Bookkeeping (1)

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Bookkeeping (1)

Question 1

A)

20 April 2013

Private and Confidential

Suchada Premkamonwichit

555 Resident Street

Dear Kelly

Letter of engagement

I offer my skill set and experience for the position as a Bookkeeper at Smart Bookkeeping in Sydney. This letter will give a brief summary of my experience and the details about the position.

Scope of work

Bookkeepers are useful in every company, no matter what size the company is. Book keeping is a requirement of the law and can be quite time consuming. Bookkeepers are becoming more and more useful to companies, as time is becoming less available.

Bookkeepers are required to:

  • Record financial transactions
  • Sorting Cash payments
  • Invoices – check for the validity and schedule of the invoices
  • Payment to suppliers
  • Meeting all employment on costs and obligations
  • Commence date

    My service will be available on the 1 May 2013.

    Hours of Work

  • My normal hours of work will be 30 hours per week. However I can also be given some reasonable additional hours.
  • Payroll

    I will be paid fortnightly. My rate is $45 per hour.

  • The Remuneration will be reviewed every years and it is possible that it can be increased.
  • Payment details

    Invoices are required to be paid within a fortnight of when the invoice was given.

  • If the invoice is not paid within 1 fortnight, compound interest will apply and the interest will increase until the full invoice is paid.
  • We also have the right to stop work if the payments are not being paid on time.
  • Termination of engagement

  • I may terminate this agreement on the grounds described in the enclosed terms of engagement (Under the heading “termination”). For the purposes of these terms we will assume that we have lose your confidence, in relation to the continuing conduct of the matter on your behalf, if you refuse to accept our considered advice in respect of an issue, which is essential to the conduct, or satisfactory settlement, of your matter.
  • Confidentiality

  • By agreeing with this letter of engagement, I will not, during the time of engagement or after, reveal any company confidential information such as Client lists, trade secrets, and product secrets. This is a requirement of the law and if I have been caught handing other people confidential information, there will be legal consequences.
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    Bookkeeping (1)
    Last updated: Feb 2024

    Page 1

    equirement of the law and if I have been caught handing other people confidential information, there will be legal consequences.

    Acknowledgement and Acceptance

    If you have any more requests or questions, you will be able to contact me on 0405060708.

    If you wish to accept the details which have been mentions in this letter of engagement, please sign this letter, with a date and return a photocopy of this letter to me by 25/4/13.

    Yours Sincerely,

    Suchada Premkamonwichit)

    I, ________________________, have read and understand all the information in this letter of engagement for employment, and accept all the terms and conditions set out in this letter.

    SIGNED: __________________________________________ DATE:___/____/____

    PRINT NAME: ________________________________________________________

    B)

    The benefits of providing this letter to clients are that both parties understand the terms and conditions and have hard copies of the agreements. This gives both parties a good opportunity of knowing what each party expects and what each party will do for each other. Without this letter of engagement, both parties do not know what to expect and both parties will not have the security that is needed to trust clients.

    One of the party members may act in a way that will be advantageous to them and disadvantageous to the other. Having this agreement, breaking it will result in a breakage of the law.

    Question 2

    A)

    Advantages

  • Access to the most exclusive resources online and printed – this allows for a in-depth researching experience. Some resources require member access and being a member of a Professional Association of Bookkeeping can grant access to these resources
  • Free or Discounted publications – Subscriptions may be available at a discounted price or even free for members of a Professional Association of Bookkeeping.
  • Greater education – Some Professional Associations of Bookkeeping offer vast education for members which can be a great advantage over companies without this membership.
  • Faster experience and greater support – The Professional Association of Bookkeeping can support and guide a company to become a more successful company through vast knowledge of industries and support from other members.
  • Disadvantages

  • Loyalty is demanded and by Professional Associations of Bookkeeping, and therefore it is difficult to choose the association that will be support your company.
  • B)

    Bookkeeping Institute of Australia (BIA) is a Fee for Service bookkeeping organisation which requires qualifications of at least a BIA Graduate with a Certificate IV in Bookkeeping awarded by BIA. There is no annual fee for this organisation.

    Australian Bookkeeping Network (ABN) is also…

    ...

    Bookkeeping (1)
    Last updated: Feb 2024

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