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Running of Accounts Systems

For some clients, on completion of set-up, we do supervise the running of their accounts system. This is done by us providing a staff member who visits the client for a certain amount of time a certain number of days in a week.

The number/hours for these visits depends on the workload in the client’s business.

In this time, we will carry out the following

  • Post all the accounts transactions into the accounts package QuickBooks, which we already set up or help review the postings in case the client already has someone who does the posting.
  • Ensure cash received and banked is properly documented and tallies
  • Ensure the petty cash system is running smoothly
  • Deal with the tax issues like PAYE, VAT and NSSF.
  • Provide the Managers with the appropriate financial records (debtors listings), profit and loss accounts, Balance Sheet, bank balances, etc as required
  • Analyze the records and give you managerial tips based on these records
  • Assist in preparing the required financial records for audit purposes when due

For this to work, the client will need to appoint one of their staff, say the receptionist or an administrator, who we will be working with and who will be the one to carry out the day to day clerical work of the accounts department.

These will include

  • Handling the petty cash
  • Writing out cheque payment vouchers and the actual cheques (and possibly paying out the cheques)
  • Receiving the money paid in by your clients (making our receipts) and ensuring the money is banked
  • etc

The fee for this work ranges from 700,000 per month for a once a week visit to 1,500,000 for a three-times-a-week visit.

For some clients, we do run their accounts system meaning we take over the role of the accountant in their firm.

This is by providing a full-time staff member who works at the client’s premises under the same conditions as the rest of the client’s staff.

This means they work the same hours and days as the client’s staff. They are directly supervised by the clients Managers/Supervisors and obey all rules and regulations that the rest of the client’s staff are subjected to.

The advantage for the client is that this staff member gets support from the AR Limited team for all work-related issues as well as staff issues like day offs, so that the client is not bothered by cases of staff absence, etc.

The fee for the work where we have a permanent member of staff in your premises ranges from U.Shs 1.500,000 to 3,000,000 per month depending on the workload and other circumstances.