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Accounting & Bookkeeping Service Level Agreement

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DOCX
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5
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Document Overview

An Accounting & Bookkeeping Service Level Agreement (SLA) is a formal contract between a Client (a company, NGO, government agency, or individual) and a Service Provider (external accounting firm, certified public accountant, or professional bookkeeper).

Here are the typical sections included:
1️. Parties to the Agreement
2️. Scope of Services
3️. Service Delivery Standards
4️. Client Responsibilities
5️. Service Provider Responsibilities
6️. Confidentiality Clause
7️. Fees and Payment Terms
8️. Performance Monitoring
9. Liability & Indemnity
10. Compliance & Standards
1️1. Term & Termination
1️2.Force Majeure
1️3. Dispute Resolution

The key reasons for having an SLA include:
1. Clearly define the exact services being provided (bookkeeping, tax filing, payroll, financial statements, etc.).
2. Establish specific turnaround times, report submission dates, tax filing deadlines, and communication expectations.
3. Ensure both parties comply with:
• Companies Act, 2015
• Income Tax Act (Cap 470)
• VAT Act
• ICPAK Code of Conduct
• IFRS Standards
4. Protect sensitive financial data and company information.
5. Clarify fees, billing cycles, and payment timelines upfront.
6. Define who is responsible if errors occur in tax filings, statutory submissions, or financial reporting.
7. Allow both parties to track service delivery quality and compliance with agreed performance indicators.
8. Prevent misunderstandings and legal disputes through clear documentation of expectations.

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