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Bookkeeping is the process of tracking and managing a company's financial procedures and management. It establishes a set of checks and balances, which helps to guarantee accountability. As a result, the position of bookkeeper in an organization's financial health is critical.

Bookkeepers are in demand among a wide range of businesses, from big businesses to freelancers, to manage their finances. Bookkeeping is more than just reporting on statistics, according on experienced bookkeepers. It also entails analysis of the data generated by the findings, summarizing recorded transactions, and reporting on them. Have you ever had conflicts with your job about fulfilling professional duties? Of course, you have undoubtedly experienced a few poor events in your career; after all, accountancy is not a paradise profession. People tend to disregard the obligations they owe you for your services at times, whether it's from their employer at work or a client who hires your freelance accounting services.

Accountants and bookkeepers are people who specialize in the handling, production, and analysis of financial data. If you work with clients, the bookkeeping contract template is one you should not take lightly. To operate successfully with a new client, you'll need a bookkeeping agreement in place.

A contract is an official agreement that sets forth the details of the work and responsibilities of the parties involved. Typically, a contract provides a project's road map; it specifies the goal and expectations, as well as other significant aspects that impact project success.

A bookkeeping service agreement ensures that as a bookkeeper, you are paid for all of your bookkeeping services, financial advice, and immunity from liability for the services you provide. For businesses, the term of the bookkeeping service agreement should clearly define the goods they wish to use, such as record-keeping, maintenance, or budgeting.

As an accountant with a seasoned staff, you are getting a lot of calls from potential customers asking to handle their books. However, you're having trouble closing deals with any client because there's no accounting service agreement available for you to use!

You may calculate profitability in two ways. First, you can use the methods for determining anticipated income that we've already discussed (e.g., an accounting service agreement template).

The fear of missing out on important information, which might result in client non-payment of fees, is what's preventing you from utilizing that template. As a consequence, it's critical to have a bookkeeping service agreement drawn up right away to keep things professional and protect your interests.

1. Key features of a bookkeeping service agreement

The elements of a bookkeeping contract template will differ depending on the size of the job. Some required data should not be left out, however. See what's listed below. The following sections must be included in every bookkeeping service agreement:



1.1. Details of parties involved in the accounting contract template

The first section of the bookkeeping service agreement contains the names of all parties involved. It also summarizes all key aspects of the contract, such as as the services provided, payment to the bookkeeping accountant, and conditions and terms. It may also summarize the length of engagement and when the bookkeeping service agreement will be terminated in theory.

1.2. Services and pricing section of the bookkeeping service agreement template

Bookkeeping services are offered by bookkeeping firms in a wide range of areas. As a result, this section of the bookkeeping service agreement specifies and describes the services that the client wants you to provide. By defining the services clearly, you avoid being taken advantage of by asking for more work than was agreed upon.

In addition to defining the services, this section of the bookkeeping service agreement covers the rates for those services. It validates your contention that the customer has agreed to pay a specific amount at a particular rate for all of your services. Depending on your company strategy and project, you may charge flat service fees, hourly fees, or a monthly retainer.

1.3. Material and data access in a bookkeeping contract template

It is critical to examine all recorded data in order to obtain a comprehensive picture of the company's financial health. The client must agree to provide you access to all financial records and accounts. In addition, the client must accept full responsibility for ensuring that these records are accurate. This clause ensures that you have access to all of the information you'll need and aren't held responsible if it's faulty.

1.4. Intellectual property protection in your accounting contract

You may be using intellectual property in the form of tools and templates that have been created throughout years of service. Your clients do not own your intellectual property simply because they are making use of your services. As a result, you must have a clause relating to IP protection in your bookkeeping service agreement.

1.5. Limitation of liability in a bookkeeping contract template

In the case of a bookkeeping service agreement, this clause protects you from being sued for things beyond your control. It defines the parameters of your duties and restricts the amount that a client may ask in exchange for your services.

A bookkeeping service agreement is required for all bookkeeping service activities, as shown in this figure. Bookkeeping is a time-consuming and labor-intense operation, so it's only fair to make sure you're safe and secure.

1.6. Identify the bookkeeper and the client in your bookkeeping service agreement template

Both parties must sign the bookkeeping contract as well as a statement of work. The date the agreement was established by both parties should follow the header of your bookkeeping contract template. nThe client's and accountant's names are next, along with their business name, contact address, mailing address, and phone number.

1.7. Definite services in the accounting contract

Next in your bookkeeping contract template is the accurate description of the service you are being employed to provide. You can provide a checklist to name them, such as Accounts Payable & Receivables, General Ledger, Bill Payment, etc.

1.8. Compensation section of a bookkeeping service agreement

Include your charges in the bookkeeping contract template and the technique you intend to employ. Some Accountants charge by the hour, while others take a set fee for projects. Bookkeepers typically demand an hourly charge that is appropriate for long-term contracts.

1.9. Timeline of the accounting agreement

A contract template for bookkeeping should include the start date and duration of the project. A project may also be divided into separate parts, with milestones set to measure progress.

1.10. Material and data access in an accounting contract

Because you're working with financial data as an accountant or bookkeeper, include access and authorization to clients' databases in your bookkeeping contract template. It's also essential that you note that the accuracy of the present financial information is solely at your client's discretion.

1.11. Confidentiality section of a bookkeeping service agreement template

You should include a confidentiality clause in your bookkeeping contract template since you will have access to sensitive financial data of your customer. You agree to maintain trade secrets and business information provided to you as part of this agreement by signing it.

1.12. Terms and conditions/termination of an accounting contract

The bookkeeping contract form must address concerns about early withdrawal and the terms and conditions for terminating the agreement. It may also describe how conflicts will be resolved.

1.13. The necessities of the accounting service agreement

Your name, address, and other communication information, as well as the client's name and contact information. This identifies who is providing the service and who is receiving the service.

1.14. Purpose of the bookkeeping agreement

The client's objective for which you're providing services, as shown in the accounting service agreement, must be stated. The client should communicate with you in writing about the specific accounting services that are required, such as audits of accounts or financial statement preparation.

1.15. Length of the accounting contract template

A freelance agreement will have a start and end date. Apart from the length of the contract, you should clarify that additional services will be provided beyond the accounting service agreement's expiration date, but at a higher fee.

1.16. Mention the fees and other expenses in your bookkeeping service agreement

The accounting service agreement should state how and when the customer will pay you for your services. When you intend to raise the cost, either monthly or all at once, as well as when the client has to pay you. Airfare, taxi fares, boarding costs, and lodging are examples of travel and other miscellaneous expenses that might be reimbursed if the customer agrees. Whatever is left out by the customer must be stated as well.

1.17. Your status in this accounting contract template

You are not an employee but a freelancer in the freelancer contract, which gives you complete control over how the service will be delivered. As a consultant, you will pay income taxes.

1.18. Maintaining records of your accounting contract

You must keep complete records of all financial transactions performed as a result of the accounting service agreement. These documents will be verified by the client and the authorities, who will audit them.

1.19. Ensuring the secrecy of client information from your accounting contract template

As a freelancer, you'll have access to nonpublic data about the client's company. Both you and the client must agree that any information obtained in this manner will not be shared with a third party.

1.20. Intellectual property rights in a bookkeeping contract

You will take on all risks and bear any losses that may be incurred by your client as a result of the accounting service agreement. All intellectual property rights over anything you develop or invent during the term of the contract will belong to your customer.

1.21. Workplace safety covered in your accounting contract

The customer is responsible for the safety of you and your team at work. The client should provide first-aid stations and ambulance services. As a freelancer, you will indemnify or not be held liable for any expenses incurred as a result of accidents or medical emergencies while providing accounting services.

1.22. Termination of the bookkeeping agreement

When the freelance agreement comes to an end date, it will be automatically terminated if you or the client decide to terminate the agreement before its expiration for any part of the contract.

1.23. Signature of parties involved in the accounting contract

Both you and the client should leave enough room for signature on the freelance agreement. Both of you should sign the freelance agreement after both of you have agreed to all of its provisions.

2. Learn from experience when drafting the bookkeeping service agreement template

There are several freelancers who have had bad experiences with their clients. Freelancer accountants, from bookkeeping to CFO, may face payment refusal and stress when dealing with agency representatives from small and major corporations. Most clients are unfamiliar with how freelancers in the business put their love for a topic and strong educational backgrounds to work to offer the most relevant services in order to establish a reputation and ensure customers achieve their aims. The most difficult part is that freelance accounting professionals invest their time and money in order to provide competent job experience.

Nonetheless, these freelancers are subjected to heavy monitoring and are frequently mistreated by clients who can't fulfill the responsibilities in the harsh constraints imposed on them.

There are several ways that you can be used by those with whom you work. Simply peruse some of the Cases From Hell and Reddit tales to get a sense of what goes on outside of your door. There's one about a customer who gave his freelancer very broad instructions on a copywriting project, which resulted in numerous problems for the person hired (but no real solution). He gave no leeway to the freelancer when asked for clarification on these instructions, demonstrating a consistency in instructive methods that left him no choice but to accept what he had. As you may have guessed, the client did not like the job and refused to pay the agreed fee after it was completed.

3. Put dedication into creating your accounting contract

The majority of freelancers are people who have dedicated their lives to working from home. Perhaps they were laid off and decided to freelance as a result. Such freelancers work diligently to maintain their abilities and earn an income; as a result, they should not be subjected to abuse. As a result, freelancers deserve the right to negotiate terms with their customers in order to guarantee that they are not harmed. Apart from completing the task, the presence of a business relationship is significant for freelancers.

As a result, freelancers need to be able to work in an efficient and pleasant way while also interacting with the enormous worldwide online community. Freelancers therefore require appropriate techniques and policies to ensure that they may operate freely and network with other participants on the internet. It would be beneficial, especially for new freelancers who are likely to deal with bad clients.

There are many people like you in the market. Accountants such as yourself are frequently engaged for accurate financial work that requires time and effort, so you should avoid taking needless risks by employing company methods that are best for your own protection.

4. Overcome misuse with a bookkeeping service agreement

Similarly, freelancers should utilize platforms that allow for clear visibility into their collaboration. There are certain questions that freelancers should ask before seeking work on a platform to ensure they are protected in the event of abuse or underpayment.

You may avoid uncomfortable situations like the one described above by drafting a contract with prospective customers. Contracts are formal instruments that bind your clients to the rules. It prevents dishonest clients from doing unethical things since they have agreed to terms set through mutual agreement, and you're in a stronger position to defend yourself if something goes wrong.

On the one hand, freelancers should carefully read through their accounting contract agreement before collaborating. Before they work together, freelancers should look at the accounting contract agreement to ensure that they are on the same page. Such rules can be used to hold a party accountable if he or she breaches the contract. To determine the client's reputation when it comes to hiring freelancer accountants, you can check their online feedback. There should be room for negotiation so both the freelancer and the client are happy with the final results.

A disadvantage of doing things this way, especially if you are a freelance accountant, is that it might reveal the clients' real intentions. Because it's an issue for him, a person who simply wants to take advantage of you wouldn't sign your accounting contract template. He may get into trouble if he breaches the terms agreed upon.

5. Confidentiality in an accounting contract

The accountant contract agreement might assist freelancers in quickly determining a client's intentions. Freelancers have the ability to inquire about things that aren't clear here, and they may do so without the fear of being scolded. There is also space for freelancers to seek advice from specialists to help them recognize false claims that may cause future difficulties.

In the event that additional accounting responsibilities are necessary, the freelancer may request training or recommendations to complete the project within the expected time. All arrangements and communication will be governed by the agreement, so any violation of terms and conditions on either side will be held responsible for each party.

Additionally, the reputation of a business accountant is not only based on your professional knowledge; your company procedures as well as non-technical skills are equally important. Including a contract form from an accounting practice among your services will give you a more professional appearance and enhance your chances of being hired.

The contract agreement will help freelancers work competitively without fear of being misused by allowing them to complete tasks quickly and efficiently. Work discipline will also be highly enforced, resulting in measurable client expectations. Freelancers would want to develop together; therefore, the document can assist them in demonstrating and measuring their expertise in the industry.

As a bookkeeper, you may be assigned to provide an accounting service on a one-time or recurring basis. If you're hired for this work, your client will most likely give you access to receipts, banking records, revenue data, account receivable and payables, and other financial information.

As a result, you and your client must first enter into a bookkeeping agreement before you can access their accounts. As a result, you should consider obtaining a contract template that will fit in with your various projects. If you're still unsure what a bookkeeping contract should include, don't worry. In the last section of this essay, we'll show you how to create one.

6. The work of a bookkeeper

A bookkeeper is a person who maintains financial records for an individual or a firm. For financial reporting and tax returns, a bookkeeper that is generally an accountant is employed to develop a method to manage the financial data of an individual or business.

A bookkeeping contract template must state the specific service to be provided on behalf of a client and include it in a signed document. A bookkeeper may be tasked with overseeing a variety of services depending on the customer:
  • Bill statement
  • Accounts Payable
  • Account Receivable
  • Payroll & Check Registers
  • Custom Reports
  • Financial Statements
  • Bank reconciliation
  • Budget Preparation
  • General Ledgers
  • General Bookkeeping






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