Basic accounting solutions and principles are applied to your management accounts and we focus on compliance with IFRS.
Included in the service are the following functions:
- Setting up a chart of accounts
- Monthly capturing of source documents
- Reconciliation of bank and general ledger accounts
- Cash flow projections
- Fixed asset register
- Budgets and forecasts
- Inventory management
- Compilation of management reports, monthly, quarterly or half yearly
- Compilation of annual financial statements
- Preparation of accounting records and year end file for an efficient audit
- Included in the service is the preparation and submission of VAT201 returns
Debtors Management
Comprehensive debtors solution ensuring invoices are submitted on time and remittances thereof are not prolonged.
Included in the service are the following functions:
- Processing of debtor (customer) invoices
- Reconciliation of debtor (customer) accounts
- Printing and sorting monthly debtor (customer) statements / emailing out to customers
- Timeous Age Analysis preparation for effective collection of monies due
- Development and implementation of credit policies
Creditors Management
Comprehensive creditors solution ensuring the compliance criteria around procurement is adhered to.
Included in the service are the following functions:
- Processing of creditor (supplier) invoices
- Reconciliation of creditor (supplier) accounts
- Timeous Age Analysis preparation, detailing payment in line with creditor (supplier) agreed terms, and timeous payment in line with cashflow
- Implementation of procurement practices and financial controls
Cashflow Forecast
Preparation of cashflow forecast in line with client's requirements.
Payroll
Comprehensive payroll solution based on a fee per employee per month.
Included in the service are the following functions:
- Running your payroll, weekly, bi-weekly or monthly
- Submission of monthly SARS - EMP201 return
- SARS - PAYE reconciliation
- Preparation and submission of bi-annual and annual returns
- SARS - employee IRP5 tax certificates with EMP501 reconciled return
Statutory Returns
Completion and submission of:
- VAT201 returns
- EMP201 returns
- EMP501 returns
- Setting up e-filing with SARS
- Setting up e@syfile with SARS
- Correspondence with SARS
We do not provide income tax submission processes but have strategic relationships with tax practitioners who we can recommend for this process.
Accounting Systems
TACK Financial Services utilises Sage Pastel Accounting to draw up your books of accounts.
If you require an accounting package for your premises we will assist with the following:
- Purchase of an accounting package best suited to your business
- Setting up chart of accounts on the new system
- Processing opening balances (if required) onto the new system
- Training of staff on processing and reporting on the new system
- Any other assistance required for the new system to operate as required by your business
