Terms of Engagement

Our Fine Print – Prices are subject to change without prior notice. Formal quotations must be requested from us in order to ensure you have the correct cost based on your selected services.
Accounting Records and Services – It is SMB Accountants’ responsibility to maintain proper accounting records only when the monthly accounting services are selected. Such accounting records should adequately record all receipts, payments, sales, income, purchases, expenses, assets, liabilities and capital. It however remains the responsibility of the Client to ensure that all information and records provided to SMB Accountants are correct without any materially misstated or fraudulent information.

All services will be delivered with reasonable care, skill and due diligence.

SMB Accountants will not be liable if losses, surcharges, interest, penalties or additional tax due to acts, late submissions or omissions of any other person due to the provision to us of incomplete, misleading or false information or if they fail to act or provide us with the relevant information in time.

It is the Client of this engagements’ responsibility to keep track of the submission deadlines imposed by the respective institutions.

Transactions are considered to be a “per item” entry in the bookkeeping service, invoices, cashbooks or bank accounts where quoted. A single transaction might have to be captured in multiple locations and therefor will be counted per entry item, and not seen as only one transaction. Matching of Invoices will also be considered as a transaction entry for the maintenance of customer or supplier accounts. Items can also be quoted on time spent as an average of 50 transactions per hour.

Online Accounting Systems such as SageOne, FNB Instant Accounting, Xero, QuickBooks Online and EntityBox where transactions cannot be measured as “per item” entries are calculated on the time spent in hours for the assignment and capturing of transactions.

SMB Accountants will not be held liable for changes made in the Online Accounting Systems by the Client after the relevant information was processed or if these systems were offline or not accessible for any reason. Updating, fixing, processing or adjusting as a result of such errors will result in additional consultation hours with a cost imposed equal to the hourly rate.

Professional rules and statutory obligations – SMB Accountants will observe and act in accordance with the by-laws and ethical guidelines of the South African Institute of Tax (SAIT) and the South African Institute of Business Accountants (SAIBA) and will accept instructions to act on behalf of the Client on this basis.  SMB Accountants are certified professional business accountants and are not allowed to perform any Audits, Audit Assurance, Audit Reviews or any other Assurance type of engagements as prescribed by The International Regulatory Board of Auditors (IRBA), Code of Professional Conduct (CPC) and The Companies Act, Act no. 71 of 2008.

Should the client wish to overrule these by-laws and regulations, SMB Accountants will require that the instruction be in writing.

Work for other clients – SMB Accountants’ relationship with the Client will not prohibit or restrict SMB Accountants in any way from rendering services to any other client. Standard internal procedures are in place to ensure that confidential information that is supplied to SMB Accountants as a result of our appointment shall be treated as confidential.
Electronic communication – From time to time SMB Accountants may communicate with the Client electronically for newsletters, surveys, updates or any other communication as deemed relevant for research or communication purposes.

Any instruction or notice provided via Electronic communication will be deemed acceptable as prescribed by the Electronic Communications and Transactions Act, 2002 (ECTA).

The Client must be aware that no guarantee can be given as to the correctness and safety of electronically transferred data. Electronic information can be intercepted, lost, corrupted, negatively affected and unsafe to use.

Invoicing and Fees – All amounts will be in South African Rand as per the approved signed quotation or received communication.

All fees quoted will exclude any third party fees such as CIPC and/or SARS’ prescribed fees,interest,penalties and taxes due.

Single services are payable fully in advance for the selected service unless otherwise agreed with SMB Accountants.

Ad-Hoc and additional requested services will be invoiced without prior consent or approval from the client, unless the client requests SMB Accountants to first disclose the cost of the relevant services.

Per service transactions will also be invoiced or renewed based on the current SMB Accountants pricing or approved price-list.

Where the monthly bookkeeping transactions exceed the agreed limitation of transactions or time spent, the client will be invoiced immediately and automatically for all excess transactions or minutes spent. The Client should inform SMB Accountants when they need to up-scale the limits of our bookkeeping services, unless first suggested by SMB Accountants.

No refunds/credits will be provided once a selected service was accepted.

Any debt collection calls, emails and/or sms’s may be charged.

Should no arrangement be made for the account to be paid for 3 consecutive months, the engagement and account debt may be handed over to a third-party debt collection agency.

Should an arrears/owing account be handed over to any legal third party entity, the client will be liable for any legal costs that arise from this handover. The jurisdiction for legal proceedings will remain with SMB Accountant’s area: Pretoria, Gauteng, South Africa.

Penalties – SMB Accountants reserve the right to charge a penalty of 10% per month on the full outstanding amount in the case of late payments. Any subsequent month on which the account is still overdue, a reoccurring penalty charge will apply/accrue. Each invoice issued by SMB Accountants will display the due date for payment. Penalty charges will be limited to R300 per month and may not exceed this amount.
Monthly Service Engagement – SMB Accountants offer repayment of services on a monthly basis over a period not exceeding a 12 (twelve) calendar months on request, and is subject to approval. This service is referred to as “Monthly Service Engagement”.

Only the quoted services will be included in this Engagement, and all other services will be invoiced separately as they become due or actioned.

The Monthly Service Engagement will be repayable over the approved repayment term in advance, by dividing the last installment by (50%) fifty percent. The last installment will then be payable over the first (2) two installments of the engagement to move it to an in-advance engagement, unless otherwise agreed with SMB Accountants.

Cancellation of the Monthly Service Engagement will cease all services agreed upon and SMB Accountants will conclude the services in the cancellation month. No other services will be completed, and no refunds will be provided, even if the Monthly Service Engagement already covered payment of any of the future services.

Should there be a need to perform compulsory or dependent services not covered in the Monthly Service Engagement but required, SMB Accountants will proceed without requesting approval for the service and invoice for the services accordingly.

Engagement Renewal – The engagement will be effective for future years unless it is terminated, amended, cancelled or suspended. Where clients elected to engage on a per annum with SMB Accountants, the engagement will automatically be renewed for the subsequent financial year with a 10% increase on the existing engagement fees. SMB Accountants may renew the engagement based on the current pricing structure for the relevant services opposed to the increase.
Engagement Termination – Both parties may terminate this agreement by giving not less than 22 (twenty two) business days’ notice in writing to the other party except where the Client fail to operate with SMB Accountants or SMB Accountants have reason to believe that the Client have provided us or a third party with misleading information or where an unapproved accounting system is used, in which case SMB Accountants may terminate the agreement without a notice period.

SMB Accountants may terminate the engagement and cease acting/continuation of work if payment of any fees billed is unduly delayed or purposefully withheld. In agreement of both parties, the existing engagement can be terminated with a 10% cancellation fee, and a new engagement can be drafted. The 10% cancellation fee will automatically be added to the new engagement with the quotation. This 10% cancellation fee constitutes as an Administrative charge.

SMB Accountants will have the right to retention over all information, documentation, profiles, including profiles and access to any third party providers or entities of any nature from and for the Client until any owing amounts are settled in full.

No credits or refunds will be provided in the case where SMB Accountants are forced to terminate the engagement or where the Client cancels the engagement.

Any uncertain or unclear terms mentioned in this document must be resolved and noted before signing of an engagement.

The client accepts all of the above terms and conditions and will be bound by them lawfully.