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GREENOAK ACCOUNTING LLC Terms & Conditions FOR SOLO BOOKKEEPING PACKAGES

 

NOTICE: GreenOak Accounting LLC does not require a signed Terms and Conditions. Your use of any services or resource provided by GreenOak Accounting LLC denotes your complete agreement with and acceptance of these Terms and Conditions of Service.

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(Last updated: 8/19/2024)

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1. Services and Fees

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GreenOak Accounting LLC (“Firm”) will provide Solo Bookkeeping services to the person and practice named in the Stripe subscription (“the Company”) starting on the date of first payment.

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​Company will be charged monthly without notice. Company has full control of the bookkeeping subscription and can cancel it at any time directly through Stripe. Failure to pay for our services or failed payments will result in our firm immediately stopping services without further notice.

​We are not responsible for work done prior to our start date. 

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​We will prepare your bookkeeping records in accordance with the appropriate income tax laws, from the information you furnish to us. We will use our judgment in resolving questions where the law is unclear, or where there are conflicts between interpretations of the law. Unless otherwise instructed by you, we will resolve such questions in your favor whenever possible.

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2. Package Pricing

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Your Solo Bookkeeping package includes a one-time Startup Fee and a monthly Payment Amount. You will be billed for the Monthly Payment amount on the same day each month, without notice. 

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​This package includes bookkeeping, reconciliation of up to 5 bank accounts and 1 credit card in QuickBooks Online, email support, access to Q&As, quarterly workshops and one mid-year recalculation of your quarterly estimated tax payments. Additional bank accounts and credit cards will be billed at $10/month per account. The Solo Bookkeeping package does not include accounting services such as forecasting, budgeting, compensation support although these topics may be discussed in workshops. This package does not include one-on-one meetings with an accountant. 

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We reserve the right to update our package pricing from time to time, we will send you notification of our new pricing before you are billed at the new rate.

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​The Company is opting for a Solo Bookkeeping package designed specifically for solo practitioners. By entering into this agreement, it is important to note that eligibility for this package is strictly conditional upon the Company not employing or contracting any clinicians beyond the owner, including contractors, employees, or interns. Should the Company decide to expand its team by hiring or contracting any such individuals, it will immediately forfeit its eligibility for the Solo Bookkeeping package, necessitating a reassessment of its bookkeeping and accounting needs to ensure compliance with the terms of service and to find a suitable package that accommodates its new business structure. Please note that a virtual assistant or billing service does not constitute a clinician and is permissible. 

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All payments are non-refundable, however should the Company no longer be eligible for the Solo Bookkeeping Package, a credit may be provided towards monthly accounting services for the group practice.  

 

3. Client Responsibility

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It is your responsibility to provide all the information necessary for us to complete your bookkeeping and financial reports. You should retain all the documents, receipts and canceled checks and other records to substantiate the items of income and deductible expenditures. These items and any other items that we obtain from you will be based on information provided by you and will be used without any further verification, audit or investigation on our part. We will guide you in gathering the necessary information. Any information we receive from you will be treated as confidential and will be handled in accordance with the terms set forth in these Terms & Conditions.

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GreenOak Accounting LLC is not responsible for errors in any financial statements, records and billings, or any other financial reports that we prepare for you if the financial data that you submitted to us and upon which it is based was inaccurate or incomplete.

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4. Starting our Bookkeeping Engagement

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The Company accepts full responsibility for scheduling a kick-off call and providing all necessary information required by GreenOak Accounting to commence the bookkeeping project. The Company is advised to schedule this call within one (1) week of service signup to ensure a smooth and timely project start.

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Failure by the Company to promptly schedule the kick-off call or provide the required project initiation information will impede the Firm’s ability to start the project. However, this does not relieve the Company of its obligation to pay for the service as agreed upon at signup. The Company acknowledges that billing commences from the date of signup, and there will be no refunds for services not commenced due to the Company's delay or failure to provide necessary information or schedule the initial call.

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The Company must have a business bank account(s) and must not commingle with personal transactions. Upon onboarding, if commingling is identified the Company will have a maximum of 30 days to discontinue commingling. 

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5. Client Review

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The Company has the final responsibility for its accounting records. By agreeing to these Terms, the Company agrees to review its reports, in detail, and alert the Firm of any changes to be made. We welcome any questions the Company may have concerning the reports the Firm has prepared.

Advice, suggestions, and opinions which are given informally, orally, or via email do not have the same force and effect of a formal written opinion and should not be relied upon to the same degree. The IRS says that any advice which you receive from us, either in writing or orally, cannot be used as a defense against the assessment of a penalty.

 

6. Tax Preparation

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Tax preparation is not included in the scope of the Solo Bookkeeping Package, but may be added for an additional fee and under a separate agreement. In order to be eligible for tax preparation with Firm, Company must have an active Bookkeeping Package subscription as of December 31 of the tax return year being prepared.  

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A separate tax engagement letter will need to be signed prior to December 31st of the current year. 

Tax preparation services are available on a first come, first serve basis determined by the execution date of the Tax engagement. Tax preparation services are not “guaranteed” until an agreement has been signed.  

 

7. Payment of Taxes

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The Company and its owner(s), as the taxpayer, remains responsible for the payment of all tax, penalties, and interest charges imposed by tax authorities. The Company is solely responsible for making timely Income Tax, Payroll Tax, Sales Tax and Quarterly Estimated Tax Payments.

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​Federal, state, and local tax authorities impose various penalties and interest charges for noncompliance with tax laws and regulations, including, failure to file or late filing of returns, and underpayment of taxes. Penalties may be due on any balances with your tax and/or payroll tax return(s). You acknowledge this and your responsibilities for payment of such penalties and any related interest. We rely on the accuracy and completeness of the information you provide to us in connection with the preparation of your tax returns. Failure to disclose or inadequate disclosure of income or tax positions may result in the imposition of penalties and interest charges.

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8. Disclaimer

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The Firm will make no audit or other verification of the data you submit. Our work is not audited however we will submit un-audited financial reports and statements for your records. We have not been requested to discover misrepresentations, fraud, illegal acts, or theft, and therefore, have not included any procedures designed or intended to discover such acts, and you agree we have no responsibility to do so.

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9. Additional Services

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If a question or issue requires additional research and analysis beyond the services agreed in this contract, we will let you know (including giving you a quote for the additional work) before we perform that additional work. Once we agree to the scope of the additional work, we will issue a separate agreement via our online proposal system, and will ask you to sign the new agreement before we commence the new work.

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​The following is a (non-exhaustive) list of the kind of work that is not included in this engagement and would require a separate engagement:

  • Legal Matters and Compliance: The provision of legal advice, representation, and related services falls outside the scope of this Agreement. (including registering with local and state municipalities)

  • Tax Disputes and Litigation: Services related to tax disputes, audits, or litigation are excluded from the scope of this Agreement.

  • Tax Preparation: Tax return preparation, amendments and calculation of quarterly estimated tax payments are not included in the scope of this Agreement.

  • Payroll Setup and Payroll Services: Payroll setup, including software setup and creation of federal and state withholding and unemployment accounts is not included in the scope of this Agreement. The Company is solely responsible for running payroll. 

  • Compensation Calculations and Planning: The Solo Bookkeeping package is intended for solo practitioners and does not include any advisory services regarding compensation, compensation planning, calculation of compensation or other compensation services.

  • Preparation of Foreign Account Disclosures and Corporate Transparency Act Filings: The preparation of disclosures for foreign accounts and filings required by the Corporate Transparency Act is not included in the scope of this contract.

  • Sales Tax: Services related to sales tax calculation, reporting, and compliance are not covered under this contract.

  • Audit and Assurance: This Agreement does not cover audit and assurance services required for regulatory compliance or public reporting.

  • Business Valuation: The valuation of businesses or assets for purposes other than standard accounting practices is not included.

  • Mergers and Acquisitions: Services related to mergers, acquisitions, or business restructuring are not included.

  • Accounts Payable (AP) and Accounts Receivable (AR) Services: This Agreement does not encompass Accounts Payable (AP) and Accounts Receivable (AR) management services.

  • HR Consulting and Payroll Services: Human resources consulting, payroll processing, benefit management and employment-related services are not included.

  • Medical Billing Services: Services related to medical billing, are not covered by this Agreement.

  • Contract and Vendor Relationship Management:  Communication with vendors, including contract negotiation, is not included. This includes banking relationship management. 

  • IT Services and Data Mining: Information technology consulting and software implementation outside the accounting function are excluded. We are unable to provide accounting or financial information beyond general inquiry for reporting periods prior to our engagement (including searching for transactions, data mining, etc)

  • Risk Management and Insurance Services: Any services related to risk assessment, insurance brokerage, or risk management are outside the scope of this Agreement.

  • Financial Planning: Comprehensive financial planning, retirement planning, and wealth management services are not part of this Agreement. This includes the preparation of Personal Financial Statements.

  • Investment Advisory Services: Any investment advice, financial planning, or asset management services are not covered by this Agreement.

  • Real Estate Services: Real estate consulting, property management, and related services are not within the terms of this Agreement.

  • Educational Services: Training, workshops, and educational programs are not part of this Agreement.

  • Any additional services not specifically provided by the Solo Bookkeeping Package.

  • Tax estimates for additional businesses or entities: Tax estimates will be provided for practice income (federal and home state only), excluding local taxes. Estimates for additional businesses, rentals, or entities, as well as practices operating in multiple states, are not covered by this Agreement.

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10. Responding to Outside Inquiries

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We may receive requests for information in our possession arising out of this engagement. The requests may come from governmental agencies, courts, other tribunals or other third parties. If permitted, we may notify you of any request for information prior to responding. In certain proceedings, an accountant-client privilege may exist. You agree that we are not under any obligation to assert any privilege to protect the release of information. You may, prior to our response to any request, initiate legal action to prevent or limit our response. Unless you promptly initiate such action after we notify you at your last known address, as reflected in our files, we will release the information requested.

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11. Government Inquiries

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This engagement does not include responding to inquiries by any governmental agency or tax authority. If you ask us to represent you with regards to a governmental audit or inquiry, we will confirm this in a separate engagement letter and delineate how additional charges for this service will be calculated.

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12. Other Inquiries

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In line with guidance from the American Institute of CPAs, we are limited in what types of information or assurances we can give to third parties concerning your financial matters. Accordingly, we will not respond to any request from banks, mortgage brokers or others for verification of any information reported on your tax return or accounting file.

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13. Privacy Policy

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In accordance with the Federal Trade Commission rule, Privacy of Consumer Financial Information, we are required to inform you of our policy regarding privacy of client information.

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14. Types of Nonpublic Personal Information We Collect

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We collect nonpublic personal information about you that is provided to us by you or obtained by us from third parties with your authorization.

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15. Parties to Whom We Disclose Information

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For current and former clients, we do not disclose any nonpublic personal information obtained in the course of our practice, except as required or permitted by law (and subject to the terms contained in this Agreement). Permitted disclosures include, for instance, providing information to our employees, and in limited situations, to unrelated third parties who need to know that information to assist us in providing services to you. In all such situations, we stress the confidential nature of information being shared.

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16. Protecting the Confidentiality and Security of Current and Former Clients' Information

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We retain records relating to professional services that we provide so that we are better able to assist you with your professional needs and, in some cases, to comply with professional guidelines. To guard your nonpublic personal information, we maintain physical, electronic and procedural safeguards that comply with our professional standards.

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17. Electronic Data Communication and Storage

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In the interest of facilitating our services to your company, we may send data over the Internet, store electronic data via computer software applications hosted remotely on the Internet, or allow access of data through third-party vendors' secured portals or clouds. Electronic data that is confidential to your company may be transmitted or stored using these methods. We may use third-party service providers to store or transmit this data, such as providers of tax return preparation software. In using these data communication and storage methods, our firm employs measures designed to maintain data security. We use reasonable efforts to keep such communications and data access secure in accordance with our obligations under applicable laws and professional standards, and we require all of our third-party vendors to do the same.

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You recognize and accept that we have no control over the unauthorized interception or breach of any communications or data once it has been sent or has been subject to unauthorized access, notwithstanding all reasonable security measures employed by us or our third-party vendors, and consent to our use of these electronic devices and applications during this engagement. You agree to hold us harmless for unauthorized access or security breaches of your data related to such third-party vendors.

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18. Term of Agreement and Termination

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This Agreement is a month-to-month agreement with no minimum term. The agreement will begin on the day the first payment is made and will continue until The Company cancels the subscription. The Company is solely responsible for canceling the subscription prior to the monthly payment date. Should assistance be required to cancel the subscription, a notice of termination must be received in writing a minimum of 5 business days prior to the next billing cycle. The cancellation of your subscription will take effect at the end of the billing period in which you cancel. 

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We reserve the right to withdraw from this engagement without rendering services for any reason if the client fails to comply with the terms of this Agreement, if the client disagrees with our recommendations regarding financial reporting presentation, or if we determine professional standards require our withdrawal for any other reason. 

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19. Refund and Dispute Policy

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Due to the nature of the products and services that we offer, including, but not limited to, the time that we will invest in your specific client file, we do not offer refunds for any of our products or services and you waive the right to dispute any charges made from working within this engagement.

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20. Outsourcing

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The firm may, from time to time, in its sole discretion and depending on the circumstances, use third-party service providers to serve your account. We may share confidential information about you with these service providers but remain committed to maintaining the confidentiality and security of your information.

Accordingly, we maintain internal policies, procedures and safeguards to protect the confidentiality of your personal information. In addition, we will secure confidentiality agreements with all service providers to maintain the confidentiality of your information, and we will take reasonable precautions to determine that they have appropriate procedures in place to prevent the unauthorized release of your confidential information to others.

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21. Mediation; Governing Law

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Should there be any disagreement or dispute of any kind between or among the parties with respect to this Agreement, you agree to resolve the dispute via mediation. The limit of time for making a claim arising from our services is one (1) year after the services subject to the dispute are rendered.

The parties irrevocably consent to have such mediation and litigation settled in the Commonwealth of Virginia. This Agreement shall be governed in all respects by the laws of the United States of America and by the laws of the Commonwealth of Virginia.

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If any provision herein is inoperative, the remainder of this agreement shall remain in full force and effect. This agreement is intended as the complete agreement.

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