All companies are required to have annual financial statements 6 months after their year ends. We prepare financial statements either in preparation for audits, thereby making audits faster.
The Companies Act 71 of 2008 requires audits to be done when the public interest score for profit company exceeds 350 points or the company prefers a voluntary audit. We also perform Independent reviews for companies with PIS of below 100 points.
Garikayi Mutongoreya is a registered practising accountant and can perform Annual reviews of companies with less that 100 points (Public interest score). He completed his auditing clerkship in South Africa and have been involved in a number of audit engagements as the audit senior various companies in South Africa..Most CC's, Pty's, Trusts, NPC's and NPO in South Africa are below 100 points (based on turnover, number of employees and debt).
In such cases, audits are no longer a statutory requirement. Annual reviews have replaced these audits.With reviews, companies can still access finance from bank depending on the amount required. NPO's and NPC's can still get funding from donors depending on the funding or donation contract.
Accounting and budgeting
We prepare your monthly, quarterly and annual management accounts. We do not end there but our emphasis is on management and compliance. We assist in setting up annual budgets, 3 year rolling plans and 5 year strategic plans.
Researches have proved that budgets are vital to survival and profitability of SMMEs.
Corporate and individual tax
Compliance with the Income Tax regulations is very important for every company and individual in South Africa. We provide the following income tax services:
- Income tax registration and deregistration
- Provisional tax registration and deregistration
- Value added tax registration
- Employees tax registration
- Filing of income tax returns for individuals and companies
- Filing of provisional tax for individuals and companies
- Bi-annual and annual employees tax reconciliation
- Objections for VAT, income tax and provional tax
We take away the daily burden of capturing and reconciliations of your books from you. We only need your bank statements, invoices and supplier invoices. We store these records for you for a period of 7 years as required by the Act. Our Bookkeeping services also includes the following services:
- Debtors and creditors reconciliations
- Stores and stock reconciliations
Our secretarial services include the following:
- Registering new companies
- Amendments to the company directorship or members of close corporations
- Filing annual returns
- Maintaining records of directors’ and shareholders’ minutes and resolutions
Monthly payroll capturing and maintenance using Sage Payroll online.