For most firms, Letters of Engagement take a lot of time to produce, to keep updated and to ensure they're full compliant.
GoProposal centralises and automates this task so you never have to worry about it again. If you already have them to hand, this process should be easy and just remember, once it’s done, it’s done….. forever. Invest an hour now to save many hours every month.
STEP 1 - Gather your Letters of Engagements
The first thing is collate your Letters of Engagements ready to copy and paste into GoProposal. We break our LoEs down into the following sections:
- Service Schedules (these correspond to your services)
- Terms & Conditions
- Confirmation Statement
STEP 2 - Copy and Paste into GoProposal [20 mins]
Once you have your Letter of Engagement content, copy and paste your first one into GoProposal. We’ve added sample content in there already for you, so you can see exactly how it all fits together. Watch this short video to understand where everything goes.
TOP TIP: You can automatically merge content into your LoEs such as your client’s contact details, team details, person responsible, principal in charge, fees, dates and entities. Just use the merge fields after you’ve copied and pasted your content in there.
STEP 3 - Add Your Different Templates
Add the different templates for the different entities you serve such as Sole Traders, Limited Companies and Partnerships.
STEP 4 - Add your service schedules [15 mins]
Copy and paste any specific service schedules into the corresponding line item, so they will be automatically merged into your Letter of Engagement if selected. You might not have any or only have them for certain services.
STEP 5 - Set the Confirmation Statements [10 mins]
Set up your confirmation statements which complete your Letters of Engagement. Again we’ve added two samples for you, one for if the LoE needs signing, and one if it doesn’t.
STEP 6 - Create a Full Set of Tests [10 mins]
You now want to review your Letters of Engagement. For this, produce a proposal which contains every service. This will ensure that all the relevant Service Schedules are pulled through, giving you a complete Letter of Engagement. Duplicate this proposal and select a different LoE template each time so you have a full set to review.
STEP 7 - Approve your Letters of Engagement [1 min]
If you've completed all of these steps correctly and your Letters of Engagement were complete initially, then you will be good to go. But it's important that they are accurate, so we always encourage you to have them reviewed by whoever's responsible for them within your firm. Once you’re happy with them, pressing the approve button at the top of the page takes 1 minute.