BOOKKEEPING
Sithole Accountants provides bookkeeping and accounting services for small to medium sized businesses. As an entrepreneur you will know that the daily management of your business finances, is critical to the success of your business. Your decision to outsource your bookkeeping work to Sithole Accountants will provide you with a cost effective alternative of hiring staff . At Sithole Accountants, we will provide you with a professional and efficient team who will handle all your bookkeeping, administrative and compliance needs. We will provide you with a comprehensive solution, while incorporating the most fundamental internal business functions. We will provide you with quality work, prompt execution and delivery, as well as high standards of confidentiality, that will exceed your expectations. We will provide you, on a monthly basis, with an income statement and balance sheet , should you require it . We will even process your VAT returns if you are registered for VAT.
AUDITING
Auditing includes the examination and evaluation of an entity's financial records to ensure that they are acurate and in accordance with any applicable rules, including accepted accounting standards, regulations and laws and to ensure that all departments are following documented systems of recording transations. At Sithole Accountants, We SPECIALISE in Auditing School's Financial Records to produce accurate and reliable financial statements. We provide training for the school's finance officer to ensure recording and bookkeeping standards are followed. The School's Act requires public schools to draw up their annual financial statements in accordance with guidelines determined by the Member of the Executive Council (MEC) and submit the audited set to the head of department within six months after the end of each financial year.
FINANCIAL STATEMENTS
Financial statements are formal records of the financial activities and position of an entity. Relevant financial information is presented in a structured manner and in a form that is easy to understand. The Regulations to the Companies Act, as well as the School's Act, specify how records must be maintained and the consequences if accurate and complete accounting records are not maintained in the prescribed manner. Any accountable business person will want comfort and assurance that their financial statements have been prepared from reliable accounting records according to the prescribed accounting framework and that these financial statements are not misleading, but are a true reflection of their business operations. Financial statements of businesses need to comply with the international financial reporting standards (IFRS) because the accounting framework is very technical in nature. The preparer of the financial statements needs to know and understand the framework, and thus the need to outsource this function to a professional, like Sithole Accountants, may arise. Businesses need to ensure that their financial statements are prepared within 6 months after their financial year end. At Sithole Accountants, we can assist you as the preparer of your business financial statements and will prepare these financial statements for you, in less than a month of receiving your financial year-end records.
PAYROLL
Payroll is the compensation a business must pay to its employees for a set period of time. In many businesses, payroll is a time consuming and expensive exercise which demands a lot of administrative and specialist human resources and so the operational costs are substantial. The potential liabilities from under-estimation of taxes requires an exceptional level of security and accuracy. At Sithole Accountants, we provide a complete service of all payroll functions for all employee types, statutory compliance of returns and administration is guaranteed.
SECRETERIAL
Sithole Accountants offers business advise, registration of companies, B-BBBEE verification & certificates and share certificates. We can ensure that you comply with all legislated requirements in terms of registration with the authorities, and submitting the relevant returns when they are due. We also provide a service where we register you with the South African Revenue Service and the Department of Labour, as required. Sithole Accountants can assist you with analysing and identifying business processes and internal controls, and make recommendations and discuss potential growth & improvements.
TAXATION
Sithole Accountants provides a complete taxation service which includes the completion and submission of income tax returns ,estate duty, donation tax, withholding tax, and provisional tax returns. We can consult with you on various tax matters, correspond with the South African Revenue Service with regard to queries and objections.