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Accounting Services.

Our Accounting & Tax Department offers the following services:

  • Registration of the business entity with the Registrar of Companies and Close Corporations and appointment as Accounting Officer.
  • Registration of the client for all statutory institutions for Income Tax, Value-Added Tax (VAT), Skills Development Levy (SDL), Pay As You Earn (PAYE), Unemployment Insurance Fund (UIF), Workmen’s Compensation and Regional Services Councils.
  • Submitting of EMP201, VAT201, IRP6 and IT56 with payments to SARS.
  • Submitting of monthly RSC returns with payments.
  • Submission of annual IT12 Tax Returns for individuals and trusts, IT14 Tax Returns for Close Corporations and Companies.
  • Reconciliation of IRP501 and issuing of IRP5 and IT3(a) certificates to all relevant employees and members of close corporations.
  • Reconciliation of IT34 – SARS assessments, after submission of IT12 and IT14 returns.
  • Lodging of formal objections to SARS regarding variances on IT34.
  • Handling all correspondence with / to SARS.
  • Setting up of accounting systems on Pastel Accounting software for clients according to specific sector and business requirements.
  • Processing of monthly transactions from source documents i.e. cheques, bank statements and invoices to compile a payments and receipts cash book.
  • Allocation of payments in cash books, credit card cash books and petty cash books to the relevant cost centres applicable to Accounting Standards and the nature of the business.
  • Monthly bank reconciliations of cash books to establish outstanding cheques.
  • Processing debtors and creditors to obtain monthly age analysis.
  • Full accounting system to Trial Balance, Income Statement and Balance Sheet with CaseWare Accounting software.
  • If our client is registered with The Compensation Commissioner we submit a WAs8 before 31 March of each year.
  • Compiling of Financial Statements which includes Income Statement, Balance Sheet and Cash Flow Statement as at year end for submission to SARS.
  • Communicating with Bank Institutions on behalf of our client.
  • Providing cash flow and financial statements on a regular basis to the relevant banking institution for purposes of re-evaluating credit facilities for the client.
  • Setting up of Comprehensive Business Plans and assisting with application for commercial finance with Banking Institutions.
  • Compiling of Private Assets and Liabilities Statements for the individual and submission to SARS.
  • Negotiations with the clients of the business entity and construction of formal agreements between them.
  • Assisting with the completion and submission of Tender Documents.
  • Analysing of financial information to calculate certain relevant financial formulae as to identify areas of attention within the core business activities i.e. Solvency and Liquidity.
  • We offer financial planning, estate and retirement planning for the individuals of the business as well as for the business entity itself.
  • Constructing salary packages for the employees and handling of the Income Tax affairs with SARS.
  • Full payroll administration function using the Pastel Payroll system and providing weekly, fortnightly and/or monthly payment advices to all employees of the business.
  • Assisting with any employee disputes regarding employment contracts, disciplinary hearings, leave pay, bonuses, increases etc.
  • Working in conjunction with carefully selected partners, Fincor offers a full range of trust company services, to ensure that your affairs are in professional hands and that your loved ones are protected.