Accounting (Management Accounts)

Reporting the bookkeeping and figures and offering suggestions & advice. Most businesses fail, due to the owners or management not having access to meaningful figures, to make proper sustainable business decisions.

Sailing blind is a recipe for disaster – We highly recommend management accounts for all new start up and existing businesses – The benefit of this is substantial, when compared to the cost and business failure repercussions.

Day to Day Bookkeeping

Running a business without keeping up to date records of income, expenditure, cash inflows, and outflows is almost impossible and not recommended.
Fortunately, affordable computerised accounting packages have eased up this administrative burden tremendously. We are able to offer and perform this service for you by:

Payroll (VIP Payroll) incl statutory returns

We provide a quality outsourcing service, geared to meet the needs of businesses today.

We provide a payroll service for monthly payroll cycles, including the production of monthly reports and security-sealed payslips.

In addition, we provide a full end of tax year service including the production of all statutory employer and employee information.

Statutory Returns (Vat, PAYE)

VAT returns, PAYE, SDL & UIF deductions & payments, as well as Provisional Income Tax payments are just some of the monthly and periodical returns that businesses (and individuals in the case of Income tax) are obliged to complete.
Although some business owners elect to do all of these functions themselves, the day-to-day running of the business (the core function of the business owner) can be seriously disrupted by these necessary diversions, often resulting in late submissions and penalties.
The advantages of having an independent specialist to take care of these functions are therefore obvious.

Business Rescue

According to the new Companies Act, if a company is commercially insolvent, the owner after six months of being commercially insolvent has to either liquidate, place under rescue or restore the solvency by injecting more funds and subordinating the injection in Favour of creditors. Should they exceed six months they are exposed to reckless trading and has criminal implications.
Under rescue, we ring fence all the debt and start from scratch. If our assessment reflects that the business has the probability of trading out, we then put a financial plan together and if the liquidation dividend for example shows zero cents in the rand, we offer creditors say 20 cents under rescue and kills 80% of the debt immediately which automatically restores the solvency overnight.
Early detection and swift decision actions are keys to restoring performance and value. Managing adversity objectively by bringing all the affected parties to a point of common ground is the key component and the start of the resolution process. The team will assess both company and personal affairs and will provide where possible a solution to ensure the protection of all assets.

General Business Planning

Other added value services that we can offer your business include:

Tax Planning and Advice

Tax planning and advice is more than just completing the returns, we also provide assistance and information such as:

Annual Financial Statements Preparation and Signing Off:

In terms of tax legislation, every business, from a sole proprietor to large companies, has to draft annual financial statements to disclose its results to SARS.
In this respect, not all individuals are qualified to carry out this function.
For example, bookkeepers cannot legally sign off close corporation annual financial statements.
An integral part of the drafting of annual financial statements is the tax planning and structuring aspect (refer below) which, to be compliant with SARS, can only be done by a registered tax practitioner.

Initial setting up & Registrations (eg CC, Pty Ltd, Partnership, Trust):

There is considerable paperwork and procedures involved in setting up various business entities in South Africa and employing an experienced person to make the application for you can streamline the process and minimise costs. We can also advise on the most suitable business entity for your requirements, which has significant tax, cost, and legal ramifications.

Pastel software sales

We are an accredited dealer and offer Pastel software at a whole sale price less 10%. For all you Pastel software requirements contact Karl on:

• Phone: 083 442 6379
• Phone: 031 303 9696