Accounting Services Agreement

What is an accounting services agreement?

An accounting services agreement is a professional legal document that defines terms and conditions for the provision of accounting, tax, and bookkeeping services for Australian clients. This document outlines such key elements as scope of services, payment terms, invoicing, mutual obligations of parties, termination and confidentiality.

The parties involved in an accounting services engagement agreement are a professional accountant and a client. Either party can be a sole trader, an independent contractor, a business or a private individual.

Accounting services agreements are mainly governed by the general principles of contract law and Australian Consumer Laws, as well as by the professional standards and guidelines of Chartered Accountants Australia & New Zealand.

Who shall use this accounting services agreement in Australia?

This fully customisable and professionally drafted accounting services agreement template can be helpful for:

• freelance accountants or independent contractors providing professional accounting services;
• small accounting firms looking for a reliable document template for the provision of accounting services;
• financial professionals offering various types of tax, accounting, bookkeeping and payroll services;
• licensed BAS agents operating in Australia.

What should be included in the accounting services agreement Australia template?

Scope of accounting services

One of the most important elements an accounting services agreement sample must include is a clear definition of services to be provided. This helps both parties – a client knows what to expect, and an accountant knows what to do. Thus, a good example of an accounting services document in Australia shall outline:

• all types of services to be provided;
• start date of services;
• key milestones (for complex projects or long-term commitments);
• end date and deadlines;
• if engagement of subcontractors is allowed by an accountant;
• if engagement of certain key employees is mandatory.

Fees and payment terms

An accounting services agreement sample may provide various payment options parties can pick from. The most common payment models include:

• flat fee (for short-term projects);
• daily fee; or
• hourly fee.

All the fees should be outlined in Australian dollars, excluding any applicable taxes like the Goods and Services Tax. Apart from that, the document must provide key deadlines by which payments should be made, as well as the invoicing period.

Confidentiality Obligations

It is common for an accounting services agreement sample to include a confidentiality clause. This clause aims to protect a client’s sensitive information against potential disclosure by an accountant or the accountant’s staff, employees and agents. A client’s sensitive information can include any financial, tax or accounting data that becomes available to an accountant in the course of provision of services.

As an additional layer of protection, parties can also enter a separate confidentiality agreement instead.

ACL compliance section

Every service agreement in Australia, including the present accounting services agreement, shall be compliant with the basic guarantees provided by Australian Consumer Laws (ACL). These guarantees, also known as statutory rights, are a customer’s right to services and goods of certain quality. Australian consumer law only applies when a client is an individual or when services are provided for personal, non-commercial purposes.

Once an accountant provides services below the agreed quality acceptable within the industry or services other than those agreed upon by the parties, a client can request:

• to deliver the services again; or
• to get a full refund of money already paid.

What are the benefits of this Australian accounting services agreement?

The present template has a number of important benefits, including:

• a document suitable for usage across Australia;
• a document with a clear structure and professional wording;
• a document that incorporates best business practices;
• a document tailored for each specific case;
• a template that is ready for instant download after the purchase;
• an editable document in both PDF and Word formats;
• a document created by real legal professionals;
• a document that makes a difference and brings value.

Checklist for Accounting Services Agreement Australia Template

Make the Document

To get a fully customisable document, you have to answer as many questions as possible in the form. Each answer allows you to better customise the document for your particular needs.

Read & Sign the Document

Once the document is ready, both parties must read it carefully to ensure that all information is being reflected correctly. This is particularly important for deadlines, fees, and the scope of services to be provided. It is highly recommended to engage a lawyer to get advice regarding the legal consequences of signing the document in question.

After that, both parties must sign and date the document in two copies, one copy for each party for the record.

Comply with the document

It is important to regularly review provisions of an accounting services engagement agreement to ensure that either party complies with their obligations.

How to customise a legal template with FasterDraft?

To get a fully customisable document template, follow a few easy steps below:

1. Click the “Create Document” button.
2. Answer simple questions in the form.
3. Select a template’s format – accounting services agreement Word or PDF.
4. Make a payment.

The document is ready for instant download immediately after the purchase.