Financial and Payroll Services

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Financial and Payroll Services

Columbia University, on behalf of the Earth Institute acting for the Millennium Development Goals (MDG) Centre for West and Central Africa (“the Client”) provides the following scope of work for financial and payroll services, and requests a bid from your office (“the service provider”) for this particular work. The services desired include:
• Accounting Services.
• Taxation Matters.
• Other Advisory Services.
The MDG Centre for West and Central Africa has been operating through a host, the World Agroforestry Centre (ICRAF), contracted through a service agreement by the Earth Institute, Columbia University, since its inception in 2006. Recently, ICRAF informed the Earth Institute that they would prefer to not extend this agreement beyond January, 2012. The Earth Institute is therefore working to establish a legally registered entity in Mali, affiliated with the Institute. The “vision” for this Centre is that all personnel and operations of the current ICRAF-hosted Centre would be transitioned to the new Centre. The Earth Institute has retained legal counsel to assist with the registration process, and is in the process of negotiating a host country agreement with the Government of Mali for this Centre.
The Earth Institute seeks the services of an accounting and payroll firm to help establish the administrative procedures and accounting systems for the new Centre, to manage and operate these procedures through the completion of transition, and to provide training on these systems to the Centre’s administrative staff. These procedures will be in accordance with local labor laws, accounting practices and accepted norms, and generally follow and support the principles and guidelines of Columbia University.
Accounting and related activities
Columbia University seeks book-keeping assistance using QuickBooks, on a monthly basis and until the Centre transition is completed, with the aim of providing information necessary to cater to the needs of the authorities in Mali. The services shall include:
Preparation of monthly financial statements, account reconciliations and bank account reconciliations
Preparation and maintenance of vouchers
Accounting of Remittances
Bank follow-up on routine accounting matters
Deposit of the tax deducted at source (TDS) on various payments, to the government of Mali as required under Malian Income Tax laws and regulations
Compilation of all tax forms that have to be issued, both for personnel and for the Centre
Preparation of annual financial statements and liaison with the Statutory Auditors for finalization of the same
Assist in training staff on accounting systems elaborated by the service provider
The following reports shall be generated:
Monthly ledgers, in the month succeeding to which they relate.
Monthly bank reconciliation statement
Annual financial statements
Information to be provided by the Client
Vouchers of Receipt and Payments
Bank Statements
Balance Confirmations
Time Schedule
Weekly Vouchers of Receipt/Payments would be delivered to the service provider on Monday of the next week. The service provider shall submit the monthly report on the 7th day of next month.
For services set out above, the service provider shall, in consultation with the Client representative, identify through a process of discussions, internal and external information needs of the office. The accounting procedures shall aim towards identifying and establishing all key controls and provide monthly reports as stated above, with a view to meeting the operational and functional needs.
Income Tax and Service Tax
The client seeks assistance in claiming income and service tax exemptions. The client has entered into negotiations with the Government of the Republic of Mali to establish a Host Country Agreement; this agreement would serve as the basis for the exemptions.
Income Tax Return
On the basis of the audited annual financial statements, the service provider shall, on or before the due date, file the annual Income Tax Returns of the client.
Tax Deducted at Source
The service provider shall prepare a checklist for TDS deduction and shall prepare and file the quarterly TDS returns (both salary and non salary) of the Client.
The service provider shall also render opinions and advice on all matters pertaining to the above as also assessments of tax returns.
Fringe Benefit Tax
The service provider shall compute the Fringe Benefit Tax liability which is to be discharged on a quarterly basis, and deposit the same with the Malian tax authorities.
Service Tax
The service provider shall assist the Centre in obtaining registration with the service tax authorities.
The service provider shall in consultation with Centre representatives identify service tax that needs to be paid on a quarterly basis.
The service provider shall also advise on the deposit the quarterly service tax of the Client, on or before the due date, i.e. 5th of the following month of each quarter except for March, where it has to be deposited by 31st March.
The service provider shall prepare and file the half yearly service tax return with the Central Excise authorities.
The service provider shall also assist the Client in the Service Tax assessments.
Time Schedule
The Client will provide details at least 15 days prior to the date of commencement of this assignment.
The service provider will provide various reports by the last day of each month.
The service provider will hand over all reports in a closed / sealed cover to designated authority of the Client.
The Client will transmit all the data to the service provider in a similar manner or via email.
The Client will give information in one lot every month to avoid delays.
Other Advisory Services
These shall include services and advice required from time to time to be provided on matters other than those set out in the foregoing paragraphs, such as, complying with statutory requirements under Malian Law.
Engagement Plan
The Client requests that the assignment shall be conducted under the overall guidance of a partner of the firm. In addition, competent qualified staff with adequate experience and technical expertise in the envisaged area of work shall be deployed for the execution of the assignment.
The partner handling the assignment shall be available to discuss matters on ‘need based’ periodicity. The service provider’s assigned staff shall visit the Client’s Mali office at periodic intervals to review; ensure presentation of information on predetermined frequency, and, to discuss matters relating to the scope of work that may be necessary.
Professional Fees
Request that the service provider provide a quote for services. Possible categories are indicated below:
One-time Fee:
Fee for assistance the development of an administration procedures guide and accounting manual
Setting up of Systems
Applying for an employer account or identification number and tax number, as required by Malian law
Registration with Tax authorities
Assist in training staff on accounting systems elaborated by the service provider
Preparation and Filing of the Income Tax Return (2011)
Fee for other regular services:
Accounting Services (per quarter)
Preparation and filing of 2012 Annual & Quarterly TDS Returns (Non Salary): (per quarter or per year)
Preparation and filing of Tax Returns
Tax Planning: Based on actual time taken
Fee for other Advisory Services:
For other services not covered in the proposal, fee based on the actual time spent by various levels of staff shall be charged.
Certified Accountant / Manager
Other staff
Fee Based on Quantum of Work for transition period estimated at 6 months
The fee mentioned above is based on the quantum of work expected at this stage, and on the assumption that the Client will assume responsibility to perform these services after 6 months. It is also assumed that the accounting and other services will be rendered from our office premises and no travel shall be required to the clients’ place with respect to the same. The fee may be revised in consultation with the management and shall also be subject to review annually on mutually agreeable terms.
Travelling and out of Pocket Expenses
It is specifically understood that all out of pocket expenses, including the filing fees payable to the authorities, service tax if applicable, and travelling expenses incurred during the course of the assignment shall be borne by the Client.
Invoices shall be raised as soon as possible after the end of each calendar month or completion of work and the service provider expects the same to be defrayed within a fortnight of receipt.
Termination of Services
The services can be terminated by giving a month’s notice in advance.
Closing date: December 5, 2011.
Informations :
Les offres devront parvenir en double enveloppe scellée adressée au Directeur du Centre OMD (A N’OUVRIR QU’EN SEANCE).

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