Letter of Understanding
Terms, Responsibilities, and Limitations of Service
This standard Kallas Restaurant Accounting letter of understanding, also known as a client engagement letter, stipulates the terms, responsibilities, and limitations of all services that Kallas Corporation provides, including but not limited to:
- bookkeeping services,
- payroll services,
- business tax services,
- personal tax services,
- UIA service, and
- TPS service
Kallas agrees to provide client professional accounting services as well as access to certain intellectual resources for a fixed minimum monthly fee plus additional fees, if applicable.
The intellectual resources provided by Kallas include decades of accumulated specialized knowledge of the restaurant/bar industry, tax law, accounting, and business management as well as specialized proprietary procedures, methods, and programs.
Your professional accounting services will include custom, labor-intensive tax, and accounting work done monthly and annually by trained accounting professionals.
>>Review Engagement Document
How We Bill For Our Professional Services
Your invoice for Kallas services will come to you on or about the 25th of each month for the work done or be done for that month. You are expected to pay each invoice upon receipt. Any amounts outstanding after 30 days are charged interest at 1.5% per month (18% per annum). Owners personally guarantee all amounts due to Kallas Company.
Your monthly invoice will include the agreed-upon monthly amounts for the services you contracted for. This is your standard monthly fee.
Typical Non-Standard Services You May Be Billed For
Whether you use the payroll, bookkeeping, or year-end tax service, Kallas Restaurant Accounting endeavors to provide the best possible service to restaurant and bar owners at competitive rates.
You pay one low standard monthly fee which includes all normal, recurring, and standard services.
For most clients, the standard monthly fee is all you ever need to pay.
There are times, however, when extra fees are charged for extra services with or without notice.