An Accounting Contract is a legal agreement between a client (individual or company) and an accountant, regarding the accounting needs of the client. Use this document to clarify your rights and responsibilities concerning the accounting services, define the scope of these services, and determine the deadlines.
You may compose a contract to specify the services that will be rendered, the accountant's fees, frequency of payments, and termination options. If any disputes or disagreements arise, a properly-drafted Accounting Contract will serve as evidence because it is recognized by all courts of law.
Use an Accounting Agreement to establish a professional relationship between a client and an independent accountant. This document is useful for businesses that want certain aspects of their finances handled and for individuals who have personal accounting needs. A professional accountant will know how to deal with start-up accountancy tasks, company registration, bookkeeping, accountancy references for letting agencies, and other financial challenges.
Do not confuse this document with a Bookkeeping Contract. Both agreements cover important parts of any business and they may appear to be the same from the outside, especially when the same professional is asked to provide both types of services. However, there are major differences. Bookkeeping deals with identifying, recording, and measuring financial transactions, while accounting summarizes, interprets, and communicates these transactions. The goal of bookkeeping is to keep all records of financial transactions in order, and then accounting analyzes the financial situation and communicates the insights and observations based on the available data.
Add the following details to your Accounting Services Agreement:
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