Engagement letter

The engagement letter is a written agreement between your accounting office and your client that outlines the scope of work to be performed, the responsibilities of each party, the expected time lines, and the fees associated with the services provided. The engagement letter is an important document as it helps to establish clear expectations between the client and the accounting firm. If any changes need to be made to the terms of the agreement, it is important to update the engagement letter to reflect the new terms.

You can incorporate a logo and select default PDF files to include by navigating to Settings - Agency settings - Engagement letter. Adding default PDF documents streamlines the creation of engagement letters and ensures all necessary documents are accounted for. Read more in Engagement letter settings.

In Visma Advisor you can create engagement letters for a customer under the tab Documentation - Engagement letter. All engagement letters that have been created and saved will be shown in the list. In the overview you can see the name of the engagement letter, when it was created, account manager, start and expiry date. You can see the status, if it is a Draft, Ready to sign or if it is Signed.

The status determines which actions can be taken.

  • Edit icon is enabled with the statuses Draft or Ready to sign.

  • Preview is enabled for engagement letters with the statuses Draft, Ready to sign and Signed.

  • Download is enabled with the statuses Ready to sign and Signed.

Note that a document with the status Signed can not be edited.
  1. Go to Customers .
  2. Select the customer you want to create an engagement letter for.
  3. Go to the tab Documentation - Engagement letter.
  4. Select New engagement letter.

A wizard will open.

Under 1. Parties and period of contract the information visible is automatically retrieved from the Agency settings and Customer information. The information is not editable here, so if you need to change anything, you have to go to the source to change.

  1. Enter additional contact information for the Account manager and Contact.

  2. Enter the Contract period, Start date, Expiry date (if applicable) and Terms of payment and select Next.

  3. Under 2. Tasks and prices, you make your choice of the tasks/activities to be included and the associated price details. Choose between adding price details Price per several tasks (package price) or PPrice per task/activity, or refer to Price as per attached document.

If there already are added tasks for the client, they will be visible. You can expand each task and here you enter who should be the owner of the tasks/activities, type of pricing, price and frequency. You can choose to delete tasks/activities for the engagement letter that are not up to date or if you don't want to show them and you can add new tasks/activities.

  • Price per several tasks — recommended if you work with fixed prices or when several tasks are included in the same package and the price is not given per task. In the Price field, you can enter the total price and specify the period it applies to, such as per month, quarter or year.

  • Price per task/activity — can be used for any price type.

  • Price as per attached document — can be used if you want to include a price list as a separate document instead. You add the document in this step and upload the document(s). The supported file type is pdf and the files can together be maximum 15 MB.

Please note that changes made here only affect the assignment letter. Any changes you wish to enter for the customers tasks should always be entered under Customer - Tasks.

  1. Select Next to enter the third step 3. Add information.

Here you can enter additional information, for example extra texts you wish to be included to the engagement letter. Under Upload files you can upload documents relevant for the engagement letter. Relevant documents, can for example be, your accounting office's Terms of agreement and a Data processing agreement. The supported file type is pdf and the files can together be maximum 15 MB.

  1. Select Next to go to 4. Preview engagement letter

Here you are able to see a preview of the engagement letter that will be created inclusive the attachments.

  1. Select Save as draft or Ready to sign.

The engagement letter is now visible in the overview and you can preview and print the agreement in order to send to the customer.

  1. Change the status to Signed when you have received the signed letter of assignment. You can now save the signed document for the customer by uploading the file to the Document archive.

When you have created an engagement letter that is ready for your customer to sign, you can manually upload the document and send it to the customer via Visma Sign. Go to the Visma Sign page to register or log in if you already are using the service.

Follow the instructions and when your customer has signed the agreement, you can upload the signed document for the customer in the Document archive.

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