Bookkeeping Services terms

Terms and conditions related to the monthly bookkeeping services

1. The services defined in this Engagement Letter will be performed and charged on a monthly basis, upon previous authorization of the service via our service order.
2. This Engagement Letter does not include business management and under any circumstance, the revision of the information provided or even, an audit of the presented numbers. If an amount appears unusual or out of the ordinary, we will call it to the client’s attention but, we do not take any responsibility for the discovery of any errors, irregularities, or fraud.
3. The work provided by SAFETY TAX is not made up of any sort of auditing of the numbers presented by the client. It is the client’s responsibility to guarantee the accuracy of the information provided. We will not verify the data submitted for accuracy or completeness understanding that the client’s the sole entity that knows the numbers and information to be reported and for that, we will rely on the accuracy and completeness of the information and or documents the client’s providing to SAFETY TAX.
4. SAFETY TAX will provide feedback about the completion, preparation, and registration of the information provided, and in order for SAFETY TAX to be able to perform the service, the object of this Engagement Letter, all applicable information must be provided through an electronic means of communication at the first week of the following month.
5. SAFETY TAX will not request or receive original or physical copies of any documents to accomplish the performance of the services, object of this Engagement Letter. All documents received must be submitted through a specific system provided by SAFETY TAX to the client. If there is a need for an original of a physical document, SAFETY TAX will communicate that need and retrieve only the copies requested.
6. SAFETY TAX will perform the services related to the bookkeeping as described below:
7. Reconcile checking accounts with bank statements monthly to close the monthly accounting and identify possible errors. We will make the corrections and identify the source for the relevant adjustments informing you about these adjustments and any corrections that were necessary to be performed.
8. Review, analyze, and reconcile general ledger accounts for accuracy and confer with you regarding any items not fully understood.
9. Record cash receipts/income from your daily cash reports and/or bank deposits.
10. Prepare and record all necessary journal entries to reflect correct accounting records.
11. Prepare and present Financial Statements.

• The client is responsible for the design and implementation of programs and controls to prevent and detect fraud, and for informing us about all known or suspected fraud affecting the Company involving:
  
  (a) management
  (b) employees who have significant roles in internal control, and
  (c) others where the fraud could have a material effect on the financial statements.
• The Client is also responsible to inform SAFETY TAX of knowledge of any allegations of fraud or suspected fraud affecting the Company received in communications from employees, former employees, regulators, or others.
• In addition, the Client is responsible for identifying and ensuring that the entity complies with applicable laws and regulations.
• The client is responsible for providing us with the following documents:
• Cash receipt reports and deposit slips.
• Cash disbursements, bank statements.
• Check register, prior year’s tax return.
• Articles of incorporation, partnership agreements.
• Copies of purchase/lease contracts and loan agreements.
• A detailed list of company assets (description, date of acquisition, original cost, and current value).
• Other documents are necessary for correct account reporting.
• In order for us to complete this engagement, and to do so efficiently, we require unrestricted access to the following documents and information concerning your company:
• Copies of basic documents reflecting your financial transactions, including check stubs, summaries of cash receipts and sales (cash and credit), bank statements and cancelled checks, listings of accounts receivable and accounts payable, and documentary support of property and equipment transactions-purchases, trades, sales, leasing contracts and other dispositions.
• Information concerning any mortgage or pledge of business assets on business debts, any personal guarantees or debt, leases, or other information that affects or may affect the results of operations of the business.
• Any other financial information is necessary for purpose of reflection on your accounting records, trial balance and tax returns.
• Identification of all cash receipts as to source (i.e., loans, sales, etc.), and information concerning all transactions that are consummated with cash.

• The pricing of the bookkeeping service to be contracted will take into consideration the following parameters:
• The number of financial accounts.
• Accounting by Class, for example, companies whose activity is Short Term Rentals or Transport Carriers will incur an increase of $10.00 (ten dollars) per rental property or truck, since local legislation establishes that the Tax Return file must be presented by each unit of property and/or truck.
• The number of monthly transactions (entries and exits) considers the sum of all accounts.
• Each package offers a maximum number of releases, not cumulative for subsequent months.
• Extra entries:

• Contracted package.
• The number of financial accounts.
• Extra-package services.