contracts and other dispositions.
- Information concerning any mortgage or pledge of business assets on business debts, any personal guarantees or debt, leases, or other information that affects or may affect the results of operations of the business.
- Any other financial information is necessary for purpose of reflection on your accounting records, trial balance and tax returns.
- Identification of all cash receipts as to source (i.e., loans, sales, etc.), and information concerning all transactions that are consummated with cash.
As per the object of this Engagement Letter, SAFETY TAX, once performed the bookkeeping services and aims to clarify any doubts or questions regarding the monthly results, through this document, SAFETY TAX offers the Client, a 30-minute monthly video or teleconference meeting, non-cumulative, that can be used by the Client to clarify doubts and or questions necessary for the completion of the services object of this Engagement Letter.
The parties understand and accept that any type of extra meeting requested by the Client, even if it is part of the object of this document, will be understood as a consultancy, and therefore, such a meeting might be charged by SAFETY TAX, as its sole discretion.
OUR FEES POLICY:
The monthly fee for the services established in this Engagement Letter will take into consideration, the number of financial accounts, the accounting analysis by class (according to local legislation) and the analysis of the entries made in each financial account (bank accounts, savings accounts, credit cards, PayPal, cash on hand, etc.) to calculate the volume of movements (debits and credits) existing in each account. Thus, it will be up to the Client to determine the bookkeeping package services appropriate to the reality of his company at the time of contracting our services, according to the table mentioned below (Table of Prices and volumes).
After the provision of services, if the monthly volume of transactions is greater than that estimated by the Client according to the package chosen, if there’s a surplus of transactions according to the package chosen, this quantity will be added to the invoice value for that month.
The Client may, upon written request and every calendar quarter (March – June – September – December) readjust its service plan, so that the company fits a new “package” standard.
Safety Tax undertakes to inform the Client, 30 days in advance of all readjustments, price changes or conditions relating to the table that is part of this document.
PERIODICITY OF ADJUSTMENTS:
Yearly. Coming into effect on January 1 of each year.
TABLE OF PRICES AND VOLUMES:
|Package Name||Package Price||Quantity of Entries||Price per Extra Entries|
|PACKAGE 10||U$20.00||Up to 10||U$0.58|
|PACKAGE 25||U$28.75||Up to 25||U$0.58|
|PACKAGE 50||U$57.50||Up to 50||U$0.58|
|PACKAGE 75||U$86.25||Up to 75||U$0.58|
|PACKAGE 100||U$115.00||Up to 100||U$0.58|
|PACKAGE 150||U$172.50||Up to 150||U$0.58|
|PACKAGE 175||U$201.25||Up to 175||U$0.58|
|PACKAGE 200||U$230.00||Up to 200||U$0.58|
*Prices valid for January 1st, 2022, to December 31st, 2022.
** This is an indicative price for new contracts starting in 2022 only and does not substitute any previous agreement between the Client and Safety Tax nor be used as a comparison to claim a refund of the difference between the previous agreement between the parties.
GENERAL CONSIDERATIONS ABOUT SERVICE PACKAGES:
- The pricing of the bookkeeping service to be contracted will take into consideration the following parameters:
- – The number of financial accounts.
- – Accounting by Class, for example, companies whose activity is Short Term Rentals or Transport Carriers will incur an increase of $10.00 (ten dollars) per rental property or truck, since local legislation establishes that the Tax Return file must be presented by each unit of property and/or truck.
- – The number of monthly transactions (entries and exits) considers the sum of all accounts.
- – Each package offers a maximum number of releases, not cumulative for subsequent months.
- Extra entries:
With each elaboration of the bookkeeping service for a given month, EzControl, the system used by Safety Tax will be auditing each financial account and compute the respective movements. Thus, the volume effectively verified in the period will be compared monthly for measurement with the package chosen by the customer. All extra movements will be charged separately so that the customer has a complete analysis of what he is paying for the accounting service for the month in question, and all invoices sent to customers will be accompanied by a specific and detailed report, specifying.
- Contracted package.
- The number of financial accounts.
- Extra-package services.
OUR SERVICES FEE:
The service, object of this Engagement Letter services are not refundable and will be charged monthly, regardless of whether the information required to perform our services has been sent by the customer and will be automatically charged at the client’s bank account our credit card informed. All invoices are due and payable upon presentation.
If the necessary information for the bookkeeping preparation is not presented by the client for a period of time longer than 30 days of the specific month for the bookkeeping preparation (for example, January month information has to be presented before February 28th), SAFETY TAX reserves the right to charge twice from the Client to perform the service for this specific month, understanding that our entire service structure was at the Client’s disposal according to the established in this Engagement Letter. Any interruption of the previously authorized payment, by whether the reasons, will give SAFETY TAX an unrestricted right to immediately interrupt the execution of the contracted service and is therefore not responsible for any fines or other consequences imposed on the client for failure to declare the Sales Tax declaration.
The Client agrees that the maximum liability that might arise for any reason relating to services rendered, shall be limited to the total amount of the last two monthly basis fees paid by the Client, for the services represented on this Engagement Letter.
The Client has the right at any time to terminate our services upon written 30 days’ notice. Such termination shall not, however, relieve the clients of the obligation to pay for all services already rendered, including work in progress and remaining incomplete at the time of termination, and to pay for all expenses incurred on behalf of the clients through the date of termination.
BINDING EFFECT, ARBITRATION
This engagement shall become valid when executed and accepted by the client in Orlando, Florida. It shall be deemed made and entered into in the State of Florida, United States of America and shall be governed and construed under, and in accordance with the laws and decisions (without regard to any conflicts of law provisions) of the State of Florida.
In entering this engagement, the Client acknowledges that it has sought, voluntarily accepted, and become served by SAFETY TAX who is headquartered in Orlando, Florida.
IN THE EVENT OF ANY CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR THE BREACH THEREOF, THE PARTIES HERETO AGREE FIRST TO TRY AND SETTLE THE DISPUTE BY MEDIATION, ADMINISTERED BY THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION UNDER ITS MEDIATION RULES. IF SETTLEMENT IS NOT REACHED WITHIN SIXTY (60) DAYS AFTER SERVICE OF A WRITTEN DEMAND FOR MEDIATION, ANY UNRESOLVED CONTROVERSY OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE SETTLED BY ARBITRATION IN ACCORDANCE WITH THE INTERNATIONAL ARBITRATION RULES OF THE INTERNATIONAL CENTRE FOR DISPUTE RESOLUTION.
To confirm that you agree with the services and terms listed on this engagement, please click on the button named “AUTHORIZE”.
By clicking on “AUTHORIZE” bottom, the client accepts our recurring services, with all terms and conditions listed on this document, authorizing also, SAFETY TAX to collect the information related to the IP address of the computer used for the authorization of the recurring services as well as the browser name, date, and time of the authorization. Once collected such information is, an electronic copy of this document will be sent to the e-mail address you have assigned as the official e-mail address SAFETY TAX will use to communicate electronically with your company.
Should you have any questions regarding these requirements or provisions, please feel free to contact us.
SAFETY TAX & BOOKKEEPING
A Dba of NETWORK FOR PRO LLC
Phone: 407-888-4747; Fax: 407-888-4949 www.safetytax.com
SAFETY TAX & BOOKKEEPING