Fee Agreement - HOA Accounting Services
This agreement (Agreement) is entered into as of _______________________by and between NationwideAccounting.net, a California Corporation (Accountant) and__________________(Client) and shall become effective on___________________. These services shall apply to the following homeowner association ________________ (Association) consisting of ______ units/lots.
1. Scope of Services
Client agrees to hire Accountant to perform those services set forth below:
Preparation of monthly Financial Statements to include:
- Balance Sheet
- Delinquency Report
- Statement of Cash Receipts and Disbursements
- Check Register
- Bank Reconciliations
- Mailing or emailing monthly invoices for assessments to members of Association.
- Preparing and mailing checks for services provided to Association.
- Preparing and mailing Reserve Account transfer checks as requested.
- Preparing Year End Financial reports as required by law.
- Preparing 1099 forms and DE542 forms as required by law.
- All monthly Financial Statements and the Year End Financial Reports will be emailed to all board members and posted to AppFolio.
2. Compensation for Services
Accountant shall be compensated based upon the following schedule of fees:
Base monthly fee $________________.
Postage At cost
Copies (single sided) and inserts $.25 each
New property set up $________________.
New unit set up (After sale of unit) $50.00 each
Filing of forms with the California Secretary of State: $50.00 each
Escrow Demand Services (sales and refinance loans): Accountant shall charge the parties to any sale or loan escrow a standard/customary fee which shall be the same for all clients of Accountant.
Additional accounting fee for special assessments: $100.00 one time fee up to 50 units, $150.00 one time fee for 51-100 units, and $200.00 for 101 units or more. Accountant shall open a checking account in the name of the Association at a bank of Accountant's choice and shall charge a fee of $25.00 for any NSF checks received. Accountant shall pay all bank service fees.
If the accounting records turned over to Accountant are out of balance or otherwise include errors that must be corrected, Accountant will estimate the time and cost to make the needed adjusting entries and will promptly provide a written estimate to Client. Upon approval, Accountant will make the adjusting entries and will invoice Client.
3. Billing for Services
Accountant shall provide Client with a monthly invoice for services provided. Generally, invoices will be sent to Client during the first week of each calendar month covering the prior calendar month. Invoices are to be paid in full within 10 calendar days after the delivery of each invoice.
4. Discharge and Withdrawal
Client may discharge Accountant upon 60 days advance written notice. Such discharge does not relieve Client of the obligation to pay for any services provided. Accountant may withdraw from providing services for any reason upon 60 days advance written notice. In the event of discharge or withdrawal, Client shall reimburse Accountant for the costs of duplicating any file materials provided to Client.
If any suit is instituted concerning or arising out of this Agreement, each party shall pay all of such party's costs, including without limitation, the court costs and attorneys' fees incurred in each and every action, suit or proceeding, including any and all appeals or petitions therefrom. Any suit filed shall be in Los Angeles County. Venue shall be the court closest to Accountants' office.
I have read and understand the foregoing terms and agree to them. By signing this Agreement, I acknowledge receipt of a fully executed duplicate of this Agreement.
Cell Phone: _________________________________ Office: _________________________________
Address: 5737 Kanan Road, Suite 634
Agoura Hills, CA 91301
Nationwide Accounting Services