Terms and Conditions

Last updated: December 5, 2025

These Terms & Conditions (“Terms”) govern the use of the Square Penny website and the provision of our bookkeeping, compliance and virtual CFO services (“Services”). By accessing our website or engaging our Services, you agree to these Terms.

1. Who We Are

Square Penny (“we”, “our”, “us”) provides bookkeeping, compliance and financial advisory services to Australian businesses.
Our website is located at www.squarepenny.com.au.

2. Scope of Services

We offer bookkeeping, compliance and virtual CFO services, including but not limited to:

  • Bank reconciliation
  • Payroll processing
  • BAS/IAS preparation and lodgement
  • Financial reporting and analysis
  • Budgeting and forecasting
  • Cash flow management
  • Strategic financial advice
  • Systems review and optimisation

The exact scope will be outlined in your Service Proposal, Engagement Letter or Fixed Fee Agreement.

Any work outside the agreed scope may incur additional charges, which will be discussed and approved before commencement.

3. Client Responsibilities

To deliver accurate and timely services, clients must:

  • Provide complete and accurate information
  • Give access to required systems (e.g., Xero, payroll software)
  • Respond to requests for documentation or clarification
  • Notify us of any changes to business structure, circumstances or financial activity
  • Maintain responsibility for business decisions and compliance obligations

We are not responsible for delays or errors caused by incomplete, inaccurate or late information provided by the client.

4. Professional Standards

Liability is limited by a scheme approved under Professional Standards Legislation, where applicable.

We adhere to industry standards, internal quality controls and the requirements of our professional associations.

5. Fees, Billing & Payment Terms

Fees for our services are outlined in your Service Proposal or Engagement Letter.

Unless otherwise stated:

  • Monthly packages are billed in advance
  • Project or catch-up work may require upfront or milestone payments
  • Hourly rates apply to out-of-scope work and urgent tasks
  • All fees are exclusive of GST unless otherwise stated
  • Payment terms are typically 7 days from invoice date

Late payments may result in:

  • Pause or suspension of services
  • Interest charges in line with ACCC guidelines
  • Referral to debt collection services

You remain responsible for your statutory obligations even if services are paused due to non-payment.

6. Confidentiality

We keep all client information strictly confidential unless disclosure is:

  • Required by law
  • Required to perform the services
  • Authorised by the client

All staff and contractors are bound by confidentiality agreements and data security protocols.

7. Data Security & Access

We take reasonable measures to protect your information, including secure cloud storage, multi-factor authentication and limited access controls.

You authorise us to access systems required to perform our services, including:

  • Xero
  • Payroll platforms
  • ATO Online Services
  • Financial reporting tools

It is the client’s responsibility to manage and revoke access when engagements end.

8. Working With Third Parties

We frequently collaborate with external accountants, tax agents and advisors.
You authorise us to communicate with these parties as required to deliver efficient and accurate financial support.
We do not accept responsibility for actions or advice provided by third parties.

9. Limitations of Liability

To the maximum extent permitted by law:

  • We are not liable for loss arising from errors caused by incomplete, incorrect or delayed client information
  • We are not responsible for decisions made by the client based on the information provided
  • We make no guarantee of future financial performance
  • Our liability is capped in accordance with Professional Standards Legislation

Nothing in these Terms limits rights under Australian Consumer Law.

10. No Financial or Legal Advice

Information we provide is general in nature and based on the data supplied by the client.

Unless explicitly stated in writing:

  • We do not provide legal advice
  • We do not provide taxation agent services (unless separately engaged)
  • We do not act as the client’s ASIC agent

Virtual CFO insights are strategic and operational, not regulated financial product advice.

11. Intellectual Property

All content on our website, documents, templates and materials remain our intellectual property unless otherwise agreed.

Clients receive a licence to use deliverables for their own internal business purposes.

12. Website Use

By using our website, you agree not to:

  • Reproduce website content without permission
  • Interfere with website functionality
  • Attempt to access restricted areas or systems
  • Use the website for unlawful purposes

We may update or modify the website at any time.

13. Termination

Either party may terminate the engagement with written notice according to the terms outlined in the Engagement Letter.

We may terminate immediately if:

  • Fees remain unpaid
  • Information is withheld or misrepresented
  • There is a conflict of interest
  • The client behaves abusively or unlawfully

Outstanding fees remain payable upon termination.

14. Refunds

As our work involves professional time and expertise, refunds are generally not provided.
In exceptional cases, refunds may be offered at our discretion in alignment with Australian Consumer Law.

15. Changes to These Terms

We may update these Terms from time to time.
The latest version will always be available on our website.

Continued use of the website or services indicates acceptance of any changes.

16. Contact Us

For questions about these Terms, contact:

Square Penny
Email: info@squarepenny.com.au
Phone: 1300 472 412
Address: 51 High St, Glen Iris VIC 3146