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.
bank reconciliations of cash books to establish outstanding cheques.
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
- 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.
of financial information to calculate certain relevant financial formulae as to
identify areas of attention within the core business activities i.e. Solvency and
- 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
- 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.