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Accounting for SMEs in Sierra Leone

Accountancy for small and medium-sized businesses

Hand your bookkeeping, payroll and tax filings to a team that does it every day, and spend your time running the business.

Prefer to talk? Call +232 73 253666 or message us on WhatsApp.

Why SMEs outsource their accounts

Most small and medium-sized businesses cannot justify a full finance team, but they still need accurate books, correct payroll and tax returns filed on time. Doing it in-house often means the owner or one busy member of staff fits it in around everything else, and things get missed.

Outsourcing to SLONEC gives you a finance function without the cost of building one. You keep control of the decisions; we keep the records straight.

Colleagues reviewing figures together on a laptop

What we do for SMEs

  • Bookkeeping and bank reconciliations.
  • Monthly or quarterly management accounts.
  • Payroll, payslips, PAYE and NASSIT.
  • GST, withholding tax and companies’ income tax returns.
  • Year-end accounts and audit support.
  • Budgets and cash flow forecasts.

Help with growth

As your business grows, the questions get bigger: whether you can afford to hire, how to price a contract, whether to borrow. Because we know your numbers, we can help you answer them, and our sister business, SLONEC Consultancy, can help with strategy and planning when you need it.

Who it's for

  • Owner-managed businesses, family firms and growing companies across Sierra Leone, in sectors including trading, hospitality, construction, agribusiness and services.

What you receive each month

  • Bookkeeping and bank reconciliations, done every month
  • Payroll, payslips and PAYE and NASSIT schedules
  • GST and withholding tax returns where they apply
  • A short management accounts pack: profit and loss, balance sheet and cash
  • A review call to go through the figures and anything that needs a decision
  • Year-end accounts and help with your auditor

What SMEs in Sierra Leone usually struggle with

Most small and medium-sized businesses we meet are good at what they sell and short of time for everything else. The same issues come up again and again: sales and expenses recorded in a notebook or a spreadsheet only one person understands, payroll worked out by hand, PAYE and NASSIT paid late, and tax returns filed in a hurry or not at all. When the NRA writes, or a bank asks for accounts to support a loan, the business has to rebuild its records under pressure.

We fix that with a routine that fits the size of the business. You send us your sales, purchases and bank statements in whatever form you keep them, we record and reconcile them, run the payroll and prepare the returns, and you get a short set of figures you can actually use. Because we keep the books, the returns match the accounts, and the year-end is a short job rather than a rescue.

Simple to start, clear all the way through

Scope and fees are agreed in writing before work starts.

1

Initial call

Initial call to understand your business and how your records are kept now.

2

Quote

Quote setting out the monthly and year-end work.

3

Set-up

Set-up of your records and payroll.

4

Regular routine

Regular routine with review meetings to go through the figures.

Frequently asked questions

How much does outsourced bookkeeping cost for an SME?

It depends on the number of transactions, staff on the payroll and returns you need. After a short call we send a fixed monthly quote in writing, so you know the cost before you agree.

We are behind with our records. Can you still help?

Yes. We first bring your records up to date and work out what is outstanding with the NRA and NASSIT, then move you on to a monthly routine. We tell you plainly what the catch-up involves before we start.

Do we need to change our accounting software?

Not necessarily. We can work with the system you use now. If your records are on paper or in spreadsheets, we can recommend a simple accounting package and help you move to it.

Can you run our payroll if we only have a few staff?

Yes. Payroll for a handful of staff still needs correct PAYE and NASSIT deductions and payslips. We run it every month and prepare the schedules you need to pay on time.

Will you help when the NRA raises a query?

Yes. Because we keep your books, we can pull together the records the NRA asks for, prepare an explanation and deal with the query alongside you. Our Tax / Compliance team handles audits and assessments.

Can you prepare accounts for a bank loan?

Yes. Banks usually ask for recent accounts, management figures and evidence that tax is up to date. We prepare these from your records so the application is easier to support.

The SLONEC team at a SLONEC corporate training programme in Freetown

Talk to the people who will do the work

The SLONEC Accountancy team

Freetown · 1 Hannah Benka-Coker Street

Your work is handled by the SLONEC Accountancy team at our Freetown office and overseen by Ishmael Bangura, who founded SLONEC in 2023 and is a professional accountant. When you get in touch, we tell you who your day-to-day contact will be and how to reach them, and we agree the scope and fee in writing before any work starts.

Ready to talk?

Tell us what you need, or book a call to talk it through first.