MONTHLY

Monthly bookkeeping

Bank and credit-card reconciliations, transaction coding review and an open-items query list.

YOU RECEIVE

Reconciled records and a monthly query summary.

QUARTERLY

Management reporting

A profit and loss report, balance sheet and a concise review of significant movements.

YOU RECEIVE

A quarterly management reporting pack.

ANNUAL

Year-end accounts

Preparation of annual financial statements from the agreed records, including year-end adjustment queries.

YOU RECEIVE

Annual financial statements for your review.

YOUR ROLE

Provide complete records, nominate a contact and review and approve reports. Tell us about material changes.

OUR ROLE

Use professional care, communicate clearly, safeguard your information and flag material delays promptly.

The engagement

This engagement is between [PracticeName] and [ClientCompany] for 12 months beginning [StartDate].

The agreed service schedule and fees form part of this letter. Any renewal will be confirmed in writing.

Records and approvals

You remain responsible for complete and accurate records, the information supplied and your business decisions. Please nominate one contact, respond to queries promptly and review and approve the final reports we prepare.

Basis of our work

We will use reasonable professional care and rely on the records and explanations supplied. Our work is not an audit or assurance engagement, and we do not independently verify every transaction unless separately agreed.

Confidential information

We will use your information to deliver the agreed services, restrict access to those who need it and use appropriate safeguards. We may disclose information when authorised by you or required by law.

Timing and communication

We will agree practical delivery dates and let you know about material delays. Timely completion depends on receiving the required records and approvals. Please tell us promptly about significant changes affecting your business.

Changes to the scope

If you request additional services, or the volume or complexity of work changes materially, we will discuss the impact and confirm any revised scope, fee and timing in writing before proceeding.

Fees and payment

The annual package is invoiced in 12 equal monthly instalments. Invoices are due within 14 days. Fees exclude applicable taxes, which will be added where required. Additional work requires your written approval.

Ending the engagement

Either party may end the engagement with 30 days written notice. Fees for work completed and agreed commitments remain payable. We will discuss the handover of your records and any outstanding matters with you.