Fixed Fee Package Terms

The start-up and small business bookkeeping fixed fee monthly support packages from On The Money Bookkeeping are specifically designed for growing businesses who want some additional support and guidance with their books/payroll requirements, but are still happy to manage day to day items like expenses and invoicing in-house.

How it works:

  • We provide you with some initial training materials.
  • Using the recommendations in those training materials, you will do your data entry of purchases, sales and reconcile your bank transactions, within 2 weeks of the previous month end
  • You attach all source documents (receipts, invoices, and other records) to those data entries
  • Within three (3) weeks of the end of each quarter (ie, within 3 weeks of 31 March, 30 June, 30 September and 31 December in each year), upload or email all bank statements for all bank accounts.
  • Using your data entry, we will provide the Services in accordance with your package.
  • To obtain maximum value from your service, we recommend you plan your communications with us. We record our time in 15 minute increments.  You should make the most of your included monthly telephone support allowances by asking multiple questions at once, (for example one e-mail or phone call twice a month taking 15 minutes each)
  • Monthly time allowances for included telephone and email support and rectification will re-set each month. Included allowances do not accumulate, but we may provide additional support in any given month at our discretion where the service has generally been under-utilised.
  • Provision of the services is subject to a Fair Use policy, which means that the monthly service will not include time which needs to be taken for work that exceeds what would normally or reasonably be required for work of a similar type or nature.  This may be due to a number of reasons including but not limited to: needing to spend extended periods explaining common bookkeeping concepts or providing additional training above the initial training materials; re-doing work based upon inaccurate or late data being provided; and work being complicated by factors within the client’s control.

What is not included:

The following services are not included in fixed fee monthly packages, and if required, will incur additional charges:

  • Any services which are not expressly included in the Package Services listed above.
  • Review of employee terminations are not included as part of quarterly payroll reconciliations or annual Payment Summaries. Employee terminations will need to be reviewed before Activity Statements or Payment Summaries are lodged due to the effect that they have on correct Activity Statement reporting and superannuation calculations. Additional charges will be incurred for reviewing and fixing terminations in accordance with our standard fees and charges.
  • Review of transactions prior to the month of sign-up or rectification of any errors before that date. Additional charges apply for any work undertaken to fix these transactions. Some errors before the sign-up date will need to be fixed before the first BAS can be lodged, as these may affect BAS reconciliations. This will be discussed with you before proceeding.
  • We will only lodge a BAS for transactions that we have reviewed. If the fixed fee package is started in the second or third month of a quarter, an additional charge for review of prior months in the quarter will apply as per the transaction volume and this will be quoted separately in writing.
  • Fixing and rectifying errors and discrepancies not caused by us, in connection with periodic reconciliations, in excess of what is considered Fair Use,
  • We will seek your agreement in writing before proceeding with any extra work.
  • Software licensing, and other third party costs are not included.
  • The Monthly Pricing for the fixed fee monthly packages is based on strict parameters of timely provision of data by you and Fair Use.
    This means:

    • Clients should keep personal and business transactions separate by using accounts for their intended purposes (i.e. business accounts for business transactions). Surcharges may be applied where a client has made considerable use of their personal bank account(s) for business or vice versa if this complicates the review process.
    • You must complete the reconciliation of all of data entry and bank transactions within 2 weeks of end of month. Surcharges apply to accounts that are late.
    • You should make sure that all information is provided at the appropriate time.  If attachments are missing from transactions that we are querying or reviewing, and we need to take extra time to contact you and obtain extra information, additional charges will apply at our standard hourly rates for the additional time taken to review these transactions.