Training Setup & Advisory Services Engagement Letter
Last Updated: 01/01/2024
This Engagement Letter (“Engagement Letter”) is made and entered into by and between FFC ADVISORY GROUP LLC (“Company”) and you (the “Client” or “you”) as of the date this Engagement Letter is executed or otherwise entered into by you by the terms herein (the “Effective Date”). This Engagement Letter is incorporated into the Terms of Service Agreement available at ffcadvisors.com\legal-stuff (the “Agreement”). Capitalized terms used herein, but undefined will have the meaning given to such terms in the Agreement.
BY REGISTERING FOR, USING, AND/OR RECEIVING THE BOOKKEEPING TSA SERVICES, OR BY CLICKING THE “I ACCEPT” OR SIMILAR BUTTON, YOU AGREE TO THE TERMS OF THIS ENGAGEMENT LETTER.
1. Term
The duties and obligations of both the Client and Company shall commence on the Effective Date and continue for one (1) year thereafter (the “Initial Term”). Thereafter, this Engagement Letter will automatically renew for successive one (1) year periods (each, a “Renewal Term”, and together with the Initial Term, the “Term”), unless either party provides at least thirty (30) days notice before the end of the Initial Term, or Renewal Term, as applicable, of its intent to terminate this Engagement Letter. Notwithstanding the foregoing, the Company may require you to consent to an updated Engagement Letter in a specified manner before each Renewal Term before any Bookkeeping TSA Services for the then applicable Renewal Term may be provided. This Engagement Letter may be terminated by either party by giving a thirty (30) day written notice by the Agreement. Furthermore, either party may terminate this Engagement Letter for cause in the event the other party breaches any material term and fails to cure such breach within seven (7) days of the non-breaching party’s notice thereof.
2. Scope
Subject to the terms and conditions of the Agreement, including the payment of applicable fees, the Company agrees to provide the following bookkeeping training, setup, and advice services during the Term (“Bookkeeping TSA Services”):
One-time: (1) Bookkeeping training and setup call to help you set up necessary tools (i.e Quickbooks Online and Gusto) for your business
Ongoing: (1) Year-round advice on your bookkeeping-related questions (2) Up to 4 times a year check to help you reconcile your books and close your books
3. Out of Scope
In no event will the Bookkeeping TSA Services include, without limitation:
- Bookkeeping
- Categorizing your accounts and expenses
- Reconciling your bank accounts and credit cards
- Closing your books or preparing your reports
- P&L, balance sheet, cash flow statements
- Quarterly Payroll or balance sheet reconciliation
- Creating a standard chart of accounts
- Sending or paying your invoices
- Calculating taxes
- Processing payroll payments
- Fulfilling orders
4. Client Obligations
Cooperation and Access to Information
The client acknowledges and agrees that the Company’s performance hereunder is conditioned upon the Client’s performance of its obligations herein and reasonable cooperation. The client agrees to provide the Company with any information and permissions reasonably requested by the Company to perform the Bookkeeping TSA Services. Without limitation, the Client will either (i) provide the Company with electronic transaction access to its bank accounts and credit card accounts, or (ii) provide the Company with its monthly statements related to its bank accounts and credit cards. Company acknowledges information is the confidential information of Client and will use such information and/or access solely to perform its obligations herein. In the event Client provides Company with electronic access to its bank accounts and/or credit card accounts, Client represents and warrants that it has all rights necessary to grant Company access to such accounts and that Company’s use of such accounts will not require Company to pay any fees.
Receipt Tracking Systems
The client acknowledges that it may also integrate receipt tracking systems that are compatible with QBO or other software.
Do Not Commingle Funds
The client acknowledges that the Company’s performance of its obligations herein, and any advice or information provided by the Company in connection with the Bookkeeping TSA Services is based upon the information provided and made available by the Client. The client further acknowledges that in the event the Client commingles its business accounts with its or its spouse’s accounts and expenses, the Company cannot accurately perform the Bookkeeping TSA Services. As such Client, agrees that it shall not commingle any business accounts or expenses with any of Client’s (or its spouse’s or other third party’s) accounts or expenses.
Accuracy of Information
You represent, warrant, and covenant to the Company that all information you provide to the Company in connection with the Bookkeeping TSA Services is accurate, complete, current, and true, and that if you discover that any such information is inaccurate, incomplete, out-of-date, or false, you will immediately notify Company in writing and promptly correct such information. You acknowledge and agree that you shall be solely responsible for, and shall hold the Company, its affiliates, and their respective officers, directors, employees, and contractors harmless from any costs, expenses (including reasonable attorneys’ fees), damages, judgments, liabilities, losses, penalties, and settlements arising from or related to your breach of the foregoing representation and warranty. Company shall not be responsible or liable to you or any other person or entity for any delays, penalties, or other consequences arising from your breach of the foregoing representation and warranty.
5. Treatment of Personal Information
The company will collect, store, process, and disclose any information you provide in connection with this Engagement Letter by the Company’s privacy policy available at ffcadvisors.com\legal-stuff .
6. Disclaimer
The Bookkeeping TSA Services will be provided solely concerning that business you have identified to the Company in connection with your Company account. The company will not perform an audit or review of your financials or any other related documents you may provide. All advice and information made available by the Company in connection with the Bookkeeping TSA Services are based on the information you provide to the Company, and the Bookkeeping TSA Services cannot be relied upon to discover errors, fraud, defalcations, or other irregularities, should any exist. We will not audit or otherwise verify the information you submit, although we may ask you for clarification of some of the information. The company is not responsible for any information or advice given based on any inaccurate, untrue, incomplete, or out-of-date information provided by you. You are solely responsible for your acts and omissions related to the Bookkeeping TSA Services.
7. No Guaranteed Results or Responses.
The company does not make any representation or warranty that the Bookkeeping TSA Services will be appropriate for your needs or suitable for your business. The company does not guarantee and expressly disclaims any particular results. SINCE THE BOOKKEEPING TSA SERVICES ARE BASED ON THE INFORMATION YOU PROVIDE, the Company does not warrant that the BOOKKEEPING TSA SERVICES will be timely, accurate, current, or complete. The company may make available third-party communication tools, such as Slack, to enable you to communicate with our bookkeepers, but the Company makes no representation or warranty that such tools are secure or that our bookkeepers will be able to respond to you promptly.
8. General
Client acknowledges and agrees that the Agreement ffcadvisors.com\legal-stuff is incorporated herein by reference, and that the terms thereof shall apply to the performance of each party’s obligations herein, including, without limitation, the sections relating to Limitation of Liability, Indemnification, and Arbitration.