INVOICING POLICY
1. Policy Statement:
One Percent SA (Pty) Ltd takes pride in providing an efficient and effective service to all our clients. Part of this is ensuring that we accurately and efficiently invoice our clients, which helps our business to run smoothly while protecting the financial interests of all our clients.
2. Purpose of this Policy:
To clearly define the processes and procedures regarding Invoicing, as well as how invoices should be formatted and how to process payments. It also outlines payment methods accepted by the business.
3. Scope
This policy and procedure applies to all Contractors contracted to One Percent SA (Pty) Ltd regardless of contractual agreement or rank.
4. Policy Rules and Guidelines
4.1 Client Invoicing:
4.1.1. Invoicing where the debit order for payment is due on the 1st of the month; invoicing must be completed and sent for approval by no later than the 25th of the prior month.
4.1.2. Invoicing for the rest of the month must be done by the 3rd of every month or at the very latest by the 10th of the month.
4.1.3. An average of the last three months turnover must be used if the applicable monthly turnover is not yet available for invoicing purposes.
4.1.4. The due date on the invoice must be the debit order date as per the signed SLA received from the client
4.1.5. If your agreement is terminated for any reason, the company will not be indebted to the contractor for audits submitted but is only finalized after the contractor has left the company.
4.2. Payments:
4.2.1. All client invoices that are issued to clients must include your HERO number under the HERO column on the invoice. This is an internal tracking code used for reporting. All clients loaded must have the HERO number under the sales default.
4.2.2. No EFT payments will be accepted from clients without prior written approval from Management - debit orders only
4.2.3. Invoice amounts more than R10 000.00 must be paid by the client via the existing direct payment link which will be included on the invoice sent to the client. Debit orders are capped at
R 10 000.00 on the existing debit order collection system.
4.2.4. Individual tax clients must make payment via the existing direct payment system. Submission of tax returns are only done once payment has been received in full.
4.2.5. No work is to be carried out on ad hoc invoices until full payment has been received.
4.2.6. Clients paying monthly via EFT (prior authorisation received from management) must settle all outstanding invoices before any work is done on their account.
4.2.7. With regards to Debit Order clients the work can be kept up to date unless the debit order is returned/ unsuccessful. Then all work must be stopped until payment is received in full. An admin penalty fee of R172.50 (ex VAT) will be charged to the client's account should a debit order be returned unpaid.
5. Employee/Contractor Responsibilities
5.1. The Employee/Contractor must ensure that they read, understand and comply with this policy.
5.2. The Employee/Contractor must notify his/her line manager as soon as possible if he/she believes or suspects that a conflict with this policy has occurred, or may occur in the future
5.3. Any Employee/Contractor who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct.
5.4. The Company reserves the right to terminate our contractual relationship with our partners, clients and suppliers if they breach this policy
6. Policy Review:
6.1. This policy will be reviewed periodically to ensure its effectiveness and relevance to changing business needs and regulatory requirements.
CONSULTING FEE PAYMENT POLICY
1. Policy Statement:
One Percent SA (Pty) Ltd pays Consulting Fees based on the number of clients and the minimum amount invoiced. The rates of Consulting Fee, as well as the required profit margins, will be given to each new Contractor at time of hire. The company reserves the right to change Consulting Fee rates and profit margin requirements as needed to protect the financial integrity of the company or to serve any other legitimate business interest.
2. Purpose of this Policy:
To outline the rules and guidelines for how Consulting Fees are determined and paid to all Contractors.
3. Scope
This policy and procedure applies to all Contractors contracted to 1% Accounting & Auditing regardless of contractual agreement or rank.
4. Policy Rules and Guidelines
4.1. Consulting Fee Brackets:
4.1.1. A consulting fee of R15 000.00 will be payable to the Contractor in the first month. This all inclusive consulting fee of
R15 000.00 only, will only be payable to the Contractor if the Contractor has invoiced and achieved the minimum invoicing budget of R 37 500.00 (excl. VAT), the monies in respect of this invoicing has been cleared and received by the company, and related work completed. If the minimum invoicing budget of R37 500.00 (excl. VAT) is not achieved in the first month a maximum consulting fee payment of 40% (incl. VAT) on the total amount invoiced (excl. VAT) and the monies in respect of this invoicing has been cleared and received by the company, related work completed for that month will be applicable.
4.1.2. . After the first the month the following Consulting Fee Structure will be applicable:
One Percent Accounting Extended Consulting Fee: If You Invoice Over And Above R75 000.00 Monthly Invoicing The Below Percentage Scale Will Be Applicable:
4.1.3. Failure to achieve the minimum invoicing for a period of 2 (two) consecutive months will result in a 20% penalty being charged on the invoiced amounts and or contract termination.
4.1.4. After the first month your invoicing cannot be less than the target specified. If this is not maintained and/or reached for more than 2 (two) consecutive months it will result in contract termination as well as 40% Consulting Fee payable on invoices done.
4.1.5. Consulting Fee is paid at the end of the current month on invoices done and paid for in the previous month.
4.2. All invoicing schedules must comply with the following to qualify for the Consulting Fee brackets:
4.2.1. Only Invoices issued and paid in the month applicable is approved
4.2.2. Invoicing schedules must be sent to HR before or on the latest the 15th of the month. Failure to do so will result in a 10% penalty as well as payments being made to the Contractor on the 15th of the following month.
4.2.3. Ad Hoc invoicing will only be approved once the payment is received from the client, work is completed and documents uploaded on Xero Practice Manager.
4.2.4. Monthly invoicing will only be approved if the work is completed, documents uploaded and the client is tax compliant at SARS regarding submission of documents for which the client has paid.
4.2.5. CIPC fees paid are deductible from the monthly invoicing. Any discrepancy in the CIPC fees invoiced to clients and paid over to CIPC will be for the Contractor's account.
4.2.6. Reviewed and approved monthly invoicing schedule must be uploaded for approval on Xero Billing by the 25th of every month. Failure to do so will result in payments being made to the Contractor on the 15th of the following month.
4.3. Should a client that has been assigned to you be handed over to another Contractor, you are no longer eligible to receive fees for any pending audits and/or work that has been paid for but was not completed by you.
4.4. No work must be done for a client before payment has been received. Therefore, if a client does not pay and is handed over, you will not receive any Fees for work you have done for that client.
5. Employee/Contractor Responsibilities
5.1. The Employee/Contractor must ensure that they read, understand and comply with this policy.
5.2. The Employee/Contractor must notify his/her/her line manager as soon as possible if he/she believes or suspects that a conflict with this policy has occurred, or may occur in the future
5.3. Any Employee/Contractor who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct.
5.4. The Company reserves the right to terminate our contractual relationship with our partners, clients and suppliers if they breach this policy
6. Policy Review:
6.1. This policy will be reviewed periodically to ensure its effectiveness and relevance to changing business needs and regulatory requirements.
CLIENT ONBOARDING POLICY
1. Policy Statement:
1. One Percent SA (Pty) Ltd understands the importance of a client friendly Onboarding process that identifies the needs of the client and offers them with a tailor made solution in an efficient and effective manner.
2. Purpose of this Policy:
To highlight the process of integrating new clients into a business and establishing strong and productive working relationships with all new clients, as well as how to set the tone for future interactions by building trust and mutual understanding.
3. Scope
This policy and procedure applies to all Contractors contracted to One Percent SA (Pty) Ltd regardless of contractual agreement or rank.
4. Policy Rules and Guidelines
4.1. When receiving an SLA and meeting with a new client, the following process must be followed:
4.2. Documents needed before completing SLA job on XPM:
▪ Cor14.3
▪ Cor15.1
▪ SLA
▪ Share Certificate
▪ Details of each Director & Shareholder
▪ 3 months Bank Statements
4.3. Employees/Contractors are responsible for maintaining a high standard of professionalism and service delivery at all times.
4.4. Employees/Contractors are responsible for reading and understanding all SLA’s for their assigned clients so as to provide the agreed service.
5. Employee/Contractors Responsibilities
5.1. The Employee/Contractor must ensure that they read, understand and comply with this policy.
5.2. The Employee/Contractor must notifyhis/her/her line manager as soon as possible if he/she believes or suspects that a conflict with this policy has occurred, or may occur in the future
5.3. Any Employee/Contractor who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct.
5.4. The Company reserves the right to terminate our contractual relationship with our partners, clients and suppliers if they breach this policy.
6. Policy Review:
6.1. This policy will be reviewed periodically to ensure its effectiveness and relevance to changing business needs and regulatory requirements.
CLIENT REALLOCATION POLICY
1. Policy Statement:
At One Percent SA (Pty) Ltd we are committed to providing exceptional services to all of our clients. When a complaint is received from a client it is taken very seriously and swift action is taken in order to ensure that our clients receive the best professional services from One Percent (Pty) Ltd.
2. Purpose of this Policy:
To clearly define the processes and procedures that will be followed when a client requested to be allocated to another Accountant.
3. Scope
This policy and procedure applies to all employees/contractors regardless of contractual agreement or rank.
4. Policy Rules and Guideline
4.1. Identification of Complaints: Complaints related to poor service delivery can be received through various channels such as direct communication from clients, feedback forms, surveys, or through internal monitoring mechanisms.
4.2. Assessment of Complaints: Upon receiving complaints, the Compliance Manager will conduct a thorough assessment to determine the validity and severity of the complaints. This assessment may involve gathering additional information from the clients, reviewing service records, and consulting relevant stakeholders.
4.3. Engagement with Current Accountant:
4.3.1. If the complaints are found to be valid and indicative of significant service delivery issues, the Compliance Manager will consult with HR and they will engage with the current Accountant to address the concerns and provide an opportunity for improvement. This may include implementing corrective actions, providing additional training, or allocating additional resources as deemed necessary.
4.3.2. Following the engagement with the current Accountant, the Compliance Manager with the assistance of HR will closely monitor the implementation of improvement efforts to ensure that the identified issues are adequately addressed and that service delivery improves to an acceptable standard within a specified timeframe.
4.3.3. After the specified period for improvement efforts has elapsed, the Compliance Manager with the assistance of HR will reassess the service quality provided by the current Accountant. This reassessment will involve gathering feedback from clients and evaluating performance metrics to determine whether satisfactory improvements have been achieved.
4.3.4. If despite the improvement efforts, the service delivery remains below acceptable standards, the Compliance Manager with the assistance of HR will initiate the process of reallocating affected clients to a new Accountant. This decision will be made based on the assessment of ongoing complaints, service quality metrics, and the organisation's contractual obligations.
4.3.3. In the case where the client insists that they are not willing to allow for time for improvement, the Account will be informed of the decision of the client, and the client will be allocated to another Accountant.
4.4. Client Communication: Throughout the process, clear and transparent communication with affected clients is essential. Clients will be informed about the steps being taken to address their complaints and the expected timeline for resolution. Regular updates will be provided to keep clients informed of progress.
4.5. Transition Planning: Prior to reallocating clients to a new Accountant, the Compliance Manager with the assistance of HR will develop a detailed transition plan to ensure a smooth transfer of responsibilities. This will include but is not limited to, transferring client data and service agreements, providing training to the new Accountant, facilitating a comprehensive handover between the current Accountant and the new Accountant, and communicating the transition plan to affected clients.
4.6. Implementation of Reallocation: Once the transition plan is finalised, the Compliance Manager with the assistance of HR will proceed with reallocating affected clients to the new Accountant in accordance with contractual agreements and regulatory requirements. Clients will be notified of the change in service provider and provided with necessary support during the transition period.
4.7. Continuous Monitoring and Evaluation: Following the reallocation of clients, the Compliance Manager with the assistance of HR will continue to monitor the performance of the new contractor to ensure that service delivery meets the required standards. Feedback from clients will be solicited periodically, and any emerging issues will be addressed promptly to prevent recurrence of poor service delivery.
4.7.1 The current Accountant’s service delivery with regard to their existing clients will also be monitored and evaluated to ensure client satisfaction.
4.8. Client Cancellation: In the Event that a client cancels their SLA with the company due to proven Employee/Contractor negligence and/or poor service delivery and lack of professionalism, the employee/contractor will be liable to pay the company a maximum of twelve (12) months in consulting fees earned while servicing the client.
5. Employee/Contractor Responsibilities
5.1. The Employee/Contractor must ensure that they read, understand and comply with this policy.
5.2. The Employee/Contractor must notify his/her line manager as soon as possible if he/she believes or suspects that a conflict with this policy has occurred, or may occur in the future
5.3. Any employee/contractor who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct.
5.4. The Company reserves the right to terminate our contractual relationship with our partners, clients and suppliers if they breach this policy.
6. Policy Review:
6.1. This policy will be reviewed periodically to ensure its effectiveness and relevance to changing business needs and regulatory requirements.
SERVICE DELIVERY AND PROFESSIONALISM POLICY
1. Policy Statement:
At One Percent SA (Pty) Ltd, we are committed to delivering exceptional service to our all existing and potential clients while upholding the highest standards of professionalism. We understand that good service delivery and professionalism are critical, as they ensure customer satisfaction, leading to repeat business and positive word-of-mouth. Professionalism also contributes to a strong brand reputation and competitive advantage. By prioritizing professionalism and good service delivery, One Percent SA (Pty) Ltd strives to foster customer loyalty, comply with legal and ethical standards, and avoid potential liabilities, through effective communication, collaboration and continuous improvement.
2. Purpose of this Policy:
2.1. To outline the principles and guidelines that govern our interactions with all existing and potential and our approach to delivering services.
2.2. This Policy reflects our commitment to delivering exceptional service to our all existing and potential while upholding the highest standards of professionalism. By adhering to the principles outlined in this policy, we aim to build and maintain strong relationships with all existing and potential and contribute to the success of our organization.
3. Scope
This policy and procedure applies to all employees/contractors regardless of contractual agreement or rank.
4. Policy Rules and Guideline
4.1. Service Excellence
4.1.1. We strive to exceed the expectations of all existing and potential by providing high-quality services that meet their needs and requirements.
4.1.2. Our employees/contractors are trained to deliver service with courtesy, respect, and efficiency at all times.
4.2. Responsiveness
4.2.1. We are committed to being responsive to the inquiries, concerns, and feedback to all existing and potential in a timely manner, with a 48 hr turnaround time.
4.2.2. All inquiries and concerns will be addressed promptly and professionally.
4.3. Communication
4.3.1. We maintain open and transparent communication with all existing and potential clients throughout the service delivery process.
4.3.2. Clear and accurate information will be provided to all existing and potential clients regarding our services, processes, and timelines.
4.3.3. The Company uses an App for all telephonic correspondence with all existing and potential clients. Under no circumstances should an employee/contractor use their personal contact details to contact existing or potential clients; this includes but is not limited to all WhatsApp correspondence.
4.3.4. All communication with all existing and potential clients is required to take place over email or telephonically over the App. The Compliance Manager is required to be copied in on all emails with all existing and potential clients
(compliance@onepercentaccounting.co.za).
4.4. Professional Conduct
4.4.1. Our employees/contractors are expected to conduct themselves with professionalism, integrity, and honesty in all interactions with all existing and potential clients.
4.4.2. We maintain confidentiality regarding all existing and potential client information and adhere to all relevant privacy laws and regulations.
4.5. Problem Resolution
4.5.1. In the event of a service-related issue or complaint, we are committed to resolving the issue promptly and satisfactorily.
4.5.2. All existing and potential client feedback is valued, and we use it to continuously improve our services and processes.
4.6. Continuous Improvement
4.6.1. We regularly review and evaluate our service delivery processes to identify areas for improvement.
4.6.2. Training and development opportunities are provided to employees/contractors to enhance their skills and knowledge, ensuring ongoing improvement in service delivery.
4.7. Compliance
4.7.1. We comply with all relevant laws, regulations, and industry standards governing our services.
4.7.2. Our service delivery processes are designed to promote fairness, equality, and diversity.
4.7.3. The Employee/Contractor is required to schedule monthly meetings with each of their clients to discuss financials, reports, as well as address any queries or concerns their clients may have.
4.7.4. The Employee/Contractor is required to schedule quarterly meetings with each of their clients and the Compliance Manager to discuss financials, reports, tax planning, as well as address any queries or concerns their clients may have.
4.7.6. All SARS communication is required to be sent to all clients on a monthly basis, and is required to include monies due, as well as whether or not the client is tax compliant or if there are any outstanding returns.
4.7.8. It is imperative that all Employees/Contractors understand, have knowledge of and are kept up to date on all terms and conditions as set out in their Client's Service Level Agreement.
5. Employee/Contractor Responsibilities
5.1. The Employee/Contractor is required to ensure that they read, understand and comply with this policy.
5.2. The Employee/Contractor is required to notify his/her line manager as soon as possible if he/she believes or suspects that a conflict with this policy has occurred, or may occur in the future
5.3. Any employee/contractor who breaches this policy will face disciplinary action, which could result in dismissal for gross misconduct.
5.4. The Company reserves the right to terminate our contractual relationship with our partners, clients and suppliers if they breach this policy.
6. Policy Review:
6.1. This policy will be reviewed periodically to ensure its effectiveness and relevance to changing business needs and regulatory requirements.
