Bookkeeping Services

Bookkeeping services to suite the entrepreneurs needs. We can assist from registration right through to financial statements and the filing of your tax returns and everything in between.

Bookkeeping services

Bookkeeping services from only R750 per month:

Our bookkeeping services include:

  • Vat calculation and submission of returns
  • Payroll tax calculation and submission returns
  • Monthly bookkeeping to trial balance
  • Management statements when required
  • Annual financial statements
  • Annual company tax return
  • Company provisional tax
  • Compensation Commissioner annual return of earnings and Letter of Good Standing
  • SARS tax clearance certificate
  • CIPC annual returns

 

Registrations:

We can assist with all SARS and Department of Labor registrations.

VAT Registration:

Voluntary VAT registration:

You can voluntary register for VAT when your business turnover exceeds a total of R50,000 for a 3 month period. Usually companies voluntary register for VAT if larger businesses have a policy of only doing business with other VAT registered businesses.

Compulsory VAT registration:

As soon as the business turnover exceeds R1 million for a 12 month period or the business is likely to exceed the R1 million turnover, the business is legally obliged to register for VAT. In other words when your turnover is R83,400 per month, you are going to reach a turnover of R1 million in a 12 month cycle. Practically a cycle is a financial year.

VAT returns are normally submitted on a 2 monthly cycle.

 

Payroll tax Registrations:

A business which pays director remuneration and or salaries and wages, must register as an employer.

A director is an employee of the company.

  • SARS registration as employer
  • Department of Labor registration for UIF and CCMA
  • Compensation Commissioner registration for injuries on duty

 

SARS payroll tax returns are submitted monthly. A payroll reconciliation has to be submitted to SARS every 6 months. UIF returns are submitted when an employee start or ends their employment. An annual return of earnings must be submitted at the Compensation Commissioner.

 

Income tax registration:

CIPC registered your company for income tax when the company was registered. To stay in good standing with SARS the following returns have to be submitted on time:

  • Bi-annual company provisional tax returns
  • Annual company tax return

 

CIPC:

  • Your company has to submit and pay an annual return in the month the company was registered.
  • If your annual returns are not up to date, your business overdraft facility can be frozen and your company will be deregistered after being outstanding for 3 consecutive years.

Tax Clearance Certificate:

SARS issues tax clearances which is valid for a period of one year. All returns and taxes must be up to date to be in good standing with SARS.  As soon as a return or money becomes outstanding, the tax clearance becomes invalid.

Financial Statements:

Financial statements must be compiled by a qualified accountant within 6 months after the company year end. From the financial statements, the company tax return is completed. Turnover must correspond with the VAT returns and CIPC annual return declared. Payroll on the financial statements must correspond with the  payroll tax returns and Compensation Commissioner return of earnings.