Terms of Engagement

By: Makes Cents  06-Dec-2011

Standard Terms of Engagement

We compile all financial information for all clients in accordance with our Standard Terms of Engagement.

A compilation is limited primarily to the collection, classification and summarisation of financial information supplied by the client. A compilation does not involve the verification of that information. We do not carry out any audits or reviews on financial reports, nor otherwise attempt to verify the accuracy or completeness of the information and therefore, neither we nor any of our employees accept any responsibility for the accuracy of the information from which the financial reports are prepared.

All financial reports are prepared at the request of and for the purpose of our client only and neither we nor any of our employees accept any responsibility on any ground whatsoever, including liability in negligence, to any other person.

I/We give Makes Cents Ltd and their employees permission as my Accountant to access any information held by the Inland Revenue Department of New Zealand or other organisations in order for them to undertake their duties as my Tax Agent to furnish GST, and all tax types. I understand MakesCents Ltd obtains information from IRD by phone, Fax and online. In accordance with the Privacy Act (1993) I authorise any persons or company to give information as may be required in response to credit inquires.

MakesCents Ltd has the right to charge interest on overdue accounts at the rate of 1.5% interest per month.
If the client defaults in payment of invoice when due, the client shall indemnify the seller from and against all cost including collection and legal cost or attempted collection of the defaulted amount calculated on a solicitor and own client basis.

Payment Options

Payment in full now – as per our Terms of Engagement.

Internet banking same day – this can be done at our office at time of sign off.

Automatic payment over three months maximum – case by case basis and to be agreed with by Make$ Cents Ltd.
FeeSmart – over six months or twelve months.  There is a one off fee of $50 administration charge and a flat interest rate of 10%.  A great option to help manage cashflow.

At Make$ Cents, we also offer a payment option towards your next end of year account.  This is in the form of a monthly AP to us prior to doing your accounts.

A small deposit may be required before any work commences.

The information in this article was current at 02 Dec 2011

Other products and services from Makes Cents


New Services

Benchmarking is the submission of your financial data anonymously and then it is measured against the median, the average, and the top and bottom 25% of firms in your industry who have also submitted their financial data. Benchmarking is the process of comparing one’s business performance metrics to industry bests and/or best practices from other similar industries.



LAQC CompaniesIf you have shares in a Qualifying Company or an LAQC company now then the only immediate effect will be the depreciation claim on any rental properties owned by the company which will affect your personal tax refunds as above.


Rental Property

Does it need work and money spent on it before renting it out.