Our Services
Accounting
The purpose of
accounting is to report the financial information as
processed by the bookkeeper regarding the performance,
financial position, and cash flows of a business.
Such reports are called financial statements, which include the following:
§ Income
statement
§ Balance
sheet
§ Statement
of cash flows
§ Statement
of retained earnings
Creditor Recons
The creditors function is important
for a few reasons,
§ Correct
reconciliation reduces the risk of overpayments
§ Recognition of
supplier expenses in the books reduces VAT liability whether
the supplier has been paid yet or not
§ Recording expenses
before they are paid lets the business owner know how much
he owes.
Letting us have your supplier invoices as you receive them will allow us to control this area of your business.
Debtors Recons
Cash
flow is a critical area of any business, and it can easily
get tied up in the debtor’s accounts. Clients cannot
pay if their statements are not issued on time and the
capturing of invoices and receipts has not been done
correctly.
We can ensure that this risk is
controlled by providing your business with accurate monthly
debtor’s statements that can be forwarded to your clients.
Sars Calculations & Returns
The South African Revenue Services
(SARS) expects every qualifying individual and business to
report and declare its taxable earnings / income. This
has to be done in a manner set out by SARS and is required
by law. This includes, but is not limited to
§ IT14
§ IRP6 (provisional
taxes)
§ DWT ( taxation on
declared dividends)
§ EMP201 (payroll
taxes)
§ VAT201
If this is not done correctly and
timeously not only can it incur penalties and interest
levied to the business, but can result in a SARS audit (not
fun)
Bookkeeping
Allocating the monthly income and expenses of a business is
crucial to accurate financial reporting. It ensures that
every single individual financial transactions is
up-to-date, comprehensive and accurately recorded. Only once
the bookkeeping process has been completed is it possible to
provide the information from which management reports (like
a profit and loss statement which tells you how much profit
you're making) can be produced. It
is also extremely important that this is done timeously and
accurately for the purposes of tax planning and financial
management. (We all want to reduce tax liability where
possible)
Payroll
Salaries need to be recorded and paid correctly and on time,
they need to comply with statutory and legislative
requirements as set out by the Basic conditions of
employment act as well as SARS and failure to do this can be
extremely costly to a business.
Other areas of compliance are also
linked to correct payroll processing such as
§
Workmens Compensation returns
§
IRP5 Bi annual submissions
§
PAYE, UIF and SDL returns (EMP201)
§
Annual EMP501 reconciliations and submissions
§
Dept of Labour equity declarations (EEA1, EEA2 & EEA4)
§
Stats SA quarterly returns
To name but a few
