A: SERVICES FOR BUSINESS OWNERS:

1. General Day-to-¬Day Bookkeeping:

• Payments and Receipts (documentation of transactions)
• Capturing all data
• General Ledger – Reconciliation of Bank Accounts
• Journals
• Petty Cash/Bank Statements/Internet Transactions
• Compiling VAT Invoices - sales
• Payments of Orders/Services rendered to a company.

2. Payroll Services:

• Salaries / Payroll / Pay Slips.
• EMP501 – the summary of every 6 months of PAYE paid over by companies and generation of the IRP5 (tax Certificates) issued for each employee to reconcile.

3. Debtor and Creditor Management.

Managing your debtors correctly will help you get paid faster and prevent bad debts. Managing debtors (credit management) includes: collecting debts on time. setting credit limits and payment terms.

4. Budgeting:

• Accounting / Financial Reports and Management.
• Services on results.

5.Annual Financial Statements:

• Tax Advice
• Company Tax / Personal Tax Included

6. Liaison with SARS E-filing:

• PAYE – Pay As You Earn
• UIF – Unemployment deductions
• SDL – Development Levies deducted, if registered
• IT14 - Yearly Financial Statements
• ITR12 - Personal Income Tax
• IRP6 - Provisional Tax
• EMP201 – Monthly submissions of Pay As You Earn
• VAT201 – Value added tax if registered / declared
• EMP501 - Summary every 6 months of PAYE paid over by companies.
• Generating IRP5 (Tax Certificates) issued for each employee. (To reconcile.)

7. Registration with the Department of Labour (and the Compensation Fund):

Reconciliation of total salaries for medical claims – once a year. (Letter of Good standing!)

1. We will ensure that the following Tax Information is in place:

• Registration for Personal Tax.
• Registration of your FICA details with your nearest branch of SARS.
• Structuring your income.  (Re “claims” - what is allowed?)
• All supporting documentation such as Medical Certificates; Annuity Certificates; Interest Certificates from Investors and many more…
• Claims for Travel Allowances and Fringe Benefits also: Log books.)
• Submissions for each Tax Year - Form ITR12 (The Tax Form used to submit tax.)
• Finalizing all assessments – using Form IT34.
• Finalizing outstanding disputes.
• Provide the required documentation for multiple incomes.
• Registration as Provisional Taxpayers – using Form IRP6, for provisional tax to accommodate extra tax payable on additional income.

2. We will also take care of: Additional income as Consultants; Sole traders or Commission Earners:

• An Income and Expenditure Statement as well as a Balance Sheet will be required.
• The ITR12(Tax Form) will be compiled for the client’s specific situation. (We also recommend choices for e-filing and compile the status of content.)
• Claims can then be presented (if it truly represents legal expenses for the period of income.)
• Advice on specific claims – these may be different for each Individual’s trade. Therefore every aspect will be designed to your specific need.

3. Finally: Tax Submissions (ITR12), disputes and audits will be prioritized!  Submitted on time.

4. Notifications from SARS:

These are letters from SARS to keep you informed via e-filing re the progress of the assessment. (The IT34 form will be issued.)

Questions frequently asked by the Individual Tax Payer:

• Are you registered for a Personal Tax number?
• When last did you FICA your registered details with you nearest SARS branch?
• The structuring of your income. What is allowed to claim?
• Do you have all the supporting documentation? Medical Certificate, Annuity Certificate, Interest Certificates from Investors and more
• Claiming of Travel Allowances and Fringe Benefits – Log books
• When has your last Tax Year been submitted? (Form ITR12) - TAX FORM TO SUBMIT YOUR TAX
• Has all the assessments (IT34) been finalized?
• Were there any disputes outstanding?
• Do you earn more than one income?
• Are you registered as a Provisional Tax Payer (FORM IRP6) – The PROVISIONAL TAX FORM to accommodate your extra tax payable on additional income.

• Registration of a New Business and all Statutory Registrations with different bodies as the Department of Labour for Unemployment Fund and Compensation.
• Amendments of new and existing companies
• CIPC Annual Returns
• BEE Exempt Certificates

SAIT:

(SA Institute of Tax Professionals)

SAIBA:

(SA Institute for Business Accountants)

CIPC:

Company and Intellectual Property Commission (Registration/Amendments of companies)

TCC:

Tax Clearance Certificate – it proves the good standing of the company and for Tender purposes

E-FILING:

The communication channel between your

Practitioner / Accountant / Representative and SARS

EASYFILE:

A program used by SARS - EMP501 – the summary of every 6 months of PAYE paid over by companies and generation of the IRP5 (tax Certificates) issued for each employee to reconcile.

NOTIFICATIONS:

SARS letters to E-filing to communicate

COMPENSATION:

Registered with the Department of Labour and declared once a year for assessment (medical cover for staff injured during working hours.)