General Scope

Dear Esteemed Customers,
Thank you for choosing to work with us. We are a team of dedicated bookkeeping and accounting experts, ready to ensure all your accounting needs are professionally executed. We carry out our duties inline with on our client’s needs and relevant regulatory standards. However, we have detailed the general scope of our work in this article. Please read through carefully and note down your questions, observations, reservations, or other duties you would like to address, which is not included on this scope. Accounting services
The Accounting services we provide to you will be performed by us majorly remotely and on request in your organisation, if there are needs of physical meetings either for stock counting, internal audit or other matter or as the need may be. Our client has the options of hybrid or physical in house fulltime presence. Please request for a quote for the option outside virtual accounting services
A dedicated staff will be assigned to manage the operating and accounting activities of your business concern along with one supervisor.
We will be provided with / establish specific user access to your software, and other internal systems that you have in place to enable our processing and the identification of the work to be performed.
We detail below our understanding of the services to be rendered to your organisation:

Bookkeeping Services
Entering and/or verifying the entry of customer and supplier invoices into accounting software
Entering and/or verifying the entry of payments and receipts from bank using the bank statements
Emailing/communicating queries related to the accounts for the period
Ensuring the correct integration of different business systems into the accounting record, (for example point-of-sales systems or add-on solutions)
Reconciliation and/or verification of the of all bank, loan and credit card accounts
Reporting Balance Sheet, Profit, and , loss, other reports as required
Reporting outstanding debtors and creditors (if applicable)
Asset register maintenance
Building of charts of accounts, maintaining ledger balances and general journal computation

Payroll
Setup employees in payroll system (if applicable)
Ensure supporting documents are available to staffs e.g employment contracts (if applicable)
Monitor employee entitlements (remittance of pensions)
Lodge Tax payables and other declarations
Review, advise and lodge PAYE Withholding and other taxes

Accounting
Analysis and advice on business internal financial policies
Developing of finance policies - petty cash, expenses management, if applicable
Consulting/Training of staff in accounting software and other specialised roles (if applicable)
Budget planning
Tax health advisory
Inventory management (Additional charges apply)
Monthly financial reporting, analysis, forecasting and policy development
Updating historical data (Additional charges applicable)
Pricing and costing
Other technical advise

Management Report
At the end of every month, a management financial report containing the statement of financial performance, Statement of financial position, cash flow statement, current liabilities and variances between budgets, and previous trends will be forwarded to the company,

Tax compliance & Remittance
We will proceed in remitting PAYE taxes, pensions and filing relevant FIRS taxes. (Cheques/Funds for this purpose will be provided by the company)
At the end of the year, we will file the yearly annual returns with the State Internal Revenue
Begin the process of getting eTCC for staff : The company will provide us with the funds for business premises and development levy, we will remit same to the Lagos state government on its behalf (N5,000 and N100 per staff respectively)
The annual returns will be submitted to FIRS and applications for TCC done.
If there is any liability levied by the FIRS for defaults, the company will take up the provisions of funds for same


Consultation and book review
We will have a session to discuss the financial performance at the company’s convenient time

Other services
An audit will be done for the purpose of Tax clearance and annual filings with CAC. This is billed at NGN150,000 per year if the company chooses to use any of our auditors.The company also has the option of working with any auditor of their choice, we will be available for support.
Companies who are not looking at retainer-ship with us but wants a bookkeeping backlog update and compliance are billed separately and can choose what compliance process they need. e.g NSITF certificate, PENCOM certificate, BPR certificate, etc

If additional work is required beyond the items listed above, then we require it to be specifically outlined to us. We will confirm additional instructions in writing, (email), before the commencement of the work. If this work is outside our experience or competency we shall discuss with you how to ensure the work is performed appropriately including seeking assistance from a sub contractor who holds the expertise.


CLIENT RESPONSIBILITIES
Clients will provide access to the relevant business records. This may include paperwork /Software relating to the transactions for the month or quarter. This may include:

Ongoing access to the Business Software
Bank statements
Credit card statements
Receipts/invoices
Bank deposit book or relevant bank transfer information/Tokens (Where applicable)
Answers to queries as required
Customer related details
Staff details
Asset details
Investment/ loan contracts/Rent contracts

Please note:
Unless otherwise discussed and agreed it is your responsibility as the business owner for the maintenance and accuracy of business procedures and availability of records either for our processing or for verification and provision to authorities if required.
We may request source documents for some items and process transactions based on the information provided by you, which does not necessarily include all source documents.
It is a requirement that you must hold original copies of all relevant documentation e.g incorporation documents, partnership agreement, Tax receipts etc.
All relevant documentation and information required to allow us to prepare and produce financial reporting to comply with legislative requirements must be received 4 days prior to due lodgement dates. We will not be liable for any penalties if documentation and information has not been provided. Eg Checks for VAT and other taxes



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