Professional Documents
Culture Documents
of____________________by and between: D.VIVO ACCOUNTING SERVICES, with main business address at 114 San
Guillermo St., _______________as represented by its Managing Partner, DANHILSON O. VIVO and herein referred
to as the “DV”.
And
WITNESSETH THAT
WHEREAS, DV has offered accounting services and the CLIENT who is in need of such services accepts the same.
NOW THEREFORE, for any in consideration of the foregoing premises and the covenants hereunder set forth,
the parties hereby agree, as follows:
A. BASIC PROVISIONS
Our Responsibility
For a 3 month period starting from signing this engagement letter, we will provide you the following
services:
1. Monthly Financial Reporting (Income Statement, Balance Sheet and State of Cash Flows)
2. Provide consultation regarding monthly business operation
3. Accounts Receivables and Accounts Payable Processing
4. Monthly monitoring of Sales and Expenses
5. Monthly Bank Reconciliation
6. Eliminate Bank Loan Gradually
Our engagement is limited to the period and the accounting services indicated in this contract.
1. DV will designate one staff to report to your Office, from Monday to Thursday, schedule to be
finalized by Client. The staff will report to DV Accounting Office every Friday for weekly
processing of reports and reconciliation. This schedule (Day and time) may be altered by the
Client based on the most appropriate one.
2. This engagement does not include business management. If an amount appears unusual or out
of the ordinary, we will call it to your attention, but we do not take any responsibility in the
discovery of any errors, irregularities, or fraud.
3. This engagement will not audit or review your financial statements, or any other accounting
documents and information you provide, in accordance with generally accepted auditing
standards. Accordingly, we ask that you not in any manner refer to this as an audit or review.
4. We will rely on the accuracy and completeness of the documents and information you provide to
us. However, it may be necessary to ask you for clarification of some of the information you
provide, and we will inform you of any material errors, fraud or other illegal acts that come to
our attention, unless they are clearly inconsequential.
Client Responsibility
1. Responsible for adopting sound accounting policies, for maintaining an adequate and efficient
accounting system, for safeguarding assets, for authorizing transactions, for retaining supporting
documentation for those transactions, and for devising a system of internal controls that will,
among other things, help assure the preparation of proper financial statements. Furthermore,
you are responsible for management decisions and functions, for designating a competent
employee to oversee any of the services we provide, and for evaluating the adequacy and results
of those services.
2. Responsible for the design and implementation of programs and controls to prevent and detect
fraud, and for informing us about all known or suspected fraud affecting the Company involving
(a) management (b) employees who have significant roles in internal control, and (c) others
where the fraud could have a material effect on the financial statements.
3. You are also responsible for informing us of your knowledge of any allegations of fraud or
suspected fraud affecting the Company received in communications from employees, former
employees, regulators, or others.
4. In addition, you are responsible for identifying and ensuring that the entity complies with
applicable laws and regulations.
5. Responsible to provide us the following documents:
a) DTI/ SEC Registration
b) BIR 2303 / Certificate of Registration
c) Mayor's Permit
Retention Policy:
In conformity with the BIR requirements, we suggest that you adopt a 5 year policy to keep all the accounting
records and work papers related to the engagement. When records are returned, it is your responsibility to retain
and protect them for future use, potential examination by any government or regulatory agency, prospective
buyers of your business and acquiring business loans.
B. MISCELLANEOUS
a. No amendments or waiver of any provision of this Contract shall in any event be effective unless
the same shall be in writing and signed by the parties.
b. If any legal action arises for reason of breach or violation of this agreement, each party shall engage
the services of legal counsel.
c. The parties agree that any legal action or proceeding herein relating to this agreement shall be filed
in the proper courts of at the option of the complaining party.
C. OUR FEE POLICY:
Our professional fee for these accounting services will be FOURTY THOUSAND PESOS (PHP 40, 000.00), net of
applicable taxes per month. An advance payment equivalent to one monthly fee (FOURTY THOUSAND PESOS)
is due at the time of engagement. This will be subtracted to the final billing. This End to End Accounting
Services will be billed on a monthly basis. Transportation cost for monthly meeting will be billed separately
and must be shouldered by the client. Any additional accounting services requested will be billed separately.
This may include, but is not limited to, any compliance services including Annual FS Audit and Business
Management. All invoices are due and payable upon presentation. Billings become delinquent if not paid
within 15 days of the invoice date. If billings are past due in excess of 45 days, we will stop all work until your
account is brought current, or you withdraw from the engagement. The client acknowledges and agrees that
we are not required to continue work in the event of failure to pay on a timely basis for services rendered as
required by this engagement letter. The client further acknowledges and agrees that in the even we stop work
or withdraw from this engagement as a result of the client’s failure to pay on a timely basis for services
rendered as required by this engagement letter, we, DV , shall not be liable for any damages that occur as a
result of ceasing to render services.
D. Data Protection
D.VIVO Accounting Services recognize its responsibilities under the Republic Act No. 10173, also known as the
Data Privacy Act of 2012 with respect to the data they collect, record, organize, update, use, consolidate or
destruct from the client. The personal data obtained from the client through emails and print out documents
is stored within the firm’s system and will only be accessed by DVA and DVA authorized personnel.
Your professional information is collected and processed by DV Accounting Services acting as a data controller
providing the following responsibilities:
- To provide accounting services to you including but not limited to payroll accounting and processing,
maintenance of books of accounts, monthly and quarterly filing of tax returns, monthly financial reporting
- To manage our business operations and administer our client relationships, in order to perform our
obligations under our contract with you
We keep your data for the duration of our contractual relation. You may access your personal data or request
the erasure thereof. Moreover, you have a right to be informed, right to object, right to access, right to rectify,
and right to damages subject to the rules and regulations of DPA 2012.
IN WITNESS WHEREOF, the parties have signed this Subscription Agreement at the place and date mentioned
above.
For DV ACCOUNTING: For CLIENT:
ACKNOWLEDGMENT
I certify that on this date, before me, a Notary Public, duly authorized in the city named above to
take acknowledgments, personally appeared:
Notary Public
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