Bookkeeping Agreement
What this document covers
The Bookkeeping Agreement is a legal document that establishes a contract between a business (employer) and an independent contractor (bookkeeper). This agreement outlines the responsibilities of the bookkeeper in managing financial records and bookkeeping tasks for the employer. Differentiating it from other contracts, this document is tailored specifically for bookkeeping services, ensuring that both parties understand their obligations and the nature of the working relationship.
Key parts of this document
- Scope of Duties: Details the term of employment and specific bookkeeping responsibilities.
- Confidentiality: Outlines the protection of sensitive financial information and the obligation to return documents.
- Compensation: Specifies payment terms and highlights the independent contractor's tax responsibilities.
- Termination: Describes the terms under which either party can terminate the agreement.
- Independent Contractor Status: Clarifies the bookkeeper's status and their lack of authority to act on behalf of the employer.
Situations where this form applies
This form is essential when a company needs to hire a bookkeeper on an independent contractor basis. It is particularly useful for businesses that require expertise in managing financial records but do not wish to employ a bookkeeper as a full-time staff member. This agreement helps in establishing clear terms of service, compensation, and confidentiality, which can prevent disputes in the future.
Who should use this form
- Employers seeking bookkeeping services from an independent contractor.
- Freelance bookkeepers looking for a structured agreement with businesses.
- Small business owners who need to define the scope of bookkeeping services.
How to prepare this document
- Identify the parties involved: Enter the company name as the Employer and the bookkeeper's name as the independent contractor.
- Specify the term of the agreement: Enter the start date and the duration, if applicable.
- Outline the scope of duties: Clearly define the bookkeeping tasks the contractor will perform.
- Set compensation terms: Fill in the payment amount and frequency (hourly, weekly, monthly, etc.).
- Sign and date the agreement: Both parties must sign and provide the date of signing to make the document valid.
Notarization guidance
This form does not typically require notarization to be legally valid. However, some jurisdictions or document types may still require it. US Legal Forms provides secure online notarization powered by Notarize, available 24/7 for added convenience.
Common mistakes
- Failing to clearly define the scope of duties, leading to misunderstandings about responsibilities.
- Neglecting to include terms of confidentiality, which can expose sensitive information.
- Not specifying the termination process, causing confusion about how to end the agreement.
Why complete this form online
- Convenience: Download the form instantly from anywhere, saving time compared to meeting in person.
- Editability: Easily customize the agreement to fit specific needs before downloading.
- Reliability: The form is drafted by licensed attorneys, ensuring it meets legal standards.
Form popularity
FAQ
Yes, the company should send you a 1099. Its easy to forget to include yourself when you're doing the books! All you need to do is print out a blank form 1099 (from IRS.gov), fill it out, check the "Corrected" box, and mail to the IRS.....and keep your copy of course!
What Is an Independent Contractor Agreement for Accountant? An independent contractor agreement for accountant and bookkeeper is an important document to determine, for tax purposes, that the worker is not an employee of the company.
Bookkeeping is a direct record of all purchases and sales your business conducts, while accounting is a subjective look at what that data means for your business. An accountant can be considered a bookkeeper, but a bookkeeper can't be an accountant without proper certification.
How to Find Your First 10 Accounting Clients Ask Friends and Family for Referrals.Use Online Ratings and Review Sites.Focus on a Niche.Get Involved with Social Media Groups.Target Startup Businesses.Embrace Content Marketing.Partner With Other Professionals.Arrange for Barter.
What is a Bookkeeping Contract? A Bookkeeping Contract enables a bookkeeper to outline the terms of an arrangement with a client. Signed by both the client and the bookkeeper, this essential document helps to set expectations and reduce the risk of conflicts.
This legal contract usually includes information regarding the scope of the work, payment, and deadlines. The agreement might also provide guidance regarding any confidentiality requirements, insurance, and indemnification. Independent contractor agreements go by many names, including: Independent Contractor Contracts.
How to Write 1 ? Access The Services Agreement Template On This Page.2 ? The Accountant And Client Must Be Fully Identified.3 ? Define The Accounting Services That Will Be Provided.4 ? Record The Agreed Upon Compensation For The Accountant's Services.5 ? Report The When ANd Where This Agreement Is Effective.
The general rule is that an individual is an independent contractor if the payer has the right to control or direct only the result of the work and not what will be done and how it will be done. If you are an independent contractor, then you are self-employed.
