Service-Specific Terms

Bookkeeping Terms 

B1.0 WORK STANDARDS 

B1.1 Our standard bookkeeping practices satisfy IRD requirements at the same time as delivering the information you need to run your business. 

B1.2 Unless you advise us in writing that you would like more or less detail, we will: 

B1.2.1 Require and attach copies of receipts/invoices to all transactions over $50 in value. 

B1.2.1.1 For purchases under $50 that are not easily classified without a receipt, we will require a receipt regardless of value. 

B1.2.1.2 We recommend and encourage attaching a receipt to all transactions regardless of value, which is a requirement of the IRD. 

B1.2.1.3 We take no responsibility for the consequences of not attaching paperwork if you instruct us to proceed without paperwork. 

B1.2.2 Categorise expenses properly according to their purpose, ie not all to "Purchases" or "General". This means we may need to ask you for clarification from time to time. 

B1.2.3 Enter line items only when they need to be coded to different accounts, or identified separately as fixed assets. 

B1.2.4 Code delivery / freight charges and credit card surcharges to the same account as the associated purchase. 

B1.2.5 Ensure all bank accounts in Xero are fully and properly reconciled, including transfers between bank accounts in Xero. 

B1.2.6 Use proper contact names for all transactions. 

B1.2.7 Create bills for any purchase that is granted credit terms. 

B1.2.8 Check statements for all suppliers who have had bills created. 

B1.2.9 Use tracking and billable expenses where appropriate and/or requested. 

B1.3 If you would like us to take a different approach to your bookkeeping, or have special requirements, you will advise us in writing. 

B2.0 TIMEFRAMES 

B2.1 Day to day processing 

B2.1.1 We will empty the Hubdoc inbox and clear the bank reconciliation once each agreed processing day, to the extent paperwork has been submitted. 

B2.1.2 Where we are using ApprovalMax to enable you to approve your invoices, you will review/approve invoices within 48 hours of their being uploaded to ApprovalMax. 

B2.1.3 We will email you/suppliers queries or paperwork requests, and leave items being queried in the inbox or bank reconciliation. 

B2.1.4 We will process replies on the next agreed processing day. 

B2.2 Month end processing 

B2.2.1 We will expect all paperwork (including statements) for the previous month to be supplied by the 5th day of the following month. 

B2.2.2 We will check supplier statements on receipt, at the latest the 6th day, and request missing paperwork from you/suppliers by email. 

B2.2.3 We will cut off the month on the 10th day regardless. This means any invoices or paperwork not received by this time will be entered in the following month, once received. 

B2.2.4 We will produce reports, where required, by the 15th day of the month, provided the cut off on the 10th day was achieved. 

B2.3 Your responsibility to submit paperwork 

B2.3.1 We have prepared our service pricing on the assumption that you provide your receipts and other paperwork by 5pm on the day prior to our agreed processing day/s. 

B2.3.2 We will contact you for missing paperwork, with the expectation that you will provide that paperwork by 5pm on the day prior to our next agreed processing day. 

B2.3.3 Where paperwork has been requested, and we have received no response, or inadequate response, from you in relation to that request, we may charge a Paperwork Delay Surcharge of $250 +GST. 

B3.0 EXCLUSIONS 

B3.1 This service is for bookkeeping, not accounting. 

B3.2 Bookkeeping services are limited to the collection, classification and summation of financial information you supply. 

B3.3 We will not take active steps to identify weaknesses in your internal accounting system, errors, illegal acts or other irregularities, for example, fraud or non-compliance with laws and regulations. 

B3.4 We will not register fixed assets in Xero unless we are also your Accountant, or we have written instructions from your Accountant to do so. 

B3.5 The service fee assumes we will be the only people reconciling transactions in your bank accounts. Having others reconcile as well can result in extra work, and any time spent identifying and correcting transactions not reconciled by us will be considered out of scope. 

B4.0 TRANSACTION LEVELS 

B4.1 We set our pricing based on your transaction levels and composition (bills, transfers, spend /receive money, complexity) at the time we are engaged. 

B4.2 From time to time, we may review your transaction levels and composition to ensure the pricing is still appropriate. 

B4.3 Should your pricing require adjustment, we will give you 30 days notice of the proposed new rate. 

Payroll Processing Terms (only apply if Payroll is a service we are providing, check the service description in your proposal)

P1.0 ASSUMPTIONS 

P1.1 Employees who are paid by the hour will record their hours worked directly into the payroll or rostering software on a daily basis. 

P1.2 New employee information will be forwarded to us at least one working day prior to their start date, including: 

P1.2.1 Employment contract, schedules and attachments 

P1.2.2 Completed employee details form (supplied by us) 

P1.3 Leave applications will be made by employees directly in the payroll software, and approved by you accordingly in the payroll software. 

P2.0 TIMEFRAMES 

P2.1 On the day following the end of the pay period, we will review timesheet entries and seek approval from you. 

P2.2 You will approve the timesheets on the same working day as they are received. 

P2.3 We will finalise the pays and provide the payment batch to you in a format that can be imported to your online banking website, or we will setup the batch for your approval, as agreed. 

P2.4 We will lodge the Payday Filing return with IRD within the required timeframe. 

P3.0 EXCLUSIONS 

P3.1 This service is for payroll processing only. We are not qualified to provide professional employment law advice on human resources situations. 

P3.2 The service does not include any software subscription. 

P3.3 Detailed reconciliations of leave history, or correction of payroll calculations due to incorrect information provided are specifically excluded. 

P3.4 Correction of any issues that occurred prior to the commencement of this service. 

P3.5 One-off payments or exercises, such as team wide bonuses, team-wide salary increases, etc.