This acknowledgement and approval is being provided in connection with the bookkeeping services provided to {legalEntity} (“the Company”) for the calendar year ended {taxPeriod} by vbCPA, PLLC ("vbCPA").
I acknowledge that as requested by myself or another representative of {legalEntity}, vbCPA has prepared the {taxPeriod} Trial Balance (TB), supporting General Ledger (GL), Journal Entries (JE), and Adjusting Journal Entries (AJE). These reports have been prepared based on statements, documents, records, emails, text messages, other written communications, in person communications and also verbal communications provided either by myself or other representatives of {legalEntity}. I understand that vbCPA performed the following services in order to prepare our Trial Balance, General Ledger and other related reports:
- Recorded cash receipts/income from our monthly cash reports and/or bank deposits, statements
- Recorded cash disbursements/expenses
- Recorded payroll expenses
- Recorded any adjusting entries needed in records initially compiled and maintained by our company
- Reconciled bank statement(s) & credit card accounts as necessary
I certify that the source documents and supporting data provided to vbCPA are true, correct, and complete records of our accounting records for the tax period specified above. I understand and acknowledge that vbCPA utilized the information we provided as the representations of management and vbCPA did not audit, verify or review the financial statements or any other accounting documents and records we provided.
I understand that I am responsible for maintaining adequate documentation to substantiate the accuracy and completeness of my financial reports and business tax returns. I also understand that I should retain all documents that provide evidence and support for reported income, credits, and deductions on my financial reports and business returns, as required under applicable tax laws and regulations. I further understand that I am responsible for the adequacy of all information provided in such documents. I agree that I have such documentation and can produce it if necessary, to respond to any audit or inquiry by tax authorities. I agree to hold vbCPA harmless from any liability including but not limited to, additional tax, penalties, interest and professional fees resulting from the disallowance of tax deductions due to inadequate documentation.
I further acknowledge that I have been provided a copy of my Trial Balance, General Ledger, Adjusting Journal Entries and related reports to review and I have carefully reviewed the reports and individual accounts to make sure the information presented in the reports is accurate, complete, and correct. I understand these reports are ultimately my responsibility. As part of my review I have also identified any expenses that should be capitalized and provided vbCPA with the appropriate documents and records pertaining to those expenses and/or assets.
I approve the financial reports to be used to prepare {legalEntity}'s business tax returns year ended {taxPeriod}. I also acknowledge and accept responsiblity for the Trial Balance, General Ledger & Adjusting Journal Entries (AJEs) reports and also accept the limitations & my responsibilities as outlined in this letter.