MELI TIKENG GARUIS 682802284/698106219

ANG LTD ACCOUNTING REQUIREMENTS.

The objective of every business is to maximize profit, while providing the

customers with the easiest and most reliable access to the company services or
products at the lowest cost possible. Digitalisation appears to be one of the most
disruptive tools used by organisations to create a difference in the market. We
can’t talk about accounting without talking about digitalisation for now is the era
of digitalisation. Digitalisation has stepped in to simplify the accounting
processes, provide entrepreneurs with strategic and sustainable long-lasting
solutions in their business.

Bookkeeping is a very important aspect of every business. It helps the business

knows its performance as at a particular year, month, semester of quarter.
Bookkeeping helps to have trac t record of all expenses and revenue and what
financial implications they can have on the financial statements. So, it is very
important for every organisation to keep accounts.

Taxation is a compulsory levy on the other hand by the government on business

owners without counterpart with the objective of provide public goods. It is very
important for all businesses to pay their taxes.

Having a good accounting system for your business is a plus in having good
finance management and obviously an increase in profitability. Below, I will be
giving the requirements for you to have a long-lasting solution in your
organisations.

A. SOFTWARE

There will two soft ware that will be used to fully manage ANG LTD.

1. TOKEET.

Tokeet is a full-fledged property management system (PMS), well-equipped to

manage all your reservations and properties. Send invoices with one click and

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accept credit card payments directly. Tokeet centralizes all guest

communications, allows team coordination, tracks expense, runs reports, and
much more. Tokeet makes it easy to stay on top of your business whether you
have one rental or one thousand. More about Tokeet can be gotten at Tokeet.com.
The pricing is based on the number of guests houses you have. For example, if
your mange just one building, Tokeet will cost 100 euros a year. More about their
pricing can be gotten from their platform.

2. QUICKBOOKS.

QuickBooks is an accounting software package developed and marketed by

Intuit. First introduced in 1983, QuickBooks products are geared mainly toward
small and medium-sized businesses and offer on-premises. For now, we will use
on premise version which will be used just by the accountant. QuickBooks will
help in the following aspects.

➢ Track income & expenses

➢ Send custom invoices & quotes
➢ Track VAT
➢ Insights & reports
➢ Manage employees
➢ Multi-currency
➢ Recurring transactions
➢ Track inventory
➢ Track projects & locations
➢ Manage budgets.

QuickBooks on premise cost 250,000FCFA with a lifetime license. It is not

payable annually as Tokeet. So those are the two software ANG LTD will need
to properly run their business.

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B. TAXES.

AND LTD will declare taxes to two different tax organisations.

1. GENERAL DIRECTORATE OF TAXES.

ANG LTD will be responsible of paying advances on income tax at the rate of
5.5% monthly from their turnover, advances in salaries (CRTV, FNE, CFP, CFS,
IRRP,) calculated on their respective percentages on the salaries. Some portion
of these payments will be supported by the company and some by the employee.
ANG LTD will also be liable to a night lodging tax paid by each guest who lodge
in.

2. NATIONAL SOCIAL INSURANCE FUND(NSIF)

ANG LTD will be liable to pay and declare their cnps monthly. At least two
employees should be registered at the cnps. Employees who earn salaries above
62000 F / MONTH. These CNPS is made up of AF, RP, PVID. Some will be
supported by the employer and the employee.

To register for CNPS, a pre-matriculation will be done for the company and for
the various employees. Once we have the cnps number, declarations will be done
monthly. The fll process for CNPS registration would cost 35000F.

C. INTERNAL CONTROL PROCESSES.

➢ For proper internal control, a procedure manual or code of operation will
be created which will be used for control and verification in the company.
I can use 1month to establish a proper code of conduct and procedure
manual.
➢ A timesheet will be made available so employees could sign-in their start
time and closing time.
➢ A risk plan will be established for the company to easily identify risks
recurrent to the operation of the organisation and how it can be mitigated.

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➢ A double accounting will be created, one for taxation purposes and one for
real activity.
➢ More of the controls will come in as the activity is carried out.
D. MY ACTIVITY

As an accountant(outsourced), I will be responsible for:

➢ Creatin g all the control processes

➢ Follow the tax registration process (CNPS) and declare both taxes monthly
➢ Do monthly bookkeeping and come out with monthly financial statements
➢ Identify some of the risks and gives solution on how to mitigate them
➢ Train the staff on how to use these software
➢ Periodic control
➢ Fixed asset management
➢ Payroll management and accounting
➢ Etc

As to the cost of my services, I will leave it opened for now for a suggestion from
you. These activities will be done monthly and subject to a monthly fee.

As soon aa it is concluded, the activities will start immediately. Thanks sir

Kind Regards,

Meli Tikeng Garuis CPA, ACCA, MBA.