Many business people or service providers are over taxed with their business and can not devote enough time to their Accounts, which is inherent part of any business. The success of any business depends on properly maintained accounting and book keeping. There are again many small business owners or new comers, who are unaware of proper accounting procedures, which make it impossible for them to maintain their Account Books in proper orders.
Every organization big or small needs to have knowledge of their cash flows such as pay roll, invoice payments, client’s deposits, expenses etc. for immediate information of cash flow in and out of business. It becomes necessary that these cash transactions should be recorded properly in the account book, to get the general immediate overview of the business to understand the direction where business is proceeding. Even strategic planning for future financial needs can be ascertained through proper accounting.
These reasons to maintain Account books properly recording all cash transaction, the need of Account Service provider becomes a necessity. These service providers are adept in maintaining account books and off load lots of mental trauma of organizing greater cash in and out flow from your head, if you have to manage all accounting on your own. Such accounting professionals also have expertise in using of various accounting software, which can be used for the benefit of the client.
Keeping a Account professional permanently is also expensive and not everybody can afford them, whereas Account Service providers are less expensive and tailored as per business needs.
But taking the service of an account professional, without proper Service Agreement (Accounting) is also not a viable option. Because such agreements need certain points that have to be given due importance and they include:
Below given Accounting Services Agreement will assist you in drafting your own agreement with an account service provider. You may add any provisions in the agreement that serves your purpose:
ACCOUNTING SERVICES AGREEMENT
Accounting Services Agreement
_______________, referred to as ACCOUNTANT, and _________________, referred to as CLIENT, agree:
ACCOUNTANT shall furnish accounting services to CLIENT, to be billed monthly at the standard rates for ACCOUNTANT and staff. The following services shall be provided by
ACCOUNTANT:_______________________________
Terms & Condition_______________________________
It is specifically agreed that the services to be rendered by the ACCOUNTANT shall not exceed $___________ in total billings during the first 12 months that services are rendered without the prior written approval of CLIENT, and ACCOUNTANT is specifically required to cease rendering services when the amount specified above is reached.
As a sign of good faith, CLIENT will advance ACCOUNTANT $_____ towards the first bill.
Dated: _____________________________________
CLIENT___________________________________
ACCOUNTANT____________________________
Enc. Extra Copy for Signature__________________
Accounting Services Agreement__________________