Balanced Books

Authority is given to Balanced Books NZ to act on behalf of the client and given to obtain information for all tax types in order for them to undertake their duties until further notice.

This includes the authority to obtain information from Inland Revenue through all channels (including electronic).

I undertake to supply all information necessary to carry out such services and will be responsible for the accuracy and completeness of such information.

Your services are not intended to, and accordingly will not result in the expression by you of an opinion on the financial statements in so far as third parties are concerned, or in the fulfilling of any statutory audit requirements.

You are hereby authorised to communicate with my bankers, solicitors, finance companies and all government agencies including the Inland Revenue Department to obtain such information as you require in order to carry out the above assignments.

You are to represent me as my tax agent.

You are therefore authorised to request to receive correspondence related to tax types, to modify tax details, to prepare, submit and sign any taxation return on behalf of myself or any of my associated entities.

Financial Statements prepared by you will carry the following disclaimers: “A compilation is limited primarily to the collection, classification and summarisation of financial information supplied by the client. A compilation does not involve the verification of that information. We have not audited or reviewed the Financial Statements, and therefore neither we nor any of our employees accept any responsibility for the accuracy of the materials from which the Financial Statements have been prepared. Further, the Financial Statements have been prepared at the request of and for the purpose of the client only and neither we nor any of our employees accept any responsibility on any ground whatever, including liability in negligence, to any other person.”

SUPPLY OF SERVICE AGREEMENT

1. BACKGROUND

i. Thank you for selecting Balanced Books to be your Virtual Accountant. This Agreement is made between BALANCED BOOKS NZ (the "Company" [Virtual Accountant]) and the "Client".

ii. We offer remote and in-person financial administration, bookkeeping and tax support services for small businesses, consultants and entrepreneurs.

iii. The Company agrees to sell, and the Client agrees to purchase administrative and financial services (Services), and in consideration, the Client will pay the Company (Fees) on the terms of this Agreement.

FIRST SCHEDULE
1. Service: Summarised - as per your original 2shakes agreement.

Service Scope: Balanced Books NZ provides services as needed based on the agreed package. Services may include:

• Bookkeeping & Tax Compliance: GST returns, income tax returns, PAYE processing, and tax payment reminders.

• Financial Administration: Accounts processing, debtor invoicing, and Companies Office returns.

• Financial Reporting: Year-end accounts, management reports (upon request), and ACC levy reviews.

• Business Advisory: Annual review meetings and financial health checks.

• Support Services: Email and phone support (within reasonable scope), withholding tax calculations, and coding assistance.

Not all services are included in every package. Services outside the agreed scope can be requested at an additional cost.

2. Hours: BALANCED BOOKS NZ is generally available to provide Services during normal business hours. Monday – Friday, 9 am to 3 pm NZDT, excluding public holidays.

Please note that there may be periods throughout the year where availability is limited, such as during school holidays, public breaks or the Christmas/New Year shutdown period. Any changes to hours will be communicated in advance where possible.

3. Fees: The client will pay compensation to BALANCED BOOKS NZ based on rates outlined in the original engagement agreement (as issued via 2shakes) or as updated and confirmed in writing through subsequent email correspondence or series proposals [All quoted rates are exclusive of GST].

• Hourly Rate: $225 per hour (exclusive of GST), billed in 15-minute increments. A minimum charge of 1 hour applies.

• Fixed Monthly Packages: Invoiced at the beginning of each month and due within 7 days.

• One-off Work: Payment is required prior to the filing of any tax returns.

• Urgent Work: A 33.33% surcharge applies to work requested with a turnaround time of 48 hours or less.

• Unused prepaid hours/packages: These are non-refundable and do not roll over to the following month or period.

• Fee Adjustments: Fees may be reviewed and updated with a minimum of 30 days' written notice.

• Next scheduled price review: 1 April 2025.

4. Commencement date: Date this document is signed.

5. Termination date: On-going until further notice.

6. Location: The Service to be provided under this Agreement shall generally be performed at the Service Provider’s place of business. This is 31 Brandon Street, Alexandra.

7. Service specification: As per the Proposal document/email.

2. TERMS OF SERVICE

i. BALANCED BOOKS NZ always guarantees the highest level of confidentiality. Under no circumstances do we pass or sell Client information on to 3rd parties unless the law requires it.

ii. If required, we are happy to sign a confidentiality or non-disclosure agreement. [BALANCED BOOKS NZ has one available (please ask for the current price if you require Balanced Books NZ to supply one)]. All work will be kept on file for a period of 7 years. After this time, work will be deleted unless specifically instructed.

iii. The first up to one-hour consultation and quotation are free of charge and carried out in person or via phone, Zoom or email.

iv. All work carried out will be proofread, however, final proofreading of work prior to publishing lies with the Client. BALANCED BOOKS NZ accepts no liability for errors in any work provided.

v. For larger projects, time frames and deliverables will be negotiated with the Client.

vi. BALANCED BOOKS NZ retains the right to refuse work that we feel is illegal, immoral, or objectionable.

vii. BALANCED BOOKS NZ will handle and store client data in accordance with applicable data protection laws and regulations.

viii. Any disputes or complaints will be handled in accordance with the dispute resolution process outlined in this agreement.

3. LIABILITY

i. Under no circumstances will BALANCED BOOKS NZ be liable to the Client for any loss or damage, including and without limitation, indirect or consequential loss or damage that may arise from the service or work provided, or if time frames and deliverables are not met by BALANCED BOOKS NZ.

ii. To the maximum extent permitted by law, any and all liability and responsibility of BALANCED BOOKS NZ to you or any other person under this agreement is excluded regardless of whether such liability arises in contract, tort (including negligence), equity, breach of statutory duty or otherwise. BALANCED BOOKS NZ’s liability and responsibility are excluded in respect of any and all loss or damage, whether direct or indirect, including, without limitation, loss of profits, loss of data, loss of business or anticipated savings, general and special damages, and consequential and incidental loss.

iii. BALANCED BOOKS NZ shall not have any liability or responsibility to the Client for any loss which does not flow directly or naturally (i.e., in the ordinary course of things) from a breach of this agreement, including, in each case,e consequential loss of business or profits or other loss. BALANCED BOOKS NZ shall only be liable for losses (excluding loss of business or profits) which flow directly or naturally from a breach of this agreement up to a maximum of the amount paid by the Client for the Services of the six-week period preceding the date of the event giving rise to the claim under this agreement.

iv. The Client agrees to indemnify BALANCED BOOKS NZ against any claims arising from the services provided.

4. HEALTH AND SAFETY

i. Before commencing work on the Client’s premises, the Company must ensure that they and any employees of the Company, subcontractors that are commissioned to work “on-site” of the Client’s premises, is in conversant with the Client’s;

a) Emergency procedures (to be followed in the event of an emergency); and
b) Safety rules and procedures; and
c) Health and Safety Procedures.

ii. Both parties are responsible for ensuring a safe working environment.

5. PAYMENT TERMS

i. Unless otherwise agreed, the services of BALANCED BOOKS NZ will be charged at an agreed rate of $225 exclusive of GST per hour NZD and will be billed in [15] minute increments, with a minimum charge of [1 hour]. Fees may be amended from time to time as notified.

ii. For urgent work, the Client agrees a 33.33% surcharge will apply on the standard rate of the Company.

iii. Invoices for our ad-hoc/casual rate will be issued as discussed or on or after the last day of each month via email to the Client, and payment is due [7 days] from the date of the invoice unless another invoice time is specified prior to project commencement.

iv. Invoices for BALANCED BOOKS NZ’s monthly Virtual Assistant, Bookkeeping and Accounting packages will be issued in advance of work being undertaken. Invoices will be issued on the 1st of each month via email to the Client, and payment is due [7 days] from the date of the invoice unless another invoice time is specified. Work will not be undertaken until any outstanding invoices are paid.

v. BALANCED BOOKS NZ's Packages of blocked hours are valid for 1 month from the date of purchase. Any unused hours will NOT be rolled over to the next month.

vi. Any additional costs incurred (e.g., postage and courier fees, stationery, subscriptions, and printing) will be charged separately to our hourly rate and packages.

vii. Payments are to be made via bank transfer to the nominated bank account provided on the invoice or through the designated online payment portal as specified.

viii. Overdue invoices may result in interest being charged at the rate of 3% of the total outstanding monthly amount. Additionally, any costs incurred from engaging a debt collector to recover overdue amounts will be on-charged to the client.

ix. BALANCED BOOKS NZ’s ad-hoc hourly rate and packages are subject to increase. Clients will be notified in writing 30 days prior to any increase taking affect.

x. Unless otherwise stated, all monetary amounts are in New Zealand dollars.

xi. BALANCED BOOKS NZ is GST registered.

xii. If BALANCED BOOKS NZ’s GST status changes, you will be notified in writing.

xiii. BALANCED BOOKS NZ will endeavour to estimate disbursements accurately, which may include but not be limited to travel costs, printing costs and any other expenses incurred by the Company in completing the Services. Disbursements for work not Quoted will be approved by the Client prior to incurring the expense.

xiv. Any disputes regarding invoices must be raised within 7 days of receipt.

6. INTELLECTUAL PROPERTY

i. Intellectual Property means all intellectual property and proprietary rights (whether registered or unregistered) owned by BALANCED BOOKS NZ prior to performance of the Services, developed by BALANCED BOOKS NZ in performance of the Services or development by BALANCED BOOKS NZ outside of, or after, the performance of the Services, and without limitation includes business names, trade or service marks, any right to have information (including confidential information) kept confidential, patents, patent applications, drawings, discoveries, inventions, improvements, trade secrets, technical data, formulae, databases, know-how, logos, designs, design rights, copyright, manuals, protocols, procedures, manuscripts or documentary records, whether in print form or electronically and similar industrial or intellectual property rights.

ii. All BALANCED BOOKS NZ Intellectual Property will remain the property of BALANCED BOOKS NZ unless otherwise agreed with you in writing.

iii. BALANCED BOOKS NZ grants to the Client a worldwide, non-exclusive, royalty-free licence to use BALANCED BOOKS NZ Intellectual Property for the purpose agreed to between the Client and BALANCED BOOKS NZ to the extent that it is needed for the enjoyment and benefit of the Services. This licence is non-transferable and may not be sublicensed without prior consent.

iv. If this agreement is suspended or terminated by either party the Client shall cease to use the Supplier’s Intellectual Property.

7. SUSPENSION AND TERMINATION

i. BALANCED BOOKS NZ may suspend its obligation to supply the Services if BALANCED BOOKS NZ has notified the Client that the Client is in breach of this agreement, and the Client has failed to remedy that breach.

ii. Either BALANCED BOOKS NZ or the Client may terminate this agreement by providing written notice of not less than 7 working days to the other.

iii. Either party may terminate this agreement immediately by notice in writing, upon:

a) the other party committing any breach of this Agreement that is incapable of remedy;

b) the other party fails to remedy any breach of this agreement that is capable of remedy within 7 days of notice that the breach having been given by the non-defaulting party to the other party; and

c) the commencement of liquidation or the insolvency of the other party (except for the purposes of solvent amalgamation or reconstruction) or upon the appointment of a receiver, statutory manager, or trustee of the other party’s property.

iv. In the event of a project or work being cancelled/terminated by the Client, the Client agrees to pay for all work completed up to that point. No refunds will be given in the event of there being unused pre-paid monthly/annual VA hours or packages (i.e., editing, bookkeeping, accounting, and financial administration).

v. In the extraordinary event of work being cancelled/terminated by BALANCED BOOKS NZ, we reserve the right to decide - on a case-by-case basis - whether to provide the Client with a refund for unused pre-paid monthly/annual VA hours and/or packages, OR continue providing support until that month’s VA hours have been used up, or the package (editing, bookkeeping, accounting, and financial administration) has been completed.

vi. BALANCED BOOKS NZ reserves the right to immediately, and without warning, suspend and/or terminate work carried out on behalf of the Client if outstanding invoices remain unpaid after 30 days.

8. GENERAL

i. The Client shall not assign its rights under this agreement.

ii. The Company may hire or engage one or more subcontractors to perform any or all of its obligations under this Agreement. Provided, however, that the Company shall use the same degree of care in selecting any such subcontractor as it would if such company was being retained to provide similar services to the Company and such the Company shall in all cases remain primarily responsible for all of its obligations under this Agreement with respect to the scope of the Services. The Client agrees it will not directly or indirectly engage any of the Company’s subcontractors without the prior consent of the Company.

iii. This agreement constitutes the complete and exclusive statement of the agreement between the parties, superseding all proposals or prior agreements, oral or written, and all other communications between the parties relating to the subject matter of this agreement.

iv. No amendment to this agreement will be effective unless it is in writing, including email, signed or otherwise agreed to by both parties.

v. No exercise or failure to exercise or delay in exercising any right or remedy by a party shall constitute a waiver by that party of that or any other right or remedy available to it.

vi. Any provision of this agreement that is illegal, invalid, or unenforceable will be severed to the extent that it is illegal, invalid or unenforceable, with the remainder of the agreement continuing in full force.

vii. The agreements, obligations and warranties contained in this agreement shall not merge on completion of the transactions contemplated by it but shall remain in full force until satisfied.

viii. Services provided to all business Clients or for commercial purposes are expressly excluded from all provisions under the Consumer Guarantees Act 1993.

ix. This agreement may be executed in two or more counterparts, all of which together will be deemed to constitute one and the same agreement.

x. This agreement shall be governed by New Zealand law, and the parties submit to the non-exclusive jurisdiction of the courts of New Zealand.

xi. Any disputes arising under this agreement will be resolved through mediation or arbitration.

xii. Updates to Terms: Balanced Books NZ reserves the right to update these Terms of Engagement from time to time to reflect changes in services, pricing, or legal requirements. Clients will be notified of material changes, and the most current version will always be available at: https://www.balancedbooks.nz/terms+conditions

9. WARRANTY

i. Where the Client is a company, the person(s) signing this agreement on behalf of the Client personally warrant(s) that:

a) That the person or those persons have the power to enter into and have properly signed this agreement in accordance with the terms of the Companies Act 1993 and/or the Client’s constitution;
b) The Client will perform its obligations under this agreement.

10. FORCE MAJEURE

ii. Either party may suspend its obligations to perform this agreement if it is unable to perform as a direct result of war, riot, strike, natural or man-made disaster or other circumstances of a similar nature (Force Majeure Event). Any such suspension of performance must be limited to the period during which the Force Majeure Event continues.

iii. Where a party’s obligations have been suspended for a period of 30 days or more, the other party may immediately terminate this agreement by giving notice in writing to the other party.