Engagement Terms and Conditions
Fixed price agreements are paid via direct debit on the 1st day of the month through our engagement software, Practice Ignition. Our fees are ultimately based on the time required by individuals assigned to the engagement plus direct-out-of-pocket expenses.
Our subscription may be terminated at any time at your request.
For 12 month upfront subscriptions, you will receive a 15% discount for the subscription. If you decide to terminate your contract within this period, no refund of the remaining contract term will be granted.
Ownership of Documents
Any documents which we are specifically engaged to prepare, together with any original documents provided by yourselves, will be your property. Any other documents brought into existence by us including working papers will remain the property of iKeep at all times.
Accounting Data File
The accounting software file, and the information contained therein, is the property of client. Should you wish to remove us from the file or transfer the file to another financial adviser, it will be transferred when any outstanding software invoices have been paid.
As part of our service and pricing, you will be provided with the following Subscriptions:
You will be provided with a Username and Password for each software subscription for data review and management.
You may cancel your iKeep subscription at any point in time. iKeep must be given 1 month’s notice before cancelling the subscription and all work is finalised for handover. Upon cancellation, iKeep will immediately cancel your access and/or subscriptions with 3rd party providers.
As part of a mutual business relationship there are responsibilities for each party. In our relationship your responsibilities are:
- Provide all information in the time frames as requested. If queries/information is not provided within the advised timeframes, iKeep will be unable to fulfill its promise of monthly reconciled accounts, 2 weeks post month end. We will not be liable for any late lodgment penalties, fines or GIC incurred by the Australian Taxation Office if timeframes are not met due to outstanding queries.
- If you have feedback on our service, we expect you to send it without delay to firstname.lastname@example.org
Our organisation may from time to time use the services of third party contractors to perform some of the services we are engaged to perform for you. Each client in the Group hereby authorises us to disclose information relating to that client’s affairs to all such third party contractors as we may choose to engage to perform such work. Where we use the services of third party contractors, we are nevertheless responsible for the conduct and activities of those contractors and for the delivery of the services we are engaged to perform for you.
Where the client is a ‘company, trustee, trust or a super fund’, the directors and /or trustees of the client are personally responsible for the company’s, trustee’s, trust’s and /or super fund’s accounting fees in the case of a debt due and payable. By signing this document, the directors or trustees (“Guarantors”) agree to guarantee payment of all accounts payable by the client to iKeep. The Guarantors shall also indemnify us against all loss, damage, expense, costs, including legal costs and claims we may incur due to any default by the client in connection with this agreement or resulting from any default by the Guarantor under this document. We may take action against the Guarantor without taking action against the client and can treat the Guarantor as principal debtor. The Guarantor waives any rights it has as surety.
Quality Assurance Program
We ensure a high level of data integrity and quality assurance program, designed by Institute of Public Accountants (IPA).
Our service is a 3 tiered Quality Assurance process to ensure accuracy and verified accounts.
Term of Engagement
This letter will serve as an ongoing outline of our business relationship unless there is a change in service requirements of your accounting needs.
Fixed Price Arrangement
Whilst in a perfect world we would like to keep our fees fixed for a long term, the fact is that a number of variables affect our business costs and the costs of the services we provide to your business. Due to these variable inputs our fixed price arrangements are reviewed in the 12th month and may be revised taking into account, but not limited to, the following:
- Any increases in software costs
- Any changes in your circumstances or services required
- A review of the work performed and a comparison to the initial budgets
- A review of our labour and other costs in delivering these services to you
Should the number of monthly transactions deem that you will in a higher SBO subscription package, we will advise you immediately. Our pricing will be charged accordingly.