Finance & Payouts Manual | Eximp & Cloves

System Overview

The Eximp & Cloves Expenditure System is designed for Financial Integrity and Tax Compliance. Every payment must be tied to a Verified Partner (Vendor or Staff Member) to ensure Nigerian WHT 2025 regulations are met automatically.

Step 1: Onboarding Partners

CONTROL: "INVITE VENDOR/STAFF" BUTTON

Before you can initiate a payout, the recipient MUST be in our registry. This button is used for NEW contractors or staff members.

How it works:

Clicking the button copies a Private Recruitment Link to your clipboard.
Send this link to the Vendor or Staff via Email or WhatsApp.
The Partner (Recipient) fills out their Bank Name, Account Number, TIN (for companies), and uploads their CAC documents or National ID.

Automatic Data Capture
This process eliminates typing errors. The system captures their legal entity status automatically to determine if WHT applies.

Step 2: Initiating a Payout

CONTROL: "+ NEW REQUEST" BUTTON

Once a partner is onboarded, use this button to request a specific payment for them.

Workflow:

Identify Partner: Select them from the dropdown list of verified entities.
Gross Amount: Enter the total invoice value (before tax).
Category: Choose between Vendor Pay or Staff Reimbursement.

The 2025 WHT Engine
The system instantly calculates a tax suggestion.
- Registered Companies: 2% - 10% depending on service type.
- Non-Resident/No TIN: Double tax penalty applied automatically.

Step 3: Audit & Approval

All requests enter the "Audit Queue" as pending. A financial auditor must Review the proforma invoice and click "Authorize Payment".

Correction Capability:

Auditors have the "Final Word". In the Review Modal, you can override the WHT (Withholding Tax) if it doesn't apply to a specific item—for example, a staff member buying tools on behalf of the company.