Accounting & Tax Management

“Don’t ever let your business get ahead of the financial side of your business. Accounting, accounting, accounting. Know your numbers.

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Accounting Services Offered

Set up a cash flow management report

It is important to track your money coming into and out of your business. Used for budgeting purposes so you know what to expect in the future of your business with expectes and if you will have enough money paying your employees and suppliers.

Reconciliation of debtors and creditors

Monitoring how much is still outstanding is critical to your business, and one needs to check correctness if any differences occur.

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Process and management of bank reconciliations

Comparing deposits, matching to bank statements and adjust balance on the bank statement.

Formulation of monthly financial reporting and analysis reports

Preparing balance sheets, income statements, cash flow statements for shareholder equity.

Formulation of financial statements for bond applications and corporate funding

Preparing balance sheets, income statements, cash flow statements and application forms in the event of asset purchases and bank loans.

Managing year-end financial reporting, financial cleanups

Gathering financial statements, collecting of duie invoices, collect forms check payroll, account for inventory, organizing bank receipts and reconciliation of accounts, creating checklists and reviewing profit-and-loss statements.

WHAT ARE THE BENEFITS OF AN ACCOUNTANT?

Small businesses may think that they don’t need an accountant, or can’t afford one, or that they’re just people who fill in forms that keep the taxman happy. Actually, by doing all of the following efficiently, an excellent accountant can:

Save you time

It would be best if you dedicated every minute you can to the critical work of developing your products and services to improve your profits. Having someone who can help check that you’ve filled in your forms correctly, meet essential deadlines and offer informed, astute financial advice allows you to focus on your core business.

Reduce stress

Lots of business owners find handling their finances daunting. Many may not have dealt with the types of documentation and terminology of business accounting before. They are creating unnecessary worry due to the complexity and importance of deadlines. An accountant can ease this burden and offer the necessary reassurances that give you peace of mind.

Save you money

Filling in forms incorrectly or failing to understand new or amended legislation could result in a hefty fine, something that can put an unwelcome dent in your profits. Not only that, but Accountants help you to minimise your tax bill by taking advantage of any legal benefits and concessions that may be available to your business.

Help you grow

An Accountant acts as a valuable sounding board. Understand businesses almost better than you do – and the financial side of it probably even better than you do. Objective input from someone that knows your business, but is not as emotionally attached to it as you are, is an invaluable asset. By assisting you to make sound judgments, they, therefore, help you to grow your business. Accountants can also help you identify and fix problems before they become a more serious drain on your finances.

HOW YOUR ACCOUNTANT COULD GET YOU A TAX REFUND?

Getting the support of a professional can help you better understand how tax management is an effective tool to see a return on your investment. Importantly, tax season should not fill you with the same sense of dread as it used to. Accountants alleviate the administration strain on business owners, and then business owners are rewarded with a good return with minimal costs paid to the government.

 

Tax Management Services Offered

Completion and submission of annual tax returns

Filing of tax returns, reports on income, expenses and relevant financial info, and filing necessary documents with SARS.

Application for business & private tax clearance certificates

Issued by SARS and confirming that the applications for tax affairs are in order.

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Follow up on tax assessments and lodging objections to tax assessments

CIT, PIT, PAYE and VAT following up and liaising with SARS

Application for tax directives

Instructing SARS to your employer or fund manager to deduct TAX.

Registration and de-registration of tax (UIF PAYE, VAT, Income Tax)

Assisting in the completion and registrations of all departments, for all applications and communication in directives to SARS, UIF for refunds or registrations.

Salary structuring for employee tax

Looking at allowances, basic salary, benefits and contributions and following a TAX directive from SARS to assist with all calculations.

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Application and arrangement of deferred tax payments

Via SARS e-Filing, making payment arrangements of outstanding debt

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Application for Section 22 tax compromise

Acting on behalf of a Taxpayer to SARS to consider a compromise detailing financial information.

Tax cleanups to ensure compliance with SARS, and current regulation (Tax & Companies Act)

With the Tax Compliance Status (TCS) system, a taxpayer is able to authorise any 3rd party to verify its compliance status through the use of an electronic access PIN. The PIN must be used to verify the taxpayer’s compliance status online via SARS eFiling.

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