Bookkeeping Services Engagement Letter & Retainer Agreement

PACIFIC NORTHWEST TAX SERVICE
Bookkeeping Engagement Letter & Retainer Agreement
Name of Business or Individual hereinafter referred to as "Client", hereby engages and authorizes Pacific Northwest Tax Service, hereinafter referred to as "PNW Tax", and its employees to perform the following bookkeeping services:
1. Perform data entry and bank reconciliations for bank account/credit card transactions for the specified accounts in this agreement.
2. Prepare and submit “unknown transactions” reports to request clarification on unknown bank/credit card statements. Where available, I will provide receipts and check stubs to support the bank/credit card statement transactions.
3. If applicable, reconcile any payroll reports prepared through outside payroll companies to business books.
4. Review books with Client at least once a year to ensure accuracy (other review periods are available by request).

Banking/Credit Card Record Delivery
My preferred method of providing banking/credit card records to PNW Tax is:*

Accountant's online access to financial accounts (*See disclosure, below)PNW Tax Secure PortalU.S. postal mail, FedEx, UPS, or other delivery serviceHand delivery to office
*Accountant's online access disclosure

While the preferred method for providing banking/credit card records to Pacific Northwest Tax Service is with accountant's online access, there is inherent risk to providing such access to any person or business. To ensure security of your financial accounts, Pacific Northwest Tax Service requires you provide our staff with a unique user login and password that limits our login privileges to viewing and downloading of information only. This unique login access can be obtained by contacting your financial institution.
Initial the box below to confirm that accountant's online access provided for use by Pacific Northwest Tax Service staff is limited to viewing and downloading only initial here to confirm to confirm that accountant's online access provided for use by Pacific Northwest Tax Service staff is limited to viewing and downloading only.*

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Billable Rate for Services
The billable rate for bookkeeping services in effect for calendar year 2023 is $100.00 per hour. The hourly rate shall increase by 5-10% annually, effective on January 1 of each year.

NOTE: Rush projects that demand rapid completion during the tax season are subject to an increased rate of $275 per hour.

Retainer for Services
PNW Tax bills for services performed through the following retainer-based invoicing system:

Client shall pay a retainer each month for their bookkeeping services:
1. The bookkeeper shall set the retainer amount based on the number of hours it typically takes per month to work on your account. (The monthly retainer is subject to change if the number of billable hours substantially changes).
2. Payroll services provided by PNW Tax shall be charged separately (please fill out payroll agreement for payroll services).
3. The Bookkeeper will charge you for your monthly retainer on the first day of the month, otherwise, bookkeeping services shall cease until the retainer is renewed.
4. If the number of billable hours exceeds the monthly retainer billed in advance, the client shall receive an invoice for those additional hours at the end of the month, payable upon receipt.
Client, initial below to confirm your understanding that your bookkeeper will automatically charge you a monthly retainer for bookkeeping services on the first day of the month, otherwise, services shall cease until such time as the retainer is renewed. *

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Automatic renewal of retainer requires Client provide PNW Tax with credit card information to keep on file. Select the method by which this information will be delivered.
Upload retainer payment information here.

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Price Estimate
The following examples below reflect the typical number of hours we bill per month of bookkeeping work, depending on the complexity of the account. Please note that billable hours include customer service time, correspondence about accounts and transactions, and time the bookkeeper spends answering questions. The number of billable hours is tailored to your specific bookkeeping account and will vary depending on the complexity of the account. The bookkeeper will determine the exact number of billable hours per month to charge as a monthly retainer.

Simple account: 25 - 50 transactions a month
- Customer service/ correspondence time: ½ hour – 1 hour
- Acquiring/ downloading documents: ½ hour
- Entering transactions into QuickBooks: 1 – 1 1/2 hours
Billable hours a month: 2 – 3 hours / $200 - $300

Average account: 50 – 150 transactions a month
- Customer service/ correspondence time: 1 hour – 2 hours
- Acquiring/ downloading documents: 1 hour
- Entering transactions into QuickBooks: 2 – 4 hours
Billable hours a month: 4 to 7 hours / $400 - $700

Complex account: 200 - 350+ transactions a month
- Customer service/correspondence time: 2 hours – 4+ hours
- Acquiring/ downloading documents: 2+ hour
- Entering transactions into QuickBooks: 5 – 8+ hours
Billable hours a month: 9 to 14 hours / $900 - $1,400+

Explanation of Billed Services
Client shall be provided with an Explanation of Billed Services which shall include the following information:
1. Dates and times services were provided
2. An itemized description of the work done
3. The amount of time spent on each work item described
4. The amount of any retainer collected and remaining retainer balance
Explanation of Billed Services shall be emailed to the Client at the following email address:*
example@example.com

Payment of Retainer for account onboarding and set up

Client agrees to Engage Pacific Northwest Tax Service to provide bookkeeping services and approves payment of the retainer as selected below. Please note this retainer is intended to cover the approximate billable time associated with setting up your account, it is not the retainer amount you will be paying monthly. That amount will be determined by your bookkeeper.

Simple/Average Account $500.00 RetainerSelect this option to pay a retainer in the amount of $500.00.

$500.00 Quantity

Complex Account $1,000.00 RetainerSelect this amount to pay a retainer for services in the amount of $1,000.00

$1,000.00 Quantity

Total

$0.00

Credit Card

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Last Name

Credit Card Number

Security Code

Expiration Month

Expiration Year

Billing Address

Street Address

Street Address Line 2

City

State / Province

Postal / Zip Code

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Client Agreement and Signature
Client agrees to engage PNW Tax to provide bookkeeping services according to the terms and conditions described in this document.
Authorized Signature*

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PACIFIC NORTHWEST TAX SERVICE

Bookkeeping Engagement Letter & Retainer Agreement