You do not have to comply with the requirements of the Companies Act of 2008 with regard to the form of your business.

However, you still need to keep accurate accounting records.

Keeping accurate accounts is the best way to ensure that you, the business owner, have credible and relevant information regarding your business. This will help you to make informed business decisions.

We can offer you the following services :

• processing of your cash book from source documents or bank statements;
• issuing and capturing of customer and supplier invoices;
• preparing customer and supplier age analysis;
• reconciliation of customer and supplier accounts;
• keeping an up-to-date fixed asset register including information on the purchase, sale and depreciation of assets;
• reconciliation of your bank and petty cash accounts;
• accurate VAT processing ensuring that VAT output and input are correctly accounted for;
• preparing monthly management accounts for review;
• monthly submissions of VAT, PAYE, UIF, SDL; and
• reconciliation of the EMP501 with SARS on a bi-annual basis.

Outsourcing has the following benefits :

• No need to buy and annually renew an accounting software package;
• No need to appoint an inhouse accountant;
• Your accounts will always be up to date and will be as accurate as the information supplied to us;
• having financial and tax experts a phone call away.

As a Sole Proprietor you have to submit an IT12 to SARS on an annual basis and you need a proper system in order to provide SARS with accurate figures.

We can assist you with this and ensure that your tax return and other statutory requirements are met.

SOURCES :
Cronje & Cronje
Business Partners