Terms & Conditions

Who we are

Our website address is: https://thistlefernaccounting.co.nz.

Scope of Engagement

Bookkeeping/Accounting

  • Completion of posting of receipts and payments.
  • Bank Reconciliations
  • Processing of Payroll & PAYE returns. 
  • Setup and/or maintain accounting system
  • Lodgement of all GST Returns.
  • Produce monthly Financial Statements
  • Prepare Annual Financial Statements with relevant workpapers.  The financial statements will be prepared according to accepted accounting principles, which include Financial Reporting Standards.
  • A disclaimer of liability will be attached to any Financial Statements prepared.

Taxation:

  • Acting as Tax Agent 
  • Preparation and filing of income tax returns
  • Review tax assessments and advise of any tax payment obligations.
  • Review tax planning options

Authorisation to Obtain Information

The extent of the record keeping function performed by the client will vary depending on the engagement and will be agreed during the course of the appointment. It will be the client’s responsibility to ensure the completeness and accuracy of the records and information supplied and to provide explanations on any item questioned in the course of the engagement.  This is necessary to ensure the accuracy of the financial information compiled under this engagement, and you accept responsibility for any failure to supply us with all relevant records and information.

Client is responsible for the payment of all taxes including (but not limited to) income, GST, PAYE and FBT.

Client is ultimately responsible for the maintenance of accounting systems and internal controls for all the business entities, which includes keeping and maintaining of all required books of account and statutory records.

Authorisation to Obtain Information

The client authorises our firm to obtain any further information necessary for the completion of financial statements or income tax/gst returns from any third party that they have dealt with through the year.  Authority is provided to overcome the restrictions of the Privacy Act 1993. This will normally be used for obtaining information from financial and legal firms.

Tax Agent Authority

The client authorises our firm to act a tax agent in all dealings with the Inland Revenue Department (IRD) and obtain information from IRD in respect of income tax/gst and other tax matters, including filing of income tax/gst/other returns once all relevant information have been received and to have access to all tax types. This includes obtaining information via online services available on IRD’s website.    Our firm will not be liable for any penalties imposed by IRD as a result of the clients failing to supply complete and accurate information in a timely manner.

No Audit Conducted

Our firm is not being engaged to conduct a statutory audit of the financial records of any of your business entities and we will not express an auditor’s opinion as to the truth and fairness of the financial statements, and it is not intended that this engagement be relied upon to prevent or detect fraud and error and we wish to emphasise that responsibility for such prevention and detection must remain with your management.

Ownership of Documentation

The financial statements and any other documents that we are specifically engaged to prepare, together with any original documents given to us by you, shall be your property.  Any other documents brought into existence by us, including general working papers and draft documents will remain our property at all times. If our services are terminated, we shall be entitled to retain all documents that we have prepared or hold until payment in full of all outstanding fees.

Fee Arrangement

Fees are, unless otherwise arranged between us, due and payable within seven (7) calendar days of presentation of the invoice.  Our fees are subject to GST except where such supplies are made GST free.

Monthly fee arrangements reflect the ongoing nature of accounting and tax service provision and are not refundable if the engagement is terminated part way through a financial year.

All work completed not covered under a monthly fee arrangement is charged at an hourly rate and will be billed out weekly.

Statements will be sent at the end of the month for balances that remain unpaid.  Please note that delayed payments may attract late payment charges of 5% per month.  If payments remain unpaid for 3 months services can be suspended until payment is made or a payment plan is agreed.

If you have any questions or disputes regarding the fee please contact us immediately to ensure that any errors can be corrected and misunderstandings to not occur.

Any variation to this pricing arrangement can be mutually agreed through addendum. We are committed to delivering value for money.

Other

Please also note, we use Cloud Based storage systems (OneDrive) to maintain all client data, the physical location of the servers is not in our control, which means that data might be on one of the servers outside New Zealand. We use our best endeavours to maintain the security of client data.

STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS  

The engagement will be carried out in accordance with the scope and approach described in the accompanying Engagement Letter. It is our understanding that you agree that appropriate procedures relating to the bookkeeping described are sufficient for your purposes in connection with this engagement.

Thistle Fern Accounting Services (“TFAS”) maximum liability relating to services rendered under this engagement, regardless of form of action, whether in contract, negligence or otherwise, shall be limited to one fifth of the fees received for the section of the work done. In no event shall TFAS, its partners, agents or employees, be liable for consequential, special, incidental, indirect or punitive loss, damage, cost or expense, including without limitation, lost profits, opportunity costs, etc., whatsoever and howsoever caused, incurred, sustained or arising even if it has been advised of their possible existence. This provision shall survive the termination of this agreement.

The Client will indemnify and hold harmless TFAS, its partners, agents and employees from and against any claims, demands, loss, expense or liabilities that may result from any third party claims arising out of or relating to TFAS’s services under this Engagement Letter except to the extent finally determined to have resulted from the gross negligence or wilful misconduct of TFAS personnel. This provision shall survive the termination of this agreement.

TFAS shall treat as confidential and keep secret all information relating to the accounting infrastructure and transactions of the Client. The provisions of this clause shall survive termination of this agreement and shall subsist for a period of 1 year. The provisions of this clause will not be applicable to information that is or comes into public domain or information that was in the possession of TFAS prior to entering into this agreement or information that is required to be disclosed as required by law or information that comes into the possession of TFAS after the termination of this agreement.

Either party may, upon giving four weeks written notice (written notice includes emails sent from official email addresses provided in the Engagement Letter) identifying specifically the basis for such notice, terminate this arrangement for breach of a material term or condition of this arrangement, provided the breaching party shall not have cured such breach within the four weeks period. In the event of such termination, Client shall pay TFAS for all services rendered and expenses incurred by TFAS prior to the date of termination.

Client or other associated companies within its Group may not offer employment to any TFAS staff members or agents without the prior written approval of TFAS. Such approval will not normally be given.

Neither TFAS nor Client shall be liable for any delays or failures to perform due to causes beyond their control.

This is the complete agreement between TFAS and Client and supersedes all previous discussions and communications, if any, relating to the subject matter of this arrangement.