Frequently Asked Questions
Is there a fixed term contract that I cannot get out off ?
We do not have a fixed term contract, any customer can cancel by written notice to cancel three calendar months in advance.
Why do I need financial statements, is there a law that requires it ?
Financial records are imported, examples banks, stakeholders, investors, shareholders require financial statements, the directors need to assess these records, example; is your expenses more than your income. According to the 2008 companies act, Private entities do not require an audit based on a public interest score between 1 to 349 which is subject to certain terms and conditions however their financial statements do require an independent review if drafted internally but do not require an independent review if drafted externally, this is for companies with a public interest score between 1 to 99 therefore you save money by outsourcing your books externally.
Is customers statement an extra fee ?
No, this is included in your Monthly Accounting Package and will be emailed to your clients on a monthly basis.
What happens when I receive payment from my clients and make payment to my suppliers or any other business expense ?
We request online banking access to view only and not transact so we can capture all your receipts, payments and expenses to your incomes statement and balance sheet.
How does fixed assets work ?
We maintain your fixed asset register and we journal the depreciation entry monthly to your income statement and asset section of the balance sheet.
If SARS requires and audit or supporting documents verification, will you get this done ?
Yes we will, provided that we process your monthly accounting, we will have all your documents.
Can you save us money on our tax returns ?
Yes we will use every legal benefit allowed by SARS to ensure you pay the least amount of tax.
Do you do SARS Registrations and new company registrations ?
Yes, SARS Registrations are PAYE, SDL, UIF, VAT, Company Tax and we do new company registrations with Cipc.
Do you do independent reviews for Private Entities even though you do not do there monthly accounting ?
Yes we do, provided you have all the required information on hand.
Do you complete tax returns for individuals and even if they are not employed and generating income ?
Yes any individual, we process your ITR12 once a year and even zero returns.
Can you provide an accounting officers report for a CC ?
Yes we can, provided you have all the supporting documents required.
What other services do you provide ?
SARS Audits and Verifications, Specialised consultation for Tax, Accounting and Payroll.