This is especially common for large companies, and when this happens, a bookkeeper’s duties may expand even further. Furthermore, the Client assumes full responsibility for the accuracy of existing financial records. This bookkeeping contract is entered into by and between [Sender.Company] (the Accountant) and [Client.Company] (the Client) as of [Contract.CreatedDate].
Where to read Texas laws?
Of course, we recommend that you have a licensed attorney review them to ensure that your contract addresses all legal requirements for the region you do business in. As a bookkeeper, you know that one of the main roadblocks in completing the work is obtaining information from your clients. You should include language explaining that it is the full responsibility of the client https://www.bookstime.com/ to provide banking records and other financial information necessary to complete the engagement. Yes, an accountant/bookkeeper can work for multiple clients simultaneously under an independent contractor agreement. This flexibility is one of the advantages of being an independent contractor, allowing them to diversify their income and gain experience in various industries.
- (b) Either party has the right to terminate this Contract where the other party becomes insolvent, fails to pay its bills when due, goes out of business, or there is a death of a party.
- Restrictions to prevent competition by a present or former employee are held valid when they are reasonable and necessary to protect the interests of the employer.
- However, they have the freedom to negotiate higher rates to compensate for these additional expenses.
- In the bookkeeping services agreement, both parties agree on the duration of their partnership.
What To Include in Bookkeeping Services Agreement?
Restrictions to prevent competition by a present or former contractor may be held valid when they are reasonable and necessary to protect the interests of the other contracting party. (a) This Contract may be terminated by either party by giving 30 days advance written notice to the other party. It shall remain in effect until the services required hereunder have been completed satisfactorily by Accountant unless sooner terminated as provided in this Contract.
Common Features of an Accounting Contract
You should also include language explaining who is responsible for paying expenses incurred during the engagement, such as software fees, travel expenses, and other out-of-pocket expenses. The agreement can also include a timeframe for receiving payment (i.e., net 30) and a statement that nonpayment of invoices is a breach of contract and will result in termination of services. You should also check to see if your state has any specific requirements to make a service contract legal and binding to ensure your agreement is in accordance. While verbal agreements can be enforceable, it is always advisable to have a written independent contractor agreement to avoid disputes over terms and conditions.
What should be included in a bookkeeping contract?
The agreed termination clauses should outline the notice period and conditions for ending the contract. Yes, independent contractor agreements can be modified or customized to suit the specific needs and requirements of the parties involved. It is recommended to discuss any desired modifications with a legal professional to ensure compliance with applicable laws. An independent contractor agreement is a legally binding contract that outlines the working relationship between a client and an independent contractor.
What is a bookkeeping contract?
It clarifies expectations, reduces the chances of misunderstandings, and helps establish a legally binding relationship with clear terms and obligations. Remember that templates are a great place to start, but every bookkeeping services agreement should be unique. If you need help revising a template accountant for independent contractor to comply with particular state laws and regulations, consulting with a lawyer is a good idea. This bookkeeping services agreement template shows the key parts of the deal. You will have options for services, payment terms, confidentiality, and the roles and responsibilities of both parties.
When to use a Bookkeeping Contract:
An independent contractor is a person or business who performs services for another person under an express or implied agreement and who is not subject to the other’s control, or right to control, the manner and means of performing the services. The person who hires an independent contractor is not liable to others for the acts or omissions of the independent contractor. An independent contractor is distinguished from an employee, who works regularly for an employer.
Stating how legal disputes will be resolved (such as through arbitration) will be helpful if the engagement ever leads to legal action. Additionally, stating who is responsible for paying the reasonable legal fees in the event of arbitration can make the process smoother later. To keep the relationship strong, you and your client must be on the same page regarding your responsibilities. If you’re looking for a an easier and more cost-effective way of preparing Independent Contractor Agreement For Accountant And Bookkeeper or any other forms without the need of jumping through hoops, US Legal Forms is always at your fingertips. Ask a question for free or get affordable legal advice when you connect with a Rocket Lawyer network attorney. The terms in your document will update based on the information you provide.
- It creates an understanding of what is expected from the individual or company bringing the contractor on board as well, such as providing timely and complete financial records and receipts in order for the contractor to do their job.
- According to the Bureau of Labor and Statistics, the national average for bookkeepers is $21.90 per hour and $45,560 per year.
- The Bookkeeper understands that all information provided by the client is sensitive personal and financial information.
- It is crucial to understand and address any state-specific requirements to ensure a valid and enforceable agreement.
- The Accountant shall not be considered an employee, broker, or agent of the client.
- Legal Templates cannot and does not provide legal advice or legal representation.